SCO Given NASDAQ Delisting Notice

SCO Delenda Est writes "The SEC has given SCO notice that they will be delisted from the NASDAQ if they cannot keep their share price above $1 sometime in the next 180 days. Although they may be able to avoid delisting for a while, their small market capitalization will hinder their efforts. Given their other financials, this just goes to show how desperate their current financial situation is."

Link to proof

[Soko]

Since there was no link in the story, I figured it'd be prudent to provide one [groklaw.net] sowing that SCO is indeed in peril of having their stock de-listed.

As usual, PJ provides the relevant and proper info.

Soko

What? Again?

[Anna Merikin]

Wasn't the same warning given SCO several years ago...just before Microsoft and Sun bought SCO's expensive UNIX licenses for linux, bringing SCO's per share price back above the penny-stock listings?

This was just a warning, like last time, not a notice of delisting. That would come just about the time SCO v. IBM finishes.

Nothing to see here, move along.

Related...

[jginspace]

...as discussed [slashdot.org] here two weeks ago. More details at PRNewsWire [prnewswire.com].

Re:Other ways to sell stock

[wfberg]

At a market cap of 19.53M at 92ct/share, there are 21M shares in SCOX. 14.25M are "float" according to finance.yahoo.com, so they can do reverse stock-splits quite a bit, and still have more than 500,000 shares listed.

Re:$1

[KokorHekkus]

It's because when a stocks value go that low it becomes very easy to manipulate in various ways (such as different pump-and-dump schemes etc) since even a very small swing in paid price means many percent in profit. Basically the stock price becomes much more unreliable as an indicator of the actual value of the company and that in turn would reflect badly on the stock exchange where it is trade.

More about penny stock fraud at wikipedia: http://en.wikipedia.org/wiki/Penny_stocks#Penny_St ock_Fraud [wikipedia.org]

Re:Pump and dump/ milking the cow

[Anonymous Coward]

the software company sco from that time is not the same company with that name today

just to remember, it was caldera who changed the name to sco after they bough the trademark sco

so it has absolutely nothing to do with the once successfull sco, they just try to let it look that way

Re:Latin...

[Ixot]

What Cicero would say was indeed "Ceterum censeo Carthaginem esse delendam". This translates (roughly) to "Furthermore, I think that Carthage must be destroyed. The "C. esse delendam" part of the quote is what one calls an "Accusativus cum infinitivo" and usually follows verbs of dialogue, reflection or counsel.

I believe that "SCO delenda est" really translates to "SCO must be deleted".

Of course my Latin is a bit rusty, so I may wrong.

Re:Other ways to sell stock

[gmack]

Why would a hedge fund do that when the total value of was a combined $519 000 according to Their last financial results [groklaw.net]?

SCO owns nothing of value at this point.

Re:Pump and dump/ milking the cow

[_Sprocket_]

the software company sco from that time is not the same company with that name today

The software company known as SCO (The Santa Cruz Operation) sold their rights associated with Unix to Caldera Systems in 2001. SCO then renamed themselves Tarentella, Inc. having retained rights to their Tarentella product (something akin to Citrix). Caldera Systems immediately changed their name to Caldera International. In 2002 there is another name change to The SCO Group (often referred to as "SCOg" to avoid confusion with the old SCO). And in 2003 is the filing of the infamous lawsuit against IBM. In 2005, Tarantella is purchased by Sun Microsystems.