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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchane Act of 1934
(Amendment No. 39)
CANAL CAPITAL CORPORATION
-------------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK, PAR VALUE $0.01 PER SHARE
-------------------------------------------------------------------------------
(Title of Class of Securities)
913014106
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(CUSIP Number)
ASHER B. EDELMAN, 717 FIFTH AVENUE,
NEW YORK, NEW YORK 10022
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
SEPTEMBER 15, 2000
--------------------------------------------------------------------------------
(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 that 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
[_]
Check the following box if a fee is being paid with this statement [_]. (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
NOTE: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(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
the 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).
<PAGE>
CUSIP No. 913014106 Schedule 13D Page 2 of 13 Pages
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1 NAME OF REPORTING PERSONS
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Asher B. Edelman
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [_]
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3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
NA
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [x]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION United States
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 51,400 (including option on 20,000 shares)
SHARES _________________________________________________________________
8 SHARED VOTING POWER
BENEFICIALLY
457,580
OWNED BY
-----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 51,400 (including options on 20,000 shares)
PERSON _________________________________________________________________
10 SHARED DISPOSITIVE POWER
WITH
457,580
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
508,980 (including options on 20,000 shares)
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
See Item 5
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.7%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
CUSIP No. 913014106 Schedule 13D Page 3 of 13 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Regina M. Edelman
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
NA
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION Brazil
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 140,050
SHARES _________________________________________________________________
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY
-----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 140,050
PERSON _________________________________________________________________
10 SHARED DISPOSITIVE POWER
WITH
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
140,050
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
CUSIP No. 913014106 Schedule 13D Page 4 of 13 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
A.B.Edelman Limited Partnership
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
NA
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
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7 SOLE VOTING POWER
NUMBER OF 1,017,120
SHARES _________________________________________________________________
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY
-----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 1,017,120
PERSON _________________________________________________________________
10 SHARED DISPOSITIVE POWER
WITH
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,017,120
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
23.5%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
CUSIP No. 913014106 Schedule 13D Page 5 of 13 Pages
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1 NAME OF REPORTING PERSONS
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Felicitas Partners, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
NA
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
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7 SOLE VOTING POWER
NUMBER OF 3,399
SHARES _________________________________________________________________
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY
-----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 3,399
PERSON _________________________________________________________________
10 SHARED DISPOSITIVE POWER
WITH
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,399
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Less than 0.1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
CUSIP No. 913014106 Schedule 13D Page 6 of 13 Pages
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1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Aile Blanche, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [_]
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3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
NA
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
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7 SOLE VOTING POWER
NUMBER OF 8,400
SHARES _________________________________________________________________
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY
-----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 8,400
PERSON _________________________________________________________________
10 SHARED DISPOSITIVE POWER
WITH
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,400
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
CUSIP No. 913014106 Schedule 13D Page 7 of 13 Pages
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1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Canal Capital Corporation Retirement Plan
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
NA
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION New York
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7 SOLE VOTING POWER
NUMBER OF 26,620
SHARES _________________________________________________________________
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY
-----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 26,620
PERSON _________________________________________________________________
10 SHARED DISPOSITIVE POWER
WITH
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
26,620
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
EP
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
CUSIP No. 913014106 Schedule 13D Page 8 of 13 Pages
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1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Edelman Value Fund Ltd.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION British Virgin Islands
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES _________________________________________________________________
8 SHARED VOTING POWER
BENEFICIALLY
413,750
OWNED BY
-----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON _________________________________________________________________
10 SHARED DISPOSITIVE POWER
WITH
413,750
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
413,750
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.5%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
CUSIP No. 913014106 Schedule 13D Page 9 of 13 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Edelman Value Partners L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES _________________________________________________________________
8 SHARED VOTING POWER
BENEFICIALLY
43,830
OWNED BY
-----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON _________________________________________________________________
10 SHARED DISPOSITIVE POWER
WITH
43,830
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
43,830
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
CUSIP No. 913014106
Items 2, 3, 5 and 7 of the Schedule 13D, datad June 1, 1984, relating to
the Common Stock, par value $0.01 per share, of Canal Capital Corporation, as
amended, (the "Schedule 13D"), are hereby amended by adding thereto the
information set forth below. The terms defined in the Schedule 13D shall have
their defined meanings herein, unless otherwise defined herein.
--------------------------------------------------------------------------------
Item 2. Identity and Background.
Item 2 is hereby suplemented by the addition of the following:
(a) This statement is also filed on behalf of Edelman Value Partners, L.P.,
a limited paratnership governed by laws of the State of Delaware (the "Value
Partners"), with respect to ownership by the Value Partners of shares of Common
Stock. The general partner of Value Partners is A.B. Edelman Management Company,
Inc., of which Mr. Asher B. Edelman is sole stockholder and an officer and
director.
(b) The principal business address of Value Partners is 717 Fifth Avenue,
New York, New York 10022.
(c) The principal business of Value Partners is an investment partnership.
(d) Value Partners has not, during the past five years, been convicted in a
criminal proceeding.
(e) Value Partners has not, during the past five years, been a party to a
civil proceeding of a judicial or administrative body of competent jurisdiction
and as a result of such proceeding was or is subject to a judgement, decree or
final order enjoining future violations of, or prohibiting or mandating
activities subject to federal or state securities laws or finding any violation
with respect to such laws, convicted in a criminal proceeding.
(f) Value Partners is organized under the State of Delaware.
--------------------------------------------------------------------------------
Item 3. Source and Amount of Funds or Other Consideration
Item 3 is hereby supplemented by the addition of the following:
The 28,500 shares of the Common Stock purchased by Edelman Value Fund Ltd.
(the "Fund") since the date of the last preceding Amendment to this Schedule
13D, at an aggregate cost of approximately $4,930 (including commissions), were
purchased with the Fund's working capital.
The 23,830 shares purchased by Value Partners at an aggregate cost of
$5,212.35 (including commissions) were purchased with the Value Partner's
working capital.
--------------------------------------------------------------------------------
Item 5. Interest in Securities of the Issuer
Item 5(a) is hereby supplemented by the addition of the following:
(a) The aggregate percentage of shares of Common Stock reported owned by
each person herein is based upon 4,326,929 shares outstanding, which is the
number of shares outstanding at July 15,
<PAGE>
CUSIP No. 913014106
2000, as reported in the Company's Form 10-Q for the fiscal quarter ended April
30, 2000 as filed with the Securities and Exchange Commission.
As of the date hereof:
(i) Edelman Limited Partnership owns 1,017,120 shares of the Common Stock,
constituting approximately 23.5% of the shares outstanding.
(ii) Mr. Edelman owns directly 31,400 shares of the Common Stock and holds
exercisable options on 20,000 shares of the Common Stock, totaling 51,400 shares
of the Common Stock. Such shares constitute approximately 1.2% of the shares
outstanding (based upon the 4,346,929 shares which would be outstanding upon the
exercise of such options). By reason of the provisions of Rule 13d-3, Mr.
Edelman may be deemed to own beneficially the shares owned by the Fund, Edelman
Limited Partnership, Value Partners, The Canal Capital Retirement Plan, The
Edelman Family Partnership, L.P., Aile Blanche, Regina M. Edelman, Felicitas and
the Custodian Accounts, which, when aggregated with the shares owned by Mr.
Edelman, total 2,483,405 shares (including options on 20,000 shares),
constituting approximately 57.1% of the shares outstanding (based upon the
4,346,929 shares which would be outstanding upon the exercise of such options).
(iii) Regina M. Edelman owns 140,050 shares of the Common Stock,
constituting approximately 3.2% of the shares outstanding.
(iv) Aile Blanche owns 8,400 shares of the Common Stock, constituting
approximately 0.2% of the shares outstanding.
(v) Felicitas owns 3,399 shares of the Common Stock, constituting less than
0.1% of the shares outstanding.
(vi) The Retirement Plan owns 26,620 shares of the Common Stock,
constituting approximately 0.6% of the shares outstanding.
(vii) The Fund owns 413,750 shares of the Common Stock, constituting
approximately 9.5% of the shares outstanding.
(viii) Value Partners own 43,830 shares of the Common Stock, constituting
approximately 1.0% of the shares outstanding.
(ix) The Custodian Accounts own 188,650 shares of the Common Stock,
constituting approximately 4.4% of the shares outstanding.
(x) The Edelman Family Partnership, L.P. owns 590,186 shares of Common
Stock, constituting 13.6% of the shares outstanding.
(xi) Certain other persons related to or affiliated with Mr. Edelman own
the following amounts of Common Stock: (A) Penelope C. Edelman owns 39,865
shares of Common Stock, constituting approximately 0.9% of the shares
outstanding; (B) three UGMA Accounts for the benefit of children of Mr. Edelman,
of which Penelope C. Edelman is custodian, own a total of 30,510 shares of
Common Stock, constituting approximately 0.7% of the shares outstanding; and (C)
Mildred Ash owns
<PAGE>
CUSIP No. 913014106
234,500 shares of Common Stock, constituting approximately 5.4% of the shares
outstanding. Mr. Edelman expressly disclaims beneficial ownership of the
foregoing shares of Common Stock.
(x) To the best knowledge of the reporting persons, certain directors and
officers of the reporting persons and other affiliated persons own the following
amounts of Common Stock (based upon information reported by the Company or such
individuals in public filings): (A) Irving Garfinkel, an officer of Edelman
Management and Aile Blanche, a director of Datapoint, and a general partner of
the Edelman Family Partnership, L.P., owns 11,210 shares of Common Stock,
constituting approximately 0.2% of the shares outstanding; and (B) Gerald N.
Agranoff, an officer of Edelman Management and a general partner of the Edelman
Family Partnership, L.P., holds exercisable options on 25,000 shares of Common
Stock, which constitute approximately 0.6% of the shares outstanding (based upon
the 4,351,929 shares which would be outstanding upon the exercise of such
options).
Item 5(b) is hereby supplemented by the addition of the following:
(a) Value Partners has shared power to vote and dispose of the shares owned
by it. The power to vote and dispose of such shares is exercisable by A.B.
Edelman Management Company, Inc., a corporation controlled by Mr. Edelman and of
which Mr. Edelman is sole stockholder and an officer and director.
Item 5(c) is hereby supplemented by the addition of the following:
(a) On December 30, 1998, the Fund purchased 20,000 shares of Common Stock
through a broker for a price of $0.16 per share. On February 19, 1999, the Fund
purchased 1,000 shares of Common Stock through a broker for a price of $0.26 per
share. On March 31, 1999, the Fund purchased 500 shares of Common Stock through
a broker for a price of $0.19 per share. On July 7, 1999, the Fund purchased
5,000 shares of Common Stock through a broker for a price of $0.16 per share. On
January 31, 2000, the Fund purchased 1,000 shares of Common Stock through a
broker for a price of $0.16 per share. On August 15, 2000, the Fund purchased
1,000 shares of Common Stock through a broker for a price of $0.30 per share.
(b) On December 31, 1998, Value Partners purchased 15,000 shares of Common
Stock through a broker for a price of $0.2167 per share. On February 22, 1999,
Value Partners purchased 1,000 shares of Common Stock through a broker for a
price of $0.26 per share. On March 2, 1999, Value Partners purchased 500 shares
of Common Stock through a broker for a price of $0.26 per share. On May 28,
1999, Value Partners purchased 1,000 shares of Common Stock through a broker for
a price of $0.17 per share. On July 16, 1999, Value Partners purchased 330
shares of Common Stock through a broker for a price of $0.16 per share. On
August 31, 1999, Value Partners purchased 1,000 shares of Common Stock through a
broker for a price of $0.17 per share. On August 30, 2000, Value Partners
purchased 5,000 shares of Common Stock through a broker for a price of $0.21875
per share.
--------------------------------------------------------------------------------
Item 7. Material to be Filed as Exhibits.
Exhibit I - Agreement pursuant to Rule 13d-1(f)(1)(iii), filed herewith.
<PAGE>
CUSIP No. 913014106
SIGNATURE
After reasonable inquiry and to the best of their knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: September 15, 2000
/S/ ASHER B. EDELMAN
------------------------------------------------------------
Asher B. Edelman, individually, as a general partner of A.
B. Edelman Limited Partnership and as attorney-in-fact for
each of Canal Capital Corporation Retirement Plan, Felicitas
Partners, L.P., Edelman Value Partners L.P., Edelman Value
Fund Ltd., Regina M. Edelman, and Aile Blanche, Inc., under
Powers of Attorney previously filed with the Securities and
Exchange Commission as Exhibits to this Schedule 13D and
amendments thereto.
Page 13 of 14
<PAGE>
CUSIP No. 913014106
EXHIBIT I
Pursuant to Rule 13d-1(f)(1)(iii) of Regulation 13D-G of the General Rules
and Regulations of the Securities and Exchange Commission under the Securities
Exchange Act of 1934, as amended, the undersigned agrees that the statement to
which this Exhibit is attached is filed on behalf of it in the capacity set
forth below.
/S/ ASHER B. EDELMAN
------------------------------------------------------------
Asher B. Edelman, individually, as a general partner of A.
B. Edelman Limited Partnership and Edelman Value Partners
L.P. and as attorney-in-fact for each of Canal Capital
Corporation Retirement Plan, Felicitas Partners, L.P.,
Regina M. Edelman, Aile Blanche, Inc. and Edelman Value Fund
Ltd. under Powers of Attorney previously filed with the
Securities and Exchange Commission as Exhibits to this
Schedule 13D and amendments thereto.
Page 14 of 14
