“In its latest filing with the U.S. Securities and Exchange
Commission, Ottawa-based Corel Corp. announced it could run out
of cash in 90 days if its merger with Scotts Valley, Calif.-based
Inprise/Borland Corp. doesn’t go through and current financial
troubles continue.“
“Corel recently posted a first-quarter loss of $12.4 million,
and in its 10-Q quarterly financial filing of April 19, the company
said it expected to post more losses over the next six months.”
“A former director of the company has filed suit trying to block
the merger, calling it “unfair.” On April 10, the two companies
announced that the merger waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976 had
expired.”