Ronna Abramson

Try Jim Cramer's Action Alerts PLUS
CLICK HERE NOW

Lindows Cuts IPO Price Range

08/12/04 - 12:14 PM EDT

Ronna Abramson

Since its first filing, however, the legal front has improved for Lindows. In July, the company reached an agreement with Microsoft(MSFT - Cramer's Take - Stockpickr) to change its name to Linspire by Sept. 14. That settlement ended 2 1/2 years of litigation that began when Microsoft sued Lindows, complaining its name was too similar to its flagship Windows product. Microsoft agreed to pay Lindows $20 million -- a drop in the bucket for the world's largest software maker -- in exchange for changing its name.

Lindows also became embroiled in a lawsuit with its insurance carrier over coverage of legal fees, which is still winding its way through court.

But Lindows still faces stiff competition from Microsoft, whose Windows franchise dominates the desktop market.

And in a note that doesn't bode well for the company on the financial front, Lindows' auditor, PricewaterhouseCoopers, said the company's recurring losses, negative working capital and accumulated deficit "raise substantial doubt about the company's ability to continue as a going concern."

For the quarter ending March 31, the company generated $1 million in revenue, more than three times the $311,673 in revenue posted a year earlier. But the company's net loss in the quarter grew to $1.6 million from $1.4 million a year earlier.

1 2
» Next

Ronna Abramson

Next Story

Lindows Shelves IPO



08/05/08
Three Internet Stocks That Could Double

These forgotten Internet stocks are being accumulated by hedge funds.


08/15/08
The Five Dumbest Things on Wall Street

Raspberries for Apple; You'll be sorry, UBS; Fortress or Fort Knox? Wholly unappetizing Foods; give Liberty AOL or give them...


08/15/08
McCain Fund-Raising Picks Up

The GOP presidential candidate raised $27 million in July.


08/15/08
Cash-Back Cards Aren't Money in the Bank

Some credit and debit cards give you some cash back on purchases. But you need to manage it well to benefit from it.


Back to Yahoo

Your Recent Quotes: Quote Up0 | Quote Down0
Dow S&P 500 NASDAQ
Oil*
Gold
10 Yr
0.00%
%
%
%
Data delayed 20 min
Sign up for our FREE newsletters now. See All

  • Cramer's Daily Booyah!
  • Before the Bell

Premium Stock Ideas
Access Action Alerts Plus to find out Cramer’s latest picks now!