| Ticker: | FVHI | 11975 El Camino Real, Suite 300 | |
| Exchange: | NASDAQ-National Market | San Diego, California 92130 | |
| Industry: | High-Tech | (619) 793-2700 |
| Type of Shares: | Common Shares | Filing Date: | 10/21/96 | |
| U.S. Shares: | 2,000,000 | Offer Date: | 12/13/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $11.00 - $13.00 | |
| Primary Shares: | 2,000,000 | Offer Price: | $9.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.63 | |
| Offering Amount: | $24,000,000 | Selling: | $0.38 | |
| Expenses: | $1,400,000 | Reallowance: | $0.10 | |
| Shares Out After: | - |
| Manager | Tier | Phone |
| Bear, Stearns & Co. Inc. | Lead Manager | (212) 272-2000 |
| Cowen & Company | Co-manager | (212) 495-6000 |
| Lehman Brothers Incorporated | Co-manager | (212) 640-6129 |
| Unterberg Harris | Co-manager | (212) 888-5609 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $0.20 | $0.40 | $0.03 | Assets: | $10.57 |
| Net Income: | -$2.27 | -$2.51 | -$1.13 | Liabilities: | $2.44 |
| EPS: | Equity: | $8.13 | |||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company has developed and implemented the VirtualPIN architecture which facilitates Internet commerce and is designed to facilitate other forms of interactive Internet communications. The VirtualPIN architecture utilizes E-mail which has the widest reach and broadest use of any Internet application. The First Virtual Internet Payment System, a secure and easy-to-use payment system introduced in October 1994, is the company's first application of the VirtualPIN architecture. As of June 30, 1996, the company has processed over 208,000 FVIPS transactions and has registered more than 2,150 merchants and 160,000 consumers in 166 countries. The company believes that the VirtualPIN architecture can also serve as the basis for additional Internet applications including direct marketing, interactive advertising , merchandising, subscriptions and renewals, bill payments, client response surveys and Internet communications. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for working capital and other general corporate purposes including capital expenditures and the repayment of indebtedness to certain shareholders. |
©1996 IPO Data Systems, Inc. - All rights reserved.