SCO’s finances reverse as legal fees mount

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SCO's finances reverse as legal fees mount

As its legal fees mount and Unix System V licensing revenue drops, SCO Group has developed a multipart plan to keep the company fiscally fit enough to continue its legal battles against Linux and to develop its Unix-on-Intel operating systems.

In addition to making several new Unix product announcements during its third quarter, ended July 31, SCO exchanged 40,000 shares of SCO Series A-1 convertible preferred stock owned by BayStar Capital LP for $13 million in cash. It also revised its fee agreement with its lead law firm Boies, Schiller & Flexner, and adopted a shareholder-rights plan.

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