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SCO's Postpetition Liabilities = $6 Million+ -- Tanner's Bills and SCO's Operating Reports

By Pamela Jones et al.

More bankruptcy filings from the 21st of December, including two bills from the accountants, Tanner LC, and SCO's most recent operating reports for SCO Group and SCO Operations.

Could you spreadsheet gurus take a look? I'm not so sure they have any dollars in the bank any more that aren't already spoken for. SCO seems to my inexpert eyes to be saying they have $4 million left in unrestricted cash and another $2 million restricted. But on pages 11, of SCO Operations' Report [PDF], I see SCO listing $6,602,271 as Total Postpetition Liabilities and page 13 lists them as unpaid. There's a little over $2 million in pre-petition liabilities also. (The same page lists $13 million or so in current assets, but that's counting things like furniture.)

So, does that mean they've managed to pretty much blow it all just on the eve of the resumption of the Utah litigation? That's quite an achievement. Of course, they had quite a bit of help.

Wait, so ... what can Novell possibly get from the Utah court? SCO's furniture? Actually, if the res of any constructive trust is restricted, as SCO hopes, to the exact dollars Sun Microsystems and Microsoft paid for their licenses in 2003, might SCO now argue that every last farthing is gone? Poof. Well, I declare. Genius.

Full post as published by Groklaw on December 25, 2007 (boomark / email).