Securities and Exchange Commission
Washington, D. C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934 (Amendment No. 1 )*
Polyphase Corporation
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(Name of Issuer)
Common Stock, $0.01 par value
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(Title of Class of Securities)
731791109
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(CUSIP Number)
John E. McConnaughy, Jr., 1011 High Ridge Road, Stamford, Connecticut. 06905
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
June 10, 1999
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(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 which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
Check the following box if a fee is being paid with this statement [ ]. (A fee
is not required only if the reporting person: (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of less than five percent of such class.
See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
*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 any 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 purposes 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>
SCHEDULE 13D
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CUSIP No. 73179-11-09 Page 2 of 4 Pages
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1 NAME OF REPORTING PERSON
John E. McConnaughy, Jr.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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SEC USE ONLY
3
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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7 SOLE VOTING POWER
NUMBER OF 1,511,900 shares of Common Stock
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SHARES 8 SHARED VOTING POWER
BENEFICIALLY None
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OWNED BY 9 SOLE DISPOSITIVE POWER
REPORTING 1,511,900 shares of Common Stock
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PERSON WITH 10 SHARED DISPOSITIVE POWER
None
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
1,511,900 shares of Common Stock
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.08%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
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CUSIP No. 73179-11-09 Page 3 of 4 Pages
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Item 3. Source and Amount of Funds or Other Consideration.
Mr. McConnaughy purchased an aggregate of 1,511 ,900 shares of the issuer's
Common Stock for an aggregate price of $567,647.81, including commissions, as
set forth in the following table:
Date of Number Price Gross
Purchase of Shares Per Share (1) Purchase Price (2)
-------- --------- --------- --------------
12/09/98 172,900 $ 0.3125 $ 57,578.87
12/18/98 12,300 0.3125 4,154.25
12/21/98 14,800 0.3125 4,998.00
12/22/98 21,000 0.3125 7,090.50
12/23/98 14,900 0.3125 5,031.75
12/24/98 137,000 0.3125 46,240.25
12/28/98 90,800 0.3125 30,648.00
12/29/98 4,400 0.3125 1,488.00
12/30/98 81,100 0.3125 27,374.25
12/31/98 18,900 0.3125 6,381.75
1/25/99 30,000 0.3750 11,566.65
2/01/99 21,700 0.3750 8,796.50
2/02/99 48,300 0.3750 19,568.50
2/03/99 3,600 0.3750 1,466.00
2/04/99 3,800 0.3750 1,547.00
2/05/99 200 0.3750 89.00
2/08/99 100 0.3750 48.50
2/10/99 800 0.3750 332.00
2/11/99 7,900 0.3750 3,207.50
2/12/99 23,900 0.3750 9,687.50
2/17/99 59,700 0.3750 24,186.50
2/25/99 2,600 0.3125 885.50
3/01/99 100,000 0.3750 40,508.00
3/02/99 102,600 0.3750 41,561.00
3/03/99 7,400 0.3750 3,005.00
3/04/99 14,500 0.3750 5,880.50
3/05/99 500 0.3750 210.50
3/08/99 600 0.3750 251.00
3/09/99 1,000 0.3750 413.00
3/10/99 1,500 0.3750 615.50
3/29/99 9,900 0.3125 3,398.75
3/30/99 3,100 0.3125 1,069.75
3/31/99 5,200 0.3125 1.789.00
4/01/99 300 0.3125 110.75
4/05/99 16,400 0.3125 5,625.00
4/06/99 4,000 0.3125 1,378.00
4/07/99 5,000 0.3125 1,720.00
4/08/99 3,600 0.3125 1,241.00
4/09/99 70,000 0.3750 28,358.00
4/13/99 5,900 0.3750 2,397.50
4/14/99 17,600 0.3750 7,136.00
4/15/99 4,500 0.3750 1,830.00
4/16/99 1,000 0.3750 413.00
4/20/99 1,000 0.3750 413.00
<PAGE>
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CUSIP No. 73179-11-09 Page 4 of 4 Pages
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Date of Number Price Gross
Purchase of Shares Per Share (1) Purchase Price
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4/21/99 1,200 0.3750 494.00
4/22/99 200 0.3750 89.00
4/23/99 2,500 0.3750 1,020.50
4/27/99 800 0.3750 332.00
4/28/99 700 0.3750 333.50
4/29/99 317,200 0.3750 128,474.00
6/10/99 18,000 0.3750 7,118.00
6/11/99 25,000 0.3750 9,883.00
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(1) These prices exclude commissions.
(2) These prices include commissions.
The source of the funds for Mr. McConnaughy's purchases was personal funds, none
of which is represented by funds or other consideration borrowed or otherwise
obtained for the purpose of acquiring, holding, trading or voting the
securities, or by a loan from a bank in the ordinary course of business.
Item 5. Interest in Securities of the Issuer.
(a) Mr. McConnaughy owns 1,511,900 shares of the issuer's
Common Stock which currently represent 9.08% of theoutstanding shares of such
Stock.
(b) Mr. McConnaughy has the sole power to vote, direct the
vote, dispose and direct the disposition of all of the shares of Common Stock
which he owns. He does not share with anyone the power to vote, direct the vote,
dispose or direct the disposition of any other shares of Common Stock.
(c) No purchases or sales of the Common Stock have been made
by Mr. McConnaughy within the past 60 days except as set forth herein.
(d) No person other than Mr. McConnaughy has the right to
receive or the power to direct the receipt of dividends from, or the proceeds
from the sale of the 1,468,900 shares of Common Stock which he owns.
(e) 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 with respect to me is
true, complete and correct.
Dated: July 7, 1999
s/JOHN E. MCCONNAUGHY, JR.
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John E. McConnaughy, Jr.
