<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13G
(RULE 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO 13d-2(b)
(AMENDMENT NO. 1)(1)
EXECUTONE INFORMATION SYSTEMS, INC.
--------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $.01 per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
301607107
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(CUSIP Number)
July 22, 1999
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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)
[ X ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
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(1) 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).
Page 1 of 5 Pages
<PAGE>
13G
CUSIP NO. 301607107 Page 2 of 5 Pages
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<TABLE>
<S> <C> <C>
- ---------------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Berkshire Bancorp Inc.
94-2563513
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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
Delaware
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5 SOLE VOTING POWER
NUMBER OF 3,335,288 shares of Common Stock
SHARES -----------------------------------------------------------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY -0-
EACH
REPORTING -----------------------------------------------------------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH 3,335,288 shares of Common Stock
-----------------------------------------------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,335,288 shares of Common Stock
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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)
5.3%
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12 TYPE OF REPORTING PERSON*
CO
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</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Page 3 of 5 Pages
ITEM 1(a). NAME OF ISSUER:
Executone Information Systems, Inc.
ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
478 Wheelers Farms Road
Milford, CT 06460
ITEM 2(a). NAME OF PERSON FILING:
Berkshire Bancorp Inc.
ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
160 Broadway
New York, NY 10038
ITEM 2(c). CITIZENSHIP:
Not Applicable
ITEM 2(d). TITLE OF CLASS OF SECURITIES:
Common Stock, Par Value $.01 Per Share
ITEM 2(e). CUSIP NUMBER:
301607107
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(b), OR
13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:
(a) - (j). Not Applicable
If this statement is filed pursuant to Rule 13d-1(c), check
this box. [ X ]
ITEM 4. OWNERSHIP.
(a) Amount beneficially owned:
3,335,288
(b) Percent of class:
5.3%
(c) Number of shares to which such person has:
(i) Sole power to vote or to direct the vote 3,335,288.
(ii) Shared power to vote or to direct the vote -0-.
(iii) Sole power to dispose or to direct the disposition
of 3,335,288.
(iv) Shared power to dispose or to direct the disposition of -0-.
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
<PAGE>
Page 4 of 5 Pages
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Not Applicable
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not Applicable
ITEM 10. CERTIFICATIONS.
(b) 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.
<PAGE>
Page 5 of 5 Pages
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.
August 19, 1999
_________________
BERKSHIRE BANCORP INC.
By: /s/ Steven Rosenberg
___________________________
Steven Rosenberg
President
<PAGE>
SCHEDULE I
TO AMENDMENT NO. 1 TO SCHEDULE 13G
<TABLE>
<CAPTION>
NATURE OF NO. OF PRICE
TRANSACTION DATE SHARES SOLD PER SHARE*
- ----------- -------- ----------- ---------
<S> <C> <C> <C>
SALE 04/16/99 6,600 10.4375
SALE 04/16/99 10,000 10.375
SALE 04/16/99 30,000 10.25
SALE 04/16/99 4,900 10.1875
SALE 04/16/99 1,000 10.15625
SALE 04/16/99 9,100 10.125
SALE 04/16/99 1,000 10.09375
SALE 04/16/99 1,000 10.06641
SALE 04/16/99 10,000 10.0625
SALE 04/16/99 1,000 10.03516
SALE 04/16/99 6,900 10.03125
SALE 04/16/99 500 10.01562
SALE 04/16/99 14,600 10.00
SALE 04/16/99 3,400 9.5625
SALE 04/19/99 1,100 10.75
SALE 04/20/99 500 8.3125
SALE 04/20/99 400 8.28125
SALE 04/20/99 900 8.8125
SALE 04/20/99 2,100 8.78125
SALE 04/20/99 7,000 8.75
SALE 04/20/99 200 8.65625
SALE 04/20/99 19,800 8.625
SALE 04/20/99 19,000 8.25
SALE 04/27/99 10,000 8.375
SALE 04/27/99 10,000 8.4375
SALE 04/27/99 4,700 8.50
SALE 06/03/99 9,900 5.125
SALE 06/03/99 100 5.1875
SALE 06/04/99 1,400 4.875
SALE 06/04/99 22,700 5.00
SALE 06/04/99 5,900 5.0625
SALE 06/05/99 10,000 5.00
SALE 06/08/99 10,000 4.50
SALE 06/08/99 10,000 4.625
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
NATURE OF NO. OF PRICE
TRANSACTION DATE SHARES SOLD PER SHARE*
- ----------- -------- ----------- ---------
<S> <C> <C> <C>
SALE 06/10/99 10,000 5.0625
SALE 06/10/99 8,500 4.75
SALE 06/10/99 1,000 4.78125
SALE 06/10/99 500 4.875
SALE 06/10/99 7,000 5.00
SALE 06/11/99 10,000 4.75
SALE 07/01/99 16,700 4.00
SALE 07/01/99 3,100 4.0625
SALE 07/01/99 200 4.09375
SALE 07/07/99 10,000 4.00
SALE 07/07/99 10,000 4.03125
SALE 07/09/99 10,000 4.03125
SALE 07/09/99 10,000 4.00
SALE 07/09/99 10,000 4.03125
SALE 07/09/99 6,300 4.09375
SALE 07/14/99 5,300 4.0625
SALE 07/14/99 1,400 4.09375
SALE 07/14/99 9,000 4.125
SALE 07/14/99 4,300 4.15625
SALE 07/15/99 20,000 4.5625
SALE 07/15/99 10,000 4.375
SALE 07/15/99 10,000 4.50
SALE 07/15/99 10,000 4.53125
SALE 07/15/99 10,000 4.5625
SALE 07/15/99 20,000 4.625
SALE 07/15/99 10,000 4.8125
SALE 07/15/99 10,000 4.75
SALE 07/16/99 15,000 4.25
SALE 07/16/99 1,200 4.3125
SALE 07/16/99 8,800 4.40625
SALE 07/19/99 19,600 4.25
SALE 07/19/99 300 4.28125
SALE 07/19/99 10,100 4.3125
SALE 07/20/99 10,000 4.1875
SALE 07/20/99 10,000 4.28125
SALE 07/20/99 9,900 4.375
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
NATURE OF NO. OF PRICE
TRANSACTION DATE SHARES SOLD PER SHARE*
- ----------- -------- ----------- ---------
<S> <C> <C> <C>
SALE 07/20/99 100 4.40625
SALE 07/20/99 20,000 4.46875
SALE 07/20/99 10,000 4.50
SALE 07/21/99 5,500 4.5625
SALE 07/21/99 20,000 4.59375
SALE 07/21/99 4,500 4.65625
SALE 07/22/99 10,000 4.6875
SALE 07/22/99 10,000 4.8125
SALE 07/22/99 10,000 4.875
SALE 07/22/99 10,000 4.9375
SALE 07/22/99 10,000 4.96875
SALE 07/22/99 10,000 5.00
SALE 07/22/99 10,000 5.0625
SALE 07/22/99 10,000 5.125
SALE 07/22/99 10,000 5.1875
SALE 07/22/99 10,000 5.25
SALE 07/22/97 10,000 5.3125
SALE 07/22/99 10,000 5.375
SALE 07/22/99 10,000 5.4375
SALE 07/27/99 6,700 4.25
SALE 07/27/99 10,000 4.25
SALE 07/27/99 10,000 4.28125
SALE 07/29/99 16,616 4.4375
SALE 07/29/99 4,500 4.375
SALE 07/29/99 5,500 4.3125
SALE 07/29/99 19,000 4.25
SALE 08/02/99 16,900 4.25
SALE 08/03/99 12,700 4.25
SALE 08/16/99 2,000 4.00
TOTAL 857,916
</TABLE>
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* Before payment of commissions.
