SCO stock scam theory
Message ID: 10420
Posted By: walterbyrd
Posted On: 2003-06-02 16:54:00
Subject: SCO stock scam theory:
Recs: 2
from linuxtoday.com:
http://linuxtoday.com/news_story.php3?ltsn=2003-05-17-002-26-OP-CD-LL-0052
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I would tend to believe with the SCO stock scam theory:
3 yearly and 150 day share price:
http://www.wsrn.com/apps/charts/index.xpl?s=SCOX&data=D
Note the price jump after Feb 18th then SCO started talking about recovering revenue from IP rights, and again on March 7th when SCO announced it was suing IBM. There have also been reports of SCO making a filing that would allow offloading of SCO stock by two major shareholders (presumably Ralph Yarro and Ray Noorda):
Insider ownership is 68.01%
http://moneycentral.msn.com/in vestor/invsub/owners hip/ownership.asp?Sy mbol=SCOX
Chairman Ralph Yarro and former director Ray Noorda share control of 46% of the company through The Canopy Group, a venture capital firm
http://moneycentral.msn.com/investor/research/profile.asp?Symbol=SCOX
'SCO Group warned in a regulatory filing that its billion-dollar lawsuit alleging that IBM misappropriated trade secrets will be costly and could alienate others in the computing industry.
"Unintended consequences of our lawsuit against IBM may adversely affect our business," the seller of Unix and Linux products warned last week in a regulatory filing that permits two major shareholders to sell all their stock.'
ref: http://news.zdnet.co.uk/story/0,,t269-s2132758,00.html
SCO Chief Financial Officer sold off 7,000 and later 4,100 of his 245,000 SCO shares after the price jump.
ref: http://zdnet.com.com/2102-1104-992345.html
http://moneycentral.msn.com/investor/invsub/insider/trans.asp?Symbol=SCOX
http://mon eycentral.msn.com/in vestor/invsub/inside r/planned.asp?Symbol =SCOX
So you have an ailing company which is making heavy losses, 68% of shares are owned by insiders, it launches a bizarre lawsuit preceded strangely by a media PR offensive, and makes an SEC filing to allow insiders to sell shares. Instead of fighting the lawsuit in court and maintaining it's customer base, it mounts a media offensive which will lose SCO it's customer base and offend most of it's partners, the purpose of which can only sensibly be to push up share prices. Even more bizzarely SCO launches a media attack on other Linux distros and suspends it's own Linux distro without even filing a lawsuit against the other Linux distros. This is all very strange if you actually intend to extract IP revenue from lawsuits, but perfectly sensible if it is all just a scam to push up share prices. To top that SCO's chief financial officer is busy offloading his shares. Now all of this looks to me suspiciously like the rats are preparing to desert a sinking ship.
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The text of this Yahoo Message Board post has been licensed for
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Posted By: walterbyrd
Posted On: 2003-06-02 16:54:00
Subject: SCO stock scam theory:
Recs: 2
from linuxtoday.com:
http://linuxtoday.com/news_story.php3?ltsn=2003-05-17-002-26-OP-CD-LL-0052
-------------------------------------------
I would tend to believe with the SCO stock scam theory:
3 yearly and 150 day share price:
http://www.wsrn.com/apps/charts/index.xpl?s=SCOX&data=D
Note the price jump after Feb 18th then SCO started talking about recovering revenue from IP rights, and again on March 7th when SCO announced it was suing IBM. There have also been reports of SCO making a filing that would allow offloading of SCO stock by two major shareholders (presumably Ralph Yarro and Ray Noorda):
Insider ownership is 68.01%
http://moneycentral.msn.com/in vestor/invsub/owners hip/ownership.asp?Sy mbol=SCOX
Chairman Ralph Yarro and former director Ray Noorda share control of 46% of the company through The Canopy Group, a venture capital firm
http://moneycentral.msn.com/investor/research/profile.asp?Symbol=SCOX
'SCO Group warned in a regulatory filing that its billion-dollar lawsuit alleging that IBM misappropriated trade secrets will be costly and could alienate others in the computing industry.
"Unintended consequences of our lawsuit against IBM may adversely affect our business," the seller of Unix and Linux products warned last week in a regulatory filing that permits two major shareholders to sell all their stock.'
ref: http://news.zdnet.co.uk/story/0,,t269-s2132758,00.html
SCO Chief Financial Officer sold off 7,000 and later 4,100 of his 245,000 SCO shares after the price jump.
ref: http://zdnet.com.com/2102-1104-992345.html
http://moneycentral.msn.com/investor/invsub/insider/trans.asp?Symbol=SCOX
http://mon eycentral.msn.com/in vestor/invsub/inside r/planned.asp?Symbol =SCOX
So you have an ailing company which is making heavy losses, 68% of shares are owned by insiders, it launches a bizarre lawsuit preceded strangely by a media PR offensive, and makes an SEC filing to allow insiders to sell shares. Instead of fighting the lawsuit in court and maintaining it's customer base, it mounts a media offensive which will lose SCO it's customer base and offend most of it's partners, the purpose of which can only sensibly be to push up share prices. Even more bizzarely SCO launches a media attack on other Linux distros and suspends it's own Linux distro without even filing a lawsuit against the other Linux distros. This is all very strange if you actually intend to extract IP revenue from lawsuits, but perfectly sensible if it is all just a scam to push up share prices. To top that SCO's chief financial officer is busy offloading his shares. Now all of this looks to me suspiciously like the rats are preparing to desert a sinking ship.
------------------------------------------------------------
The text of this Yahoo Message Board post has been licensed for
copying and distribution by the Yahoo Message Board user "walterbyrd"
under the following license:
License: CC Attribution-NonCommercial-ShareAlike v2.0
------------------------------------------------------------