SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13D
(Rule 13d-101)
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)*
Oriole Homes Corp.
(Name of Issuer)
Class A Common Stock $.10 Par Value Per Share
(Title of Class of Securities)
686264102
(CUSIP Number)
Edward E. Obstler, Esquire, Gordon, Feinblatt, Rothman,
Hoffberger & Hollander, LLC
233 E. Redwood Street, Baltimore, Maryland 21202, (410) 576-4227
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
November 12, 1999
(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.
(Continued on following pages)
(Page 1 of 6 Pages)
* 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).
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CUSIP No. 686264102 13D Page 2 of 6 Pages
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- ------------------------------------------------- --------------------------------------------------
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
U.S.A. Fund Limited Partnership 52-1799734
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e)
|_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Maryland
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7 SOLE VOTING POWER
NUMBER 0
OF
SHARES ------------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED 117,400
BY
EACH ------------------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH ------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
117,400
- -----------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
117,400
- -----------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
- -----------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.29%
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14 TYPE OF REPORTING PERSON*
PN
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CUSIP No. 686264102 13D Page 3 of 6 Pages
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
World Total Return, Inc. 52-1799732
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e)
|_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Maryland
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7 SOLE VOTING POWER
NUMBER 0
OF
SHARES ------------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED 117,400
BY
EACH ------------------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH ------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
117,400
- -----------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
117,400
- -----------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
- -----------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.29%
- -----------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
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SCHEDULE 13D
This Amendment No. 1 amends and supplements the Statement on
Schedule 13D (the "Schedule 13D") previously filed on December 21, 1998 and
incorporated by reference herein, relating to shares of Class A Common Stock
(the "Shares") of Oriole Homes Corp., a Florida corporation (the "Issuer"),
previously filed by U.S.A. Fund Limited Partnership, a Maryland limited
partnership ("USA Fund") and World Total Return, Inc., a Maryland corporation
("WTR"). Capitalized terms used herein and not otherwise defined in this
Amendment No. 1 shall have the meaning set forth in the Schedule 13D.
Item 3. Source and Amount of Funds or Other Consideration.
The total amount of funds required by USA Fund to purchase the
117,400 Shares was approximately $447,241 and was furnished from the working
capital of USA Fund.
Item 4. Purpose of Transaction.
USA Fund acquired the Shares in a series of open market
purchases. As of November 12, 1999 (the date of the event which requires the
filing of this Amendment No. 1 to Schedule 13D), the Reporting Entities
beneficially owned an aggregate of 117,300 Shares. As of November 16, 1999, the
Reporting Entities beneficially owned an aggregate of 117,400 Shares. The
purchase of the Shares by USA Fund were effected for investment purposes only.
The Reporting Entities may acquire additional Shares, or
dispose of some or all of its Shares from time to time, depending on the price
and market conditions, evaluation of alternative investments, and other factors.
Currently, the Reporting Entities intend to review their investment in the
Issuer on a continuing basis, and depending upon the price and availability of
shares of Common Stock, subsequent developments affecting the Issuer, the
Issuer's business and prospects, other investment and business opportunities
available to the Reporting Entities, general stock market and economic
conditions, tax considerations and other factors considered relevant, may decide
at any time not to increase, or to decrease, the size of their investment in the
Issuer.
Neither of the Reporting Entities nor, to the best of their
knowledge, any persons referred to in Item 2 paragraph (a) of the Schedule 13D,
has any plans or proposals which relate to or would result in: (a) the
acquisition by any person of additional securities of the Company, or the
disposition of securities of the Company; (b) an extraordinary corporate
transaction, such as a merger, reorganization or liquidation, involving the
Company or any of its subsidiaries; (c) a sale or transfer of a material amount
of assets of the Company or any of its subsidiaries; (d) any change in the
present Board of Directors or management of the Company, including any plans or
proposals to change the number or term of directors or to fill any existing
vacancies on the board; (e) any material change in the present capitalization or
dividend policy of the Company; (f) any other material change in the Company's
business or corporate structure; (g) changes in the Company's charter, By-Laws
or instruments corresponding thereto or other actions which may impede the
acquisition of control of the Company by any person; (h) causing a class of
securities of the Company to be delisted from a national securities exchange or
to cease to be
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authorized to be quoted in an inter-dealer quotation system of a registered
national securities association; (i) a class of equity securities of the Company
becoming eligible for termination of registration pursuant to Section 12(g)(4)
of the Exchange Act; or (j) any action similar to any of those enumerated above.
Item 5. Interest in Securities of the Issuer.
(a) As of November 12, 1999, USA Fund beneficially owned
117,400 Shares, representing 6.29% of the class of securities covered by this
statement. By reason of its relationship with USA Fund, WTR may be deemed under
Rule 13d-3 of the Exchange Act to own beneficially all of the Shares which USA
Fund beneficially owns. The percentage is computed on the basis of 1,864,149
outstanding shares of Class A Common Stock reported by the Issuer as of
September 30, 1999 in its most recent 10-Q report.
(b) The Reporting Entities together share voting and
dispositive power with respect to all Shares held by USA Fund.
(c) During the sixty-day period ended as of the date hereof,
USA Fund has purchased Shares in open market transactions as follows:
NUMBER OF SHARES PRICE PER SHARE DATE OF TRADE
- ---------------- --------------- -------------
11,900 $1.625 10/12/99
6,500 $1.625 11/12/99
700 $1.625 11/12/99
100 $1.625 11/16/99
(d) Except as set forth in this Item 5, no person other than
each respective record owner referred to herein of Shares is known to have the
right to receive or the power to direct the receipt of dividends from, or the
proceeds from the sale of, such Shares.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect
to Securities of the Issuer
Except as otherwise described herein, there are no contracts,
arrangements, understandings or relationships among the persons named in Item 2
of the Schedule 13D or between such persons and any other person with respect to
any securities of the Issuer.
By virtue of the relationships among the Reporting Entities as
described in Item 2 of the Schedule 13D, the Reporting Entities may be deemed to
be a "group" under the Federal securities laws.
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SIGNATURES
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.
Dated: November 19, 1999 U.S.A. FUND LIMITED PARTNERSHIP
By: World Total Return, Inc.
By: /s/ Marc. P. Blum
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Marc P. Blum, President
Dated: November 19, 1999 WORLD TOTAL RETURN, INC.
By: /s/ Marc P. Blum
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Marc P. Blum, President
C75913b.634
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