Silicon Valley pioneer Silicon Graphics may face bankruptcy or even a sale of the company if it fails in its 2006 restructuring plans, the company said this week.
In a 10Q regulatory document filed Wednesday with the Securities and Exchange Commission, the graphics pioneer said that it may run out of cash by the end of the year.
SGI valued its current assets at $452.1 million as of June 2005. By Decembr 2005, the value of the assets had sunk to $397.3 million, a decrease of 12 percent.
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Bankruptcy appears to be a real option for loss-making Silicon Graphics, as it tries to plan its future.
Silicon Graphics (SGI), once a leading light of the supercomputing world, has admitted that its financial situation is so grim that it could be forced into bankruptcy.
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SGI issued its most ominous regulatory filing to date, warning that a bad 2006 could force the former high-flyer into bankruptcy.
In order to improve its business, SGI will consider measures ranging from axing or selling off product lines to pursuing “a strategic partner or acquirer.” The hardware maker will basically look at anything and everything to remain a going concern.
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To add significant computing and storage capacity to existing life sciences research infrastructure, the Bioinformatics Consortium at the University of Missouri recently purchased high-performance computing technology from Silicon Graphics (OTC: SGID) and an SGI

Wilfrid Laurier University (WLU), one of 14 Ontario universities and colleges on the growing Shared Hierarchical Academic Research Computing Network (SHARCNET) grid, has chosen technology from Silicon Graphics (OTC: SGID) for computational
sciences, including mathematical modeling, nanotechnology, biology, quantum physics, chemistry, and a wide variety of scientific research projects.
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