SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 4)*
COLONIAL DATA TECHNOLOGIES CORP.
.................................................................
(Name of Issuer)
Common Stock par value $.01 per share
.................................................................
(Title of Class of Securities)
195642 10 3
.................................................................
(CUSIP Number)
Frederick P. Masotta, Jr. 105 Sanford Street
(203) 288-4135 Hamden, Connecticut 06515
.................................................................
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
July 18, 1995
.................................................................
(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 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).
13D
CUSIP No.195642 10 3
1 Name of Reporting Persons S.S. or I.R.S. Identification
Nos. of Above Persons
Frederick P. Masotta, Jr.
2 Check the Appropriate Box if a Member of a Group a)[ ]
(See Instructions) b)[X]
3 SEC Use Only
4 Source of Funds (See Instructions)
N/A
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)
[ ]
6 Citizenship or Place or Organization
U.S.
Number of 7 Sole Voting Power
Shares 669,284
Beneficially
Owned by 8 Shared Voting Power
Each -0-
Reporting
Person
With 9 Sole Dispositive Power
669,284
10 Shared Dispositive Power
-0-
11 Aggregate Amount Beneficially Owned by Each Reporting
Person
669,284
12 Check if the Aggregate Amount in Row (11) Excludes Certain
Shares (See Instructions) [ ]
13 Percent of Class Represented by Amount in Row (11)
4.34%
14 Type of Reporting Person (See Instructions)
IN
Item 1 - SECURITY AND ISSUER
This statement relates to shares of common stock, par
value $0.01 per share ("Common Stock") of Colonial Data
Technologies Corp., a Delaware corporation (formerly a
Massachusetts corporation) with its principal executive offices
located at 80 Pickett District Road, New Milford, Connecticut
06776.
Item 2 - IDENTITY AND BACKGROUND
1) (a) Name: Frederick A. Masotta, Jr.
(b) Business Address: 105 Sanford Street
Hamden, Connecticut 06515
(c) Principal employment and name, principal business and
address of employer:
President of
Craftsmen, Inc.
105 Sanford Street
Hamden, Connecticut 06515
Construction Company
(d) and (e) Legal Proceedings:
During the last five years, Mr. Masotta has not been
(i) convicted in a criminal proceeding (excluding
traffic violations and similar misdemeanors) or (ii) a
party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a
result of such proceeding 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 violation with respect to such laws.
(f) Citizenship: United States
Item 3 - SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The shares covered by this Schedule 13D were acquired
through the exchange of previously owned shares of Colonial Data
Technologies Corp., which was a privately held Delaware
corporation ("CDT"), which were exchanged for the shares of
Colonial Data Technologies Corp. (formerly Rise Technology,
Inc.), a Massachusetts corporation which changed its state of
incorporation to Delaware in May of 1995 (the issuer covered by
this Schedule 13D), pursuant to an Agreement and Plan of
Reorganization dated as of May 31, 1989, by and among Rise
Technology, Inc., CDT, and the stockholders and option holders of
CDT. The shares of CDT had previously been acquired with
personal funds of Mr. Masotta.
Item 4 - PURPOSE OF TRANSACTION
The purpose of the transaction was to permit Colonial
Data Technologies Corp. (formerly Rise Technology, Inc. and
hereafter referred to as "Colonial Data") to acquire all of the
issued and outstanding shares of CDT and to permit the former
stockholders of CDT to acquire control of Colonial Data. As a
result of the transaction, all of the former officers and
directors of Colonial Data resigned and the officers and
directors of CDT assumed such positions in Colonial Data. Upon
such assumption, Colonial Data, which had previously discontinued
any business operations other than reducing its assets to cash
and effectuating the transaction with CDT stockholders, continued
the operations of CDT as a wholly-owned subsidiary. Mr. Masotta
does not have any current intention to acquire or dispose of any
shares of Common Stock, provided that he may acquire or dispose
of shares in accordance with his investment requirements, and
except for the previously effected change disclosed in the
foregoing sentences of the reply to this item, Mr. Masotta does
not have any plans or proposals relating to any matter covered by
sub-items (a) through (j) of this item.
Item 5 - INTEREST IN SECURITIES OF ISSUER
(a) Mr. Masotta beneficially owns 669,284 shares of Common
Stock constituting 4.34% of the issued and outstanding
shares of Common Stock of Colonial Data based upon the
number of shares of Common Stock issued and outstanding
on July 18, 1995.
(b) Sole power to vote or direct the vote: 669,284
Shared power to vote or direct the vote: -0-
Sole power to dispose or direct the
disposition: 669,284
Shared power to dispose or direct the
disposition: -0-
(c) On July 18, 1995, Mr. Masotta completed the sale of
75,242 shares of Common Stock in an underwritten
registered public offering at a price of $22.625 per
share, before underwriting discount of $1.244 per
share. Of these shares, 6,522 were acquired from
Colonial Data on July 13, 1995 pursuant to the exercise
of outstanding stock options at an exercise price of
$.2088 per share.
(d) Not applicable.
(e) July 18, 1995.
Item 6 - CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR
RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER
Each of the directors, executive officers, selling
stockholders and certain other stockholders, including Mr.
Masotta has entered into a lock-up agreement with the
underwriters of the public offering described in Item 5 above,
whereby such individual will not dispose of the shares of Common
Stock of Colonial Data owned directly by such person or with
respect to which such person has the power of disposition for a
period of 180 days after June 13, 1995, without the prior written
consent of First Albany Corporation on behalf of itself and the
other underwriters.
Item 7 - MATERIAL TO BE FILED AS EXHIBITS
None
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.
July 20, 1995
.................................................................
Date
/s/ Frederick P. Masotta, Jr.
.................................................................
Signature
Frederick P. Masotta, Jr.
.................................................................
Name
