SCO teeters on brink of Nasdaq delisting

SCO is waiting with bated breath today after a Nasdaq committee failed to make a decision on whether the software firm will be forced to quit the exchange over "delinquencies" in its accounting filings.

The company was preparing to participate in a hearing with the Nasdaq Listing Qualifications Panel regarding its possible delisting for a failure to file Form 10-K for the fiscal year ended October 31 2004 in a timely fashion.

At this hearing SCO outlined its plans for filing the relevant documentation, and discussed the late submission of its first-quarter Form 10-Q.

The firm then reported that it had received a notice from the Nasdaq staff regarding its failure to comply with the requirements.

SCO stated: "Pursuant to the notice, which did not result in the immediate delisting of the company's Common Stock, the Company was informed that the Panel will consider the filing delinquency of the Company's first quarter Form 10-Q in addition to the filing delinquency of the Company's Form 10-K in rendering its decision."

While SCO is awaiting this decision, it stressed that it will continue to be listed on the Nasdaq SmallCap market under the symbol 'SCOXE' pending the panel's ruling.

See also:

SCO regains Nasdaq listing

Return of the living dead  21 Apr 2005

Lawsuits push SCO to the brink

Legal battles have taken their toll  20 Apr 2005

SCO forced to restate 2004 accounts

Linux firm admits to 'certain accounting errors'  04 Mar 2005

Hackers deface SCO website

'We own all your code, pay us all your money'  29 Nov 2004

Like this story? Spread the news by clicking below:

 del.icio.us     Digg this     reddit!