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Technology Stocks : SCO Group (SCOX) -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Petersen who wrote (98)	10/16/2003 12:40:12 PM
From: Dr. Voodoo	Respond to of 239

Uh, they backed off, because they didn't like the probability of being sued for fraud, in my opinion. See Groklaw. I'm picking up a different vibe from Stowell... notice how he says "The executives..." as opposed to "SCO" or "We".... Hmm... Anybody know if his resume is circulating??? Bahhhaahaaaaaaaaaaaaa!!!!!!!!!

To: Glenn Petersen who wrote (98)	10/17/2003 4:05:37 AM
From: Dr. Voodoo	Read Replies (2) \| Respond to of 239

SCO Group Attracts $50 Million in Placement By Ronna Abramson Staff Reporter 10/16/2003 06:47 PM EDT Click here for more stories by Ronna Abramson SCO Group (SCOX:Nasdaq - commentary - research) announced Thursday after the close that it nabbed $50 million in private funding, buying more time and money in its fight against IBM (IBM:NYSE - commentary - research) over the Linux operating system. SCO said the private investment was led by BayStar Capital, a Larkspur, Calif.-based investment fund that specializes in equity placements in publicly traded companies. The SCO investors receive nonvoting Series A preferred shares, convertible into common stock at a fixed conversion rate of $16.93 a share. That was the average closing bid price for the company's common stock for the five previous trading days prior to closing the deal. Shares of SCO declined 61 cents, or 3%, to close Thursday at $19.89 before declining slightly to $19.60 in after-hours trading. The private placement gives SCO a financial boost in its legal battle against IBM, bringing the company's cash balance to $61 million. Earlier this year, the Linden, Utah-based company sued IBM, charging that the technology behemoth breached a contract by misappropriating SCO's UNIX Code in IBM's Linux business. Upon conversion, BayStar will own nearly 3 million shares of SCO stock, or 17.5% of shares outstanding. The firm's past investments include Commerce One (CMRC:Nasdaq - commentary - research), Roxio (ROXI:Nasdaq - commentary - research), and both Sirius Satellite Radio (SIRI:Nasdaq - commentary - research) and XM Satellite Radio (XMSR:Nasdaq - commentary - research). thestreet.com un freaking believable!!!!