<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Amendment No.: 1
Name of Issuer: Linkon Corporation
Title of Class of Securities: Common Stock
CUSIP Number: 535902100
(Name, Address and Telephone Number of Person
Authorized To Receive Notices and Communications)
Mr. Piers MacDonald
c/o Gulfstream Partners, L.P.
Two Greenwich Plaza, Suite 100
Greenwich, Connecticut 06830
(Date of Event which Requires Filing of this Statement)
May 26, 1999
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(e), 13d-1(f) or 13d-1(g), check the following box [ ].
Note: Schedules filed in paper format shall include a signed
original and five copies of the schedule, including all exhibits.
See Rule 13d-7(b) 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 the disclosures provided
in a prior cover page.
The information required in 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>
CUSIP No.: 535902100
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Piers M. MacDonald
2. Check the Appropriate Box if a Member of a Group
a.
b. X
3. SEC Use Only
4. Source of Funds
AF, WC
5. Check if Disclosure of Legal Proceedings is Required Pursuant
to Items 2(d) or 2(e)
6. Citizenship or Place of Organization
United States of America
Number of Shares Beneficially Owned by Each Reporting Person
With:
7. Sole Voting Power:
0
8. Shared Voting Power:
0
9. Sole Dispositive Power:
0
10. Shared Dispositive Power:
0
11. Aggregate Amount Beneficially Owned by Each Reporting Person
0
12. Check Box if the Aggregate Amount in Row (11) Excludes
Certain Shares [ ]
2
<PAGE>
13. Percent of Class Represented by Amount in Row (11)
0%
14. Type of Reporting Person
IN
3
<PAGE>
The purpose of this Amendment No. 1 to the previously filed
Schedule 13D is to report that Piers M. MacDonald (the "Reporting
Person") is no longer a more than five percent beneficial owner
in the Common Stock (the "Shares") of Linkon Corporation (the
"Issuer").
Item 1. Security and Issuer
No change.
Item 2. Identity and Background
No change.
Item 3. Source and Amount of Funds or Other Consideration
No change.
Item 4. Purpose of Transactions
No change.
Item 5. Interest in Securities of Issuer
As of the date hereof, the Reporting Person is no longer
a more than five percent beneficial owner in the Shares
of the Issuer.
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer
No change.
Item 7. Material to be Filed as Exhibits
1. A description of the transactions in the
Shares that were effected by the Reporting
Persons through open market transactions
during the 60 days through the date of this
filing is filed herewith as Exhibit A.
4
<PAGE>
Signature
The undersigned, after reasonable inquiry and to
the best of their knowledge and belief, certify that the
information set forth in this statement is true, complete
and correct.
/s/ Piers M. MacDonald
_____________________________
Piers M. MacDonald
June 22, 1999
5
<PAGE>
Exhibit A
SCHEDULE OF TRANSACTIONS - Piers M. MacDonald
Price Per Share
Date Shares Purchased or (Sold) (excluding commission)
____ __________________________ _____________________
4/20/99 (20,000) $0.830
4/23/99 (5,000) 1.020
5/3/99 (5,000) 0.920
5/3/99 (5,000) 0.920
5/5/99 (15,000) 0.820
5/7/99 (5,000) 0.750
5/10/99 (10,000) 0.670
5/10/99 (5,000) 0.625
5/17/99 (10,000) 0.520
5/18/99 (15,000) 0.430
5/24/99 (10,000) 0.740
5/26/99 (80,000) 0.500
5/26/99 (5,000) 0.500
5/26/99 (215,000) 0.390
5/27/99 (308,000) 0.390
5/27/99 (24,500) 0.390
5/27/99 (125,500) 0.390
00343001.AI2
6
