The SCO Group, Inc., announced today that on February 16, 2005,
the Company received a notice from the staff of The Nasdaq Stock
Market indicating that the Company is subject to potential
delisting from The Nasdaq SmallCap Market for failure to comply
with Nasdaq’s requirements to file its Form 10-K for the fiscal
year ended October 31, 2004 in a timely fashion, as required under
Market Place Rule 4310(c)(14). Receipt of the notice does not
result in immediate delisting of the Company’s Common Stock.
Nasdaq stated that, unless the Company requests a hearing on
Nasdaq’s delisting notice, the Company’s securities will be
delisted from the Nasdaq SmallCap Market at the opening of business
on February 25, 2005. As of the opening of business on February 18,
2005, an “E” will be appended to the end of the Company’s trading
symbol for its securities. Therefore, commencing on February 18,
2005, the trading symbol for the Company’s common stock will be
changed from “SCOX” to “SCOXE”.
“The Company expects to make a request for a hearing with the
Nasdaq Listing Qualifications Panel to appeal the Nasdaq staff’s
determination. This request will stay the delisting pending the
hearing and a determination by the Nasdaq Listing Qualifications
Panel. There can be no assurance that the Panel will grant the
Company’s request for continued listing.
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.
Related Story:
The Salt Lake Tribune: Missing Deadlines Puts SCO on the
Spot(Feb 17, 2005)