SCOsource numbers :-)

Message ID: 252135
Posted By: nobbutl
Posted On: 2005-04-01 18:03:00
Subject: SCOsource numbers :-)

Page 21

Revenue 829 ($'000)
Cost of revenue 19,743
Gross margin (deficit) (18,914)
Sales and marketing 1,232
Research and development 486
General and administrative 241
Other -
Total operating expenses 1,959
Income (loss) from operations (20,873)

Revenue from our SCOsource business decreased from $25,846,000 in fiscal year 2003 to $829,000 in fiscal year 2004. During fiscal year 2003, the revenue generated was primarily attributable to two large vendor licenses, and we did not close any similar transactions during fiscal year 2004. Revenue in fiscal year 2004 was primarily attributable to sales of our SCOsource IP licenses. Cost of revenue increased from $9,500,000 in fiscal year 2003 to $19,743,000 in fiscal year 2004, which was primarily attributable to increased legal fees incurred in connection with our SCO Litigation. Operating expenses for sales and marketing, research and development and general and administrative increased in fiscal year 2004 over fiscal year 2003 as certain employees were dedicated to this business initiative in fiscal year 2004. The other expense in fiscal year 2003 of $8,956,000 was attributable to a contingency fee payable to the Law Firms incurred in connection with the October 2003 issuance of our now retired Series A Convertible Preferred Stock. This fee was not for attorney’s fees for legal services which fees have been recorded as cost of SCOsource licensing revenue.

Here's the good bit -- Page 28

Cost of SCOsource Licensing Revenue
2004 19,743,000
2003 9,500,000
Change 108 %

Percentage of SCOsource licensing revenue
2004 2382 %
2003 37 %

Wheeeeeeeeee!!!! 2382%!!!!!!!

Message ID: 252145
Posted By: nobbutl
Posted On: 2005-04-01 18:19:00
Subject: Ralphie's New Career!

Page 89

Ralph J. Yarro III has served as the Chairman of the Board of Directors of the Company since August 1998. Mr. Yarro has served as an independent investor and business consultant since December 2004. Mr. Yarro previously served as the President and Chief Executive Officer of The Canopy Group, Inc., a management and resource company (“Canopy”), from August 1998 to December 2004. Mr. Yarro also served as a director of Canopy from August 1998 to March 2005. Mr. Yarro holds a B.A. degree in Political Science from Brigham Young University.

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