Current Report Filing (8-k)

Date : 04/11/2019 @ 4:58PM
Source : Edgar (US Regulatory)
Stock : BroadVision Inc (BVSN)
Quote : 3.37  -0.63 (-15.75%) @ 4:00AM
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Current Report Filing (8-k)









Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934








Date of Report (Date of Earliest Event Reported):


April 8 ,   201 9


BroadVision, Inc.


(Exact name of registrant as specified in its charter)







00 1-34205



(State or other jurisdiction




(I.R.S. Employer

of incorporation)

File Number)

Identification No.)




 460 Seaport Ct, Suite 102,  

Redwood City, California 




(Address of principal executive offices)



(Zip Code)








Registrant's telephone number, including area  code:


(650) 331-1000



Former name or former address, if changed since last report



Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: 

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).  

      Emerging growth company  [  ]  

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  [  ]  



Item 3.01   Notice of Delisting or Failure to Satisfy a Continued Listing Rule of Standard; Transfer of Listing .  


On April 8, 2019 ,   BroadVision, Inc. (the “Company”) received a letter (the “Letter”) from the Listin g Qualifications Department of T he  Nasdaq Stock Market (“ Nasdaq”) indicating that the Company no longer complies with the minimum stockholders’ equity requirement under  Nasdaq  Listing Rule  5550( b)( 1) for continued listing on The  Nasdaq  Capital Market because the Company’s stockholders’ equity of $1,401,000 as reported in the Company’s Annual Report on Form 10-K for the year ended December 31 , 2018 is below the required minimum of $2,500,000 , and as of April 4, 2019 the Company does not meet the alternatives of market value of listed securities or net income from continuing operations.

In accordance with  the Nasdaq  Listing Rules, the Company has 45 calendar days, or until May 23, 2019 , to submit a plan to regain compliance. If the Company’s plan is accepted,  Nasdaq may grant the Company an extension of up to 180 calendar days from the date of the Letter to evidence compliance.

If the Company’s plan to regain compliance with the minimum stockholders’ equity standard is not accepted or if it is accepted but the Company does not regain compliance by the end of the extension granted by  Nasdaq, or if the Company fails to satisfy another  Nasdaq requirement for continued listing,  Nasdaq staff could provide notice that the Company’s common shares will become subject to delisting. In such event,  Nasdaq rules permit the Company to appeal the decision to reject its proposed compliance plan or any delisting determination to a  Nasdaq  hearings p anel. Accordingly, there can be no guarantee that the Company will be able to maintain its  Nasdaq listing.







Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



















BroadVision, Inc.






April 9 , 201 9




/s/ Pehong Chen










Name: Pehong Chen





Title: President, Chief Executive Officer and Interim Chief Financial Officer



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