SCO assets are less than the $26m Novell says it's owed
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SCO, which today released financial results for its Q4, said it burned about $10m in cash in fiscal 2006, which ended in October. About $12.3m of that was consumed funding lawsuits against IBM and Novell, which are contesting SCO's claim to intellectual property rights of Linux. That leaves the struggling company with about $12.6 in cash. (Some of the legal fees came out of an escrow account, explaining why legal fees were higher than over all cash burn.)
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