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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. 2)(1)
EXECUTONE INFORMATION SYSTEMS, INC.
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(Name of Issuer)
Common Stock, par value $.01 per share
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(Title of Class of Securities)
301607107
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(CUSIP Number)
September 1, 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)
(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
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13G
CUSIP NO. 301607107 Page 2 of 5 Pages
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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 3,085,151 shares of Common Stock
SHARES ---------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY -0-
EACH ---------------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON 3,085,151 shares of Common Stock
WITH ---------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
3,085,151 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)
4.91%
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12 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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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:
3,085,151
(b) Percent of class:
4.91%
(c) Number of shares to which such person has:
(i) Sole power to vote or to direct the vote 3,085,151.
(ii) Shared power to vote or to direct the vote -0-.
(iii) Sole power to dispose or to direct the disposition of
3,085,151.
(iv) Shared power to dispose or to direct the disposition of -0-.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
[ X ]
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
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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.
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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.
September 3, 1999
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BERKSHIRE BANCORP INC.
By: /s/ Steven Rosenberg
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Steven Rosenberg
President
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<TABLE>
<CAPTION>
SCHEDULE I
TO AMENDMENT NO. 1 TO SCHEDULE 13G
NATURE OF NO. OF PRICE
TRANSACTION DATE SHARES SOLD PER SHARE*
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<S> <C> <C> <C>
SALE 09/01/99 123,780 3.625
SALE 09/01/99 60,857 3.75
SALE 09/01/99 7,100 3.875
SALE 09/01/99 5,100 4.00
SALE 09/01/99 53,300 4.0625
TOTAL 250,137
</TABLE>
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* Before payment of commissions.
