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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
FIRSTWORLD COMMUNICATIONS, INC.
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(Name of Issuer)
SERIES B COMMON STOCK, $.0001 PAR VALUE
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(Title of Class of Securities)
337625 20 6
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(CUSIP Number)
October 8, 1998
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[X] Rule 13d-1(d)
*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 ("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).
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED
IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY
VALID OMB CONTROL NUMBER.
Page 1 of 6 Pages
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CUSIP NO. 337625 20 6 Page 2 of 6 Pages
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13G
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Enron Corp.
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- -------------------------------------------------------------------------------
3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Oregon
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5 SOLE VOTING POWER
NUMBER OF
-0-
SHARES ---------------------------------------------------
6 SHARED VOTING POWER
BENEFICIALLY
16,666,666**
OWNED BY ---------------------------------------------------
7 SOLE DISPOSITIVE POWER
EACH
REPORTING 16,666,666**
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PERSON 8 SHARED DISPOSITIVE POWER
WITH -0-
- -------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
16,666,666**
- -------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
N/A
- -------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
56.2%
- -------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
** Includes 5,000,000 shares of Series A Common Stock convertible into Series B
Common Stock on a share for share basis and presently exercisable Warrants to
purchase an aggregate of 8,333,333 shares of Series B Common Stock.
Page 2 of 6 Pages
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Item 1(a) Name of Issuer:
FirstWorld Communications, Inc.
Item 1(b) Address of Issuer's principal executive offices:
7100 East Belleview Avenue, Suite 210
Greenwood Village, CO 80111
Item 2.(a) Name of person filing:
Enron Corp.
Item 2.(b) Address of principal business office or, if none, residence:
1400 Smith Street
Houston, TX 77002
Item 2.(c) Citizenship:
Oregon
Item 2.(d) Title of class of securities:
Series B Common Stock, $.0001 par value (the "Series B
Common Stock").
Item 2.(d) CUSIP Number: 337625 20 6
Item 3. Not Applicable
Item 4 Ownership.
(a) Amount beneficially owned:
16,666,666 shares of Series B Common Stock,
consisting of (i) 3,333,333 shares of Series B Common
Stock owned of record, (ii) presently exercisable Warrants
to purchase an aggregate of 8,333,333 shares of Series B
Common Stock at an exercise price of $3.00 per share (the
"Warrants"), and (iii) 5,000,000 shares of Series A Common
Stock of FirstWorld Communications, Inc. (the "Series A
Common Stock") held of record and convertible, at the
option of the holder, into shares of Series B Common Stock
on a share for share basis.
(b) Percent of class:
56.2%
Page 3 of 6 Pages
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(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote -
-0-
(ii) shared power to vote or to direct the vote -
16,666,666
(iii) sole power to dispose or to direct the
disposition of -
16,666,666
(iv) shared power to dispose or to direct the
disposition of -
-0-
Item 5. Not Applicable.
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
See exhibit attached in response to Item 7.
Item. 7 Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding
Company:
See attached exhibit.
Item 8 Identification and Classification of Members of the Group:
Not Applicable.
Items 9-10 Not Applicable
Page 4 of 6 Pages
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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.
February 11, 1999
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Date
ENRON CORP.
By: /s/ PEGGY B. MENCHACA
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Signature
Name: Peggy B. Menchaca
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Title: Vice President and Secretary
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EXHIBIT FOR ITEM 7
The Series B Common Stock, Warrants and Series A Common Stock
described in the Schedule 13G to which this exhibit is attached are held by
Sundance Assets, L.P., a Delaware limited partnership ("Sundance"), which is an
indirect subsidiary of Enron Corp.("Enron"). The general partner of Sundance is
Ponderosa Assets, L.P., a Delaware limited partnership owned by Enron and
various subsidiaries of Enron ("Ponderosa"). In general, the partnership
agreements of Sundance and Ponderosa provide that the aspects of ownership of
the Series B Common Stock, Warrants and Series A Common Stock (including the
right to receive, or direct the receipt of, dividends and other distributions
thereon or the proceeds of sale thereof) will accrue to the benefit of Enron
Capital & Trade Resources Corp., a Delaware corporation which is a direct
subsidiary of Enron and a limited partner of Ponderosa.
Page 6 of 6 Pages
