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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b) AND (c) AND AMENDMENTS THERETO FILED
PURSUANT TO 13d-2(b)
DigiTEC 2000, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
25387T106
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(CUSIP Number)
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CUSIP No. 25387T106 13G Page 2 of 2 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Telephone Electronics Corporation
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Mississippi
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5 SOLE VOTING POWER
NUMBER OF 1,475,126
SHARES -------------------------------------------------
6 SHARED VOTING POWER
BENEFICIALLY
None
OWNED BY
------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 1,475,126
PERSON ------------------------------------------------
8 SHARED DISPOSITIVE POWER
WITH
None
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,475,126
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
29% (See Item 4(b), below.)
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12 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTION BEFORE FILLING OUT!
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Item 1(a). Name of Issuer:
DigiTEC 2000, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
8 West 38th Street, 5th Floor
New York, New York 10118
Item 2(a). Name of Person Filing:
Telephone Electronics Corporation
Item 2(b). Address of Principal Business Office or, if none, residence:
236 East Capital Street
Jackson, Mississippi 39225
Item 2(c). Citizenship:
Mississippi
Item 2(d). Title of Class of Securities:
Common Stock
Item 2(e). CUSIP Number:
25387T106
Item 3. If this statement is filed pursuant to Rules 13d-1(b) or
13d-2(b), check whether the person filing is a:
Not Applicable
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Item 4. Ownership.
(a) Amount beneficially owned:
1,475,126
(b) Percent of class:
29% (Based on total outstanding shares of 5,064,801 as of
November 18, 1997, as reported in DigiTEC's Form 10-Q for the
quarter ended September 30, 1997.)
(c) Number of shares as to which such person has:
<TABLE>
<S> <C>
(i) Sole power to vote or to direct the vote: 1,475,126
---------
(ii) Shared power to vote or to direct the vote: 0
---------
(iii) Sole power to dispose or to direct the disposition of: 1,475,126
---------
(iv) Shared power to dispose or to direct the disposition of: 0
---------
</TABLE>
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:
Not Applicable
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Item 9. Notice of Dissolution of Group:
Not Applicable
Item 10. Certification:
Not Applicable
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 10, 1998
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(Date)
TELEPHONE ELECTRONICS CORPORATION
/s/ Robert J. Healea
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By: Robert J. Healea
Vice President and Chief
Financial Officer
