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SCO Files MORS for January and Ocean Park Asks for Money
Wednesday, April 06 2011 @ 12:37 PM EDT

SCO has now filed its Monthly Operating Reports for January. They have some inscrutable and/or cynical items and some I don't recall seeing before. Accounts Receivable = $246,754. Cash on hand at the beginning of the month = $804,709.00. Disbursements = $456,100. Wow. Remember that SCO got a $2M loan not that long ago, yet cash at the end of the month? $601,752.

Nothing for Novell in January. Cumulative to date receipts in the "Novell SVRx Fee" category were $881,526, but nothing at all in January. Disbursed to date since the bankruptcy began in 2007? $478,486. So.... Wait. That's not a debt. That's Novell's money from day one, not money owed to Novell. So, SCO will skulk out of bankruptcy court having converted Novell's money to its own use and nothing happens? Man, Delaware is a trip. So is SCO.

03/22/2011 - 1258 - Debtor-In-Possession Monthly Operating Report for Filing Period As of 1/31/11 (The SCO Group, Inc.; 07-11337) Filed by Edward N. Cahn, Chapter 11 Trustee for The SCO Group, Inc., et al.. (Attachments: # 1 Certificate of Service) (Tarr, Stanley) (Entered: 03/22/2011)

03/22/2011 - 1259 - Debtor-In-Possession Monthly Operating Report for Filing Period As of 1/31/11 (SCO Operations, Inc.; 07-11338) Filed by Edward N. Cahn, Chapter 11 Trustee for The SCO Group, Inc., et al.. (Attachments: # 1 Certificate of Service) (Tarr, Stanley) (Entered: 03/22/2011)

03/24/2011 - 1260 - Claims Register in alphabetical and numerical order can be viewed upon request at the clerk's office. Filed by Epiq Bankruptcy Solutions LLC fka Bankruptcy Services, LLC. (JRK) (Entered: 03/24/2011)

04/06/2011 - 1261 - Certificate of No Objection Regarding Sixteenth Monthly Application for Compensation of Ocean Park Advisors, LLC for the Period January 1, 2011 to January 31, 2011 (related document(s) 1254 ) Filed by Edward N. Cahn, Chapter 11 Trustee for The SCO Group, Inc., et al.. (Tarr, Stanley) (Entered: 04/06/2011)

04/06/2011 - 1262 - Monthly Application for Compensation of Ocean Park Advisors, LLC (Seventeenth) for the period February 1, 2011 to February 28, 2011 Filed by Ocean Park Advisors, LLC. Objections due by 4/26/2011. (Attachments: # 1 Notice # 2 Exhibit A # 3 Exhibit B # 4 Certificate of Service) (Tarr, Stanley) (Entered: 04/06/2011)

Look at the professional fees SCO has paid out since it first filed for bankruptcy protection:
$5,782,401
+ $472,791 expenses
$6,255,192
Ocean Park's 17th bill is for a meager $8,000 or so. Still, they'd better hurry and get paid before SCO goes poof. Nah. Professionals get paid, I noticed over the years. In fact, isn't that figure about what SCO had when it first filed for bankruptcy protection?

Say, look at page 6 of #1258 [PDF]. "Loans to Insiders" in the amount of $748,863 in January, and $1,326,293 cumulative to date. What is that?

[ Correction: I misread it. The "loans to insiders" category is blank, and one line down is "other".]

And why would Japan's book value dip from $765,366 in September of 2007 when SCO filed for bankruptcy and now it's only listed as valued at $685,794? None of the other subsidiaries changed, except for SCO China, which was sold a while back.

But here's the truly amazing figure: guess what SCO's net payroll was in January? $100,614. I kid you not. That would be one executive? One CFO? Or one salesman and someone to answer the phones? What is clear is that whatever unXis wanted these assets for, it's not for the fabulous business.

The SCO Group as we knew it is no more, I conclude, ladies and gentlemen. It is become a wasteland, where occasional desultory winds move the tumbleweeds aimlessly here and there down the dusty and nearly empty streets.


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