BroadVision, Inc. (OTCBB:BVIS), a global provider of web self-service solutions announced today that it has received notification from the NASDAQ Stock Market that its common stock has been approved for re-listing onto the NASDAQ Global Market. The company's common stock will begin trading on NASDAQ on Monday, November 10, 2008 under the symbol BVSN.
"We are very pleased to have completed the re-listing process onto the NASDAQ Global Market, which should help improve both visibility and liquidity of our stock," said Dr. Pehong Chen, President and CEO of BroadVision. "Over the past three years, we have built a strong balance sheet with eleven consecutive quarters of positive cash flow. Our end-of-September cash position of $62.5 million is 13-times the balance of $4.8 million on December 31, 2005, when we embarked on our turnaround effort. This solid foundation will enable us to not only survive the current economic downturn, but to come out a stronger company with sustainable growth. We look forward to the opportunity of sharing our story and plans with more investors upon our return to NASDAQ."
About BroadVision
Driving innovation since 1993, BroadVision is a global provider of e-business solutions. Our modular applications and agile toolsets, built on a robust framework for personalization and self-service, power mission-critical web initiatives that deliver unparalleled value to diverse customers worldwide. Hundreds of organizations, serving over 50 million registered users "” including Baker Hughes, Bio-Rad Laboratories, Fiat, Hilti, Iberia, ING Bank, PETCO, Prime Polymer, Verifone, and Xerox "” rely on BroadVision as their platform of choice for e-business. Our innovative product portfolio includes web self-service solutions; e-Commerce platform software; contextual and incentive messaging solutions; and on-demand, workforce relationship management solutions.
For more information about BroadVision, Inc., call 1-650-331-1000; e-mail ir1@broadvision.com or visit www.broadvision.com.
Information Concerning Forward-Looking Statements
Information in this release that involves expectations, beliefs, hopes, plans, intentions or strategies regarding the future are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which forward-looking statements involve risk and uncertainties. All forward-looking statements included in this release, including, but not limited to, expectations regarding satisfaction of the minimum bid price requirement for re-listing on the NASDAQ global market, are based upon information available to BroadVision as of the date of this release, and BroadVision assumes no obligation to update or correct any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from BroadVision's current expectations. Various factors and risks associated with BroadVision's business are discussed in its most recent annual report on Form 10-K and in BroadVision's quarterly reports on Form 10-Q as filed with the Securities and Exchange Commission.
