SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
Under the Securities Exchange Act of 1934
Amendment No. 10
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Gyrodyne Company of America, Inc.
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(Name of Issuer)
Common Stock, $1.00 par value
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(Title of Class of Securities)
403820103
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(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
Times Square Tower
New York, NY 10036
(212) 832-8300
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
March 20, 2006
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(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
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1NAME OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Kellogg Capital Group, LLC
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2CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) (b)
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3SEC USE ONLY
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4SOURCE OF FUNDS*
N/A
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5CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
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6CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
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7SOLE VOTING POWER
0
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8SHARED VOTING POWER
0
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9SOLE DISPOSITIVE POWER
0
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10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
0
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
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14 TYPE OF REPORTING PERSON*
BD
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CUSIP No. 403820103
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1NAME OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Kellogg Group, LLC
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2CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) (b)
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3SEC USE ONLY
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4SOURCE OF FUNDS*
N/A
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5CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
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6CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
---------------------------------------------------------------------
7SOLE VOTING POWER
0
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8SHARED VOTING POWER
0
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9SOLE DISPOSITIVE POWER
0
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10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
0
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
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14 TYPE OF REPORTING PERSON*
OO
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CUSIP No. 403820103
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1NAME OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Charles K. Kellogg
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2CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) (b)
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3SEC USE ONLY
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4SOURCE OF FUNDS*
N/A
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5CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
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6CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
---------------------------------------------------------------------
7SOLE VOTING POWER
0
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8SHARED VOTING POWER
0
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9SOLE DISPOSITIVE POWER
0
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10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
0
------------ --------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
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14 TYPE OF REPORTING PERSON*
IN
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CUSIP No. 403820103
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1. NAME OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Lee Kellogg
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2CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) (b)
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3SEC USE ONLY
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4SOURCE OF FUNDS*
N/A
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5CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
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6CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
----------------------------------------------------------------------
7SOLE VOTING POWER
0
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8SHARED VOTING POWER
0
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9SOLE DISPOSITIVE POWER
0
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10 SHARED DISPOSITIVE POWER
0
---------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
0
---------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
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14 TYPE OF REPORTING PERSON*
IN
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CUSIP No. 403820103
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1NAME OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Everest Special Situations Fund L.P.
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2CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) (b)
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3SEC USE ONLY
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4SOURCE OF FUNDS*
N/A
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5CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
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6CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
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7SOLE VOTING POWER
0
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8SHARED VOTING POWER
30,524
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9SOLE DISPOSITIVE POWER
0
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10 SHARED DISPOSITIVE POWER
30, 524
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
30,524
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.5%
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14 TYPE OF REPORTING PERSON*
PN
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CUSIP No. 403820103
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1NAME OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Maoz Everest Fund Management Ltd.
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2CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) (b)
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3SEC USE ONLY
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4SOURCE OF FUNDS*
N/A
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5CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
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6CITIZENSHIP OR PLACE OF ORGANIZATION
Israel
--------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
--------------------------------------------------------------------
7SOLE VOTING POWER
0
--------------------------------------------------------------------
8SHARED VOTING POWER
30,524
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9SOLE DISPOSITIVE POWER
0
--------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
30,524
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
30,524
-------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.5%
-------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
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CUSIP No. 403820103
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1NAME OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Elchanan Maoz
----------------------------------------------------------------------
2CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) (b)
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3SEC USE ONLY
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4SOURCE OF FUNDS*
N/A
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5CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
-----------------------------------------------------------------------
6CITIZENSHIP OR PLACE OF ORGANIZATION
Israel
-----------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
-----------------------------------------------------------------------
7SOLE VOTING POWER
0
-----------------------------------------------------------------------
8SHARED VOTING POWER
30,524
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9SOLE DISPOSITIVE POWER
0
---------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
30,524
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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
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Introduction:
This amendment is being made to disclose the sale of Issuer's Common Stock
by Kellogg Capital Group, LLC , Kellogg Group, LLC, Charles K. Kellogg, and
Lee Kellogg (collectively, "Kellogg").
Everest Special Situations Fund, Maoz Everest Fund Management Ltd. and
Elchanan Maoz, (collectively, "Everest") have had no change in their
beneficial ownership.
AMENDMENT NO. 10
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) On March 20, 2006, Kellogg sold 61,772 shares of Issuer's Common
Stock in a block trade for a price of $42.00 per share.
(e) The Reporting Persons no longer beneficially own in excess of five
percent (5%) of the shares in the Issuer and are no longer subject to
reporting under section 13D of the Exchange Act.
Item 7. Material to be filed as Exhibits
None
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: March 21, 2006
EVEREST SPECIAL SITUATIONS FUND L.P. MAOZ EVEREST FUND MANAGEMENT LTD.
By: Maoz Everest
Fund Management Ltd.,
Its general partner By: /s/ ELCHANAN MAOZ
Name: Elchanan Maoz
By: /s/ ELCHANAN MAOZ Title: Chairman and Chief Executive Officer
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