content: <HTML><HEAD>
  <TITLE>Form 8-K</TITLE>
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  <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">UNITED STATES
  </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">SECURITIES AND EXCHANGE COMMISSION </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
  FACE="Times New Roman" SIZE="2" COLOR="#000000">Washington, D.C. 20549 </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><HR WIDTH="17%" SIZE="1" NOSHADE COLOR="#000000"><P
  STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="3" COLOR="#000000"><B>FORM 8-K </B></FONT></P><P
  STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="3" COLOR="#000000"><B>CURRENT REPORT </B></FONT></P><P
  STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>Pursuant to Section 13 or 15(d) of the Securities Exchange
  Act of 1934 </B></FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">Date of Report (Date of earliest
  event reported): April 21, 2003 </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"
  ALIGN="center"><FONT FACE="Times New Roman" SIZE="3" COLOR="#000000"><B>VALICERT, INC. </B></FONT></P><P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">(Exact name of registrant as
  specified in its charter) </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><HR WIDTH="17%" SIZE="1" NOSHADE COLOR="#000000"><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P
  STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
  <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">
  
  <TR>
  <TD VALIGN="bottom" WIDTH="31%" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">Delaware</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"></TD>
  <TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
  <TD VALIGN="bottom" WIDTH="31%" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">000-31109</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"></TD>
  <TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
  <TD VALIGN="bottom" WIDTH="31%" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">94-3297861</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"></TD></TR>
  <TR>
  <TD VALIGN="top" ALIGN="center" WIDTH="31%"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%; text-indent:-2%" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">(State or other jurisdiction of
  incorporation)</FONT></P></TD>
  <TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
  <TD VALIGN="top" ALIGN="center" WIDTH="31%"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">(Commission File Number)</FONT></P></TD>
  <TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
  <TD VALIGN="top" ALIGN="center" WIDTH="31%"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">(IRS Employer Identification No.)</FONT></P></TD></TR>
  </TABLE><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><HR WIDTH="17%" SIZE="1" NOSHADE COLOR="#000000"><P STYLE="margin-top:0px;margin-bottom:0px"><FONT
  SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">1215 Terra Bella Avenue </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
  FACE="Times New Roman" SIZE="2" COLOR="#000000">Mountain View, California 94043 </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">(Address of principal executive offices) (Zip
  Code) </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><HR WIDTH="17%" SIZE="1" NOSHADE COLOR="#000000"><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P
  STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">Registrant&#146;s telephone number, including area code: (650) 567-5400 </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT
  SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">Not Applicable </FONT></P><P
  STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">(Former name or former address, if changed since last report) </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT
  SIZE="1">&nbsp;</FONT></P>
  
  <p Style='page-break-before:always'>
  <HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
  
  <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"
  COLOR="#000000"><B><I></I></B><I></I><B><I>Item 9.&nbsp;&nbsp;&nbsp;&nbsp;Regulation FD Disclosure. </I></B></FONT></P><P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P><P
  STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">In accordance with guidance from the Securities and Exchange Commission (the &#147;SEC&#148;) in Release numbers 33-8216 and 34-47583, the
  information furnished under this Item 9 (&#147;Regulation FD Disclosure&#148;) is intended to be furnished under Item 12 (&#147;Results of Operations and Financial Condition&#148;). The information in this Current Report on Form 8-K and the Exhibit
  attached hereto shall not be deemed to be filed for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933,
  as amended. The information contained herein and in the accompanying exhibit shall not be incorporated by reference into any filing with the SEC made by Valicert, Inc. (&#147;Valicert&#148;) whether before or after the date hereof, regardless of any
  general incorporation language in such filing. </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"
  COLOR="#000000">On April 21, 2003, Valicert issued a press release (the &#147;Press Release&#148;) announcing the Company&#146;s financial results for the quarter ended March 31, 2003 and forward-looking statements relating to fiscal 2003. A copy of
  the Press Release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P
  STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">Valicert provides pro forma net loss and pro forma net loss per share measures in the press release as additional information relating to
  its operating results. Valicert&#146;s management believes that the presentation of these measures provides useful information to investors regarding certain additional financial and business trends relating to its financial condition and results of
  operations. These measures are not in accordance with, or an alternative to, generally accepted accounting principles and may be different from pro forma measures used by other companies. The calculation of pro forma net loss and pro forma net loss
  per share have been adjusted to exclude the effects of stock compensation expenses, amortization of intangibles, restructuring and impairment charges and costs associated with Valicert&#146;s pending merger with Tumbleweed Communications. In
  addition, pro forma share information assumes the exercise of stock options and warrants under the treasury stock method. </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P
  STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">This Current Report on Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as
  amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein involve risks and uncertainties that could cause actual results to differ materially from those referred to in the
  forward-looking statements. Such risks include, but are not limited to, the market&#146;s acceptance of the Company&#146;s products, the Company&#146;s products and development efforts, continued success of certain strategies, and the significance
  of specific relationships to the Company&#146;s future success. These and other risks related to Valicert are detailed in Valicert&#146;s most recent annual report on Form 10-K for the year ended December 31, 2002, as filed with the SEC on March 17,
  2003. Valicert does not undertake an obligation to update forward-looking statements. </FONT></P>
  
  <p Style='page-break-before:always'>
  <HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
  
  <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B><I>Item
  7.&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits. </I></B></FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman"
  SIZE="2" COLOR="#000000">(c)&nbsp;&nbsp;&nbsp;&nbsp;Exhibits. </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
  <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">
  
  <TR>
  <TD VALIGN="bottom" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1" COLOR="#000000"><B>Exhibit&nbsp;No.</B></FONT></P><HR WIDTH="62" SIZE="1" NOSHADE COLOR="#000000"></TD>
  <TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
  <TD VALIGN="bottom" WIDTH="90%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="1" COLOR="#000000"><B>Description</B></FONT></P><HR WIDTH="65" SIZE="1" NOSHADE ALIGN="left" COLOR="#000000"></TD></TR>
  <TR>
  <TD VALIGN="top" ALIGN="center" WIDTH="9%"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%; text-indent:-2%" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">99.1</FONT></P></TD>
  <TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
  <TD VALIGN="bottom" WIDTH="90%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">Press Release dated April 21, 2003 regarding financial information for Valicert for the quarter ended March 31, 2003
  and forward-looking statements relating to fiscal 2003.</FONT></P></TD></TR>
  </TABLE>
  
  <p Style='page-break-before:always'>
  <HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
  
  <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">Pursuant to
  the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT
  SIZE="1">&nbsp;</FONT></P>
  <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0">
  
  <TR>
  <TD COLSPAN="3"><FONT SIZE="1">&nbsp;</FONT></TD>
  <TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
  <TD><FONT SIZE="1">&nbsp;</FONT></TD>
  <TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
  <TD VALIGN="top" COLSPAN="3" WIDTH="44%"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%; text-indent:-2%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>VALICERT, INC.</B></FONT></P></TD></TR>
  <TR>
  <TD HEIGHT="16"></TD></TR>
  <TR>
  <TD VALIGN="top" COLSPAN="3" WIDTH="44%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">Date:&nbsp;&nbsp;April 21, 2003</FONT></P></TD>
  <TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
  <TD><FONT SIZE="1">&nbsp;</FONT></TD>
  <TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
  <TD VALIGN="top" WIDTH="2%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">By:</FONT></P></TD>
  <TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
  <TD VALIGN="top" WIDTH="44%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">/s/&nbsp;&nbsp;&nbsp;&nbsp;T<SMALL>IMOTHY</SMALL> C<SMALL>ONLEY</SMALL></FONT></P><HR SIZE="1" NOSHADE ALIGN="left"
  COLOR="#000000"></TD></TR>
  <TR>
  <TD><FONT SIZE="1">&nbsp;</FONT></TD>
  <TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
  <TD><FONT SIZE="1">&nbsp;</FONT></TD>
  <TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
  <TD><FONT SIZE="1">&nbsp;</FONT></TD>
  <TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
  <TD><FONT SIZE="1">&nbsp;</FONT></TD>
  <TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
  <TD VALIGN="bottom" WIDTH="44%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">Timothy Conley</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"
  COLOR="#000000">Chief Financial Officer</FONT></P></TD></TR>
  </TABLE><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
  
  <p Style='page-break-before:always'>
  <HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
  
  <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>EXHIBIT
  INDEX </B></FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
  <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">
  
  <TR>
  <TD VALIGN="bottom" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1" COLOR="#000000"><B>Exhibit&nbsp;No.</B></FONT></P><HR WIDTH="62" SIZE="1" NOSHADE COLOR="#000000"></TD>
  <TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
  <TD VALIGN="bottom" WIDTH="90%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="1" COLOR="#000000"><B>Description</B></FONT></P><HR WIDTH="65" SIZE="1" NOSHADE ALIGN="left" COLOR="#000000"></TD></TR>
  <TR>
  <TD VALIGN="top" ALIGN="center" WIDTH="9%"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%; text-indent:-2%" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">99.1</FONT></P></TD>
  <TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
  <TD VALIGN="bottom" WIDTH="90%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">Press Release dated April 21, 2003 regarding financial information for Valicert for the quarter ended March 31, 2003
  and forward-looking statements relating to fiscal 2003.</FONT></P></TD></TR>
  </TABLE>
  </BODY></HTML>
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metadata_filer: {"company-data": {"conformed-name": "VALICERT INC", "cik": "0001114040", "assigned-sic": "7371", "irs-number": "943297861", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-31109", "film-number": "03656949"}, "business-address": {"street1": "339 N BERNARDO AVE", "city": "MOUNTAIN VIEW", "state": "CA", "zip": "94043", "phone": "6505675400"}, "mail-address": {"street1": "339 N BERNARDO AVENUE", "city": "MOUNTAIN VIEW", "state": "CA", "zip": "94043"}}
text: Form 8-K
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  Washington, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the Securities Exchange
  Act of 1934
  Date of Report (Date of earliest
  event reported): April 21, 2003
  VALICERT, INC.
  (Exact name of registrant as
  specified in its charter)
  Delaware
  000-31109
  94-3297861
  (State or other jurisdiction of
  incorporation)
  (Commission File Number)
  (IRS Employer Identification No.)
  1215 Terra Bella Avenue
  Mountain View, California 94043
  (Address of principal executive offices) (Zip
  Code)
  Registrant's telephone number, including area code: (650) 567-5400
  Not Applicable
  (Former name or former address, if changed since last report)
  Item 9.    Regulation FD Disclosure.
  In accordance with guidance from the Securities and Exchange Commission (the "SEC") in Release numbers 33-8216 and 34-47583, the
  information furnished under this Item 9 ("Regulation FD Disclosure") is intended to be furnished under Item 12 ("Results of Operations and Financial Condition"). The information in this Current Report on Form 8-K and the Exhibit
  attached hereto shall not be deemed to be filed for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933,
  as amended. The information contained herein and in the accompanying exhibit shall not be incorporated by reference into any filing with the SEC made by Valicert, Inc. ("Valicert") whether before or after the date hereof, regardless of any
  general incorporation language in such filing.
  On April 21, 2003, Valicert issued a press release (the "Press Release") announcing the Company's financial results for the quarter ended March 31, 2003 and forward-looking statements relating to fiscal 2003. A copy of
  the Press Release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
  Valicert provides pro forma net loss and pro forma net loss per share measures in the press release as additional information relating to
  its operating results. Valicert's management believes that the presentation of these measures provides useful information to investors regarding certain additional financial and business trends relating to its financial condition and results of
  operations. These measures are not in accordance with, or an alternative to, generally accepted accounting principles and may be different from pro forma measures used by other companies. The calculation of pro forma net loss and pro forma net loss
  per share have been adjusted to exclude the effects of stock compensation expenses, amortization of intangibles, restructuring and impairment charges and costs associated with Valicert's pending merger with Tumbleweed Communications. In
  addition, pro forma share information assumes the exercise of stock options and warrants under the treasury stock method.
  This Current Report on Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as
  amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein involve risks and uncertainties that could cause actual results to differ materially from those referred to in the
  forward-looking statements. Such risks include, but are not limited to, the market's acceptance of the Company's products, the Company's products and development efforts, continued success of certain strategies, and the significance
  of specific relationships to the Company's future success. These and other risks related to Valicert are detailed in Valicert's most recent annual report on Form 10-K for the year ended December 31, 2002, as filed with the SEC on March 17,
  2003. Valicert does not undertake an obligation to update forward-looking statements.
  Item
  7.    Financial Statements and Exhibits.
  (c)    Exhibits.
  Exhibit No.
  Description
  99.1
  Press Release dated April 21, 2003 regarding financial information for Valicert for the quarter ended March 31, 2003
  and forward-looking statements relating to fiscal 2003.
  Pursuant to
  the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
  VALICERT, INC.
  Date:  April 21, 2003
  By:
  /s/    T
  IMOTHY
  C
  ONLEY
  Timothy Conley
  Chief Financial Officer
  EXHIBIT
  INDEX
  Exhibit No.
  Description
  99.1
  Press Release dated April 21, 2003 regarding financial information for Valicert for the quarter ended March 31, 2003
  and forward-looking statements relating to fiscal 2003.