FLEXIINTERNATIONAL SOFTWARE INC/CT
SC 13D/A, 2000-10-04
PREPACKAGED SOFTWARE
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                                                                    Page 1 of 10


                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                  SCHEDULE 13D

                    Under the Securities Exchange Act of 1934
                                (Amendment No.1)*

                        FLEXIINTERNATIONAL SOFTWARE, INC.
                                (Name of Issuer)

                                  Common Stock
                         (Title of Class of Securities)

                                   338923 10 5
                                 (CUSIP Number)

                                Michael P. Moran
                             WR Hambrecht & Co. LLC
                                 550 15th Street
                             San Francisco, CA 94107
                                 (415) 551-8657
                  (Name, Address and Telephone Number of Person
                Authorized to Receive Notices and Communications)

                                     9/18/00
             (Date of Event which Requires Filing of this Statement)

If the filing person has previously  filed a statement on Schedule 13G to report
the  acquisition  that is the subject of this  Schedule  13D, and is filing this
schedule because of ss.ss.240.13d-1(e),  240.13d-1(f) or 240.13d-1(g), check the
following box [ ].

Note:  Schedules  filed in paper format shall include a signed original and five
copies of this schedule,  including all exhibits.  See ss.240.13d-7(b) for other
parties to whom copies are to be sent.

* The  remainder  of this cover page shall be filled out for a 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
"filed" for the  purpose of Section 18 of the  Securities  Exchange  Act of 1934


<PAGE>


CUSIP No. 338923 10 5                                               Page 2 of 10

("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).


<PAGE>


CUSIP No. 338923 10 5                                               Page 3 of 10


<TABLE>
<CAPTION>
                                 SCHEDULE 13D

--------------------------------------------------------------------------------------------
<S>           <C>
1               NAMES OF REPORTING PERSONS
                I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

                WR Hambrecht & Co. LLC
                943289837

--------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------
2               CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) (X)
                                                                                    (b) ( )
--------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------
3               SEC USE ONLY

--------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------
4               SOURCE OF FUNDS (SEE INSTRUCTIONS)

                WC

--------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------
5               CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
                2(d) or 2(e) (  )

--------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------
6               CITIZENSHIP OR PLACE OF ORGANIZATION

                Delaware

--------------------------------------------------------------------------------------------
NUMBER OF       7         SOLE VOTING POWER
SHARES
BENEFICIALLY              None
OWNED BY EACH
REPORTING
PERSON WITH

                ----------------------------------------------------------------------------
                8         SHARED VOTING POWER

                          1,511,666

                ----------------------------------------------------------------------------
                9         SOLE DISPOSITIVE POWER

                          None

                ----------------------------------------------------------------------------
                10        SHARED DISPOSITIVE POWER

                          1,511,666

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

                1,511,666

--------------------------------------------------------------------------------------------
12              CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE
                INSTRUCTIONS)(  )

--------------------------------------------------------------------------------------------
13              PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

                8.6%

--------------------------------------------------------------------------------------------
14              TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

                BD

--------------------------------------------------------------------------------------------
</TABLE>


<PAGE>


CUSIP No. 338923 10 5                                               Page 4 of 10


<TABLE>
<CAPTION>
                               SCHEDULE 13D

--------------------------------------------------------------------------------------------
<S>          <C>
1             NAMES OF REPORTING PERSONS
              I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

              William R. Hambrecht

--------------------------------------------------------------------------------------------
2             CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) (X)
                                                                                  (b) ( )
--------------------------------------------------------------------------------------------
3             SEC USE ONLY

--------------------------------------------------------------------------------------------
4             SOURCE OF FUNDS (SEE INSTRUCTIONS)

              PF, AF
--------------------------------------------------------------------------------------------
5             CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d)
              or 2(e) (  )

--------------------------------------------------------------------------------------------
6             CITIZENSHIP OR PLACE OF ORGANIZATION

              United States of America
--------------------------------------------------------------------------------------------
              7        SOLE VOTING POWER
NUMBER OF
SHARES                 616,962
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH
              ------------------------------------------------------------------------------
              8        SHARED VOTING POWER

                       1,511,666

              ------------------------------------------------------------------------------
              9        SOLE DISPOSITIVE POWER

                       616,962

              ------------------------------------------------------------------------------
              10       SHARED DISPOSITIVE POWER

                       1,511,666

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

              2,128,628 (1)
--------------------------------------------------------------------------------------------
12            CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE
              INSTRUCTIONS) (  )

--------------------------------------------------------------------------------------------
13            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

              12.0%

--------------------------------------------------------------------------------------------
14            TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

              IN

--------------------------------------------------------------------------------------------

(1) Mr. Hambrecht has a 23.4% ownership interest in WR Hambrecht & CO. LLC (the "LLC").  The LLC
directly owns 1,511,666 shares of Flexiinternational Software, Inc.  Mr. Hambrecht directly owns
616,962 shares of Flexiinternational Software, Inc.  Mr. Hambrecht disclaims beneficial ownership
of all the shares of Flexiinternational Software, Inc. held directly by the LLC other than with
respect to 353,730 shares represented by his proportionate ownership interest in the LLC.
</TABLE>


<PAGE>


CUSIP No. 338923 10 5                                               Page 5 of 10


                            Statement on Schedule 13D

      This filing is the First  Amendment  on Schedule 13D of WR Hambrecht & Co.
LLC ("LLC") and William R. Hambrecht with respect to the beneficial ownership by
the LLC and Mr.  Hambrecht of shares of common  stock,  $.01 par value per share
("Common Stock"), of Flexiinternational  Software,  Inc., a Delaware corporation
("Issuer").  The filing of this Schedule 13D ("Amended Statement") is occasioned
by the purchase of 72,000 shares as described in Item 5(c) below.

      To the extent that any  information is provided herein with respect to the
Issuer,  such  information  is  provided  to the  knowledge  of the  LLC and Mr.
Hambrecht.

ITEM 1.     SECURITY AND ISSUER.

      The  Amended  Statement  relates to shares of the Common  Stock,  $.01 par
value per  share,  of  Flexiinternational,  Inc.,  a Delaware  corporation.  The
address of the Issuer's  principal  executive  offices is Two Enterprise  Drive,
Shelton, Connecticut 06484.

ITEM 2.     IDENTITY AND BACKGROUND.

      The Amended  Statement is being filed jointly by William R.  Hambrecht and
the LLC.

      (a)   (i) WR Hambrecht & Co. LLC.
            (ii) William R. Hambrecht.

      (b)   (i) The LLC's  principal  business  address is 550 15th Street,  San
            Francisco, CA 94103.
            (ii) Mr.  Hambrecht's  principal  address  is 550 15th  Street,  San
            Francisco, CA 94103.

      (c)   (i) The LLC is a Broker/Dealer.
            (ii) Mr. Hambrecht is the sole Manager of the LLC.

      (d)   During the past five years,  neither the LLC nor Mr.  Hambrecht  has
            been  convicted  in  a  criminal   proceeding   (excluding   traffic
            violations or similar misdemeanors).

      (e)   During the past five  years,  neither the LLC or Mr.  Hambrecht  has
            been party to a civil  proceeding  of a judicial  or  administrative
            body of competent  jurisdiction  and as a result of such  proceeding


<PAGE>


CUSIP No. 338923 10 5                                               Page 6 of 10


            was or is subject to a  judgment,  decree or final  order  enjoining
            future violations of, or prohibiting or mandating activities subject
            to, federal or state securities laws, or finding any violations with
            respect to such laws.

      (f)   (i) The LLC is organized under the laws of the State of Delaware.
            (ii) Mr. Hambrecht is a citizen of the United States of America.

ITEM 3      SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION

      Working Capital of the LLC.

ITEM 4.     PURPOSE OF TRANSACTION.

      The  acquisitions  of Common Stock by the LLC were made in connection with
its role as a market  maker of  Issuer.  Except  as  noted  below,  neither  Mr.
Hambrecht nor the LLC has any present plans or proposals that relate to or would
result in or cause:

      (a)   the  acquisition  by any  person  of  additional  securities  of the
            Issuer, or the disposition of securities of the Issuer;

      (b)   an   extraordinary   corporate   transaction,   such  as  a  merger,
            reorganization  or  liquidation,  involving the Issuer or any of its
            subsidiaries;

      (c)   a sale or transfer  of a material  amount of assets of the Issuer or
            any of its subsidiaries;

      (d)   any change in the present  board of directors or  management  of the
            Issuer,  including  any plans or  proposals  to change the number or
            term of directors or to fill any existing vacancies on the board;

      (e)   any material change in the present capitalization or dividend policy
            of the Issuer;

      (f)   any other  material  change in the  Issuer's  business or  corporate
            structure;

      (g)   changes in the Issuer's charter, bylaws or instruments corresponding
            thereto or other actions which may impede the acquisition of control
            of the Issuer by any person;


<PAGE>


CUSIP No. 338923 10 5                                               Page 7 of 10


      (h)   a class of securities of the Issuer to be de-listed  from a national
            securities  exchange or to cease to be authorized to be quoted in an
            interdealer  quotation  system of a registered  national  securities
            association;

      (i)   a class of equity  securities  of the Issuer  becoming  eligible for
            termination  of  registration  pursuant  to Section  12(g)(4) of the
            Securities Exchange Act of 1934; or

      (j)   any action similar to any of those enumerated above.

      The filing  persons  reserve  the right to adopt such plans and  proposals
subject  to  applicable  regulatory  requirements,   if  any;  and  to  transfer
securities of the Issuer  directly  and/or sell  securities of the Issuer in the
open market.

ITEM 5.     INTEREST IN SECURITIES OF THE ISSUER.

      (a)  According to the Issuer, there were 17,688,595 shares of Common Stock
outstanding  as of August 7, 2000.  The LLC currently  directly  owns  1,511,666
shares of the Issuer's Common Stock, representing 8.6% of the outstanding Common
Stock. Mr. Hambrecht directly owns 616,962 shares of Common Stock of the Issuer.
Mr. Hambrecht, as the sole Manager of the LLC, has indirect beneficial ownership
of the 1,511,666 shares of Common Stock owned by the LLC. Mr. Hambrecht also has
a 23.4%  ownership  interest  in the  corporation  that  owns  100% of the  LLC.
Accordingly,  Mr. Hambrecht disclaims  beneficial ownership of all shares of the
Issuer held by the LLC other than with  respect to 353,730  shares  representing
his proportionate ownership interest in the LLC.

      (b)  The  LLC  and  Mr.  Hambrecht  each  have  shared  voting  power  and
dispositive power over the 1,511,666 shares of Common Stock held by the LLC.

      (c)  Except as set forth  below,  neither  Mr.  Hambrecht  nor the LLC has
effected any transaction  involving the Issuer's Common Stock during the 60 days
prior to the date of this Amended Statement.

      Subsequent  to August 1,  2000,  the LLC made the  following  open  market
purchases or sales of Common Stock (these items were  purchases or sales made by
the LLC in its  capacity as market  maker for the Common  Stock and are a net of
all market  making  transactions  on that day with an average  price.  All dates
shown are settlement dates):


<PAGE>


CUSIP No. 338923 10 5                                               Page 8 of 10


      1.    Purchase of 2,407  shares of Common Stock on August 9, 2000 at $0.28
per share;

      2.    Purchase of 5,420 shares of Common Stock on August 10, 2000 at $0.25
per share;

      3.    Purchase of 36,000 shares of Common Stock on August 11, 2000 at $.14
per share;

      4.    Purchase  of 15,000  shares of Common  Stock on August  14,  2000 at
$0.11 per share;

      5.    Sale of 5,000  shares of Common  Stock on August 17,  2000 at $0.195
per share;

      6.    Purchase  of 10,000  shares of Common  Stock on August  23,  2000 at
$0.17 per share;

      7.    Purchase of 5,000  shares of Common  Stock on  September  1, 2000 at
$0.18 per share;

      8.    Sale of 5,000 shares of Common Stock on September  12, 2000 at $0.18
per share;

      9.    Purchase of 41,666  shares of Common Stock on September  15, 2000 at
$0.18 per share;

      10.   Purchase of 72,000  shares of Common Stock on September  18, 2000 at
$0.18 per share;

      11.   Purchase of 34,000  shares of Common Stock on September  20, 2000 at
$0.17 per share;

      12.   Purchase of 8,000 shares of Common  Stock on  September  21, 2000 at
$0.17 per share;

      13.   Purchase of 5,000 shares of Common  Stock on  September  25, 2000 at
$0.17 per share; and

      14.   Purchase of 55,000  shares of Common Stock on September  27, 2000 at
$0.19 per share.

      (d)   Except as set forth in this  Amended  Statement,  no other person is
known to have the  right to  receive  or the  power to  direct  the  receipt  of
dividends  from, or the proceeds from the sale of, the  securities of the Issuer
that are owned beneficially by the reporting persons.


<PAGE>


CUSIP No. 338923 10 5                                               Page 9 of 10


      (e)   Item 5(e) is not applicable to this Amended Statement.

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

      None.

ITEM 7.     MATERIAL TO BE FILED AS EXHIBITS.

      Exhibit A-Joint Filing Agreement dated as of October 3, 2000.


<PAGE>


CUSIP No. 338923 10 5                                              Page 10 of 10


                                   SIGNATURES

            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.

Date: October 3, 2000


                                   /s/ William R. Hambrecht
                                   -------------------------------------
                                   William R. Hambrecht



                                   WR Hambrecht & Co. LLC

                                   By: William R. Hambrecht,
                                   Manager

                                   /s/ William R. Hambrecht
                                   -------------------------------------
                                   William R. Hambrecht


<PAGE>


                                    EXHIBIT A

                             Joint Filing Agreement

      William R. Hambrecht and WR Hambrecht & Co. LLC ("Filing  Persons") hereby
agree to file jointly a Schedule 13D and any amendments  thereto relating to the
common stock, $.01 par value per share, of Flexiinternational  Software, Inc., a
Delaware  corporation,   as  permitted  by  Rule  13d-1  promulgated  under  the
Securities  Exchange Act of 1943, as amended.  Each of the Filing Persons agrees
that the information  set forth in such Schedule 13D and any amendments  thereto
with respect to such Filing Person will be true,  complete and correct as of the
date of such Schedule 13D or such amendment, to the best of such Filing Person's
knowledge and belief, after reasonable inquiry. Each of the Filing Persons makes
no  representations  as to the accuracy or adequacy of the information set forth
in the Schedule 13D or any  amendments  thereto with respect to any other Filing
Person. Each of the Filing Persons shall promptly notify the other Filing Person
if any of the  information  set  forth  in the  Schedule  13D or any  amendments
thereto shall become inaccurate in any material respect or if said person learns
of information that would require an amendment to the Schedule 13D.

      IN WITNESS  WHEREOF,  the undersigned have set their hands this 3rd day of
October, 2000.


                                   /s/ William R. Hambrecht
                                   -------------------------------------
                                   William R. Hambrecht



                                   WR Hambrecht & Co. LLC

                                   By: William R. Hambrecht,
                                   Manager


                                   /s/ William R. Hambrecht
                                   -------------------------------------
                                   William R. Hambrecht

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