SOFTBANK HOLDINGS INC ET AL
SC 13D/A, 1998-06-23
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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                 SCHEDULE 13D/A
                                 (RULE 13D-101)

           INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
                   RULE 13D-1(A) AND AMENDMENTS THERETO FILED
                           PURSUANT TO RULE 13D-2(A).

                               (AMENDMENT NO. 3)*

                       FIRST VIRTUAL HOLDINGS INCORPORATED
- --------------------------------------------------------------------------------
                                (Name of Issuer)

                    COMMON STOCK, PAR VALUE $0.001 PER SHARE
- --------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                   337486 10 4
- --------------------------------------------------------------------------------
                                 (CUSIP Number)

       RONALD FISHER                           STEPHEN A. GRANT, ESQ.
  SOFTBANK HOLDINGS INC.                        SULLIVAN & CROMWELL
10 LANGLEY ROAD, SUITE 403                        125 BROAD STREET
  NEWTON CENTER, MA 02159                        NEW YORK, NY 10004
      (617) 928-9300                               (212) 558-4000

          (Name, Address and Telephone Number of Person Authorized to
                      Receive Notices and Communications)
                                  JUNE 19, 1998
             ------------------------------------------------------
             (Date of Event which Requires Filing of this Statement)

                         (Continued on following pages)

                              (Page 1 of 8 Pages)

If the filing person has previously  filed a statement on Schedule 13G to report
the  acquisition  which is the subject of this  Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box
|_|.

NOTE:  Schedules  filed in paper format shall include a signed original and five
copies of the  schedule,  including  all  exhibits.  See Rule 13d-7(b) for other
parties to whom copies are to be sent.

*The  remainder of this cover page shall be filled out for a reporting  person's
initial filing on this form with respect to the subject class of securities, and
for  any  subsequent   amendment   containing   information  which  would  alter
disclosures  provided  in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the  Securities  Exchange  Act of
1934 (the "Act") or otherwise  subject to the liabilities of that section of the
Act but shall be subject to all other  provisions of the Act  (however,  see the
Notes).                                                          SEC 1746(12-91)


<PAGE>


                                  SCHEDULE 13D

- -----------------------                                       -----------------
CUSIP NO.  337486 10 4                                        PAGE 2 OF 8 PAGES
- ------------------------                                      -----------------

- --------------------------------------------------------------------------------
 1  NAMES OF REPORTING PERSONS
    I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS

    SOFTBANK HOLDINGS INC.
- --------------------------------------------------------------------------------
 2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                   (A) |_|
                                                                        (B) |_|
- --------------------------------------------------------------------------------
 3  SEC USE ONLY

- --------------------------------------------------------------------------------
 4  SOURCE OF FUNDS*

    WC
- --------------------------------------------------------------------------------
 5  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
    ITEMS 2(d) OR 2(e)                                                      |_|
- --------------------------------------------------------------------------------
 6  CITIZENSHIP OR PLACE OF ORGANIZATION

    DELAWARE
- --------------------------------------------------------------------------------
                     7  SOLE VOTING POWER

                        20,013,713 (1) (2)
                    -----------------------------------------------------------
    NUMBER OF        8  SHARED VOTING POWER
      SHARES
   BENEFICIALLY         4,979,611 (2)
     OWNED BY       -----------------------------------------------------------
       EACH          9  SOLE DISPOSITIVE POWER
    REPORTING
      PERSON            20,013,713 (1) (2)
       WITH         -----------------------------------------------------------
                    10  SHARED DISPOSITIVE POWER

                        0
                   ------------------------------------------------------------
11  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

    24,993,324 (1) (2)
- --------------------------------------------------------------------------------
12  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
                                                                            |_|
- --------------------------------------------------------------------------------
13  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

    81.9% (1) (2)
- --------------------------------------------------------------------------------
14  TYPE OF REPORTING PERSON*

    CO
- --------------------------------------------------------------------------------
     (1)  Such number of shares and percentage are estimated and are subject to
          increase as described in Item 5.
     (2)  See Item 5.


                      *SEE INSTRUCTIONS BEFORE FILLING OUT!
                      INCLUDE BOTH SIDES OF THE COVER PAGE,
                 RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF
                  THE SCHEDULE, AND THE SIGNATURE ATTESTATION.


<PAGE>


                                  SCHEDULE 13D

- -----------------------                                       -----------------
CUSIP NO.  337486 10 4                                        PAGE 3 OF 8 PAGES
- ------------------------                                      -----------------

- --------------------------------------------------------------------------------
 1  NAMES OF REPORTING PERSONS
    I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS

    SOFTBANK TECHNOLOGY VENTURES IV L.P.
- --------------------------------------------------------------------------------
 2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                   (A) |_|
                                                                        (B) |_|
- --------------------------------------------------------------------------------
 3  SEC USE ONLY

- --------------------------------------------------------------------------------
 4  SOURCE OF FUNDS*

    WC
- --------------------------------------------------------------------------------
 5  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
    ITEMS 2(d) OR 2(e)                                                      |_|
- --------------------------------------------------------------------------------
 6  CITIZENSHIP OR PLACE OF ORGANIZATION

    DELAWARE
- --------------------------------------------------------------------------------
                     7  SOLE VOTING POWER

                        8,286,892 (1)
                    -----------------------------------------------------------
    NUMBER OF        8  SHARED VOTING POWER
      SHARES
   BENEFICIALLY         4,979,611 (1)
     OWNED BY       -----------------------------------------------------------
       EACH          9  SOLE DISPOSITIVE POWER
    REPORTING
      PERSON            8,286,892 (1)
       WITH         -----------------------------------------------------------
                    10  SHARED DISPOSITIVE POWER

                        0
                   ------------------------------------------------------------
11  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

    13,266,503 (1)
- --------------------------------------------------------------------------------
12  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
                                                                            |_|
- --------------------------------------------------------------------------------
13  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

    66.1%
- --------------------------------------------------------------------------------
14  TYPE OF REPORTING PERSON*

    PN
- --------------------------------------------------------------------------------
     (1)  See Item 5.


                      *SEE INSTRUCTIONS BEFORE FILLING OUT!
                      INCLUDE BOTH SIDES OF THE COVER PAGE,
                 RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF
                  THE SCHEDULE, AND THE SIGNATURE ATTESTATION.


<PAGE>


                                  SCHEDULE 13D

- -----------------------                                       -----------------
CUSIP NO.  337486 10 4                                        PAGE 4 OF 8 PAGES
- ------------------------                                      -----------------

- --------------------------------------------------------------------------------
 1  NAMES OF REPORTING PERSONS
    I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS

    SOFTBANK CORPORATION
- --------------------------------------------------------------------------------
 2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                   (A) |_|
                                                                        (B) |_|
- --------------------------------------------------------------------------------
 3  SEC USE ONLY

- --------------------------------------------------------------------------------
 4  SOURCE OF FUNDS*

    AF
- --------------------------------------------------------------------------------
 5  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
    ITEMS 2(d) OR 2(e)                                                      |_|
- --------------------------------------------------------------------------------
 6  CITIZENSHIP OR PLACE OF ORGANIZATION

    JAPAN
- --------------------------------------------------------------------------------
                     7  SOLE VOTING POWER

                        20,013,713 (1) (2)
                    -----------------------------------------------------------
    NUMBER OF        8  SHARED VOTING POWER
      SHARES
   BENEFICIALLY         4,979,611 (2)
     OWNED BY       -----------------------------------------------------------
       EACH          9  SOLE DISPOSITIVE POWER
    REPORTING
      PERSON            20,013,713 (1) (2)
       WITH         -----------------------------------------------------------
                    10  SHARED DISPOSITIVE POWER

                        0
                   ------------------------------------------------------------
11  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

    24,993,324 (1) (2)
- --------------------------------------------------------------------------------
12  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
                                                                            |_|
- --------------------------------------------------------------------------------
13  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

    81.9% (1) (2)
- --------------------------------------------------------------------------------
14  TYPE OF REPORTING PERSON*

    HC, CO
- --------------------------------------------------------------------------------
     (1)  Such number of shares and percentage are estimated and are subject to
          increase as described in Item 5.
     (2)  See Item 5.


                      *SEE INSTRUCTIONS BEFORE FILLING OUT!
                      INCLUDE BOTH SIDES OF THE COVER PAGE,
                 RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF
                  THE SCHEDULE, AND THE SIGNATURE ATTESTATION.


<PAGE>


                                  SCHEDULE 13D

- -----------------------                                       -----------------
CUSIP NO.  337486 10 4                                        PAGE 5 OF 8 PAGES
- ------------------------                                      -----------------

- --------------------------------------------------------------------------------
 1  NAMES OF REPORTING PERSONS
    I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS

    MASAYOSHI SON
- --------------------------------------------------------------------------------
 2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                   (A) |_|
                                                                        (B) |_|
- --------------------------------------------------------------------------------
 3  SEC USE ONLY

- --------------------------------------------------------------------------------
 4  SOURCE OF FUNDS*

    AF
- --------------------------------------------------------------------------------
 5  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
    ITEMS 2(d) OR 2(e)                                                      |_|
- --------------------------------------------------------------------------------
 6  CITIZENSHIP OR PLACE OF ORGANIZATION

    JAPAN
- --------------------------------------------------------------------------------
                     7  SOLE VOTING POWER

                        20,013,713 (1) (2)
                    -----------------------------------------------------------
    NUMBER OF        8  SHARED VOTING POWER
      SHARES
   BENEFICIALLY         4,979,611 (2)
     OWNED BY       -----------------------------------------------------------
       EACH          9  SOLE DISPOSITIVE POWER
    REPORTING
      PERSON            20,013,713 (1) (2)
       WITH         -----------------------------------------------------------
                    10  SHARED DISPOSITIVE POWER

                        0
                   ------------------------------------------------------------
11  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

    24,993,324 (1) (2)
- --------------------------------------------------------------------------------
12  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
                                                                            |_|
- --------------------------------------------------------------------------------
13  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

    81.9% (1) (2)
- --------------------------------------------------------------------------------
14  TYPE OF REPORTING PERSON*

    IN
- --------------------------------------------------------------------------------
     (1)  Such number of shares and percentage are estimated and are subject to
          increase as described in Item 5.
     (2)  See Item 5.


                      *SEE INSTRUCTIONS BEFORE FILLING OUT!
                      INCLUDE BOTH SIDES OF THE COVER PAGE,
                 RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF
                  THE SCHEDULE, AND THE SIGNATURE ATTESTATION.


<PAGE>


                                  SCHEDULE 13D

- -----------------------                                       -----------------
CUSIP NO.  337486 10 4                                        PAGE 6 OF 8 PAGES
- ------------------------                                      -----------------

- --------------------------------------------------------------------------------
 1  NAMES OF REPORTING PERSONS
    I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS

    STV IV LLC
- --------------------------------------------------------------------------------
 2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                   (A) |_|
                                                                        (B) |_|
- --------------------------------------------------------------------------------
 3  SEC USE ONLY

- --------------------------------------------------------------------------------
 4  SOURCE OF FUNDS*

    AF
- --------------------------------------------------------------------------------
 5  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
    ITEMS 2(d) OR 2(e)                                                      |_|
- --------------------------------------------------------------------------------
 6  CITIZENSHIP OR PLACE OF ORGANIZATION

    DELAWARE
- --------------------------------------------------------------------------------
                     7  SOLE VOTING POWER

                        8,286,892 (1)
                    -----------------------------------------------------------
    NUMBER OF        8  SHARED VOTING POWER
      SHARES
   BENEFICIALLY         4,979,611 (2)
     OWNED BY       -----------------------------------------------------------
       EACH          9  SOLE DISPOSITIVE POWER
    REPORTING
      PERSON            8,286,892 (1)
       WITH         -----------------------------------------------------------
                    10  SHARED DISPOSITIVE POWER

                        0
                   ------------------------------------------------------------
11  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

    13,266,503 (1)
- --------------------------------------------------------------------------------
12  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
                                                                            |_|
- --------------------------------------------------------------------------------
13  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

    66.1% (1)
- --------------------------------------------------------------------------------
14  TYPE OF REPORTING PERSON*

    00
- --------------------------------------------------------------------------------
     (1)  See Item 5.


                      *SEE INSTRUCTIONS BEFORE FILLING OUT!
                      INCLUDE BOTH SIDES OF THE COVER PAGE,
                 RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF
                  THE SCHEDULE, AND THE SIGNATURE ATTESTATION.


<PAGE>


- -----------------------                                       -----------------
CUSIP NO.  337486 10 4                                        PAGE 7 OF 8 PAGES
- ------------------------                                      -----------------

         SOFTBANK Holdings,  SOFTBANK Technology,  SOFTBANK, Son, and STV hereby
amend and  supplement  the  Statement  on Schedule 13D  originally  filed by the
Reporting  Persons on May 11, 1998, as amended on June 4, 1998 and June 15, 1998
(as  amended,  the  "Statement"),  with respect to the Common  Stock,  par value
$0.001 per share (the "Common Stock"), of First Virtual Holdings Incorporated, a
Delaware corporation (the "Company").

         The descriptions  contained in this Statement of certain agreements and
documents are qualified in their  entirety by reference to the complete texts of
such agreements and documents, which have been filed as exhibits to the Schedule
13D,  as  amended  and  supplemented,  and  incorporated  by  reference  herein.
Capitalized terms used, but not defined, herein shall have the meanings ascribed
to them in the Statement.


ITEM 4.   PURPOSE OF TRANSACTION.

         Item 4 is hereby  amended  and  supplemented  by  incorporation  of the
information  set forth in Item 6 with respect to the Loan  Assignment  Agreement
(as defined herein).


ITEM 6.   CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
          TO SECURITIES OF THE ISSUER.

         Item 6 is hereby  amended  and  supplemented  by  incorporation  of the
following:

         In connection with the Loan Agreement, SOFTBANK Holdings entered into a
Loan  Assignment  Agreement,  dated as of June 19,  1998 (the  "Loan  Assignment
Agreement")  (attached hereto as Exhibit K), with  Consolidated  Email,  Inc., a
wholly-owned  subsidiary  of  SOFTBANK  Technology.  Under  the Loan  Assignment
Agreement,  SOFTBANK  Holdings  assigned  (i) its  interest in and to all of its
rights under the Loan  Agreement  with  respect to certain  loans in a principal
amount of $700,000 plus interest (the "Assigned  Loans") and (ii) a 50% interest
in each  promissory note delivered in connection with the Assigned Loans. At the
Closing, the principal of, and accrued interest on, the promissory notes will be
converted  into  shares of Common  Stock and such  Common  Stock will be held by
SOFTBANK Technology.


ITEM 7.   MATERIAL TO BE FILED AS EXHIBITS.

         Item 7 is  hereby  amended  and  supplemented  by the  addition  of the
following:

         Exhibit K   Loan Assignment Agreement, dated as of June 19, 1998, by
                     and among SOFTBANK Holdings and Consolidated Email, Inc.


<PAGE>


- -----------------------                                       -----------------
CUSIP NO.  337486 10 4                                        PAGE 8 OF 8 PAGES
- ------------------------                                      -----------------


                                    SIGNATURE

         After reasonable  inquiry and to the best of my knowledge and belief, I
certify that the information  set forth in this statement is true,  complete and
correct.

June 23, 1998                       SOFTBANK HOLDINGS INC.


                                    By: /s/ Ronald D. Fisher
                                        ---------------------------------
                                        Name: Ronald D. Fisher
                                        Title:  Vice Chairman


                                    SOFTBANK TECHNOLOGY VENTURES IV L.P.


                                    By: STV IV LLC
                                        Its General Partner


                                        By: /s/ Gary Rieschel
                                            -----------------------------
                                            Name: Gary Rieschel
                                            Title:  Executive Managing Director


                                    SOFTBANK CORPORATION


                                    By: /s/ Ronald D. Fisher
                                        ---------------------------------
                                        Name: Ronald D. Fisher
                                        Title:  Attorney-in-Fact


                                    MASAYOSHI SON


                                    By: /s/ Ronald D. Fisher
                                        ---------------------------------
                                        Name: Ronald D. Fisher
                                        Title:  Attorney-in-Fact


                                    STV IV LLC


                                    By: /s/ Gary Rieschel
                                        ---------------------------------
                                        Name: Gary Rieschel
                                        Title:  Executive Managing Director


                                                                 EXHIBIT K

                            LOAN ASSIGNMENT AGREEMENT


         This Loan Assignment Agreement is dated as of the 19th day of June 1998
(this "Loan Assignment Agreement"). Reference is made to the Loan Agreement,
dated as of April 30, 1998 (the "Loan Agreement"), by and between First Virtual
Holdings Incorporated, a Delaware corporation (the "Company"), and SOFTBANK
Holdings Inc., a Delaware corporation. Terms defined in the Loan Agreement are
used herein as defined therein. SOFTBANK Holdings Inc. ("Assignor") and
Consolidated Email, Inc., a wholly-owned subsidiary of SOFTBANK Technology
Ventures IV L.P. ("Assignee"), hereby agree as follows:

         1. The Assignor hereby sells and assigns to the Assignee without
recourse and without representation or warranty (other than as expressly
provided herein) and the Assignee hereby purchases from the Assignor, that
interest in and to all of the Assignor's rights under the Loan Agreement as of
the effective date hereof with respect to, and only with respect to, those loans
made pursuant to the Loan Agreement which are set forth on Schedule I hereto
(the "Assigned Loans"), in a principal amount for such Assigned Loans as set
forth on such Schedule I hereto, and a 50% interest in each promissory note
delivered in connection with the Assigned Loans, including, without limitation,
the right to receive shares of the Company's Common Stock from the Company upon
conversion of principal of, and accrued interest on, the Assigned Loans as
provided in such promissory notes.

         2. The Assignor (i) represents and warrants that it is the legal and
beneficial owner of the interest being assigned by it hereunder and that such
interest is free and clear of any adverse claim created by the Assignor; (ii)
makes no representation or warranty and assumes no responsibility with respect
to any statements, warranties or representations made in or in connection with
the Loan Agreement or the execution, legality, validity, enforceability,
genuineness, sufficiency or value of the Loan Agreement or any other instrument
or document furnished pursuant thereto; and (iii) makes no representation or
warranty and assumes no responsibility with respect to the financial condition
of any party to the Loan Agreement or the performance or observance by any party
to the Loan Agreement of any of their respective obligations under the Loan
Agreement or any other instrument or document furnished pursuant thereto.

         3. The Assignee (i) confirms that it has received a copy of the Loan
Agreement, together with such other documents and information as it has deemed
appropriate to make its own decision to enter into this Loan Assignment
Agreement; (ii) agrees that it will consult with the Assignor before taking or
not taking action in respect of the Assigned Loans or otherwise under the Loan
Agreement; and (iii) appoints and authorizes the Assignor to take such action as
agent on its behalf and to exercise such


<PAGE>


powers under the Loan Agreement as are granted to the Lender by the terms
thereof, together with such powers as are reasonably incidental thereto.

         4. Promptly after receiving any notices from the Company pursuant to
the Loan Agreement, the Assignor shall deliver or send a copy of the same to the
Assignee at the address set forth on Schedule II hereof. All other notices
hereunder or in connection herewith shall be delivered or sent as set forth on
Schedule II hereof.

         5. It is agreed that the Assignee shall be entitled to all principal,
interest and any other amounts in respect of the Assigned Loans on and after the
date hereof, such interest and other amounts to be paid by the Company directly
to the Assignee. In the event that less than all of the principal, accrued
interest or other amounts due in respect of the Loans is paid, the Assignee
shall be entitled to receive its pro rata share of all amounts, determined based
on dividing the principal, accrued interest or other amounts, as the case may
be, due in respect of the Assigned Loans by the principal, accrued interest or
other amounts, respectively, due in respect of all Loans. The Company shall pay
all amounts to which the Assignee is entitled hereunder directly to the
Assignee. In the event that, notwithstanding the immediately preceding sentence,
any amount to which the Assignee is entitled hereunder is paid to or received by
the Assignor, the Assignor shall promptly remit the amount to which the Assignee
is entitled to the Assignee. If any payment made to or received by the Assignor
and so remitted to the Assignee is rescinded or is required to be returned by
the Assignor, the Assignee shall promptly pay the amount thereof to the
Assignor. Upon the execution of this Loan Assignment Agreement, the Assignee
shall pay to the Assignor $705,166, which represents the portion of the
principal amount of and interest on the Loans made by the Assignor pursuant to
the Loan Agreement and outstanding on the date hereof.

         6. It is agreed that Assignee shall be entitled to assign this Loan
Assignment Agreement and any rights, interests or obligations hereunder to a
wholly-owned subsidiary.

         7. This Loan Assignment Agreement shall be governed by, and construed
in accordance with, the laws of the State of New York.


                                        2

<PAGE>


         IN WITNESS WHEREOF, the parties hereto have caused this Loan Assignment
Agreement to be duly executed as of the day and year first above written.


SOFTBANK HOLDINGS INC.,                     CONSOLIDATED EMAIL, INC.
  as Assignor                                 as Assignee



By: /s/ Ronald D. Fisher                  By: /s/ Bradley A. Feld
    -----------------------                   -----------------------
    Name:  Ronald D. Fisher                   Name:  Bradley A. Feld
    Title: Vice Chairman                      Title: President


The undersigned hereby consents to the assignment made pursuant to the foregoing
Loan Assignment Agreement.

FIRST VIRTUAL HOLDINGS INCORPORATED


By: /s/ Keith S. Kendrick
    ------------------------
    Name:  Keith S. Kendrick
    Title: President


                                        3

<PAGE>



                                   SCHEDULE 1



Legal Name of Assignor:                     SOFTBANK HOLDINGS INC.
Legal Name of Assignee:                     CONSOLIDATED EMAIL, INC.
Effective Date of Assignment:               June 19, 1998

Assigned Loans
Principal Amount:                           $700,000
Interest:                                   $5,166

Loans Pursuant to Loan
Agreement Retained by Assignee
Principal Amount:                           $700,000
Interest:                                   $5,166


                                        4

<PAGE>


                                   SCHEDULE II

         Any notices and other communications required or permitted under the
Loan Agreement shall be effective if in writing and delivered personally or sent
by telecopier, Federal Express or registered or certified mail, postage prepaid,
addressed as follows:


If to Assignor, to:                 SOFTBANK Holdings Inc.
                                    10 Langley Road
                                    Suite 403
                                    Newton Center, Massachusetts  02169
                                    Telecopier:  (617) 928-9301
                                    Attention:    Ronald Fisher
                                                  Vice Chairman

    with a copy to:                 Sullivan & Cromwell
                                    125 Broad Street
                                    New York, New York 10004
                                    Telephone: (212) 558-3504
                                    Telecopier: (212) 558-3588
                                    Attention: Stephen A. Grant, Esq.

If to Assignee, to:                 Consolidated Email, Inc.
                                    1630 30th Street
                                    Suite 405
                                    Boulder, CO  80304
                                    Telephone:  (303) 494-3242
                                    Telecopier:  (303) 494-7842
                                    Attention:    Bradley A. Feld
                                                  Managing Director

    with a copy to:                 Sullivan & Cromwell
                                    125 Broad Street
                                    New York, New York  10004
                                    Telephone:  (212) 558-3504
                                    Telecopier:  (212) 558-3588
                                    Attention:  Stephen A. Grant, Esq.


                                        5


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