0001104659-08-005837.txt : 20080131 0001104659-08-005837.hdr.sgml : 20080131 20080130190226 ACCESSION NUMBER: 0001104659-08-005837 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20080131 DATE AS OF CHANGE: 20080130 GROUP MEMBERS: CLIVE FLEISSIG GROUP MEMBERS: MARBRE SERVICES, LTD. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: TRANSWITCH CORP /DE CENTRAL INDEX KEY: 0000944739 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 061236189 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-49087 FILM NUMBER: 08562322 BUSINESS ADDRESS: STREET 1: THREE ENTERPRISE DRIVE CITY: SHELTON STATE: CT ZIP: 06484 BUSINESS PHONE: 2039298810 MAIL ADDRESS: STREET 1: THREE ENTERPRISE DRIVE CITY: SHELTON STATE: CT ZIP: 06484 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BRENER INTERNATIONAL GROUP LLC CENTRAL INDEX KEY: 0001177491 IRS NUMBER: 954718217 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 421 N BEVERLY DR STREET 2: SUITE 300 CITY: BEVERLY HILLS STATE: CA ZIP: 90210 BUSINESS PHONE: 3105537009 MAIL ADDRESS: STREET 1: 421 N BEVERLY DR STREET 2: SUITE 300 CITY: BEVERLY HILLS STATE: CA ZIP: 90210 SC 13D/A 1 a08-4103_1sc13da.htm SC 13D/A

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

	SCHEDULE 13D

Under the Securities Exchange Act of 1934
(Amendment No. 1)

Transwitch Corporation

(Name of Issuer)

Common Stock, par value $.001 per share

(Title of Class of Securities)

894065101

(CUSIP Number)

Jeffrey C. Soza, Esq.

Christensen, Glaser, Fink, Jacobs, Weil & Shapiro, LLP

10250 Constellation Blvd,.19^th Floor

Los Angeles, CA 90067

(310) 553-3000

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

January 30, 2008

(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 that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. o

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

^* 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).

This Amendment No. 1 amends and supplements the Statement on Schedule 13D filed on December 31, 2007 with the Securities and Exchange Commission by Brener International Group, LLC ("BIG"), Marbre Services, Ltd. and Clive Fleissig relating to the common stock, par value $.001 per share of Transwitch Corporation (the "Company"). Capitalized terms used herein and not otherwise defined in this Amendment No. 1 shall have the meanings set forth in the Schedule 13D.

1. Item 4 of the Schedule 13D is hereby amended by adding the following:

On January 30, 2008 BIG sent a letter to the Board of Directors of the Company in which, among other things, BIG urged the Board of Directors to adopt a stock repurchase program. A copy of such letter is attached hereto as Exhibit 99.1 and incorporated herein by reference.

2. Item 7 of the Schedule 13D is herby amended by adding the following:

Exhibit 99.1 Letter dated January 30, 2008 from BIG to the Board of Directors of the Company.

3. Except as specifically provided herein, this amendment does not modify any of the information previously reported in the Schedule 13D.

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.

January 30, 2008
	Brener International Group, LLC


	By:	GABRIEL BRENER
	Name: Gabriel Brener
	Title: Chairman and Chief Executive Officer


	Marbre Services, Ltd.


	By:	RUDY VALNER
	Name: Rudy Valner
	Title: Authorized Agent


	CLIVE FLEISSIG
	Clive Fleissig

EX-99.1 2 a08-4103_1ex99d1.htm EX-99.1

Exhibit 99.1

January 30, 2008

Board of Directors

Transwitch Corporation

Three Enterprise drive

Shelton, CT 06484

Gentlemen:

The Company’s recent earnings announcement continues its practice of lowering stockholders’ expectations then failing to meet them. Meanwhile, the stockholders must sit idly by as the value of their investment plummets due to management’s inability to execute its business plan.

The Company recently announced net loss of $19.7 million ($.I5 per share) for 2007. In announcing a net loss more than 80% larger than in 2006 ($10.9 million net loss, or $.09 per share) the Company expressed its belief that 2007 was the trough and 2008 will be a stronger year for the Company and its industry. Yet, the Company tells its stockholders to expect a loss in the first quarter of 2008 33% higher than the loss in the fourth quarter of 2007. Some trough! Should stockholders expect better results for the remainder of the year?

The Board appears to have adopted a do nothing strategy while the Company falls apart. In the last 12 months the stock has fallen over 70% from its high of $2.07, resulting in more than $180 million of lost wealth by stockholders and placing the company in jeopardy of delisting. Despite the dramatic drop in the stock price, the Company has taken no action to support the stock. In fact, during the last 12 months neither the Company nor any director or executive officer has purchased stock, despite the historically low stock price and the Company’s statements that the end of the trough is near. The Company has over $35 million of cash and only $8.6 million of current liabilities. In addition, according to the Company, the Company is only weeks away from a large order from a customer. The Company clearly has adequate resources to repurchase a significant amount of its outstanding shares. I urge the Board to adopt a stock repurchase program.

P.O. Box 10119 Beverly Hills, CA 90213-3119 tel 310.553.7009 *fax 310.553.1637 www.brenergroup.com

The Board needs to clearly articulate its strategy to end the stockholders’ suffering. The Board also needs to critically review the performance of management, keeping in mind that they have lost all credibility with the investment community.

Very truly yours,

	/s/ Gabriel Brener
GABRIEL BRENER

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