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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
GLOBAL TELECOMMUNICATION SOLUTIONS, INC.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
37935Y2063
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(CUSIP Number)
*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. 37935Y2063
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1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Laifer Capital Management, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) / /
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
68,726
NUMBER OF ---------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY ---------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 68,726
PERSON ---------------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
71,197
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
139,923
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10 CHECK 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)
2.7%
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12 TYPE OF REPORTING PERSON (See Instructions)
CO, IA
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Item 1. (a) Name of Issuer:
Global Telecommunication Solutions, Inc.
(b) Address of Issuer's Principal Executive Offices or,
if none, Residence:
5697 Rising Sun Avenue
Philadelphia, PA 19102
Item 2. (a) Name of Person Filing:
Laifer Capital Management, Inc.
(b) Address of Principal Business Office or, if none,
Residence:
45 West 45th Street
New York, New York 10036
(c) Citizenship:
Delaware
(d) Title of Class of Securities:
Common Stock
(e) CUSIP Number:
37935Y2063
Item 3. If this statement is being filed pursuant to Rule 13d-1(b),
or 13d-2(b), check whether the person filing is an:
(a)[ ] Broker or Dealer registered under Section 15 of the Act
(b)[ ] Bank as defined in section 3(a)(6) of the Act
(c)[ ] Insurance Company as defined in section 3(a)(19) of the
Act
(d)[ ] Investment Company registered under section 8 of the
Investment Company Act
(e)[x] Investment Adviser registered under section 203 of the
Investment Advisers Act of 1940
(f)[ ] Employee Benefit Plan, Pension Fund which is subject to
the provisions of the Employee Retirement Income
Security Act of 1974 or Endowment Fund; see
13d-1(b)(1)(ii)(F)
(g)[ ] Parent Holding Company, in accordance with
13d-1(b)(ii)(G) (Note: See Item 7)
(h)[ ] Group, in accordance with 13d-1(b)(1)(ii)(H)
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Item 4. Ownership:
(a) Amount Beneficially Owned: 139,923
(b) Percent of Class: 2.7%
(c) Number of Shares as to which such person has:
(i) sole power to vote or direct the
vote - 68,726
(ii) shared power to vote or direct the vote - 0
(iii) sole power to dispose or direct the disposition
of - 68,726
(iv) shared power to dispose or direct the
disposition of - 71,197
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 /X/.
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. Certification:
By signing below I certify that, to the best of my
knowledge and belief, the securities referred to
above were acquired in the ordinary course of
business and were not acquired for the purpose of and
do not have the effect of changing or influencing the
control of the issuer of such securities and were not
acquired in connection with or as a participant in
any transaction having such purpose or effect.
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Signature
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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.
LAIFER CAPITAL MANAGEMENT, INC.
BY: /s/Lance Laifer
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Lance Laifer
President
Dated: February 11, 1998
