SCO Admits It May Be Going Under

"A few days late, SCO finally released its financial report, Form 10-Q, on Sept. 18 for the quarter ending on July 31. The news was bad. How bad? SCO admits that 'there is substantial doubt about the company's ability to continue as a going concern.'

"According to SCO's 10-Q report to the SEC (Security and Exchange Commission), SCO's losing its claims to Unix's IP (intellectual property) to Novell in the U.S. District Court on Aug. 10 and its recent court filing for Chapter 11 bankruptcy, make it questionable that the company will survive..."

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Related Stories:

• Linux-Watch: Novell's NASDAQ Headaches(Sep 22, 2006)
• internetnews.com: SCO Hands in Its Homework(Apr 04, 2005)
• PR: SCO Announces Restatement of Financial Statements to Correct Certain Accounting Errors(Mar 03, 2005)