SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                  SCHEDULE 13D
                    Under the Securities Exchange Act of 1934
                               (Amendment No. 1)*

                       TRANSACT TECHNOLOGIES INCORPORATED
                                (Name of Issuer)

                                  COMMON STOCK
                         (Title of Class of Securities)

                                    892918103
                                 (CUSIP Number)

SILVERMAN,  COLLURA,  CHERNIS & BALZANO, P.C., 381 Park Avenue South Suite 1601,
NY, NY 10016

                    Attn: Michael H. Freedman (212) 779-8600
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
 Communications)
 
                              September 30, 1997
             (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 [ ].

Note: Six copies of this statement, including all exhibits, should be filed with
the  Commission.  See Rule  13d-l(a) 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).



CUSIP No. 892918103
- --------------------------------------------------------------------------------
     1) Names of Reporting Person and Social Security Number

          Jack Silver

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

          (a)               N/A
          (b)               N/A

- --------------------------------------------------------------------------------
     3) SEC Use Only

- --------------------------------------------------------------------------------
     4) Source of Funds       AF  PF  OO

- --------------------------------------------------------------------------------
     5) Check if Disclosure of Legal  Proceedings is Required  Pursuant to Items
        2(d) or 2(e)

- --------------------------------------------------------------------------------
     6) Citizenship or Place of Organization U.S.A.
                            ----------------------------------------------------
Number of Shares            (7) Sole Voting Power         0 Common Shares
Beneficially
Owned by Each               ----------------------------------------------------
Reporting Person            (8) Shared Voting Power       N/A
With
                            ----------------------------------------------------
                            (9) Sole Dispositive Power    0 Common Shares

                            ----------------------------------------------------
                            (10) Shared Dispositive Power N/A

- --------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by Each Reporting Person 0 Common Shares

- --------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares    N/A

- --------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11)    N/A

- --------------------------------------------------------------------------------
14) Type of Reporting Person     IN

- --------------------------------------------------------------------------------



Item 1.   Security and Issuer

     a.   The title of the class of equity  securities  to which this  statement
relates is Common Stock

     b.   The name and address of the principal executive officers of the issuer
of such securities is

          Transact Technologies, Inc., 7 Laser Lane, Wallingford, CT 06492

Item 2.   Identity and Background

     (a)  Jack Silver

     (b)  660 Madison Avenue, 15th Floor, New York, NY 10021

     (c)  Investor - Sherleigh  Associates,  660 Madison Avenue, 15th Floor, New
York, New York 10021

     (d)  During the last five years,  I have not been  convicted  in a criminal
proceeding.

     (e)  During  the  last  five  years  I have  not  been a  party  to a civil
proceeding of a judicial or administrative body of competent  jurisdiction and I
am not subject to a judgment,  decree or final order enjoining violations of, or
prohibiting or mandating  activities subject to federal or state securities laws
or finding of any violation with respect to such laws.

     (f)  U.S.A.

Item 3.   Source and Amount of Funds or Other Consideration

          N/A

Item 4.   The Purpose of Transaction

          N/A

Item 5.   Interest in Securities of the Issuer

     (a)  I do not beneficially own any Common Shares of the issuer.

     (b)  Not applicable.

     (c)  The following is a description  of my sales in the class of securities
reported herein that were affected during the past 60 days:

     Owner                               Amount              Net Proceeds
     -----                               ------              ------------

     Jack Silver                         185,132              $3,283,744



     Jack Silver and
      Shirley Silver Foundation           35,025               $ 636,896
     Shirly Silver C/F
      Leigh Silver                        10,050               $ 187,061
     Shirley Silver C/F
      Romy Silver                         10,050               $ 187,061
     Shirley Silver Trust
      FBO Leigh Silver                    17,536               $ 331,884
     Shirley Silver Trust
      FBO Romy Silver                     17,536               $ 331,884
     Sherleigh Associates                 20,100               $ 342,642
     Sherleigh Associates
      Defined Benefit Pension             62,790              $1,170,670
     Sherleigh Associates
      Profit Sharing Plan                230,350              $4,015,438

     The  foregoing  sales were  consummated  via brokerage  transactions  which
occurred within the 60 day period predating this filing.

     (d)  There is no other  person  known to have the right to  receive  or the
power to direct the receipt of dividends  from or proceeds from the sale of such
securities.

     (e)  On September 30, 1997, the reporting  person ceased to be a beneficial
owner of more than 5% of the Common Shares.

Item 6.   Contracts, Arrangements, Understandings or Relationships
          with Respect to Securities of the Issuer

     There  are no  contracts,  arrangements,  understandings  or  relationships
(legal or  otherwise)  among myself and between such persons and any person with
respect to any securities of the issuer including but not limited to transfer of
voting of any of the securities,  finders fees,  joint ventures,  loan or option
arrangements,  put or calls, guarantees of profits, division of profits or loss,
or the  giving  or  holding  of  proxies,  naming  the  persons  with  whom such
contracts, arrangements,  understandings or relationships have been entered into
and this includes such information for any of the securities that are pledged or
otherwise  subject to a contingency  the  occurrence of which would give another
person voting power or investment payor over such securities.

Item 7.   Material to be Filed as Exhibits.

               N/A



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.

November 12, 1997
- ------------------------------
Date

       /s/ Jack Silver
- ------------------------------
Signature

         JACK SILVER
- ------------------------------
Name/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 signed
on behalf of a person by his authorized  representative (other than an executive
officer  or  general   partner  of  this   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 name and any title of each person who signs the statement  shall be typed or
printed beneath his signature.

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