SC 13G 1 sch13g.txt SCH13G.TXT ------------------------------ OMB APPROVAL ------------------------------ OMB Number 3235-0145 Expires: December 31, 2005 Estimated average burden hours per response ........ 11 ------------------------------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No.1)* GOLF TRUST OF AMERICA, INC. -------------------------------------------------------------------------------- (Name of Issuer) COMMON STOCK, PAR VALUE $0.01 PER SHARE -------------------------------------------------------------------------------- (Title of Class of Securities) 38168B103 -------------------------------------------------------------------------------- (CUSIP Number) DECEMBER 31, 2004 -------------------------------------------------------------------------------- (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-1(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). PERSONS WHO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY VALID OMB CONTROL NUMBER. Page 1 of 5 pages CUSIP No. 38168B103 13G Page 2 of 5 Pages ________________________________________________________________________________ 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Dennis J. O'Leary ________________________________________________________________________________ 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [_] (b) [_] ________________________________________________________________________________ 3. SEC Use Only ________________________________________________________________________________ 4. Citizenship or Place of Organization United States ________________________________________________________________________________ 5. Sole Voting Power NUMBER OF 479,400 SHARES _________________________________________________________________ BENEFICIALLY 6. Shared Voting Power OWNED BY EACH _________________________________________________________________ REPORTING 7. Sole Dispositive Power PERSON 479,400 WITH: _________________________________________________________________ 8. Shared Dispositive Power ________________________________________________________________________________ 9. Aggregate Amount Beneficially Owned by Each Reporting Person 479,400 ________________________________________________________________________________ 10. Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [_] ________________________________________________________________________________ 11. Percent of Class Represented by Amount in Row (9) 6.50% ________________________________________________________________________________ 12. Type of Reporting Person (See Instructions) IN ________________________________________________________________________________ CUSIP No. 38168B103 13G Page 3 of 5 Pages Item 1. (a) NAME OF ISSUER GOLF TRUST OF AMERICA, INC. -------------------------------------------------------------------------------- (b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES 14 North Adger's Wharf Charleston, South Carolina 29401 -------------------------------------------------------------------------------- Item 2. (a) NAME OF PERSON FILING Dennis J. O'Leary -------------------------------------------------------------------------------- (b) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE 71 Colfax Road Skillman, New Jersey 08558 -------------------------------------------------------------------------------- (c) CITIZENSHIP United States -------------------------------------------------------------------------------- (d) TITLE OF CLASS OF SECURITIES Common Stock, Par Value $0.01 per share -------------------------------------------------------------------------------- (e) CUSIP NUMBER 38168B103 -------------------------------------------------------------------------------- Item 3. If this statement is filed pursuant to ss.ss.240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: Not applicable -------------------------------------------------------------------------------- CUSIP No. 38168B103 13G Page 4 of 5 Pages 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. (a) Amount beneficially owned: 479,400 (b) Percent of class: 6.50% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote 479,400 (ii) Shared power to vote or to direct the vote 0 (iii) Sole power to dispose or to direct the disposition of 479,400 (iv) Shared power to dispose or to direct the disposition of 0 INSTRUCTION. For computations regarding securities which represent a right to acquire an underlying security see ss.240.13d-3(d)(1). -------------------------------------------------------------------------------- Item 5. Ownership of Five Percent or Less of a Class. ------------------------------------------------------------------------------- Item 6. Ownership of More Than Five Percent On Behalf of Another Person. -------------------------------------------------------------------------------- Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported On by the Parent Holding Company. -------------------------------------------------------------------------------- Item 8. Identification and Classification of Members of the Group. -------------------------------------------------------------------------------- Item 9. Notice of Dissolution of Group. -------------------------------------------------------------------------------- Item 10. Certifications. (a) The following certification shall be included if the statement is filed pursuant to ss.240 13d-1(b): By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and 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. (b) The following certification shall be included if the statement is filed pursuant to ss.240 13d-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. CUSIP No. 38168B103 13G Page 5 of 5 Pages 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. February 9, 2004 ---------------------------------------- Date Dennis J. O'Leary ---------------------------------------- Signature Dennis J. O'Leary ---------------------------------------- Name/Title NOTE. Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See ss.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)