þ
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
o
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|
|
|
Delaware
|
|
94-3184303
|
(State
or other jurisdiction of
|
|
(I.R.S.
Employer
|
incorporation
or organization)
|
|
Identification
Number)
|
|
|
|
1600
Seaport Blvd., 5th Floor, North
Bldg.
|
|
94063
|
Redwood
City, California
|
|
|
(Address
of principal executive offices)
|
|
(Zip
code)
|
March
31,
|
December
31,
|
||||||
2007
|
2006
|
||||||
(unaudited)
|
*
|
||||||
ASSETS
|
|
|
|||||
Current
assets:
|
|||||||
Cash
and cash equivalents
|
$
|
41,017
|
$
|
37,003
|
|||
Accounts
receivable, less allowance for doubtful accounts of $744 as of
March 31, 2007 and $1,141 as of December 31,
2006
|
10,552
|
10,106
|
|||||
Prepaids
and other
|
1,149
|
1,108
|
|||||
Restricted
cash, current portion
|
796
|
997
|
|||||
Total
current assets
|
53,514
|
49,214
|
|||||
Property
and equipment, net
|
1,104
|
1,144
|
|||||
Restricted
cash, net of current portion
|
1,000
|
1,000
|
|||||
Goodwill
|
25,066
|
25,066
|
|||||
Other
assets
|
496
|
518
|
|||||
Total
assets
|
$
|
81,180
|
$
|
76,942
|
|||
LIABILITIES
AND STOCKHOLDERS' EQUITY
|
|||||||
Current
liabilities:
|
|||||||
Accounts
payable
|
$
|
1,373
|
$
|
1,249
|
|||
Accrued
expenses
|
8,888
|
10,538
|
|||||
Warrant
liability
|
8,953
|
1,610
|
|||||
Unearned
revenue
|
6,403
|
6,278
|
|||||
Deferred
maintenance
|
10,851
|
10,584
|
|||||
Total
current liabilities
|
36,468
|
30,259
|
|||||
Other
non-current liabilities
|
3,028
|
3,429
|
|||||
Total
liabilities
|
39,496
|
33,688
|
|||||
Commitments
and contingencies
|
|||||||
Stockholders'
equity:
|
|||||||
Convertible
preferred stock, $0.0001 par value; 1,000 shares authorized as
of March
31,2007 and 10,000 shares authorized as of December 31, 2006;
none issued
and outstanding
|
-
|
-
|
|||||
Common
stock, $0.0001 par value; 280,000 shares authorized and 107,376
shares
issued and outstanding as of March 31,2007; 2,000,000 shares
authorized
and 106,523 shares issued and outstanding as of December 31,
2006
|
10
|
10
|
|||||
Additional
paid-in capital
|
1,253,697
|
1,253,135
|
|||||
Accumulated
other comprehensive income
|
142
|
168
|
|||||
Accumulated
deficit
|
(1,212,165
|
)
|
(1,210,059
|
)
|
|||
Total
stockholders' equity
|
41,684
|
43,254
|
|||||
Total
liabilities and stockholders' equity
|
$
|
81,180
|
$
|
76,942
|
|||
* Derived from audited consolidated financial statements filed in the Company's 2006 Annual Report on Form 10-K. |
Three
Months Ended March 31,
|
|||||||
2007
|
2006
|
||||||
Revenues:
|
|
|
|||||
Software
licenses
|
$
|
5,733
|
$
|
2,882
|
|||
Services
|
7,012
|
9,742
|
|||||
Total
revenues
|
12,745
|
12,624
|
|||||
Cost
of revenues:
|
|||||||
Cost
of software licenses
|
12
|
62
|
|||||
Cost
of services
|
2,393
|
4,058
|
|||||
Total
cost of revenues
|
2,405
|
4,120
|
|||||
Gross
profit
|
10,340
|
8,504
|
|||||
Operating
expenses:
|
|||||||
Research
and development
|
2,655
|
2,631
|
|||||
Sales
and marketing
|
2,069
|
2,381
|
|||||
General
and administrative
|
1,067
|
1,738
|
|||||
Restructuring
charge
|
278
|
490
|
|||||
Total
operating expenses
|
6,069
|
7,240
|
|||||
Operating
income
|
4,271
|
1,264
|
|||||
Interest
income, net
|
355
|
107
|
|||||
Loss
on revaluation of warrants
|
(7,343
|
)
|
(370
|
)
|
|||
Other
income, net
|
277
|
|
36
|
||||
(Loss)
income before provision for income taxes
|
(2,440
|
)
|
1,037
|
||||
Provision
for income taxes
|
(56
|
)
|
(156
|
)
|
|||
Net
(loss) income
|
$
|
(2,496
|
)
|
$
|
881
|
||
Basic
(loss) income per share
|
$
|
(0.02
|
)
|
$
|
0.02
|
||
Diluted
(loss) income per share
|
$
|
(0.02
|
)
|
$
|
0.02
|
||
Shares
used in computing:
|
|||||||
Weighted
average shares-basic
|
106,667
|
42,958
|
|||||
Weighted
average shares-diluted
|
106,667
|
43,068
|
|||||
Comprehensive
(loss) income:
|
|||||||
Net
(loss) income
|
$
|
(2,496
|
)
|
$
|
881
|
||
Other
comprehensive (loss) gain, net of tax:
|
|||||||
Foreign
currency translation adjustment
|
(26
|
)
|
16
|
|
|||
Total
comprehensive (loss) income
|
$
|
(2,522
|
)
|
$
|
897
|
Three
Months Ended March 31,
|
|||||||
2007
|
2006
|
||||||
Cash
flows from operating activities:
|
|
|
|||||
Net
(loss) income
|
$
|
(2,496
|
)
|
$
|
881
|
||
Adjustments
to reconcile net income (loss) to net cash provided by operating
activities:
|
|||||||
Depreciation
and amortization
|
532
|
268
|
|||||
(Reversal
of) provision for receivable reserves
|
(397
|
)
|
41
|
||||
Stock
based compensation
|
300
|
168
|
|||||
Loss
on sale of fixed assets
|
3
|
-
|
|||||
Loss
on revaluation of warrants
|
7,343
|
370
|
|||||
Changes
in operating assets and liabilities:
|
|||||||
Accounts
receivable
|
(50
|
)
|
(469
|
)
|
|||
Prepaids
and other
|
(35
|
)
|
(29
|
)
|
|||
Other
non-current assets
|
17
|
109
|
|||||
Accounts
payable and accrued expenses
|
(1,104
|
)
|
(974
|
)
|
|||
Restructuring
accrual
|
(125
|
)
|
(314
|
)
|
|||
Unearned
revenue and deferred maintenance
|
392
|
5,406
|
|||||
Other
noncurrent liabilities
|
(544
|
)
|
455
|
||||
Net
cash provided by operating activities
|
3,836
|
5,912
|
|||||
Cash
flows from investing activities:
|
|||||||
Purchases
of property and equipment
|
(495
|
)
|
(21
|
)
|
|||
Transfer
from restricted cash
|
201
|
-
|
|||||
Net
cash used for investing activities
|
(294
|
)
|
(21
|
)
|
|||
Cash
flows from financing activities:
|
|||||||
Repayments
of bank line of credit, term debt, and convertible notes
|
-
|
(112
|
)
|
||||
Proceeds
from issuance of common stock, net
|
498
|
-
|
|||||
Net
cash provided by (used for) financing activities
|
498
|
(112
|
)
|
||||
Effect
of exchange rates on cash and cash equivalents
|
(26
|
)
|
16
|
||||
Net
increase in cash and cash equivalents
|
4,014
|
5,795
|
|||||
Cash
and cash equivalents at beginning of period
|
37,003
|
4,849
|
|||||
Cash
and cash equivalents at end of period
|
$
|
41,017
|
$
|
10,644
|
|||
Supplemental
information of noncash financing and investing
activities:
|
|||||||
Exchange
of convertible debt to common stock
|
$
|
-
|
$
|
20,535
|
|||
Reclassification
of tax liability to accumulated deficit
|
$ | 388 | $ | - | |||
Conversion
of accrued interest to equity
|
$
|
-
|
$
|
196
|
Three
Months Ended March 31,
|
|||||||
2007
|
2006
|
||||||
Cost
of services
|
$
|
53,822
|
$
|
24,270
|
|||
Research
and development
|
122,236
|
73,830
|
|||||
Sales
and marketing
|
67,932
|
38,370
|
|||||
General
and administrative
|
55,856
|
31,530
|
|||||
|
$
|
299,846
|
$
|
168,000
|
Three
Months Ended March 31,
|
||||||||
2007
|
2006
|
|||||||
Expected
life (in years)
|
|
6.00
|
|
|
6.00
|
|
||
Risk-free
interest rate
|
4.77
|
%
|
4.81
|
%
|
||||
Expected
volatility
|
|
101.00
|
%
|
|
83.40
|
%
|
||
Expected
dividend
|
-
|
%
|
-
|
%
|
||||
Forfeiture
rate
|
|
9.00
|
%
|
|
11.00
|
%
|
Date
|
Options
|
Options
|
Vesting
Period
|
||||||||||
Granted
|
Granted
|
Price
|
Vested
|
(months)
|
|||||||||
6/23/1999
|
500,000
|
$
|
60.00
|
500,000
|
60
|
||||||||
5/25/2001
|
500,000
|
66.51
|
500,000
|
48
|
|||||||||
11/27/2001
|
4,444
|
35.01
|
4,444
|
24
|
|||||||||
2/19/2002
|
55,555
|
18.63
|
55,555
|
48
|
|||||||||
10/30/2002
|
644,445
|
2.16
|
644,445
|
48
|
|||||||||
Totals
|
1,704,444
|
1,704,444
|
Three
Months Ended,
|
|||||||||||||
March
31, 2007
|
|||||||||||||
Weighted
-
|
|||||||||||||
Weighted
-
|
Average
|
Aggregate
|
|||||||||||
Options
|
Average
|
Remaining
|
Intrinsic
|
||||||||||
Shares
|
Exercise
|
Contractual
|
Value
|
||||||||||
|
('000)
|
Price
|
Term
|
('000)
|
|||||||||
Outstanding
at December 31, 2006
|
6,239
|
$
|
13.48
|
-
|
$
|
-
|
|||||||
Granted
|
259
|
1.21
|
-
|
-
|
|||||||||
Exercised
|
(364
|
)
|
0.58
|
-
|
639
|
||||||||
Forfeited
|
(19
|
)
|
1.07
|
-
|
-
|
||||||||
Expired
|
(29
|
)
|
15.07
|
- | - | ||||||||
Outstanding
at March 31, 2007
|
6,086
|
$
|
13.76
|
7.12
|
$
|
7,545
|
|||||||
Vested
and expected to vest at March 31, 2007
|
5,958
|
$
|
14.03
|
7.07 |
$
|
7,297 | |||||||
Exercisable
at March 31, 2007
|
3,960
|
$
|
20.78
|
6.04
|
$
|
3,244
|
Three
Months Ended,
|
|||||||||||||
March
31, 2007
|
|||||||||||||
Weighted
-
|
|||||||||||||
Weighted
-
|
Average
|
Aggregate
|
|||||||||||
Options
|
Average
|
Remaining
|
Intrinsic
|
||||||||||
Shares
|
Exercise
|
Contractual
|
Value
|
||||||||||
|
('000)
|
Price
|
Term
|
('000)
|
|||||||||
Outstanding
at December 31, 2006
|
765
|
$
|
9.70
|
-
|
$
|
-
|
|||||||
Granted
|
-
|
-
|
-
|
-
|
|||||||||
Exercised
|
(90
|
)
|
1.19
|
-
|
149
|
||||||||
Forfeited
|
(14
|
)
|
6.33
|
-
|
-
|
||||||||
Expired
|
- | - | - | - | |||||||||
Outstanding
at March 31, 2007
|
661
|
$
|
10.93
|
7.05
|
$
|
962
|
|||||||
Vested
and expected to vest at March 31, 2007
|
651
|
$
|
17.36
|
7.02 |
$
|
409 | |||||||
Exercisable
at March 31, 2007
|
409
|
$
|
11.09
|
5.79
|
$
|
940
|
Three
Months Ended March 31,
|
|||||||
2007
|
2006
|
||||||
Net
(loss) income
|
(2,496
|
)
|
881
|
||||
Weighted-average
common shares outstanding used to compute basic (loss) income per
share
|
106,667
|
42,958
|
|||||
Weighted-average
common equivalent shares from outstanding common stock options
and
warrants
|
-
|
110
|
|||||
Total
weighted-average common and common equivalent shares outstanding
used to
compute diluted loss per share
|
106,667
|
43,068
|
|||||
Basic
(loss) income per share
|
$
|
(0.02
|
)
|
$
|
0.02
|
||
Diluted
(loss) income per share
|
$
|
(0.02
|
)
|
$
|
0.02
|
Accumulated
Other
|
||||
Comprehensive Income
|
||||
Balance, December 31, 2006 |
$
|
168
|
||
Foreign
currency translation loss
|
(26
|
)
|
||
Balance,
March 31, 2007
|
$
|
142
|
March
31,
|
December
31,
|
||||||
2007
|
2006
|
||||||
(unaudited)
|
|||||||
Furniture
and fixtures
|
$
|
731
|
$
|
795
|
|||
Computers
and software
|
13,278
|
14,547
|
|||||
Leasehold
improvements
|
5,223
|
5,007
|
|||||
19,232
|
20,349
|
||||||
Less
accumulated depreciation and amortization
|
(18,128
|
)
|
(19,205
|
)
|
|||
$
|
1,104
|
$
|
1,144
|
March
31,
|
December
31,
|
||||||
2007
|
2006
|
||||||
(unaudited)
|
|||||||
Employee
benefits
|
$
|
1,085
|
$
|
961
|
|||
Commissions
and bonuses
|
860
|
885
|
|||||
Sales
and other taxes
|
1,171
|
2,000
|
|||||
Income
tax and tax contingency reserves (Note 7)
|
759
|
1,378
|
|||||
Restructuring
(Note 6)
|
1,162
|
1,272
|
|||||
Customer
advances
|
378
|
654
|
|||||
Other
|
3,473
|
3,388
|
|||||
Total
accrued expenses
|
$
|
8,888
|
$
|
10,538
|
Underlying
|
Exercise
|
||||||
Description
|
Shares
|
Price
per Share
|
|||||
Issued
to landlord in real estate buyout transaction in
August 2004
|
700,000
|
$
|
5.00
|
||||
Issued
to convertible notes investors in November 2004
|
4,206,811
|
1.48
|
|||||
Other
issued in connection with revenue transactions in 2000
|
620
|
435.98
|
|||||
Total
warrants
|
4,907,431
|
Three
Months Ended March 31,
|
|||||||
2007
|
2006
|
||||||
Warrants
related to the Notes
|
$
|
(6,660
|
)
|
$
|
(384
|
)
|
|
Warrants
related to real estate buyout
|
(683
|
) |
14
|
||||
Losses
on revaluation of warrants
|
$
|
(7,343
|
)
|
$
|
(370
|
)
|
March
31,
|
December
31,
|
||||||
2007
|
2006
|
||||||
(in
thousands)
|
|||||||
Restructuring
(Note 6)
|
$
|
1,274
|
$
|
1,290
|
|||
Deferred
maintenance and unearned revenue
|
1,158
|
1,739
|
|||||
Other
|
596
|
400
|
|||||
Total
other non-current liabilities
|
$
|
3,028
|
$
|
3,429
|
Operating
|
||||
Years
Ending December 31,
|
Leases
|
|||
2007
|
$
|
2.4
|
||
2008
|
1.9
|
|||
2009
|
1.7
|
|||
2010
|
1.3
|
|||
2011
and thereafter
|
1.6
|
|||
Total
minimum lease payments
|
$
|
8.9
|
Three
Months Ended
|
|||||||
March
31,
|
|||||||
2007
|
2006
|
||||||
Software
licenses
|
$
|
5,733
|
$
|
2,882
|
|||
Consulting
services
|
1,287
|
3,842
|
|||||
Maintenance
|
5,725
|
5,900
|
|||||
Total
revenues
|
$
|
12,745
|
$
|
12,624
|
Three
months ended
|
|||||||
March
31,
|
|||||||
2007
|
2006
|
||||||
Revenues:
|
|
|
|||||
Americas
|
$
|
6,910
|
$
|
10,019
|
|||
Europe
|
4,010
|
1,271
|
|||||
Asia/Pacific
|
1,825
|
1,334
|
|||||
Total
revenues
|
$
|
12,745
|
$
|
12,624
|
March
31,
|
December
31,
|
||||||
2007
|
2006
|
||||||
Long-Lived
Assets:
|
|
|
|||||
Americas
|
$
|
25,998
|
$
|
26,025
|
|||
Europe
|
104
|
104
|
|||||
Asia/Pacific
|
68
|
81
|
|||||
Total
long-lived assets
|
$
|
26,170
|
$
|
26,210
|
Current
|
Non-Current
|
Total
|
||||||||
Severance
and termination
|
$
|
0.4
|
$
|
-
|
$
|
0.4
|
||||
Excess
facilities
|
0.8
|
1.2
|
2.0
|
|||||||
Total
|
$
|
1.2
|
$
|
1.2
|
$
|
2.4
|
Total
future
|
||||
minimum
|
||||
Years
ending December 31,
|
payments
|
|||
2007
|
$
|
0.7
|
||
2008
|
0.5
|
|||
2009
|
0.4
|
|||
2010
|
0.2
|
|||
2011
and thereafter
|
0.2
|
|||
Total
minimum facilities payments
|
$
|
2.0
|
Amounts
|
|||||||||||||
Accrued
|
charged
to
|
||||||||||||
restructuring
|
restructuring
|
Accrued
|
|||||||||||
costs
|
costs
|
Amounts
paid
|
restructuring
|
||||||||||
beginning
|
and
other
|
or
written off
|
costs,
ending
|
||||||||||
Three
Months Ended March 31, 2007
|
|
|
|
|
|||||||||
Lease
cancellations and commitments
|
$
|
77
|
$
|
110
|
$
|
(69
|
)
|
$
|
118
|
||||
Termination
payments to employees and related costs
|
-
|
-
|
-
|
-
|
|||||||||
$
|
77
|
$
|
110
|
$
|
(69
|
)
|
$
|
118
|
|||||
Three
Months Ended March 31, 2006
|
|||||||||||||
Lease
cancellations and commitments
|
$
|
4,188
|
$
|
108
|
$
|
-
|
$
|
4,296
|
|||||
Termination
payments to employees and related costs
|
105
|
374
|
(376
|
)
|
103
|
||||||||
$
|
4,293
|
$
|
482
|
$
|
(376
|
)
|
$
|
4,399
|
Amounts
|
|||||||||||||
Accrued
|
charged
to
|
||||||||||||
restructuring
|
restructuring
|
Accrued
|
|||||||||||
costs,
|
costs
|
Amounts
paid
|
restructuring
|
||||||||||
beginning
|
and
other
|
or
written off
|
costs,
ending
|
||||||||||
Three
Months Ended March 31, 2007
|
|
|
|
|
|||||||||
Lease
cancellations and commitments
|
$
|
2,138
|
$
|
164
|
$
|
(336
|
)
|
$
|
1,966
|
||||
Termination
payments to employees and related costs
|
347
|
5
|
- |
352
|
|||||||||
$
|
2,485
|
$
|
169
|
$
|
(336
|
)
|
$
|
2,318
|
|||||
Three
Months Ended March 31, 2006
|
|||||||||||||
Lease
cancellations and commitments
|
$
|
2,651
|
$
|
8
|
$
|
(436
|
)
|
$
|
2,223
|
||||
Termination
payments to employees and related costs
|
311
|
-
|
8
|
319
|
|||||||||
$
|
2,962
|
$
|
8
|
$
|
(428
|
)
|
$
|
2,542
|
|
|
Aggregate
|
|
|
|
|||
|
|
Number
of
|
|
|
|
|||
|
|
Common
Shares
|
|
|
|
|||
|
|
Issuable
Under
|
|
|
Weighted
Average
|
|
||
|
|
Accelerated
Stock
|
|
|
Exercise
Price
|
|
||
|
|
Options
|
|
|
per
Share
|
|
||
Non-Employee
Directors
|
|
|
122,181
|
|
|
$
|
2.98
|
|
Named
Executive Officers
|
|
|
391,886
|
|
|
|
2.87
|
|
Directors
and Named Executive Officers
|
|
|
514,067
|
|
|
|
2.89
|
|
All
Other Employees
|
|
|
610,707
|
|
|
|
2.97
|
|
Total
|
|
|
1,124,774
|
|
|
|
2.94
|
|
March
31, 2007
|
December
31, 2006
|
|||||||
Fair
value
|
Fair
value
|
|||||||
Cash
and certificates of deposits
|
$
|
19,591
|
$
|
15,830
|
||||
Money
market
|
21,426
|
21,173
|
||||||
Total
cash and equivalents
|
$
|
41,017
|
$
|
37,003
|
Software
|
||||||||||||||||||||||||
Licenses
|
%
|
Services
|
%
|
Total
|
%
|
|||||||||||||||||||
Three
Months Ended:
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
March 31,
2007
|
||||||||||||||||||||||||
Americas
|
$
|
3,110
|
54
|
%
|
$
|
3,800
|
54
|
%
|
$
|
6,910
|
54
|
%
|
||||||||||||
Europe
|
1,855
|
32
|
2,155
|
31
|
4,010
|
31
|
||||||||||||||||||
Asia
Pacific
|
768
|
14
|
1,057
|
15
|
1,825
|
15
|
||||||||||||||||||
Total
|
$
|
5,733
|
100
|
%
|
$
|
7,012
|
100
|
%
|
$
|
12,745
|
100
|
%
|
||||||||||||
March 31,
2006
|
||||||||||||||||||||||||
Americas
|
$
|
2,265
|
79
|
%
|
$
|
7,754
|
80
|
%
|
$
|
10,019
|
79
|
%
|
||||||||||||
Europe
|
346
|
12
|
925
|
9
|
1,271
|
10
|
||||||||||||||||||
Asia
Pacific
|
271
|
9
|
1,063
|
11
|
1,334
|
11
|
||||||||||||||||||
Total
|
$
|
2,882
|
100
|
%
|
$
|
9,742
|
100
|
%
|
$
|
12,624
|
100
|
%
|
Three
Months Ended March 31,
|
||||||||||||||||
2007
|
%
|
2006
|
%
|
|||||||||||||
Cost
of software licenses
|
$
|
12
|
0
|
%
|
$
|
62
|
1
|
%
|
||||||||
Cost
of services
|
2,393
|
19
|
4,058
|
32
|
||||||||||||
Total
cost of revenues
|
$
|
2,405
|
19
|
%
|
$
|
4,120
|
33
|
%
|
Three
months ended
|
||||||||||||||
March
31,
|
||||||||||||||
2007
|
%(1)
|
2006
|
%(1)
|
|||||||||||
Research
and development
|
$
|
2,655
|
21
|
%
|
$
|
2,631
|
21
|
%
|
||||||
Sales
and marketing
|
2,069
|
16
|
2,381
|
19
|
||||||||||
General
and administrative
|
1,067
|
8
|
1,738
|
13
|
||||||||||
Restructuring
charges
|
278
|
2
|
490
|
4
|
||||||||||
Total
operating expenses
|
$
|
6,069
|
47
|
%
|
$
|
7,240
|
57
|
%
|
||||||
(1)
|
Expressed
as a percent of total revenues for the period
indicated
|
March
31,
|
December
31,
|
||||||
2007
|
2006
|
||||||
(unaudited)
|
|||||||
Cash
and cash equivalents
|
$
|
41,017
|
$
|
37,003
|
|||
Restricted
cash, current portion
|
$
|
796
|
$
|
997
|
|||
Restricted
cash, net of current portion
|
$
|
1,000
|
$
|
1,000
|
|||
Working
capital
|
$
|
17,046
|
$
|
18,955
|
|||
Working
capital ratio
|
1.47
|
1.63
|
Operating
|
||||
Years
Ending December 31,
|
Leases
|
|||
2007
|
$
|
2.4
|
||
2008
|
1.9
|
|||
2009
|
1.7
|
|||
2010
|
1.3
|
|||
2011
and thereafter
|
1.6
|
|||
Total
minimum lease payments
|
$
|
8.9
|
Exhibits
|
|
Description
|
3.1
(1)
|
|
Amended
and Restated Certificate of Incorporation.
|
3.2
(2)
|
|
Certificate
of Amendment of Certificate of Incorporation.
|
3.3
(4)
|
Certificate
of Amendment of Certificate of Incorporation.
|
|
3.4
(3)
|
|
Amended
and Restated Bylaws.
|
4.1
(1)
|
|
References
are hereby made to Exhibits 3.1 to 3.3
|
10.1
(5)
|
Sublease
dated December 21, 2006 between BroadVision, Inc. and Dexterra,
Inc.
|
|
10.2
(6)
|
Form
of Restricted Stock Bonus Agreement under 2006 Equity Incentive
Plan.
|
|
10.3
(6)
|
BroadVision,
Inc. Severance Benefit Plan.
|
|
10.4
(6)
|
2007
Employee Profit Sharing Plan Framework Document.
|
|
31.1
|
Certification
of the Chief Executive Officer and Chief Financial Officer of
BroadVision.
|
|
32.1
|
Certification
of the Chief Executive Officer and Chief Financial Officer of
BroadVision
pursuant to Section 906 of the Sarbanes-Oxley Act of
2002.
|
|
(1)
|
|
Incorporated
by reference to the Company's Registration Statement on Form
S-1 filed on
April 19, 1996 as amended by Amendment No. 1 filed on May 9,
1996, Amendment No. 2 filed on May 29, 1996 and Amendment
No. 3 filed on June 17, 1996.
|
(2)
|
|
Incorporated
by reference to the Company's Proxy Statement filed on May 14,
2002.
|
(3)
|
|
Incorporated
by reference to the Company's Current Report on Form 8-K filed
on December
22, 2005.
|
(4)
|
Incorporated
by reference to the Company's Form 10-K for the fiscal year ended
December
31, 2006 filed on March 26, 2007.
|
|
(5)
|
Incorporated
by reference to the Company's Current Report on Form 8-K filed
January 10,
2007.
|
|
(6)
|
Incorporated
by reference to the Company's Current Report on Form 8-K filed
March 30,
2007.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BROADVISION,
INC.
|
|
|
|
|
||||||
Date:
May 14, 2007
|
|
By:
|
|
/s/
Pehong Chen
|
|
|
|
|
|
Pehong
Chen
|
|
|
|
|
|
|
|
Chairman
of the Board, President, Chief Executive Officer and Interim Chief
Financial Officer
|
Exhibits
|
|
Description
|
3.1
(1)
|
|
Amended
and Restated Certificate of Incorporation.
|
3.2
(2)
|
|
Certificate
of Amendment of Certificate of Incorporation.
|
3.3(4)
|
Certificate
of Amendment of Certificate of Incorporation.
|
|
3.4
(3)
|
|
Amended
and Restated Bylaws.
|
4.1
(1)
|
|
References
are hereby made to Exhibits 3.1 to 3.3.
|
10.1
(5)
|
Sublease
dated December 21, 2006 between BroadVision, Inc. and Dexterra,
Inc.
|
|
10.2
(6)
|
Form
of Restricted Stock Bonus Agreement under 2006 Equity Incentive
Plan.
|
|
10.3
(6)
|
BroadVision,
Inc. Severance Benefit Plan.
|
|
10.4
(6)
|
2007
Employee Profit Sharing Plan Framework Document.
|
|
31.1
|
|
Certification
of the Chief Executive Officer and Chief Financial Officer of
BroadVision.
|
32.1
|
|
Certification
of the Chief Executive Officer and Chief Financial Officer of
BroadVision
pursuant to Section 906 of the Sarbanes-Oxley Act of
2002.
|
|
|
|
(1)
|
|
Incorporated
by reference to the Company's Registration Statement on Form
S-1 filed on
April 19, 1996 as amended by Amendment No. 1 filed on May 9,
1996, Amendment No. 2 filed on May 29, 1996 and Amendment
No. 3 filed on June 17, 1996.
|
(2)
|
|
Incorporated
by reference to the Company's Proxy Statement filed on May 14,
2002.
|
(3)
|
|
Incorporated
by reference to the Company's Current Report on Form 8-K filed
on December
22, 2005.
|
(4)
|
Incorporated
by reference to the Company's Form 10-K for the fiscal year ended
December
31, 2006 filed on March 26, 2007.
|
|
(5)
|
Incorporated
by reference to the Company's Current Report on Form 8-K filed
January 10,
2007.
|
|
(6)
|
Incorporated
by reference to the Company's Current Report on Form 8-K filed
March 30,
2007.
|