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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
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Executive Telecard, Ltd.
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(Name of Issuer)
Common Stock, $0.001 par value
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(Title of Class of Securities)
301601101
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(CUSIP Number)
February 16, 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)
*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).
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CUSIP No. 301601101 PAGE 2 OF 5 PAGES
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(1) Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Glady M. Jensen
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(2) Check the Appropriate Box if a Member (a) / /
of a Group (See Instructions) (b) / /
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(3) SEC Use Only
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(4) Citizenship or Place of Organization
United States
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Number of Shares (5) Sole Voting Power
Beneficially 3,352,941
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting Power
Person With: 0
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(7) Sole Dispositive Power
3,352,941
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(8) Shared Dispositive Power
0
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(9) Aggregate Amount Beneficially Owned by Each Reporting Person
3,352,941
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(10) Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) / /
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(11) Percent of Class Represented by Amount in Row (9)
18.9%
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(12) Type of Reporting Person (See Instructions)
IN
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CUSIP No. 301601101 PAGE 3 OF 5 PAGES
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ITEM 1.
(a) Name of Issuer:
Executive Telecard, Ltd., a Delaware corporation (the "Company")
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(b) Address of Issuer's Principal Executive Offices:
4260 East Evans Avenue, Denver, Colorado 80222
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ITEM 2.
(a) Name of Person Filing:
Gladys M. Jensen
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(b) Address of Principal Business Office or, if none, Residence:
850 Cannon, Suite 200, Hurst, Texas 76054
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(c) Citizenship:
United States
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(d) Title of Class of Securities:
Common Stock, $0.01 par value
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(e) CUSIP Number:
301601101
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ITEM 3. If this statement is filed pursuant to Rule 13d-1(b) or Rule
13d-2(b) or (c) check whether the person filing is a:
(a) / / Broker or dealer registered under section 15 of the Act
(15 U.S.C. 78o).
(b) / / Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
(c) / / Insurance company as defined in section 3(a)(19) of the Act
(15 U.S.C. 78c).
(d) / / Investment company registered under section 8 of the Investment
Company Act of 1940 (15 U.S.C. 80a-8).
(e) / / An investment adviser in accordance with section
240.13d-1(b)(1)(ii)(E).
(f) / / An employee benefit plan or endowment fund in accordance with
Rule 13d-1(b)(1)(ii)(F);
(g) / / A parent holding company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G);
(h) / / A savings association as defined in section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813).
(i) / / A church plan that is excluded from the definition of an investment
company under section 3(c)(14) of the Investment Company Act of 1940
(15 U.S.C. 80a-3).
(j) / / Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Rule 13d-1(c), check this box. /X/
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CUSIP No. 301601101 PAGE 4 OF 5 PAGES
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Item 4. Ownership
Item 4(a) Amount beneficially owned: 3,352,941
Item 4(b) Percent of class: 18.9%
The percentage calculations are based upon 17,725,466 shares of
Executive Telecard Common Stock outstanding on November 1, 1998, as reported
in the Company's most recent Quarterly Report Amendment on Form 10-Q, filed
February 16, 1999.
Item 4(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
3,352,941
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(ii) Shared power to vote or to direct the vote:
0
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(iii) Sole power to dispose or to direct the disposition of:
3,352,941
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(iv) Shared power to dispose or to direct the disposition of:
0
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Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following. / /
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.
Item 8. Identification and Classification of Members of the Group.
Not Applicable.
Item 9. Notice of Dissolution of Group.
Not Applicable.
Item 10. Certifications.
Item 10(a) Not Applicable.
Item 10(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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CUSIP No. 301601101 PAGE 5 OF 5 PAGES
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SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
Filing is true, complete and correct.
/s/ Gladys M. Jensen
March 9, 1999 ----------------------------------------
Gladys M. Jensen