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To read comments to this article, go here
SCO Files Notice of Late Filing with SEC
Monday, June 22 2009 @ 06:54 PM EDT

SCO has filed a Notification of Late Filing with the SEC. They're tied up in bankruptcy court, it appears, so they can only give a ballpark idea of how things are going in the revenue department. Think South. I know. Their prince will come, if they can just drag this out long enough for the appeals court to act in their favor, which intriguingly all the SCO shills seem to think is as fixed in the sky as the Big Dipper.

It seems they are too busy at the moment in bankruptcy court to file:
State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.

Due to the time required for preparation of documents and key hearing scheduled for June 15, 2009, and July 27, 2009 in connection with the bankruptcy proceedings, the Company requires additional time to file a complete and accurate Form 10-Q for the three months and six months ended April 30, 2009.

(3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?
X Yes - No

Our financial information for the quarter is unaudited. We expect our revenue for the three months ended April 30, 2009 to decrease 31 percent from the three months ended April 30, 2008. We expect our revenue for the six months ended April 30, 2009 to decrease 34 percent from the six months ended April 30, 2008. These decreases resulted from increased competition from alternative operating systems, particularly Linux, and from continued negative publicity from the SCO Litigation and the Company’s filing for Chapter 11 bankruptcy.

We expect our net loss for the three months ended April 30, 2009 to improve 62 percent from the net loss for the three months ended April 30, 2008. We expect our net loss for the six months ended April 30, 2009 to improve 65 percent from the net loss for the six months ended April 30, 2008. These improvements were the result of decreased operating costs which were offset, in part, by a decrease in revenue as mentioned above.

If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.

[Update: Funny comment from Jpvlsmv: "Because of course, no company in bankruptcy can be expected to keep track of all of their money all the time." Which reminds me, they are late with the monthly reports to bankruptcy court too. So, if they file everything on the morning of the hearing on the sale, let's just say, how are Novell and IBM and the US Trustee going to be able to figure out if the plan will work, with so many facts missing? And anonymous notes the decreased revenues and asks the right question: "This is despite the much vaunted rising star 'Mobility'"? Hey, that's right. Wasn't it number 22 or something on the iPhone Apps Hit Parade or something? Would you like to see the top 148 iPhone applications downloaded from the iTunes store? - End update.]

They forgot to mention the real reason I think they are "decreasing". They lost in Utah. Notice the date for the sale hearing has, indeed, been set for July 27th in Delaware. The notes from the hearing [PDF] confirm that. I don't know what crack the hearing on the motions to convert to Chapter 7 ended up falling into.


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