SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Amendment No. 2
Under the Securities Exchange Act of 1934
US WATS, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
90337P109
(CUSIP Number)
Aloysius T. Lawn IV, Esq.
General Counsel and Secretary
Tel-Save Holdings, Inc.
6805 Route 202
New Hope, PA 18938
(215) 862-1500
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(Name, address and telephone number of persons authorized
to receive notices and communications
March 11, 1998
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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: _____
<PAGE>
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Tel-Save Holdings, Inc. 23-2827736
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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. Source of Funds
WC
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5. Check Box if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
Not Applicable
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6. Citizenship or Place of Organization
Delaware, United States
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Number of 7. Sole Voting Power
Shares 0 Common Shares
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Beneficially 8. Shared Voting Power
Owned By 0 Common Shares
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Each Reporting 9. Sole Dispositive Power
Person With 0 Common Shares
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10. Shared Dispositive Power
0 Common Shares
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11. Aggregate Amount Beneficially Owned by Each Reporting Person:
0 Common Shares
See Item 5
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
Not Applicable
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13. Percent of Class Represented by Amount in Row (11)
0%
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14. Type of Reporting Person
HC
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2
<PAGE>
AMENDMENT NO. 2
TO
SCHEDULE 13D
RELATING TO THE COMMON STOCK
OF
US WATS, INC.
Item 5 is hereby amended as follows:
Item 5. Interest in Securities of the Issuer.
On March 11, 1998, the Reporting Person sold 2,149,225 Common Shares at an
average price of $0.89 per share, which constituted all of the Common Shares
owned by the Reporting Person.
3
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of the knowledge and belief of each
reporting persons named below, each such reporting person certifies that the
information set forth in this statement is true, complete and correct. Each of
the undersigned reporting persons hereby agrees that this statement be and
hereby is filed on behalf of each such reporting person.
Tel-Save Holdings, Inc.
By: /s/ Aloysius T. Lawn IV, Esq.
------------------------------------
Name: Aloysius T. Lawn IV, Esq.
Title: General Counsel
and Secretary
Dated: March 20, 1998
