UNITED STATES
                     SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C. 20549

                                SCHEDULE 13G

                  Under the Securities Exchange Act of 1934

                             (Amendment No. 1)*

                            BITWISE DESIGNS, INC.
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                              (Name of Issuer)

                  Common Stock, par value $.001 per share.
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                       (Title of Class of Securities)

                                  091747105
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                               (CUSIP Number)

                               March 17, 2000
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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-(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 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).

CUSIP No.  091747105
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1.  Name of Reporting Persons

        RW Capital, LLC

    I.R.S. Identification Nos. of above persons (entities only). 11-3487900

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2.  Check the Appropriate Box if a Member of a Group (See Instructions)

    (a)  N/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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Number of           5.  Sole Voting Power           644,998
Shares Bene-        6.  Shared Voting Power               0
ficially Owned      7.  Sole Dispositive Power      644,998
by Each             8.  Shares Dispositive Power          0
Reporting Person
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9.  Aggregate Amount Beneficially Owned by Each Reporting Person   644,998(1)

10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares      [ ]
    (See instructions)

11. Percent of Class Represented by Amount in Row (9) 4.8%
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12. Type of Reporting Person (See Instructions)    OO
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(1)   Does not include any shares which may be held incidental to market
      making activities of First Providence Financial Group, LLC, a registered
      broker-dealer and an affiliate of the reporting person.


Item  1.

      (a) Name of Issuer

             BITWISE DESIGNS, INC.

      (b) Address of Issuer's Principal Executive Offices

             2165 Technology Drive, Schenectady, NY 12308

Item  2.

      (a) Name of Person Filing

             RW CAPITAL, INC.

      (b) Address of Principal Business Office or, if none, Residence

             53 Salisbury Run, Mount Sinai, New York 11766

      (c) Citizenship

             Delaware, U.S.

      (d) Title of Class of Securities

             Common Stock, par value $.001 per share.

      (e) CUSIP Number: 091747105

Item  3. If this statement is filed pursuant to [SECTIONS]240.13d-1(b) or
         240.13d-2(b) or (c), check whether the person filing is a:

             N/A

Item  4. Ownership

      Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.

      1.  Amount beneficially owned: 644,998 (see footnote 1, above)

      2.  Percent of class:  4.8%

      3.  Number of shares as to which the person has:

          1.  Sole power to vote or to direct the vote: 644,998

          2.  Shared power to vote or to direct the vote: 0

          3.  Sole power to dispose or to direct the disposition of: 644,998

          4.  Shared power to dispose or to direct the disposition of: 0

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

             N/A
Item  7. Identification and Classification of the subsidiary Which Acquired
         the Security Being Reported on By the Parent Holding Company

             N/A

Item  8. Identification and Classification of Members of the Group

             N/A

Item  9. Notice of Dissolution of Group

             N/A

Item 10. Certification

(a)   The following certification shall be included if the statement is filed
pursuant to [SECTION]240.ad3-1(c):

             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.

                                  SIGNATURE

      After reasonable inquiry and to the best of my knowledge an belief, I
certify that the information set forth in this statement is true, complete and
correct.

March 27, 2000
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     Date

/S/ RW CAPITAL, LLC
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Signature

PAUL WASSERMAN, MANAGER
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Name and Title

      The original statement shall be signed by each person on whose behalf
the statement is filed or his authorized representative. If the statement is
singed on behalf of a person by his authorized representative other than an
executive officer or general partner of the filing person, evidence of the
representative's authority to sign on behalf of such person shall be filed
with the statement provided, however, that a power of attorney for this
purpose which is already on file with the Commission may be incorporated by
reference. The same and any title of each person who signs the statement shall
be typed or printed beneath his signature.

NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See [SECTION]240.13d-7 for
other parties for whom copies are to be sent.

      Attention: Intentional misstatements or omissions of fact constitute
Federal criminal violations (See 18 U.S.C. 1001)