SCO secures vital Nasdaq meeting

25 Feb 2005

Buys a month to sort out financial irregularities

Unix company SCO has secured a stay of execution with a meeting with the Nasdaq Listing Qualifications panel during which it intends to straighten out its finances.

SCO had received notice from the Nasdaq that its failure to deliver its 10K financial report for the full year 2004 would led to the company's stock being suspended from the SmallCap market.

The company had always intended to arrange such a meeting which would give it another 30 days from when the notice was served 15 Feb.

SCO has set the date for 17 March, by which time its audit firm KPMG should have sorted out issues over an employee stock purchase plan that has been causing the delay in submitting the 10K.

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