We are entering some sort of end game with SCO. RBC (Royal Bank of Canada), one of the preferred convertible stock holders (with Baystar), has called for conversion of their stock to common at $13.50 per share. That's nearly 800,000 shares of stock that closed below $6 today, which means they stand to lose $6 million if they get out now.
Additionally, they sold 10,000 shares to Baystar, which gives Baystar, a predatory VC firm, a huge block of SCO's stock. Baystar recently called for changes in the top management at SCO to concentrate on the IP litigation as the core business. Baystar is also entirely too cozy with the Dark Lords in Redmond to say that all this manuvering is just business. Something has been cooked up between Baystar, Canopy, and Microsoft, and when three founts of pure evil come together it does not bode well for the innocent.
We will see soon enough what malice this will bring.
Posted on May 7, 2004 11:44 PM