I don't know which of us will be happier when the SCO bankruptcy finally winds down, SCO or me. But faithful to the end, I have the latest bankruptcy documents for you.
MOR for February [PDF] lists a book value for SCO China as of February 28, 2009 at zero. That's on page 7 of the PDF. It was valued at $497,858 as of September 2007, when SCO initially filed for bankruptcy protection. And poof. It's gone. Buh-bye.
SCO Operations' MOR [PDF] shows net cash flow at (538,952), with cash on hand at $2,436,636, so the end is nigh, absent help from above. Well, from outside, anyway, something I never rule out.
On page 4, it shows no royalties from China via Japan, whereas cumulative filing to date in that category was $802,644. It also lists on that page $25,607 as money owed Novell, restricted cash, SVRx. Then page 12 lists another $147,390. On that same page, I see Japan has rather a lot in the bank, a couple of million, with total foreign subsidiary cash listed at $2,614,359, and SVRx restricted cash for Novell listed at $2,032,874. Why it's in Japan... well, I have no idea.
Did China get sold off, maybe, to pay Novell and the money went there? Considering SCO's expressed interest in not paying Novell until after the appeal, not to mention the SCO proposal in the last reorganization plan to pay them maybe in SCO stock someday, that probably isn't the right guess. Maybe so the court can't force anybody's hand? Or maybe SCO wants Novell to be like Moses and the Promised Land -- Novell can see the money in the distance, but it can never get there? Just kidding around. Maybe you brainiacs can figure it out. I read the filings, notice things, but I have no idea what it all means.
The transcript for the hearing held on March 30th is on file, if anyone lives in Delaware and wants to read it and tell us what's in there, but it's not available to the rest of us until July 8, when we'll get access to it, or at least a redacted copy if anyone asks for redactions. They have until the end of April to request that. Naturally, that is the one filing that I'm really interested in.
The list of all professional fees from the filing date to the end of February shows only one listing for 2009, a January fee to Tanner. Surely there will be more. But the total listed comes to $3,376,699 and $218,487 paid out. I wonder if they'll get the rest, considering the cash flow thing. They have all cashed their checks, I gather, except for $88,331 listed on page 12 as "uncleared disbursements". Now, if it were me, I think I'd get on that right away.
04/06/2009 - 735 - Affidavit/Declaration of Service of Epiq Bankruptcy Solutions Regarding Supplemental Order Granting and Sustaining Debtors' First (Non-Substantive) Omnibus Objection to Claims Pursuant to 11 U.S.C. Section (502(b) and Bankruptcy Rule 3007 (related document(s) 730 ) Filed by The SCO Group, Inc.. (O'Neill, James) (Entered: 04/06/2009)
04/07/2009 - 736 - Debtor-In-Possession Monthly Operating Report for Filing Period February 2009 of The SCO Group, Inc. Filed by The SCO Group, Inc.. (Attachments: # 1 Affidavit of Service and Service List) (Makowski, Kathleen) (Entered: 04/07/2009)
04/07/2009 - 737 - Debtor-In-Possession Monthly Operating Report for Filing Period February 2009 of SCO Operations, Inc. Filed by The SCO Group, Inc.. (Attachments: # 1 Affidavit of Service and Service List) (Makowski, Kathleen) (Entered: 04/07/2009)
04/08/2009 - 738 - Certificate of No Objection (No Order Required) Regarding Seventeenth Monthly Application of Pachulski Stang Ziehl & Jones LLP, as Co-Counsel to the Debtors and Debtors in Possession, for the Period from January 1, 2009 through January 31, 2009 (related document(s) 723 ) Filed by The SCO Group, Inc.. (Attachments: # 1 Certificate of Service and Service List) (Makowski, Kathleen) (Entered: 04/08/2009)
04/09/2009 - 739 - Transcript regarding Hearing Held 3/30/2009 Remote electronic access to the transcript is restricted until 7/8/2009. The transcript may be viewed at the Bankruptcy Court Clerk's Office. [For information about how to contact the transcriber, call the Clerk's Office] or [Contact the Court Reporter/Transcriber Doman Transcribing, Telephone number (856)435-7172.] (RE: related document(s) 727 ). Notice of Intent to Request Redaction Deadline Due By 4/16/2009. Redaction Request Due By 4/30/2009. Redacted Transcript Submission Due By 5/11/2009. Transcript access will be restricted through 7/8/2009. (BJM) (Entered: 04/09/2009)
04/11/2009 - 740 - BNC Certificate of Mailing. (related document(s) 739 ) Service Date 04/11/2009. (Admin.) (Entered: 04/12/2009)