SCO admits they may go under

By Justin Mann on September 19, 2007, 7:53 PM
In what is undoubtedly the least surprising story of the week, SCO has admitted today that the company may go under. While SCO is claiming whether or not they will be run out of business is dependent on how much the courts say they owe Novell, in reality we know that SCO is going under due to their own market strategy that has been dooming them for years.

Despite the fact this is not a surprise to anyone, it was still quite amusing to see it coming from them:

”If we require additional financing during the Chapter 11 cases and we are unable to obtain the financing on favorable terms or at all, our chances of successfully reorganizing our businesses may be seriously jeopardized."
They revealed more details about the declining state of their business as well, such as continued drops in income from business pursuits. It will take a bit of a miracle to save SCO.

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