Lebed National Inflation Association NIA Shenanigans

Recently the NIA recent their recent tout of Broadvision with some additional fluff.

"We don't expect BVSN to dominate this space like Facebook dominates their space. Remember, even just a very small 3% market share and price/sales ratio of 10 (Facebook's price/sales ratio is 27), would give BVSN a market cap of $1.92 billion and a share price of $417 in 2016! The market is forward looking, so NIA expects BVSN to trade at substantially higher levels in the days and weeks to come!"

The NIA which is an unlicensed entity is again touting stocks with arbitrary valuations that it states, even as they continue to sell with limited disclosure in their near daily touting.

What the NIA hasn't presented to the investing community is that Broadvision CFO recently filed to sell 180,000+ shares to the market. NIA continues to tout a looming "short squeeze" even as the CFO himself is releasing additional shares to the market.

As stated in the filings and on the fool.com:

"perhaps the biggest news of the night came from CFO, Shin-Yuan Tzou, who filed to sell 180,713 shares at $40.73"

Don't get sucker punched by the non-stop touting by the NIA who has only ruined their own reputation by jumping on the bandwagon of selected quotes by a number of well known individuals.

Don't forget that this company continues to bleed cash and faces looming and continued drop in revenue. With only one prospect for potential revenue growth with ClearVale their entire future lies on this one product line. If they fail which there is a huge possibility amid the numerous competitive space that Broadvision is present then there may be continued dilution of Broadvision shares. This includes potentially raising funds to fix this decade long mess that Broadvision has presented itself with.

Broadvision BVSN

Today another organization released information regarding Broadvision. The continuous hype by the National Inflation Association has been countered by the Association of International Deflation Society (AIDS).

A must read below regarding the shenanigans by Broadvision, Lebed, and the National Inflation Association (NIA) itself.

http://www.aid-society.org/Top-Deflationary-Stock-Pick.html

National Inflation Association NIA Deceptive Practices Regarding Broadvision BVSN

A recent blast by the NIA stated that it purchased 25,000 shares of Jive Software (JIVE) to justify the valuation of Broadvision BVSN.

"JIVE currently has a market cap of $1.249 billion vs. BVSN's market cap of $161.55 million. JIVE has a net cash position of $167.51 million vs. $54.4 million for BVSN. BVSN also has legacy products that we estimate are worth $17 million. JIVE's enterprise social platform is currently receiving $1.08 billion in value vs. BVSN's enterprise social platform currently receiving $90.15 million in value. This means JIVE's social platform for businesses is receiving 12 times more value than BVSN's Clearvale."

Again the rational is that investors have to look at market cap. The argument isn't that Broadvision's legacy value has continued to decline for nearly a decade. Especially, when you look into one of its main competitors for its K2 and QuickSilver platforms. Salesforce recently reported revenue of $632 million on 38% growth year over year. While SalesForce signed over 100 customers that accounted for over $1 million in new contract and 9 customers that were $xx million in contract. These were big wins for SalesForce.

What has Broadvision done with their legacy platform? Continue to lose customers as they shift to competitors such as IBM, Oracle, and SalesForce. So how would one value Broadvision's legacy platform when its customers continue to fled? Who would want to buy an asset that has a declining value? Would you want to buy something that customers continue to fled from?

"Many investors see BVSN up big this year with their revenues in decline and the company losing money, so they decide to short the stock with the belief that BVSN must only be rising because these NIA people like the company. None of these short sellers did any research on enterprise social networking and none of them tried Clearvale for themselves."

Again, there is a reason why investors have shorted the stock. When a stock has lost all its Wall Street coverage since 2005 there is a reason why. Broadvision has went from a company with $416 million in sales a decade ago to a company that has under $20 million in sales. The NIA has not pointed out how management has failed to grow the company. And lets not forget the two reverse splits that the company had presented its shareholders.

And don't forget Broadvision had been sued by MetLife over an office lease and had previous paid $1.9 million to settle. Again mismanagement by Broadvision.

http://www.secinfo.com/d11MXs.z6My.d.htm

Further looking at Broadvision's miscalculation of technology:

Here's a headline from over a decade ago:

Deutsche Bank Pulls Out of Broadvision Deal

http://www.destinationcrm.com/Articles/CRM-News/Daily-News/Deutsche-Bank-Pulls-Out-of-Broadvision-Deal-46235.aspx

Broadvision didn't service all of their customers to the best of their ability even while they had hired thousands of employees, and also under-estimated the growth of Java. Java ended up becoming the standard which became an enormous success for corporations worldwide. This was a major blunder by Broadvision.

"The American Airlines loss was a severe blow for Broadvision but the company has addressed the issue in the US by significantly increasing the number of professional services staff. However, concerns persist. The source pointed to Broadvision's use of what is deemed an older programming language to build its software, despite the recent explosion in the use of the Java language. The danger for any end user with software written in other languages is the problems it would face if Java does become the industry norm for writing new applications.Turner believes that Java is over hyped, but the company is launching a re-architected Java version at the beginning of next year. Deutsche Bank was unavailable for comment."

With their current CEO Pehong Chen which had done nothing but caused severe shareholder losses for the past decade, this company will continue to face enormous challenges ahead and potentially future mismanagement.

I've actually tried ClearVale Express and I haven't been impressed. Broadvision isn't inventing the wheel or for this matter revolutionising the sector. ClearVale has been available in the marketplace for at least two years. ClearVale has not made notable traction against its more well capitalized competitors. Think of it this way. During the recent growth for the past ten years in technology what has Broadvision done to deserve its current valuation? Without the rights offering where would Broadvision be in terms of its cash position?

There is no justification of Broadvision running up besides the hype of the looming Facebook IPO. All stocks that have been hyped by being keyword associated with Facebook are overvalued in terms of actual revenue and profits. Broadvision has nothing to do with Facebook for the past decade. Why has Broadvision's revenue continue to decline amid this social media spring?

I do believe that there is a place for social media enterprise. However the value that corporations are willing to pay will stick with the larger companies such as Lithium. Companies such as Broadvision which has had a limited track record will disappoint investors who have seen losses of over 98% prior to the Lebed and NIA hype.

NIA does not point out to questions that it has for itself as an entity. Why is an "association" who produces YouTube videos about "hyperinflation" touting stocks saying that it will make them rich? Ethnics wise National Inflation Association created in part by Lebed really has none.

For a recap we can recall Lebed's interview with Fox Business:

http://youtu.be/MFcgwZ3xjJg

Lebed continues tout of Broadvision BVSN

Lebed recently released another tout of Broadvision. Nothing new in the e-mail has a material effect on revenues near term.

In his latest tout Lebed continues to tout the number of customers that Broadvision won in 2011 however he continues to fail to disclose the revenue number that these customers totaled.

What Lebed fails to disclose is the quality of customer wins for Broadvision. Recently reported in the fourth quarter Jive Software stated its customer wins include the following:

"Signed new and expanded customer relationships including ACE Group, PricewaterhouseCoopers LLP/UK, SAP and Thomson Reuters among others"

Besides that Jive also expanded on its customer partnership as stated in the following:

Expanded relationships with leading global system integrators Accenture,CapGemini and Hewlett-Packard"

Lebed fails to disclose this information as it continues to show that Broadvision is facing a very challenging path forward to justify its lofty valuation. Without sizable revenue and cash flow Broadvision will be significantly overvalued compared to its peers in the software space. With paltry revenues from the ClearVale platform revenues continue and remain lofty by value and in terms of growth investors.

Jive Software one of Broadvision's largest competitor in the social media space reported 4th quarter revenues of $22.5 million which was up 53% year over year.

While 2011 total revenue reported was $77.3 million which was up 67% year over year.

Again Lebed fails to state Broadvision's declining revenue for the past decade.

Jive also has a cash position of over $180.6 million of which $72 million came from its recent initial public offering. What Lebed fails to state is Jive's cash position compared to Broadvison which has been cash flow negative. Their legacy products continue to decline in value as customers continue to leave for larger and more flexible databases.

Lebed continues to tout that Broadvision should receive a higher valuation yet as Broadvision has stated in is recent conference call that there is no company developments to disclose that would explain the run-up. Again the National Inflation Association (NIA) and Marlin Capital hold a significant amount of the float. Be careful of these touts as fundamentals in due time will expose of this tout.

NIA Continues Tout of Broadvision BVSN

The National Inflation Association recently sent out another tout of Broadvision. In this recent tout it compared Broadvision to Jive Software.

NIA stated the number of customers in comparison with the amount of dollars spent for the number of customer wins.

Unfortunately, what NIA does not mention is the quality of customers that Broadvision had won.

Here's a list of Broadvision's customers:

http://www.broadvision.com/en/customers_aeroxchange.php

Compare that with that of Jive:

http://www.jivesoftware.com/customers

There is no contest to whom the larger more well capitalized and known brands prefer.

Let's add another competitor, Lithium:

http://www.lithium.com/

Again, the quality of customers are more profound. NIA continues its verbiage without citing that Broadvision continues to lose money year over year and has seen its revenue go from $400+ million to 17 million during the past decade. Customers continue to leave its current K2 and QuickSilver platform for other more modernized database.

Jive won 40 new customers, while Broadvision won 32 new customers. Yet, when you look at the quality of customer wins Broadvision is clearly facing an uphill battle versus companies that have Wall Street supporters, and Venture Capital funding. Broadvision only near term viable option is to dilute its shareholders further to raise capital. Besides that Broadvision has had a history of shafting its shareholders with prior reverse splits.

If you would like to partake in a quality company in the space there are more favorable options than Broadvision. I would go so far to compare this to Microsoft versus Corel. If anyone has followed software Microsoft Office had taken market share over the less capitalized Corel and its Wordperfect suite. Hence, if you look it up Corel was bought out by Vector Capital.

Guess who made a bid that potentially went through? The same Vector Capital that once bidded for Broadvision for .84 a share.

They actually had once offered a discount to what the shares were worth in the market.

http://www.siliconbeat.com/entries/2005/07/26/vector_capital_to_buy_broadvision.html

Think that the NIA has made a great analysis of Broadvision? NIA has also failed to disclose its involvement with Barry Honig of Marlin Capital. Whom has had numerous lawsuits against him.

http://www.youtube.com/watch?v=GKdOHPak7rA&feature=player_embedded

Broadvision Jive Facebook Lebed

Lebed continues to spread false information regarding Broadvision and Jive. In the latest tout Lebed states

"I believe Clearvale has much bigger potential than Engage. JIVE has a lot more customers because they have been around longer, but over the long-term I expect BVSN to surpass JIVE like Facebook surpassed MySpace a few years ago."

Broadvision has been a public company much earlier than Jive. Since when has Jive been around longer?

Here's a briefing of Jive's history:

http://i.zdnet.com/blogs/alcatel_lucent_enterprise_2_case_study.png

Lebed also states that:

"For BVSN, I believe its upside potential is astronomical with very limited downside risk. I believe the enterprise social space will eventually become the hottest industry to invest in on Wall Street and BVSN is positioned to lead the industry."

He has not stated the downside risk. He had not mentioned the continued decline in revenue year over year for the last ten years.

Nor has he mentioned that there are other competitors who have more capital, and have invested in more R&D than Broadvision.

Broadvision has continued to burn cash with little prospects of a revenue rebound to offset their continued legacy losses from both K2 and QuickSilver.

The bottom line is what made Broadvision a $1 billion dollar market cap has suffered tremendous shift from its corporate customers to other database providers. The shift through ClearVale has NOT helped it avoid continued yearly revenue and cash flow declines.

Broadvision BVSN CNBC Lebed NIA

CNBC provided an update regarding the Lebed tout.

http://video.cnbc.com/gallery/?video=3000070810

The video regarding Broadvision starts at 1:57.

Broadvision stated in their conference call that they were in their quiet period, and couldn't explain why their stock had its irregular trading action. However, Broadvision didn't even send a note to CNBC regarding this. Unless Broadvision refutes this, Broadvision needs to continue to address this recent pump.

The issue with Broadvision at this point is that its destiny is tied to a penny stock promoter, Lebed, and NIA. Trust companies that grow their business and have a path to become profitable. Broadvision's revenue for the past decade has continued to decline.

The recent touting by Lebed only further damages Broadvison's reputation. After having the Wall Street community leave in droves since 2005 due to a lack of interest, and further declines in its business model, Lebed has chose this as his top pick for this year (probably due to its light float and the lack of coverage). The lack of coverage is more troubling than anything because Lebed has misinformed investors regarding Broadvision.

The NIA has stated its interest:

NIA currently owns 145,000 shares of BVSN. NIA agreed to a 60 day holding period on its initial position of 122,000 shares starting from the date that NIA first suggested the company, but NIA intends to sell these 122,000 shares at some point in the future after the date of February 12th, 2012. NIA intends to sell its additional 23,000 shares of BVSN and can sell them at any time. NIA reserves the right to accumulate additional shares of BVSN at any time. NIA's co-founders
have also been referred business in the past from somebody who has filed as a large BVSN shareholder. Past performance is not an indicator of future returns.

Look for future volatility depending on the misinformation that Lebed, and NIA continues to provide to its investors. Please look at prior posts regarding this misinformation.

Lebed mPhase Technologies XDSL.OB

Lebed, famous for recently pumping Broadvision BVSN has also touted other stocks in the past.

One from the prior year was also touted by him as one of his top picks. That pick is mPhase Technologies. Around .60 he had touted this stock as the next big riser due to its patents.

When the pump doesn't work or has fulfilled Lebed obligation to their own stake and to their third party the stock craters.

Such as mPhase which is currently trading at $0.002. You wouldn't be able to cash a penny off of this stock because it is nearly worthless.

Here's an interesting article about Lebed and his prior top pump and dump:

http://www.collegestock.com/blog/jonathan-lebed-and-ron-durando-are-two-of-a-kind/

This leads to question the intention of Lebed, and his other site in which he has an interest in, the NIA, National Inflation Association. Don't get caught in the tout of stocks such as Broadvision. The recent quarterly release speaks for itself.

Herb Greenberg CNBC Broadvision BVSN Lebed NIA

Herb Greenberg of CNBC had a number of tweets on Twitter pertaining to Broadvision, Lebed, and the NIA.

It's good to have a reporter show that independent coverage can disclose something very wrong with the financial markets.

Final point: I've emailed lebed, asking if he is associated with NIA. Will report back if/when he does. And I'm sure he will.

These PROMOTES are so obvious. $BVSN reports earnings Thurs. Onward...

So $BVSN is hot b/c competitor $JIVE went public. What promoters don't tell you is that 1 JIVE underwriter initiated w/neutral.

Oh, my just reading a PROMOTE of $BVSN. And PROMOTE it is!

CNBC Broadvision BVSN Lebed

CNBC today provided a bit more color with regards to Broadvision and its promote hype.

The video outlines the sharp downfall of Broadvision which was once valued at over 13 BILLION to its current valuation of a little under 200 million market cap. Unfortunately, since that time Broadvision's revenue has dropped sharply as has its fortunes.

With penny stock newsletter promoters such as Lebed who as mentioned before had a settlement with the SEC, be very cautious of this pump and dump scammer. Be wary of their PR Newswire feeds, as they have very little in terms of real analysis. The last remaining analysts from Wall Street had dropped through coverage from 2005 on. Now is the time to find out if Broadvision had any insider knowledge, or if Lebed or NIA had knowledge of certain key releases. The SEC would be be very open to hear from you, Lebed.

http://video.cnbc.com/gallery/?video=3000069151

Jive Software Social Media Platform

With the recent hype of the depressed corporation Broadvision comes additional spotlight of stocks in the space. Jive Software the leader in this space today had new price targets by large Wall Street firms.

Jive Software initiated with a Neutral at Goldman
Target $16

Jive Software initiated with an Overweight at Morgan Stanley
Target $20

Jive Software initiated with a Market Perform at Wells Fargo
Valuation range is $15-17

National Inflation Association NIA pump and dump

Speaking in context of Broadvision, here's an additional video by Peter Schiff detailing the operations of the NIA (National Inflation Association).

http://www.youtube.com/watch?v=XYOclEsKHtc

Broadvision BVSN Key Statistics

Lebed NIA Broadvision BVSN

During a recent updated tout of Broadvision as a "leading" social platform and touting it's enterprise value. Both K2 and QuickSilver unforunately have had continued revenue and maintenance revenue decline for the past couple of years. Enough that analysts from Wall Street have removed itself from covering Broadvision due to the lack of interest from its clients. Wall Street does not remove itself from coverage unless the company fails to garner much interest because of future business that it may seek from the company such as underwriting, consulting, and a variety of potential business oppertuntities.

The NIA recently was charging prospective members $100 for its report partly involving Broadvision. Although, all of their recent newsworthy information is readily available to the public. The Softbank news has been out a while and although a positive to boost potential gains in user base it remains to be seen if this will have a net positive to its bottom line.

I will provide more information following Broadvision's earnings announcement. Broadvision remains a distressed stock that has seen very lukewarm interest prior to the recent pump by the NIA and Lebed. As previously posted Lebed from prior toutings seeks to have additional business from prior "investor relations".

As stated in its recent 10-Q report Broadvision has only 38.7 Million versus the 56.79 Million that the NIA and Lebed have stated. This is an outright deceptive practice that Lebed and NIA have presented to the investing public.

Jonathan Lebed Fox Business Interview

As discussed in an earlier post that Jonathan Lebed has been hyping a negative growth, negative earnings company.

Here Lebed in an interview on Fox Business gives an interview of his practices or there lack of it. The lack of ethical behavior is apparent as the prior post of Broadvision suggests. Without looking at the 10-Q one would have foolishly thought that Broadvision has more cash than it suggested by Lebed.

http://www.youtube.com/watch?v=MFcgwZ3xjJg

The company that Lebed had touted is currently trading at $0.00. The stock Surfect Holdings Inc SUFH was $0.20 when Lebed had touted it with a confidence rating of 2. If you would have bought this and not got out in time you would have been writing this off since the company is defunct.

Lebed NIA Broadvision Facebook IPO

Revisiting the Broadvision touting by Lebed. Lebed continues to tout misinformation and outright lies.

On the 6 of January it stated that, "BVSN is in what will be the HOTTEST industry of 2011 with Facebook's IPO expected in April!"

On the 19th of January in its recent information it touted, "BVSN is finally going to receive the massive exposure it deserves at Digital London and then just a few weeks later in May will be the IPO of Facebook!"

Which in the case of Broadvision has very limited exposure to the social media in terms of revenue. It's other two products (K2 and QuickSilver) continue to decline in revenue and legacy maintenance revenue. ClearVale has not materially changed the outlook of the company and its continued declines in revenue and its cash flow. For four STRAIGHT YEARS Broadvision revenue has declined. Not a company which investors should warm up to if you like valuations to increase. High growth companies such as Netflix, VMWare shares have grown due in part to its expansion in revenue and product lines and strong management. Looking at the the charts Broadvision has been one of the worst performing stocks compared to the DOW, NASDAQ, and its peers.

In a span of a couple of weeks it has already stated a change in date with no sort of correction in its previous touting.

Besides that one issue that was raised by Timothy Sykes a noted independent investor, stated that Broadvision 10-Q filing with the SEC had only $37 million compared to the $56.79 million that Lebed stated. Again, if that were the case then Broadvision is trading a a significant premium over its previous misinformation.

The 10-Q can be founded here: http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8237436

Lebed continues to mislead investors and the general public regarding companies that it said it has done research. Without hard facts and details companies such as Broadvision are to be avoided.

Feel free to chime in over at the SEC, and file a report against Lebed for stating misinformation and have operations such as Lebed shut down.

http://www.sec.gov/complaint/select.shtml

Jonathan Lebed: Stock Manipulator, S.E.C. Nemesis -- and 15

Here's an interesting read by Michael Lewis regarding Jonathan Lebed who is currently touting stocks over the Internet.

http://www.nytimes.com/2001/02/25/magazine/25STOCK-TRADER.html

Broadvision BVSN Hype or Reality

Broadvision has been garnering attention recently from the recent release in information from Lebed's mailing list. If you haven't heard of Jonathan Lebed, he gained the attention of the SEC while hyping stocks and selling them leaving others holding the bag. The SEC fined him and required that he give up a fair amount of his gains. Lebed is not touted as an analyst as he does not hold any of the required licensing to be bonded by securities law.

Now on to Broadvision. Broadvision sells business to business on-line platforms. Their newest push is into social media. They announced today that they are partnering to use its platform to host the event Digital London March 13-14, 2012.

Unfortunately, I don't foresee much in terms of gains for shareholders until Broadvision significantly boosts its cash flow and revenue. Lebed has touted that this company will receive attention in the space because of the upcoming potential Facebook IPO. Broadvision's platform ClearVale has only been on the market a limited time. Because of this it has not been seen as the leader of the B2B social media space. There has not been any analyst coverage since 2005. Analyst coverage from WallStreet went null since Broadvision went on the brink of collapse when Vector Capital offered .84 a share for the entire company. There wasn't enough votes to have Vector Capital take over Broadvision so Broadvision remained independent. Since that time revenue has not improved. It's other two remaining products K2, and Quicksilver has had continued declines in revenue and maintenance revenue. ClearVale will not make a material dent to offset these declines in revenue. There are also numerous options in the social media space, and the barrier to entry is minimal, especially with the low overhead cost of creating this type of software from a startup. While this may keep costs low in terms of R&D, Broadvision will have to expand its salesforce which has declined from over 1,000 to under 200 today. As that expands so does its expenses. The real question is will Broadvision's ClearVale revenue expand enough to offset Broadvision's continued losses, and its negative cash flow problem? Over the past decade this seems unlikely.

Another reason is that until Broadvision creates some products that improves its presence in the marketplace, it will have to play catch up to the pure play social media leader Jive. There is a reason why brokerage houses have pushed Jive instead of Broadvision. Broadvision has been dead money for nearly a decade. As management continued to hire employees while business in the sector had went in a free fall. Broadvision has also done very little in terms of their revenue for nearly a decade as it has continued to decline up till its most recent report.

Lebed NIA Pump And Dump Broadvision BVSN

Revisiting equities recently I've discovered Lebed and it's recent pump and dump scam. Recently Lebed and the NIA (National Inflation Association) have been touting the great business of Broadvision. Unfournately, Lebed has touted countless equities and has had issues with the SEC.

Peter Schiff a well respected member in the investing community who has interest in the firm EuroCapital states that Lebed and the NIA misrepresent the companies that they tout.

Here are two videos that explain this:

http://www.youtube.com/watch?v=e8M7Q9T4NfI

http://www.youtube.com/watch?v=nZItpZ0TWXk

A follow-up post will expand on the pump and dump with Lebed and the NIA. Proceed with extreme caution with Broadvision. Broadvision has lost investors over 98% of its original asset over the course of Broadvision's history if you were to cash out within this past week.