The Lindon, Utah-based company, which is embroiled in a long-running legal battle with IBM Corp, said it plans to request a hearing with the Nasdaq listing panel to appeal the stock market’s decision.
SCO has failed to file its Form 10-K for the fiscal year ended October 31, 2004 despite requesting an additional 15 days to file the form on January 31. The reason for the delay, according to SCO, is that it needs more time to examine matters related to its stock compensation plans.
The company… continues to examine certain matters related to the issuance of share in the company’s common stock pursuant to its equity compensation plans, SCO said in a statement.
If the company fails to request a hearing on the delisting notice, its stock will be delisted from the Nasdaq SmallCap market on February 25. As of today, the company’s stock is now trading under the stock symbol SCOXE.
SCO said it expects to file its 10-K upon completion of its analysis of stock compensation details, but did not give a timescale for its filing.
