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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_____________________
SCHEDULE 13G
(Rule 13d-102)
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
Spyglass, Inc.
(Name of Issuer)
Common Stock, $.01 par value per share
(Title of Class of Securities)
852192103
(CUSIP Number)
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SCHEDULE 13G
CUSIP No. 852192103 Page 2 of 7
____________________________________________________________________________
1. Name of Reporting Persons
S.S. or I.R.S. Identification Number of Above Persons
Timothy K. Krauskopf
###-##-####
____________________________________________________________________________
2. Check the Appropriate Box if a Member of a Group - Not Applicable
____________________________________________________________________________
3. SEC Use Only
____________________________________________________________________________
4. Citizenship or Place of Organization
United States of America
____________________________________________________________________________
Number of Shares Beneficially Owned By Each Reporting Person With;
5. Sole Voting Power:
624,375 shares (includes 127,375 shares which Mr. Krauskopf has the right
to acquire within 60 days after December 31, 1996);
____________________________________________________________________________
6. Shared Voting Power:
0 shares;
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CUSIP No. 852192103 Page 3 of 7
____________________________________________________________________________
7. Sole Dispositive Power:
624,375 shares (includes 127,375 shares which Mr. Krauskopf has the right
to acquire within 60 days after December 31, 1996);
____________________________________________________________________________
8. Shared Dispositive Power:
0 shares.
____________________________________________________________________________
9. Aggregate Amount Beneficially Owned by Each Reporting Person.
624,375 shares (includes 127,375 shares which Mr. Krauskopf has the right
to acquire within 60 days after December 31, 1996)
____________________________________________________________________________
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares.
Not Applicable
____________________________________________________________________________
11. Percent of Class Represented by Amount in Row 9.
5.2%
____________________________________________________________________________
12. Type of Reporting Person.
IN
____________________________________________________________________________
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CUSIP No. 852192103 Page 4 of 7
SCHEDULE 13G
Item 1(a). Name of Issuer:
- ---------------------------
Spyglass, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
- ------------------------------------------------------------
Naperville Corporate Center
1240 East Diehl Road
Naperville, Illinois, 60563
Item 2(a). Name of Person Filing:
- ----------------------------------
Timothy K. Krauskopf
Item 2(b). Address of
Principal Business Office or, if None, Residence:
- -------------------------------------------------
c/o Spyglass, Inc.
Naperville Corporate Center
1240 East Diehl Road
Naperville, Illinois, 60563
Item 2(c). Citizenship:
- ------------------------
United States of America
Item 2(d). Title of Class of Securities:
- -----------------------------------------
Common Stock, $.01 par value per share
Item 2(e). CUSIP Number:
- -------------------------
852192103
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CUSIP No. 852192103 Page 5 of 7
Item 3:
- -------
Not Applicable
Item 4. Ownership:
- -------------------
(a) Amount Beneficially Owned:
624,375 shares (includes 127,375 shares which Mr. Krauskopf has the right
to acquire within 60 days after December 31, 1996)
(b) Percent of Class:
5.2%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
624,375 shares (includes 127,375 shares which Mr. Krauskopf has
the right to acquire within 60 days after December 31, 1996);
(ii) shared power to vote or to direct the vote:
0 shares;
(iii) sole power to dispose or to direct the
disposition of:
624,375 shares (includes 127,375 shares which Mr. Krauskopf has
the right to acquire within 60 days after December 31, 1996);
(iv) shared power to dispose or to direct the
disposition of:
0 Shares.
Item 5. Ownership of Five Percent or Less of a Class:
- ------------------------------------------------------
Not Applicable
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CUSIP No. 852192103 Page 6 of 7
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 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:
- ------------------------
Not Applicable
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CUSIP No. 852192103 Page 7 of 7
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.
February 10, 1997
---------------------------------
Date
/s/ Timothy K. Krauskopf
---------------------------------
Timothy K. Krauskopf
Chief Technical Officer and a
Director of the Issuer
