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. |
