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As SCO faced a bankruptcy judge for the first time today, a recently filed 10-Q form reveals that the company doubts its ability to survive if it is required to make significant payments to Novell for UNIX licensing royalties that a judge ruled were wrongfully retained.
The SEC filling paints a grim picture of SCO's prospects for recovery. "As a result of both the Court's August 10, 2007 ruling and our entry into Chapter 11, there is substantial doubt about our ability to continue as a going concern," reads the filing. "If a significant cash payment [to Novell] is required, or significant assets are put under a constructive trust, the carrying amount of our long-lived assets may not be recovered."
arstechnica.com
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Duh, when your business plan is based on suing everyone and the court says the basis of your claims is useless, the next step is usually going out of business. I will not miss them.
The SEC filling paints a grim picture of SCO's prospects for recovery. "As a result of both the Court's August 10, 2007 ruling and our entry into Chapter 11, there is substantial doubt about our ability to continue as a going concern," reads the filing. "If a significant cash payment [to Novell] is required, or significant assets are put under a constructive trust, the carrying amount of our long-lived assets may not be recovered."
SCO has "substantial doubts" about its ability to survive
On the day of its first appearance in bankruptcy court, SCO's latest SEC …
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Duh, when your business plan is based on suing everyone and the court says the basis of your claims is useless, the next step is usually going out of business. I will not miss them.
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