I got a new court doc today.  After 3 hours on the phone with Epic, I
called Fidelity.  SELL, b/c we would be lucky to get .06 per share.
You will get nothing, and he is right, it's going down!  The court
document said shareholders are at the bottome of list, especially new
owners( You bought it when it was OTC).  I was a loyal investor since
May 07, and was told by my Broker Agent that filling out the form will
better my chances, but there will be nothing left to give.

I have emailed Investor Relations 1 time per week for 4 months and
made countless phone calls.  No response.

SCO leaders, former and present, should be ashamed of themselves for
lying to Investors.  I wish everyone the best of luck, and I hope IBM
and Novell wipe SCO off the face of the Earth.  Their products have
always sucked, even with Patches(that actually broke more features
than it fixed)  Time to roll over and  die SCO.  Maybe we will get
lucky and some of them will go to jail for violation of SEC trade
agreements (You can't outright lie to Investors).

I got a new court doc today.  After 3 hours on the phone with Epic, I
called Fidelity.  SELL, b/c we would be lucky to get .06 per share.
You will get nothing, and he is right, it's going down!  The court
document said shareholders are at the bottome of list, especially new
owners( You bought it when it was OTC).  I was a loyal investor since
May 07, and was told by my Broker Agent that filling out the form will
better my chances, but there will be nothing left to give.

I have emailed Investor Relations 1 time per week for 4 months and
made countless phone calls.  No response.

SCO leaders, former and present, should be ashamed of themselves for
lying to Investors.  I wish everyone the best of luck, and I hope IBM
and Novell wipe SCO off the face of the Earth.  Their products have
always sucked, even with Patches(that actually broke more features
than it fixed)  Time to roll over and  die SCO.  Maybe we will get
lucky and some of them will go to jail for violation of SEC trade
agreements (You can't outright lie to Investors).

Thanks for the careful and complete explanation.

During the execution of a typical CH11 plan, a new series/class of
shares is issued and the existing ones are "retired".  The retired
shares then are worth their par value (which is to say they are worth
ZERO).  The old series of shares price rapidly declines to 0.0001 (the
smallest amount that can be registered in an OTC stock) and for
reasons beyond my understanding often remains "in the system" for
years afterwards, however it is truly worthless and dead.

SCOXQ is guaranteed this fate; it will in the coming weeks and months
ahead, drop to 0.0001 with 100 percent certainty.  What is not certain
is what compensation shareholders of SCOXQ will get.  Here are some
possibilities:

1. The proposed plan for SNCP buyout is approved, which is a plan to
refinance in return for taking the company private.  In this specific
plan, SNCP will be the sole owner of all 100% of the new series of
shares, and has alloted 1.5 million, plus "a portion of any litigation
it receives" to SCOXQ shareholders.  Based upon the current state of
affairs in its litigation, the maximum likely amount of litigation
awards is zero.  Given that, current holders of SCOXQ could be "cashed
out" at a price of around 0.0695 per share.  This is a generous deal
for SCOXQ shareholders, as there is no legal obligation to offer
anything to existing shareholders at all.

2. If the bankruptcy court and creditors do NOT approve of the plan
put forth, or the plan is not executed to satisfaction in reasonable
time, SCO will almost certainly file for CH7 bankruptcy
(liquidation).  Based upon SCO's existing financial situation this
means SCOXQ will immediately become worthless and there is absolutely
ZERO likelihood that shareholders will see even one penny of their
investment ever again because shareholders can only make claims to
what is left over after other creditors' claims are settled--and those
claims right now easily exceed the total value of SCO's assets right
now.

3. Sometimes, a CH11 reorg plan issues a publicly-traded series of
shares instead, or another existing public company acquires the
business operations, and if the old shareholders are lucky they will
get some amount of new shares in exchange for the old ones.  This is
very unlikely to happen in any CH11 case, but it is a possibility.
The new offering is typically only a fraction of what the market value
of the old stock was prior to reorg.  This is the least likely
outcome.

The best SCOXQ shareholders can count on, therefore, is to get 0.0695
(a nickel and a couple pennies) per share when cashed out.  If you
invested recently on the announcement of this plan at anything over
this price you are doing so in anticipation that SCO will somehow win
fairly big.  You'd be better off investing in a lottery ticket
however.  SNCP is sending some signals that it wants to exit the
litigation business relatively quickly.  It is appealing last fall's
decision ruling in favour of Novell, and I think the best they can
hope for is a reversal of the ruling indicating SCO owes Novell tens
of millions in fees.  Even if it can once again claim ownership of
UNIX copyrights there is no serious chance it can win big in the IBM
case.

If you happen to hold SCOXQ stock, I'm sorry for your loss and hope
you won't see too much hardship.  If you've short-sold SCO in the past
and have yet to cover, enjoy your windfall, but remember that with the
approval of this plan, you would now have been "forced to cover" and
you will at that point owe taxes on your gains.

Does anyone can explain what are the impacts for shareholders with
these new 100 million?

I read that SCO may go "private"; what does it exactly means?, do you
lose all your shares?, Is the company going to restart regardless of
the judge decision on April?

Thanks for any help on thiese topics :-)

What's the hurry?
I did not cover my shorts yet...

-1 - shill
-2 - off-topic
-3 - wrong finance group
-4 - mentioning Satan From Redmond(tm)
---------------------------------
score: -4

PLONK!!!!

MAC "MSP" TO MAKE ALL NEW APPLES WORK WITH ALL MICROSOFT PRODUCTS -
LAUNCH Q2 2008!
Source: Austin TX tech suppo0rt training center employee (confidential)

DIE SCO, DIE!!!! HAHAHAHAHAHAHAHAHAHA!

I may cover my shorts when it is $0.01.

The issue is that I am not sure what will be the influence on my
taxes.  Right now I have only "paper profit", but if I'll cover my
shorts then I'll have a real profit.  I'll have to ask an accountant.

It is traded OTC now... but who is going to buy even one piece, unless
for wallpaper, as it is cheaper than the paper it is printed on :)

Attila

blubb írta:

It happened today... SCOX is now SCOXQ.PK

Regards,

Thomas

SCO was going to be delisted for declaring chapter 11 bankruptcy, but
they appealed that decision and it's pending review.  I have not heard
any timeframe for when that will be decided.

However, SCO was also given notice that they would be delisted for
trading under $1 for too long.  At that point, they were given 180
days to get their stock up.  It's been about 90 days since then, so
it'll be another 90 days.  A little less.

Note that NASDAQ told SCO that just because their delisting for
chapter 11 was stayed, that did not mean they couldn't also be
delisted for other reasons.  So I think in February we should see them
delisted for being under $1, unless their appeal fails and they get
delisted for chapter 11 earlier than February.

I promise to invest the profit from my shorts in saving something (ok
my capital). Couldn't have said it better. I started shorting this
stock because of moral outrage that they would drag the likes of
Novell and IBM through the courts with such unfounded vexatious
claims. Please can someone show me the millions of lines of code that
they claim to have had stolen. I'm just sorry for the people that took
them at their word.

So who are the remaining investors that are valuing this dessicated
husk of a company so dearly? If you consider their current operating
loss, certain-to-be-incurred debts, future business prospects, and
inept management team, the fair market value of SCOX by any reasonable
model is precisely $0.00.

If you have cash to throw around and an appetite for risk, why not
take your money to Sand Hill Rd? They are investing in interesting
young companies that may actually have a shot at success. Furthermore,
when venture capitalists invest your money, they do so with a great
deal of protections such as liquidation preference and voting
interests, to ensure that even if the company has to be shut down, the
investors recover as much of their principal as possible. With SCOX,
you are going to be left with nothing if you hold.

Even if you WANT to lose your principal you could at least do so in a
manner potentially beneficial to society, such as investing in a
startup.

It saddens me that there are people like McBride in the world. But it
saddens me even more that people like you, who can allocate capital
however you please, choose to support him.