(Nasdaq: SCOXE) today announced it has filed with the Securities and Exchange
Commission amended Form 10-Q's for the quarters ended January 31, 2004,
April 30, 2004, and July 31, 2004, and filed its Form 10-K for the fiscal year
ended October 31, 2004. The report is more than two months late, having been due at the end of January -- 90 days after the close of the company's fiscal year on Oct. 31.
SCO came under Nasdaq scrutiny when it failed to meet Jan. 31 and Feb. 15 deadlines for the year-end report. On March 3, the company filed a special 8-K report with the SEC, acknowledging accounting problems were behind both delays, along with a need to restate portions of the first three quarters of 2004.
Note 2 to the condensed consolidated financial statements for each amended
Form 10-Q describes in detail the nature of each financial statement item that
has been restated.
As previously announced, the restatement did not impact
the Company's previously reported revenue, net loss or its earnings per share
for the fiscal year ended October 31, 2004 or its aggregate cash and available
for sale securities balances as of October 31, 2004.
NewsForge/ITMJ will have an analysis of the reports within a day or so.