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   Technology StocksFirst Virtual Holdings (FVHI): Internet bottom fishing?


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To: Mr. Stress who wrote (54)7/13/1998 1:08:00 PM
From: Winston Kim
   of 87
 
This stock looks like it can go higher.....Internet boom has gone to the small internet stocks now....NAVR, BAMM, FVHI, LEAP...all have ran huge

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To: Winston Kim who wrote (55)7/13/1998 1:12:00 PM
From: Mr. Stress
   of 87
 
FVHI is the next huge gainer.

Short covering alone could double the price.

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To: Mr. Stress who wrote (56)7/13/1998 1:30:00 PM
From: Winston Kim
   of 87
 
Looks like a dry out happening right now. Should stick around 6 1/2 until the afternoon, then there will be a better picture of what the stock is going to do.

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To: Winston Kim who wrote (57)7/13/1998 2:46:00 PM
From: Feraldo
   of 87
 
How right you were. Now we hit the afternoon and we jumped above 7 again, now around 6 7/8, 15 minute delay.

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To: Feraldo who wrote (58)7/13/1998 3:18:00 PM
From: Winston Kim
   of 87
 
Thank you, thank you....No applause necessary..

Hehehe

:-)


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To: Winston Kim who wrote (59)7/13/1998 4:38:00 PM
From: TFF
   of 87
 
geez this thing is hot! 63% owned by softbank(aka YHOO,EGRP) and only 1.2 mil float!

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To: Winston Kim who wrote (59)7/13/1998 4:47:00 PM
From: Logistics
   of 87
 
Winston,

FVHI - I hopped on today and held. Are you still in?

JL

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To: TFF who wrote (60)7/13/1998 8:38:00 PM
From: JGarly
   of 87
 
10 million float more like it. Recent stock issuance to Softbank + conversion of preferred stock have increased the total shares outstanding to almost 31 million. The stock issued on conversion of the preferred is freely tradable. A tranche of 6 million shares was issued to the convertible holders about 3 weeks ago. I would be surprised if these shares are not being sold into the current strength.

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To: neverenough who wrote (51)7/13/1998 9:12:00 PM
From: Dave Ruff
   of 87
 
Yes, I believe. I must keep my eye on it. Today I bought BJCT. Check it out.

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To: JGarly who wrote (62)7/13/1998 9:21:00 PM
From: TFF
   of 87
 
JGarly: looks like Softbank owns 81.9% of the stock (which I assume they are holding) Also they sold 800,000 to Etrade which in of itself is a VERY interesting transaction.

I found this in the SEC files:

SOFTBANK; Son.
As the parent of SOFTBANK Holdings and the direct and indirect owner of
an approximate 50% interest of SOFTBANK, respectively, SOFTBANK and Son may each
be deemed to be the beneficial owner of an aggregate of 25,305,824 shares of
Common Stock, comprising 81.9% of the Common Stock (based on the number of
shares of Common Stock outstanding as of April 30,1998,

- Common stock, $0.001 par value; 40,000,000 shares authorized,
11,817,980 shares issued and outstanding at May 31, 1998
30,951,134

First Virtual Holdings Incorporated
Pro Forma Condensed Balance Sheet
The unaudited pro forma condensed balance sheet as of May 31, 1998, is
supplemental to the Company's historical financial statements and gives effect
to the following assumed transactions as if they took place on May 31, 1998.
These assumed transactions differ in several respects from the actual
transactions which occurred on June 25, 1998 and which are referred to in the
attached press release, due primarily to the accrual of additional interest on
existing Company indebtedness, and the Company's incurring additional
indebtedness, from May 31, 1998 through June 23, 1998. The additional
indebtedness and accrued interest was converted into Common Stock as part of the
aforementioned transactions. Where appropriate, the actual net proceeds to the
Company, debt canceled, and shares of Common Stock issued are indicated
parenthetically below.
1. The sale and issuance of 10,000,000 shares of Common Stock on June 25,
1998, for which the Company received net proceeds of $4,744,778
($4,438,422) and cancellation of $1,105,222 ($1,411,578) in debt.
2. The sale and issuance of 625,000 shares of Common Stock on June 25, 1998,
for which the Company received net proceeds of $750,000.
3. The conversion of $1,529,903 ($1,536,061) of debt into 2,549,838
(2,560,102) shares of Common Stock on June 25, 1998.
4. The release of a writ of attachment, pursuant to a civil lawsuit filed
against the Company in February 1998.
5. Stockholder approval of the issuance of 1,000 shares of the Company's
Series A Convertible Preferred Stock and its subsequent reclassification
from a mezzanine item to stockholders' equity on June 23, 1998.
6. Conversion of all 655 outstanding shares of Series A Convertible Preferred
Stock into 5,958,316 shares of Common Stock on June 25, 1998.

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