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| FirstWorld Communications, Inc. |
| 8390 E. Crescent Parkway, Suite 300, Greenwood Village, CO 80111 * (303) 874-8010 |
| Business Description | The company is a rapidly growing network based provider of Internet, data and communications services. |
| Offering Information Company has | |||
| Trading As | FWIS (NASNTL) | Industry | Telecommunications (SIC 4813) |
| Type of Stock Offered | Series B Common Shares | Filing Date | 12/22/99 |
| Domestic Shares Offered | 8,500,000 | Offer Date | 3/7/00 |
| Foreign Shares Offered | 1,500,000 | Filing Range | $15.00 - $17.00 |
| Company Shares | 10,000,000 | Offer Price | $17.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.190 |
| Gross Proceeds | $170,000,000 | Selling | $0.700 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | - - | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Lehman Brothers Incorporated | Lead Manager | (212) 526-8100 |
| Bear, Stearns & Co. Inc. | Co-manager | (212) 272-4850 |
| Deutsch Banc Alex. Brown | Co-manager | (410) 727-1700 |
| Fidelity Capital Markets | Co-manager | |
| PaineWebber Incorporated | Co-manager | (212) 713-2626 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 9 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/96 | 12/31/97 | 12/31/98 | 9/30/98 | 9/30/99 | ||
| Revenues | - | - | 0.354 | 0.171 | 1.091 | 0.977 | 36.462 |
| Income from Oper. | - | - | -3.838 | -8.225 | -18.476 | -15.720 | -50.193 |
| Net Income | - | - | -3.856 | -9.553 | -33.356 | -29.258 | -72.389 |
| E.P.S | - | - | -1.380 | -2.950 | -1.560 | -1.050 | -2.640 |
| Revenue Growth (%) | - | - | -51.69 | 538.012 | 3,632.04 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -10.13 | -9.07 | -22.48 | ||||
| Cash Flow - Inv. | -191.66 | -189.17 | 51.95 | ||||
| Cash Flow - Fin. | 273.30 | 270.00 | -0.97 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 9/30/99 | Financial Ratios | ||||
| Total Assets | 277.70 | Current Assets | - | Current Ratio | - |
| Total Liab. | 325.35 | Current Liab. | - | Debt Ratio | 117.16% |
| Total Equity | -47.65 | Working Cap. | - | Debt to Equity Ratio | - |
| Cash | 58.16 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to expand our sales and marketing efforts, fund our operating losses, hire additional personnel, fund potential acquisitions, fund our capital expenditures and product development, provide working capital and for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Cooley Godward Castro Huddleson & Tatum |
| Bank's Law Firm | Shearman & Sterling |
| Registrar/Transfer Agent | Norwest Bank of Minnesota |
| Auditor | Pricewaterhouse Coopers LLC |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Donald L. Sturm | 51.41 | |
| Enron Corp. | 44.50 | |
| Note: represents ownership of 5% or more prior to the offering. | ||