SCO avoids Nasdaq delisting for now

A spokesSCO said that it had got a note from Nasdaq bigwigs saying that it has fulfilled the requirements for maintaining its listing.

SCO was in deep do-do after the Nasdaq officials threatened to pull the listing because SCO's share price had fallen below the $1-per-share mark for 30 days.

But the firm has managed to flog a few shares for more than a buck for the last couple of weeks so as far as the Nasdaq is concerned everything is peachy.

Last week, SCO reported a second-quarter loss of $1.1 million on revenue of $6 million. Most of the money has been poured into costly court cases against the likes of Novell and Biggish Blue over Linux code which SCO claims belongs to it.

So far SCO has spent more than $11 million in court cases and says that if it loses it will go under. Its current legal efforts appear to be the legal equivalent of playing the "do or die" card from the board game 'Escape from Colditz'. Most people following the case rate the outfit's chances of winning using terms involving the life expectancy of a bat during a negative afterlife experience.

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