UNITED STATES SECURITIES AND EXCHANGE
COMMISSION
WASHINGTON, DC 20549
ANNUAL STATEMENT OF CHANGES BENEFICIAL
OWNERSHIP
OMB APPROVAL
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Form 5 OMB Number: 3235-0287
-------------- Expires: December 31,2001
Estimated average burden
[ ] Check box if no longer subject to hours per response...0.5
Section 16. Form 4 or Form 5 --------------------------
obligations may continue.
See Instruction 1(b).
[X] Form 3 Holdings Reported
[X] Form 4 Transactions Reported
Filed pursuant to Section 16(a) of the Securities Exchange Act
of 1934, Section 17(a) of the Public Utility Holding Company Act
of 1935 or Section 30(f) of the Investment Company Act of 1940
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1.Name and Address of Reporting Person*
BACHANA YITZHAK N
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(Last) (First) (Middle)
361 WOODMERE BLVD.
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(Street)
WOODMERE NY 11598
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(City) (State)(Zip)
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2.Issuer Name and Tickler or Trading Symbol
MEGADATA CORPORATION (MDTA)
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3.I.R.S. Identification Number of Reporting Person, if an entity (Voluntary)
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4.Statement for Month/Year
OCTOBER 31, 2000
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5.If Amendment, Date of Original (Month/Year)
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6.Relationship of Reporting Person(s) to Issuer (Check all applicable)
_X_Director ___10% Owner
___Officer(give title below) ___Other(specify below)
_____________________
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7.Individual or Joint/Group Reporting (check applicable line)
_X_Form Filed by One Reporting Person
___Form Filed by More than One Reporting Person
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TABLE I -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF,
OR BENEFICIALLY OWNED
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1.Title of Security
(Instr. 3)
COMMON STOCK
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2.Transaction Date (Month/ Day/ Year)
9/13/00
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3.Transaction Code
(Instr. 8)
S4
3
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4.Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
Amount (A) or (D) Price
150,000 D $1.25
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5.Amount of Securities Beneficially Owned at the end of Issuer's Fiscal Year
(Instr. 3 and 4)
329,400(1)
10,000
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6.Owner-ship Form: Direct (D) or Indirect (I)
(Instr. 4)
I
D
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7.Nature of Indirect Beneficial Ownership
(Instr. 4)
BY DATA PROBE, INC.
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* If the form is filed by more than one reporting person, see instruction
4(b)(v).
<PAGE>
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TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS CALLS WARRANTS OPTIONS, CONVERTIBLE SECURITIES)
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1.Title of Derivative Security
(Instr. 3)
STOCK OPTION
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2.Conversion or Exercise Price of Derivative Security
$0.15
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3.Transaction Date (Month/ Day/ Year)
7/14/99
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4.Transaction Code
(Instr. 8)
A5
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5.Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
(A) (D)
15,000
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6.Date Exercisable and Expiration Date (Month/Day/Year)
Date Exercisable Expiration Date
(2) 7/14/09
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7.Title and Amount of Underlying Securities
(Instr. 3 and 4)
Title Amount or Number of Shares
COMMON STOCK 15,000
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8.Price of Derivative Security
(Instr. 5)
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9.Number of Derivative Securities Beneficially Owned at End of Year
(Instr. 4)
15,000
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10.Ownership of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
D
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11.Nature of Indirect Beneficial Ownership
(Instr. 4)
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Explanation of Responses:
(1) The Reporting Person disclaims beneficial ownership of these securities,
and this report shall not be deemed an admission that the reporting person
is the beneficial owner of such securities for purposes of Section 16 or
for any other purpose.
(2) The option vests in three equal installments beginning 1 year from grant
date.
____________________________________ ____________________________________
**Signature of Reporting Person Date
**Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.