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First Virtual Holdings (FVHI): Internet bottom fishing?
An SI Board Since March 1998
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87 1 0 FVHI
Emcee:  Jonathan Brown Type:  Unmoderated
A paraphrase of the story, as heard from FVHI investor relations: FVHI went public in December 1996 as an Internet payment company. The houses sponsoring included Lehman and Bear Stearns. Six months later FVHI changed its focus to electronic messaging because the payment business was disappointing: margins were low, and there were too few transactions.

So FVHI drew up a plan to handle email for large companies. The plan is to provide clients with third-pary, roundtrip email. As an example: a computer company sells a customer a laptop over the Web. FVHI then replies with a thank you, which also suggests additional purchases, say, of an extra battery or a printer at a discount. The customer can then simply click a button or link to approve the transaction: FVHI has the necessary credit info from its client company.

It sounds as if FVHI remains an E-commerce company, though it's looking for a niche not originally defined by the business plan that found initial backing. Apparently Wall Street doesn't like such behavior, as a cursory glance at FVHI's chart will show. Plus, after an October private placement a lot of preferred shares got converted to common, increasing the float and further depressing the stock price.

While IR says it is presently seeking additional capital, I gather the company has revenues, no debt, and cash on hand, though no major clients as yet. But insider ownership is about 38%, I'm told, and I imagine that short of bankruptcy, the bad news is in the price.

If anyone can add details to the story, please do. I may take up a very small speculative position, since the idea of an Internet value play intrigues me.

Jon
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87 New thread started to reflect new name and symbol.... Subject 24362FredB-12/19/1998
86 E-trade, another softbank associate, already has. Weby webinfopro.com-12/1/1998
85 The large share owner of FVHI is SOFTBANK,a venture capital that own large sharYacov Twena-12/1/1998
84 FVHI selected for Bertelsmann's Online Bookselling. (First Lafferty Group John Lawrence-11/4/1998
83 E*TRADE Selects First Virtual Holdings For E-Messaging Solution Number One RaJohn Lawrence-11/4/1998
82 Some Rumors going around... messages.yahoo.com@m2.yahoo.com Is that all gossipDr. Frank Antwerpes-10/27/1998
81 Weby We did ok on this one today. I believe it would have hit 7 if it werenloe4net-7/21/1998
80 Looks like some terrific news out late last night: Monday July 20, 11:55 pm Ruth Macellari-7/21/1998
79 Hi Loe, You did better than me today (Not counting cmgi). I decided to double webinfopro.com-7/20/1998
78 Weby I finally got some. Paid 4.25, which I think will be considered a bargainloe4net-7/20/1998
77 I always respond with facts, here are some on FVHI: 1. SoftBank just pumped 1gizelle otero-7/14/1998
76 Support confirmed at $5.25. Institutional buying noted at that level. Looks lgizelle otero-7/14/1998
75 Webby, I am sympathetic to your point of view, but let's be realistic. FVHIJonathan Brown-7/14/1998
74 JL, Hope you dumped FVHI @ the open. I should have shorted this dog. Also, shoWinston Kim-7/14/1998
73 It is being touted by some newsletters. Go to: daytraders.comDave Ruff-7/14/1998
72 You are right about FVHI discussion on Yahoo vs. SI: This is not some scam comgizelle otero-7/14/1998
71 Gentlemen: If you're only trading then guess as you will. Yhis is not goinwebinfopro.com-7/14/1998
70 Good luck to you. I just don't want to be the one holding the bag. A lot ofWinston Kim-7/13/1998
69 True and it may not be. Still holding. JL Logistics-7/13/1998
68 Sold it for profits...I did not like how it could not close above the previous Winston Kim-7/13/1998
67 Mark, You're talking about the wrong company. FVHI is NOT Ralph UngermannScott Loftesness-7/13/1998
66 Softbank background: redherring.com redherring.com looks like this guy wantTFF-7/13/1998
65 >>> Today I bought BJCT. Check it out. <<< Nice volume, whatneverenough-7/13/1998
64 JGarly: looks like Softbank owns 81.9% of the stock (which I assume they are hoTFF-7/13/1998
63 Yes, I believe. I must keep my eye on it. Today I bought BJCT. Check it out.Dave Ruff-7/13/1998
62 10 million float more like it. Recent stock issuance to Softbank + conversion JGarly-7/13/1998
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