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SCO Group Receives New "Delinquent Filer" Stock Ticker From Nasdaq
As SCO Fails to File Its Annual Form 10-K, Nasdaq Amends SCOX Ticker to SCOXE

On January 31, The SCO Group should have filed with the SEC its 10-K, but it didn't. Instead, it filed for a 15-day extension.

Starting yesterday, 15 days later - the 10-K having still not been filed - stock of The SCO Group has started trading under the symbol SCOXE instead of SCOX. That extra "E" acts as a flag to the world that Nasdaq has served notice on SCO that it is not in compliance with the exchange's listing requirements having failed to file its annual report with the SEC.

Reporting at NewsForge, Melanie Hollands notes that "if SCO's auditors have a problem signing off on the 10K for any reason, that could be serious."

In a press release issued Thursday, SCO said:

"The Company has been unable to file its Form 10-K for the fiscal year ended October 31, 2004 because it continues to examine certain matters related to the issuance of shares of the Company's common stock pursuant to its equity compensation plans. The Company is working to resolve these matters as soon as possible and expects to file its Form 10-K upon completion of its analysis."

SCO's securities will be delisted from the Nasdaq SmallCap Market at the opening of business on February 25, 2005, unless it requests a hearing on Nasdaq's delisting notice, served on February 16. In that notice, the staff of The Nasdaq Stock Market indicated that SCO is subject to potential delisting from the Nasdaq SmallCap Market for failure to comply with Nasdaq's requirement to file its Form 10-K for the fiscal year ended October 31, 2004 in a timely fashion, as required under Marketplace Rule 4310(c)(14).

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SYS-CON's Linux News Desk gathers stories, analysis, and information from around the Linux world and synthesizes them into an easy to digest format for IT/IS managers and other business decision-makers.

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Reader Feedback: Page 1 of 1

That "E" suffix on SCOX has already driven their volume way down to about a third of the three-month average. They're now thinly traded.
And they still haven't filed their 10-K for last year. If it's not filed by the hearing date, they're going to be delisted.

There just has to be something really, really embarassing in the 10-K. Nobody files a late 10-K because of good news. And remember, since Sarbanes-Oxley became law, Darl has to personally sign the 10-K under penalty of perjury. Hide bad news, go to jail.

This background from Mac UK site: "SCO warned in an SEC filing two weeks ago that it would be late filing its report because its auditor, KPMG, has requested additional documentation from SCO and was unable to complete its audit by the SEC's filing deadline. SCO spokesman Blake Stowell said Thursday that SCO and KPMG are discussing SCO's accounting treatment of its employee stock purchase plan. KPMG has been SCO's auditor for several years; Stowell was unsure why the purchase plan accounting was raising flags now when it hadn't before."

Guess what, the SCOX message board at Yahoo! Finace is wiped clean! It didn't get transferred to SCOXE. "There is no data available for SCOXE" is all it says at http://finance.yahoo.com/q/mb?s=SCOXE. Strange...

What will it take for the US SEC to investigate the public statements of Darl McBride and others? ( See tinyurl.com/6tvnx ).

This is surely thre beginning of the end for SCO, no?




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