-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, AUq5W3IhqlfEWaGv2oApaUw/Sq6afjzW5RVGAevcWyf7zwG9PdNLr+NtBsthMtWg UGZUuDPoV8jRmu1l3dRzqg== 0000932799-05-000191.txt : 20050616 0000932799-05-000191.hdr.sgml : 20050615 20050616153440 ACCESSION NUMBER: 0000932799-05-000191 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20050616 DATE AS OF CHANGE: 20050616 GROUP MEMBERS: CHARLES K. KELLOGG GROUP MEMBERS: ELCHANAN MAOZ GROUP MEMBERS: EVEREST SPECIAL SITUATIONS FUND LP GROUP MEMBERS: KELLOGG CAPITAL GROUP, LLC GROUP MEMBERS: KELLOGG GROUP, LLC GROUP MEMBERS: LEE KELLOGG GROUP MEMBERS: MAOZ EVEREST FUND MANAGEMENT LTD. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: GYRODYNE CO OF AMERICA INC CENTRAL INDEX KEY: 0000044689 STANDARD INDUSTRIAL CLASSIFICATION: OPERATORS OF NONRESIDENTIAL BUILDINGS [6512] IRS NUMBER: 111688021 STATE OF INCORPORATION: NY FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-33650 FILM NUMBER: 05900228 BUSINESS ADDRESS: STREET 1: 102 FLOWERFIELD ST CITY: ST JAMES STATE: NY ZIP: 11780 BUSINESS PHONE: 6315845400 MAIL ADDRESS: STREET 2: 17 FLOWERFIELD SUITE 15 CITY: ST JAMES STATE: NY ZIP: 11780 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: KELLOGG CAPITAL GROUP LLC CENTRAL INDEX KEY: 0001166428 IRS NUMBER: 134067067 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 14 WALL ST STREET 2: 27TH FL CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: 2124335458 MAIL ADDRESS: STREET 1: 14 WALL ST STREET 2: 27TH FL CITY: NEW YORK STATE: NY ZIP: 10005 FORMER COMPANY: FORMER CONFORMED NAME: PERFORMANCE CAPITAL GROUP LLC DATE OF NAME CHANGE: 20030709 FORMER COMPANY: FORMER CONFORMED NAME: PERFORMANCE SPECIALIST GROUP LLC DATE OF NAME CHANGE: 20020201 SC 13D/A 1 gyro13djne14.txt AMENDMENT 7 TO SCHEDULE 13D SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D (Rule 13d-101) Under the Securities Exchange Act of 1934 Amendment No. 7 -------- Gyrodyne Company of America, Inc. ------------------------------------------------------------------------------- (Name of Issuer) Common Stock, $1.00 par value ------------------------------------------------------------------------------- (Title of Class of Securities) 403820103 ------------------------------------------------------------------------------- (CUSIP Number) Elchanan Maoz Platinum House 21 Ha'arba'a Street Tel Aviv, 64739 Israel Tel: 972-3-6858555 Fax: 972-3-6858557 Guy N. Molinari, Esq. Heller Ehrman LLP 7 Times Square Time Square Tower New York, NY 10036 (212) 832-8300 ------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) June 14, 2005 ------------------------------------------------------------------------------- (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(e), 13d-1(f) or 13d-1(g), check the following box. Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) 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. 403820103 Page 2 of 11 - --------------------------------------------------------------- 1 NAME OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Kellogg Capital Group, LLC - --------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)x (b) - --------------------------------------------------------------- 3 SEC USE ONLY - --------------------------------------------------------------- 4 SOURCE OF FUNDS* N/A - ---------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) - ---------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION New York - ---------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH - ---------------------------------------------------------------- 7 SOLE VOTING POWER 0 - ---------------------------------------------------------------- 8 SHARED VOTING POWER 61,772 - ---------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 - ---------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 61,772 - --------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON 61,772 - --------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - --------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.1% - --------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* BD - --------------------------------------------------------------- CUSIP No. 403820103 Page 3 of 11 - --------------------------------------------------------------- 1 NAME OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Kellogg Group, LLC - --------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) x (b) - --------------------------------------------------------------- 3 SEC USE ONLY - --------------------------------------------------------------- 4 SOURCE OF FUNDS* N/A - ---------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) - ---------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION New York - ---------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH - ---------------------------------------------------------------- 7 SOLE VOTING POWER 0 - ---------------------------------------------------------------- 8 SHARED VOTING POWER 61,772 - ---------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 - ---------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 61,772 - --------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON 61,772 - --------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - --------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.1% - --------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* OO - --------------------------------------------------------------- CUSIP No. 403820103 Page 4 of 11 - --------------------------------------------------------------- 1 NAME OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Charles K. Kellogg - -------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) x (b) - --------------------------------------------------------------- 3 SEC USE ONLY - --------------------------------------------------------------- 4 SOURCE OF FUNDS* N/A - ---------------------------------------------------------------- 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 BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH - ---------------------------------------------------------------- 7 SOLE VOTING POWER 0 - ---------------------------------------------------------------- 8 SHARED VOTING POWER 61,772 - ---------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 - ---------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 61,772 - --------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON 61,772 - -------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - --------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.1% - --------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - --------------------------------------------------------------- CUSIP No. 403820103 Page 5 of 11 - --------------------------------------------------------------- 1. NAME OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Lee Kellogg - --------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) x (b) - --------------------------------------------------------------- 3 SEC USE ONLY - --------------------------------------------------------------- 4 SOURCE OF FUNDS* N/A - ---------------------------------------------------------------- 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 BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH - ---------------------------------------------------------------- 7 SOLE VOTING POWER 0 - ---------------------------------------------------------------- 8 SHARED VOTING POWER 61,772 - ---------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 - ---------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 61,772 - --------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON 61,772 - --------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - --------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.1% - --------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - --------------------------------------------------------------- CUSIP No. 403820103 Page 6 of 11 - --------------------------------------------------------------- 1 NAME OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Everest Special Situations Fund L.P. - --------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) x (b) - --------------------------------------------------------------- 3 SEC USE ONLY - --------------------------------------------------------------- 4 SOURCE OF FUNDS* N/A - ---------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) - ---------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ---------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH - ---------------------------------------------------------------- 7 SOLE VOTING POWER 0 - ---------------------------------------------------------------- 8 SHARED VOTING POWER 30,524 - ---------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 - ---------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 30, 524 - --------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON 30,524 - --------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - --------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.5% - --------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - --------------------------------------------------------------- CUSIP No. 403820103 Page 7 of 11 - --------------------------------------------------------------- 1 NAME OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Maoz Everest Fund Management Ltd. - --------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) x (b) - --------------------------------------------------------------- 3 SEC USE ONLY - --------------------------------------------------------------- 4 SOURCE OF FUNDS* N/A - ---------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) - ---------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Israel - ---------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH - ---------------------------------------------------------------- 7 SOLE VOTING POWER 0 - ---------------------------------------------------------------- 8 SHARED VOTING POWER 30,524 - ---------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 - ---------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 30,524 - --------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON 30,524 - --------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - --------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.5% - --------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - --------------------------------------------------------------- CUSIP No. 403820103 Page 8 of 11 - --------------------------------------------------------------- 1 NAME OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Elchanan Maoz - --------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) x (b) - --------------------------------------------------------------- 3 SEC USE ONLY - --------------------------------------------------------------- 4 SOURCE OF FUNDS* N/A - ---------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) - ---------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Israel - ---------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH - ---------------------------------------------------------------- 7 SOLE VOTING POWER 0 - ---------------------------------------------------------------- 8 SHARED VOTING POWER 30,524 - ---------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 - ---------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 30,524 - --------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON 30,524 - --------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - --------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.5% - --------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - --------------------------------------------------------------- CUSIP No. 403820103 Page 9 of 11 Introduction: This amendment is being made to disclose correspondence with the Issuer dated June 14, 2005 pursuant to which Everest Special Situations Fund L.P submitted a proposal under Rule 14a-8 of the Securities Exchange Act of 1934, as amended, for inclusion in management's proxy statement for the next annual meeting (the "Proposal"). The Proposal is attached hereto as Exhibit A and filed under Item 7 of this Schedule 13D. This amendment is being made to report the submission of the proposal to the issue and does not constitute the solicitation of any shareholder vote. This amendment no. 7 reflects no changes in the previously reported holdings of the Reporting Persons. AMENDMENT NO. 7 TO THE SCHEDULE 13D Item 1. Security and Issuer (a) Class of Securities: Common Stock, par value $1.00 ("Common Stock") (b) Issuer: Gyrodyne Company of America, Inc. 102 Flowerfield St. James, New York 11780 Item 5. Interest in Securities of the Issuer (c) From the date of the last amendment to Schedule 13D filed May 23, 2005, there have been no changes in the holdings of the Reporting Persons. (d) To the best of each of the Reporting Persons' knowledge, except as set forth herein, no other person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, any shares of common stock which the Reporting Persons may be deemed to own beneficially. (e) Not applicable. Item 7. Material to be filed as Exhibits Exhibit A: Letter from the Everest Special Situations Fund L.P. to the Issuer dated June 14, 2005. CUSIP No. 403820103 Page 10 of 11 After reasonable inquiry and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and correct. Dated: June 16, 2005 EVEREST SPECIAL SITUATIONS FUND L.P. By: Maoz Everest Fund Management Ltd., Its general partner By: /s/ ELCHANAN MAOZ Name: Elchanan Maoz Title: Chairman and Chief Executive Officer MAOZ EVEREST FUND MANAGEMENT LTD. By: /s/ ELCHANAN MAOZ Name: Elchanan Maoz Title: Chairman and Chief Executive Officer /s/ ELCHANAN MAOZ Elchanan Maoz KELLOGG CAPITAL GROUP, LLC By: /s/ MATTHEW BRAND Name: Matthew Brand Title: Managing Director KELLOGG GROUP, LLC By: /s/ MATTHEW BRAND Name: Matthew Brand Title: Managing Director /s/ CHARLES K. KELLOGG Charles K. Kellogg /s/ LEE KELLOGG Lee Kellogg CUSIP No. 403820103 Page 11 of 11 EXHIBIT A June 14, 2005 Mr. Peter Pitsiokos Chief Operating Officer and Secretary Gyrodyne Company of America, Inc. 102 Flowerfield St. James, NY 11780 Dear Mr. Pitsiokos: As demonstrated by our report on Schedule 13D, as amended (a copy of which is attached and which has previously been provided to you), we have beneficially owned shares of Gyrodyne Company of America, Inc. ("Gyrodyne") valued at more than $2,000 continuously for more than one year and we intend to continue our ownership through the date of Gyrodyne's next annual meeting. We are hereby submitting the following proposal and supporting statement pursuant to Rule 14a-8 of the Securities Exchange Act of 1934 for inclusion in management's proxy statement for the next annual meeting of stockholders. Please contact us if you would like to discuss this proposal. RESOLVED: That the Gyrodyne By-Laws relating to Meeting of Stockholders be amended to provide that special meetings of the stockholders of Gyrodyne may be called at any time by the President, Chairman of the Board, the Board of Directors or at the request of the holders of not less than fifteen percent (15%) of all the shares entitled to vote at any such meeting. Supporting Statement At present, the By-laws of Gyrodyne provide (in Section 203) that a special meeting of shareholders may be called only by the Company's President, the Chairman of the Board or the Board of Directors. We believe it would be appropriate and consistent with sound corporate governance to provide that the stockholders of Gyrodyne also have the means to call special meetings of the stockholders, to provide a mechanism for the prompt consideration of matters relating to Gyrodyne and appropriate for stockholders' consideration or action. If you believe the By-laws of Gyrodyne should be amended so as to provide stockholders the ability to call a special meeting of the stockholders, please vote FOR this proposal. Very truly yours, EVEREST SPECIAL SITUATIONS FUND L.P. By: /s/ ELCHANAN MAOZ Name: Elchanan "Nani" Maoz Title: Chairman and Chief Executive Officer Tel: 972-3-6858555 Fax: 972-3-6858557 -----END PRIVACY-ENHANCED MESSAGE-----