Here are the numbers from SCO's press release. According to the conference call, they have $7 million in cash left to operate SCO after this quarter. They spent $4.3M in legal fees this quarter. They project $3M per quarter going forward. But take a look at their accounts payable. It seems to have taken quite a jump. Why? Not paying bills? The press release says they have placed $5M in escrow, in connection with their litigation. I remember from Dion Cornett's 11/8 OSWS that $5M in escrow is for the lawyers, travel expenses, witness fees, etc. Reuters: "Revenue declined to $10.08 million from $24.3 million."TheStreet.com's Ronna Abramson says SCO's 4Q loss "tripled on a sharp drop in sales": "Lindon, Utah-based SCO reported a loss of $6.5 million, or 37 cents a share, in the fourth quarter. That compared with a loss of $1.6 million, or 12 cents a share, in the same period a year earlier."The loss includes a $2.7 million restructuring charge."Revenue fell more than 50% to $10.1 million from $24.3 million a year earlier. . . . "Legal news has been the primary driver of the stock, which has fallen about 77% from a 52-week high of 19.31. The company has drawn its share of investors betting against it, with the short interest at 53% as of Nov. 8. Shares of SCO Group fell 33 cents, or 6.8%, to close Tuesday at $4.51."All in all, this isn't the moon.
Sourced fromGrokLawReblogged by dymaxion on December 22, 2004 05:53 PM