Message ID: 256517
Posted By: heimdal31
Posted On: 2005-04-15 21:50:00
Subject: Attn: Steve Stites

<<The repurchase agreement was illegal. See section 7. F. of my SEC complaint.

h++p://users.rcn.com/srstites/jacuse/sec.complaint.v4.html>>

Steve,

I'm only halfway through your complaint, and I must say it is brilliant. I still think you are probably wrong about the S-3, but that is nothing compared to some of the other material you have put together.

As I said, I'm only halfway through, but there are two things I'm surprised I haven't seen mentioned yet. First the Sun and MS licenses that helped to kick the stock bubble off were treated by Morgan Keegan as senior debt or loans--not licensing deals. (See www.threenorth.com/sco/timeline.html)

Also, and I don't have a reference handy, but I can dig it up, the 200K (400K?) shares that BSF was getting in partial payment came out of SCO's employee stock pool. BSF never got those, becuase the time they were to have matured, they were worth much less.

You may have both points, but I would have expected to have seen them already.

His complaint is lengthy, but is incredibly detailed. I recommend it to everyone here. He has some good info on RBC that I've not seen posted here before and he has a suggestion that SCO released two sets of numbers for their pre-Q4 press releases. I'm following this post with a quote of that from Steve's complaint, but if true, some of us should have copies of the earlier one.


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