SCO said that it has received a Nasdaq Staff Deficiency Letter on September 25 stating that the firm's price of its common stock has closed under $1.00 for the last 30 business days. Nasdaq granted SCO an initial period of 180 calendar days, or until March 24, 2008, to improve the bid price to a value of above $1.00 and regain compliance.

This is the second time SCO receives a Staff Deficiency Letter this year. The company said that it had received a letter with the same complaint on April 23, 2007 of this year, but was notified on June 11 that it had regained compliance on the $1.00 minimum bid price per share requirement.

SCO is currently dealing with a second Nasdaq complaint, because of the firm's recent move to file for bankruptcy protection. The company's common stock could be suspended from listing, pending a hearing SCO has requested.

SCO also recently replaced its chief financial officer Bert Young, who has left the company "to pursue new opportunities". Ken Nielsen joined SCO as interim chief financial officer from Forward Foods, where he held the position of chief finance officer.

Time to Buy?

Oct 01, 2007 17:34     

Hmmm, I don't know, but is this a company that looks like it might come back? Would buying 500 shares be giving my money away? lol Not a trader, just thought it was interesting. What do you all think?
Nick report abuse vote down vote up Votes: +0

Good Riddence

Oct 01, 2007 18:18     

I'm glad to see that this industry leech is finally in it's death throes. With all the court cases they were trying to wage so they could extort money from other companies for patents they didn't even hold. I think, just about the only quarter this company was profitable was when Microsoft settled the suit they had against them.
Clint Carlson report abuse vote down vote up Votes: +0