================================================================================

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

        Date of Report 
(Date of earliest event reported):                Commission File Number:
          MAY 14, 1999                                    1-10210


                            EXECUTIVE TELECARD, LTD.
             (Exact name of registrant as specified in its charter)


                 DELAWARE                                    13-3486421
                 --------                                    ----------
       (State or other jurisdiction                         (IRS Employer
             of incorporation)                         Identification Number)

                      2000 PENNSYLVANIA AVENUE, SUITE 4800
                             WASHINGTON, D.C. 20006
              (Address of principal executive offices) (Zip Code)


               Registrant's telephone number, including area code:
                                 (303) 691-2115


          (Former name or former address, if changed since last report)

                                 NOT APPLICABLE

================================================================================
<PAGE>

                            EXECUTIVE TELECARD, LTD.

ITEM 5   OTHER EVENTS

         On May 14, 1999,  the Board of Directors  of Executive  TeleCard,  Ltd.
(the  "Company")  voted  to  repealed  the  Company's   existing  "poison  pill"
shareholder rights plan (the "Rights Plan").

         In place of the "poison  pill," the Board is  proposing an amendment to
eGlobe's  certificate of  incorporation  for approval at the Company's  upcoming
Annual  Meeting.  The  amendment  replaces  the  repealed  "poison  pill" with a
provision that requires any party who has begun to gain effective control of the
Company  because of his ownership of the Company's  stock to make a tender offer
for the Company. eGlobe's Annual Meeting is expected to occur in June, 1999.

         eGlobe's Chairman and CEO,  Christopher  Vizas, said, "The shareholders
own this Company.  The Board and our management  team believe it is the right of
the  shareholders to decide whether or not they sell this business.  Where there
is a cash  offer,  there is no need to go through the Board.  The 'poison  pill'
shareholder rights plan implemented by the previous management and control group
was, in our view, too restrictive. The Board's action today is evidence of their
confidence in the current management team and the Company's ongoing strategy."

         Enclosed  as  Exhibit 99.1 to this  Current  Report  on  Form  8-K  and
incorporated  herein by reference is the text of the May 17, 1999 press  release
announcing the repeal of the Rights Plan.

ITEM 7   FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS

         (c) Exhibits.

        99.1  Press  Release  dated May 17,  1999  regarding  the  repeal of the
              Company's existing "poison pill" shareholder rights plan.


                                       2
<PAGE>
                                    SIGNATURE

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  Registrant  has duly  caused  this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                           EXECUTIVE TELECARD, LTD.

Date:  May 18, 1999                          By:  /s/ Christopher J. Vizas
                                                  ------------------------
                                                     Christopher J. Vizas
                                                      Chief Executive Officer



                                       3
<PAGE>


                                  EXHIBIT INDEX

       Exhibit           Description
       -------           -----------

        99.1  Press  Release  dated May 17,  1999  regarding  the  repeal of the
              Company's existing "poison pill" shareholder rights plan.
[{"type": "8-K", "sequence": "1", "description": "FORM 8-K", "secsgml_size_bytes": 4289}]
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================================================================================

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

        Date of Report 
(Date of earliest event reported):                Commission File Number:
          MAY 14, 1999                                    1-10210

                            EXECUTIVE TELECARD, LTD.
             (Exact name of registrant as specified in its charter)

                 DELAWARE                                    13-3486421
                 --------                                    ----------
       (State or other jurisdiction                         (IRS Employer
             of incorporation)                         Identification Number)

                      2000 PENNSYLVANIA AVENUE, SUITE 4800
                             WASHINGTON, D.C. 20006
              (Address of principal executive offices) (Zip Code)

               Registrant's telephone number, including area code:
                                 (303) 691-2115

          (Former name or former address, if changed since last report)

                                 NOT APPLICABLE

================================================================================
EXECUTIVE TELECARD, LTD.

ITEM 5   OTHER EVENTS

         On May 14, 1999,  the Board of Directors  of Executive  TeleCard,  Ltd.
(the  "Company")  voted  to  repealed  the  Company's   existing  "poison  pill"
shareholder rights plan (the "Rights Plan").

         In place of the "poison  pill," the Board is  proposing an amendment to
eGlobe's  certificate of  incorporation  for approval at the Company's  upcoming
Annual  Meeting.  The  amendment  replaces  the  repealed  "poison  pill" with a
provision that requires any party who has begun to gain effective control of the
Company  because of his ownership of the Company's  stock to make a tender offer
for the Company. eGlobe's Annual Meeting is expected to occur in June, 1999.

         eGlobe's Chairman and CEO,  Christopher  Vizas, said, "The shareholders
own this Company.  The Board and our management  team believe it is the right of
the  shareholders to decide whether or not they sell this business.  Where there
is a cash  offer,  there is no need to go through the Board.  The 'poison  pill'
shareholder rights plan implemented by the previous management and control group
was, in our view, too restrictive. The Board's action today is evidence of their
confidence in the current management team and the Company's ongoing strategy."

         Enclosed  as  Exhibit 99.1 to this  Current  Report  on  Form  8-K  and
incorporated  herein by reference is the text of the May 17, 1999 press  release
announcing the repeal of the Rights Plan.

ITEM 7   FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS

         (c) Exhibits.

        99.1  Press  Release  dated May 17,  1999  regarding  the  repeal of the
              Company's existing "poison pill" shareholder rights plan.

                                       2
SIGNATURE

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  Registrant  has duly  caused  this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                           EXECUTIVE TELECARD, LTD.

Date:  May 18, 1999                          By:  /s/ Christopher J. Vizas
                                                  ------------------------
                                                     Christopher J. Vizas
                                                      Chief Executive Officer

                                       3
EXHIBIT INDEX

       Exhibit           Description
       -------           -----------

        99.1  Press  Release  dated May 17,  1999  regarding  the  repeal of the
              Company's existing "poison pill" shareholder rights plan.