SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
----------------
Under the Securities Exchange Act of 1934
SCHEDULE 13G
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Environmental Power Corporation
-------------------------------
(Name of Issuer)
Common Stock, par value $0.01 per share
---------------------------------------
(Title of Class of Securities)
29406L201
---------
(CUSIP Number)
July 18, 2005
-------------
(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)
|X| Rule 13d-1(c)
|_| Rule 13d-1(d)
Page 1 of 10 Pages
SCHEDULE 13G
CUSIP No. 29406L201 Page 2 of 10 Pages
--------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
First New York Securities L.L.C.
--------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |X|
--------------------------------------------------------------------------------
3) SEC USE ONLY
--------------------------------------------------------------------------------
4) CITIZENSHIP OR PLACE OF ORGANIZATION
New York
--------------------------------------------------------------------------------
5) SOLE VOTING POWER
NUMBER 369,950
OF ------------------------------------------------------
SHARES 6) SHARED VOTING POWER
BENEFICIALLY
OWNED BY None
EACH ------------------------------------------------------
REPORTING 7) SOLE DISPOSITIVE POWER
PERSON
WITH 369,950
------------------------------------------------------
8) SHARED DISPOSITIVE POWER
None
--------------------------------------------------------------------------------
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
369,950
--------------------------------------------------------------------------------
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.0%
--------------------------------------------------------------------------------
12) TYPE OF REPORTING PERSON
BD
--------------------------------------------------------------------------------
SCHEDULE 13G
CUSIP No. 29406L201 Page 3 of 10 Pages
--------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Eric Goldstein
--------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |X|
--------------------------------------------------------------------------------
3) SEC USE ONLY
--------------------------------------------------------------------------------
4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
5) SOLE VOTING POWER
NUMBER 21,200
OF ------------------------------------------------------
SHARES 6) SHARED VOTING POWER
BENEFICIALLY
OWNED BY None
EACH ------------------------------------------------------
REPORTING 7) SOLE DISPOSITIVE POWER
PERSON
WITH 21,200
------------------------------------------------------
8) SHARED DISPOSITIVE POWER
129,050
--------------------------------------------------------------------------------
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
150,250
--------------------------------------------------------------------------------
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
2.0%
--------------------------------------------------------------------------------
12) TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
SCHEDULE 13G
CUSIP No. 29406L201 Page 4 of 10 Pages
--------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Sam Ginsburg
--------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |X|
--------------------------------------------------------------------------------
3) SEC USE ONLY
--------------------------------------------------------------------------------
4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
5) SOLE VOTING POWER
NUMBER 5,171
OF ---------------------------------------------------
SHARES 6) SHARED VOTING POWER
BENEFICIALLY
OWNED BY None
EACH ---------------------------------------------------
REPORTING 7) SOLE DISPOSITIVE POWER
PERSON
WITH 5,171
---------------------------------------------------
8) SHARED DISPOSITIVE POWER
121,900
--------------------------------------------------------------------------------
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
127,071
--------------------------------------------------------------------------------
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.7%
--------------------------------------------------------------------------------
12) TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
Schedule 13G
Item 1(a). Name of Issuer:
Environmental Power Corporation
Item 1(b). Address of Issuer's Principal Executive Offices:
One Cate Street, 4th Floor
Portsmouth, New Hampshire 03801
Item 2(a). Name of Person Filing:
(1) First New York Securities L.L.C. ("FNYS")
(2) Eric Goldstein. Mr. Goldstein is employed by and trades securities of the
issuer for the proprietary account of FNYS.
(3) Sam Ginsburg. Mr. Ginsburg is employed by and trades securities of the
issuer for the proprietary account of FNYS.
Item 2(b). Address of Principal Business Office or, if None, Residence:
(1) First New York Securities L.L.C.: 850 Third Avenue, 17th Floor
New York, NY 10022
(2) Eric Goldstein: c/o First New York Securities L.L.C.
850 Third Avenue, 8th Floor
New York, NY 10022
(3) Sam Ginsburg: c/o First New York Securities L.L.C.
850 Third Avenue, 8th Floor
New York, NY 10022
Item 2(c). Citizenship:
(1) First New York Securities L.L.C.: New York
(2) Eric Goldstein: United States
(3) Sam Ginsburg: United States
Item 2(d). Title of Class of Securities:
Common Stock, par value $0.01 per share
Item 2(e). CUSIP Number:
29406L201
Item 3. If this statement is filed pursuant to ss.ss. 240.13d-1(b), or
240.13d-2(b) or (c), check whether the person filing is a:
(a) |_| Broker or Dealer Registered Under Section 15 of the Act
(15 U.S.C. 78o)
(b) |_| Bank as defined in section 3(a)(6) of the Act (15 U.S.C.
78c)
(c) |_| Insurance Company as defined in section 3(a)(19) of the
Act (15 U.S.C. 78c)
(d) |_| Investment Company registered under section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8)
(e) |_| Investment Adviser in accordance with ss.
240.13d-1(b)(1)(ii)(E)
(f) |_| Employee benefit plan or endowment fund in accordance
with ss. 240.13d-1(b)(1)(ii)(F)
(g) |_| Parent Holding Company or control person in accordance
with ss.240.13d-1(b)(ii)(G)
(h) |_| Savings Association as defined in ss.3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813)
(i) |_| Church plan that is excluded from the definition of an
investment company under ss.3(c)(15) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3)
(j) |_| Group, in accordance with ss.240.13d-1(b)(ii)(J)
Item 4. Ownership.
(a) Amount beneficially owned:(1)
(1) First New York Securities L.L.C.: 369,950
(2) Eric Goldstein: 150,250
(3) Sam Ginsburg: 127,071
(b) Percent of class:
(1) First New York Securities L.L.C.: 5.0%
(2) Eric Goldstein: 2.0%
(3) Sam Ginsburg: 1.7%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
(1) First New York Securities L.L.C.: 369,950
---------------------
(1) Percentages based on 7,417,558 shares of Common Stock outstanding as of June
15, 2005 as reported in the Issuer's Schedule 14A, filed July 21, 2005.
(2) Eric Goldstein: 21,200
(3) Sam Ginsburg: 5,171
(ii) Shared power to vote or to direct the vote:
(1) First New York Securities L.L.C.: 0
(2) Eric Goldstein: 0
(3) Sam Ginsburg: 0
(iii) Sole power to dispose or to direct the disposition of:
(1) First New York Securities L.L.C.: 369,950
(2) Eric Goldstein: 21,200
(3) Sam Ginsburg: 5,171
(iv) Shared power to dispose or to direct the disposition of:
(1) First New York Securities L.L.C.: 0
(2) Eric Goldstein: 129,050(2)
(3) Sam Ginsburg: 121,900(2)
Item 5. Ownership of Five Percent or Less of a Class.
Not Applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Not Applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company.
Not Applicable.
Item 8. Identification and Classification of Members of the Group.
See Item 2(a) above.
Item 9. Notice of Dissolution of Group.
Not Applicable.
------------------------
(2) Includes shares owned by First New York Securities L.L.C. as to which the
reporting person may be deemed to share dispositive power.
Item 10. Certification.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best knowledge and belief of the
undersigned, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Date: July 28, 2005 FIRST NEW YORK SECURITIES L.L.C.
BY: /s/ Mario Maugeri
----------------------------------
Name: Mario Maugeri
Title: Director of Operations
/s/ Eric Goldstein
-------------------------------------
Eric Goldstein
/s/ Sam Ginsburg
-------------------------------------
Sam Ginsburg
Exhibit 1
AGREEMENT OF JOINT FILING
Pursuant to rule 13d-1(k) promulgated under the Securities Exchange Act of
1934, as amended, the undersigned persons hereby agree to file with the
Securities and Exchange Commission the Statement on Schedule 13G (the
"Statement") to which this Agreement is attached as an exhibit, and agree that
such Statement, as so filed is on the behalf of each of them.
IN WITNESS WHEREOF, the undersigned have executed this Agreement as of
July 28, 2005.
FIRST NEW YORK SECURITIES L.L.C.
BY: /s/ Mario Maugeri
-----------------------------------
Name: Mario Maugeri
Title: Director of Operations
/s/ Eric Goldsetin
--------------------------------------
Eric Goldstein
/s/ Sam Ginsburg
--------------------------------------
Sam Ginsburg