SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(AMENDMENT NO.1)
UNDER THE SECURITIES EXCHANGE ACT OF 1934
EXCAL ENTERPRISES, INC.
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(Name of Issuer)
COMMON STOCK, $.001 PAR VALUE PER SHARE
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(Title of Class of Securities)
300902 10 3
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(CUSIP Number)
Alan I. Waserstein
9509 Harding Avenue
Miami Beach, Florida 33154
(305) 865-9811
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
MAY 1, 1997
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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
statement 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 reporting 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
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>
SCHEDULE 13D
(AMENDMENT NO. 1)
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CUSIP NO. 300902 10 3 PAGE 2 OF 9 PAGES
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Alan I. Waserstein
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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
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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7 SOLE VOTING POWER
NUMBER OF 10,000
SHARES
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH -0-
REPORTING
PERSON 9 SOLE DISPOSITIVE POWER
WITH
10,000
10 SHARED DISPOSITIVE POWER
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,000
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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)*
0.2 %
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14 TYPE OF REPORTING PERSON
IN
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* BASED UPON THE NUMBER OF SHARES OF THE ISSUER'S COMMON STOCK REPORTED TO BE
OUTSTANDING AS OF JANUARY 31, 1997 IN THE ISSUER'S FORM 10-QSB FOR THE QUARTER
ENDED DECEMBER 31, 1996 FILED ON FEBRUARY 15, 1997.
<PAGE>
SCHEDULE 13D
(AMENDMENT NO. 1)
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CUSIP NO. 300902 10 3 PAGE 3 OF 9 PAGES
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Eli Jacob and Anita Jacob
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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
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Israel
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7 SOLE VOTING POWER
NUMBER OF -0-
SHARES
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH -0-
REPORTING
PERSON 9 SOLE DISPOSITIVE POWER
WITH
-0-
10 SHARED DISPOSITIVE POWER
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH 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
IN
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<PAGE>
SCHEDULE 13D
(AMENDMENT NO. 1)
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CUSIP NO. 300902 10 3 PAGE 4 OF 9 PAGES
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Daniel Eny
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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
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Israel
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7 SOLE VOTING POWER
NUMBER OF -0-
SHARES
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH -0-
REPORTING
PERSON 9 SOLE DISPOSITIVE POWER
WITH
-0-
10 SHARED DISPOSITIVE POWER
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH 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
IN
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<PAGE>
AMENDMENTS
ITEM IV. PURPOSE OF TRANSACTION
As stated in the Reporting Persons' initial Schedule 13D, the Reporting
Persons had reserved the right to dispose of Shares at any time and from time to
time in the open market or otherwise. This Amendment reports such a disposition
which has resulted in a material decrease in the percentage of the Shares
beneficially owned. The Reporting Persons decided to sell all their Shares, with
the exception of 10,000 Shares retained by Alan I. Waserstein, on May 1, 1997,
at a price of $2.915 per Share.
ITEM V. INTEREST IN SECURITIES OF THE ISSUER
A. The Reporting Persons previously beneficially owned an aggregate of
282,000 Shares representing approximately 7% of the outstanding Shares (based on
the number of Shares reported to be outstanding in the Issuer's Quarterly Report
on Form 10-QSB for the quarterly period ended December 31, 1996). On May 1,
1997, each of the Reporting Persons sold his or her respective Shares in open
market transactions at a price of $2.915 per Share, with the exception of Alan
I. Waserstein, who sold all but 10,000 of his Shares (at the same price). The
Reporting Persons now have beneficial ownership of the Shares as follows:
APPROXIMATE
NAME NUMBER OF SHARES PERCENTAGE OF CLASS
---- ---------------- -------------------
Alan I. Waserstein 10,000 0.2 %
Eli Jacob and Anita Jacob 0(1) 0
Daniel Eny 0 0
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(1) Shares were previously held jointly by Mr. and Mrs. Jacob.
B. Alan I. Waserstein, the only Reporting Person still
beneficially owning any Shares, has the sole power to vote or to direct the vote
and to dispose or to direct the disposition of the Shares which he beneficially
owns.
C. The following table sets forth all transactions with respect to
the Shares effected during the past 60 days by each of the Reporting Persons
listed in Item 5(a) above. Each transaction set forth below reflects an open
market sale.
ALAN I. WASERSTEIN
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DATE NUMBER OF SHARES PRICE PER SHARE
---- ---------------- ---------------
2/14/97 2,000 $2.731
5/01/97 20,000 $2.915
ELI JACOB AND ANITA JACOB
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DATE NUMBER OF SHARES PRICE PER SHARE
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5/01/97 125,000 $2.915
DANIEL ENY
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DATE NUMBER OF SHARES PRICE PER SHARE
---- ---------------- ---------------
5/01/97 125,000 $2.915
D. To the best of the Reporting Persons' knowledge, except as set
forth herein, no other person has the right to receive or the power to direct
the receipt of dividends from, or the proceeds from the sale of, any Shares
which Reporting Persons may be deemed to beneficially own.
E. The Reporting Persons ceased to be beneficial owners of
more than five percent of the Shares on May 1, 1997.
ITEM VI. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER
The Reporting Persons are parties to a Joint Filing Agreement
attached hereto as Exhibit 1, with respect to filing of this statement and any
amendments thereto.
-5-
<PAGE>
ITEM VII. MATERIAL TO BE FILED AS EXHIBITS
Exhibit 1 - Joint Filing Agreement
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: May 9, 1997 /S/ ALAN I. WASERSTEIN
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Alan I. Waserstein
Dated: May 9, 1997 /S/ ELI JACOB
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Eli Jacob
Dated: May 9, 1997 /S/ ANITA JACOB
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Anita Jacob
Dated: May 9, 1997 /S/ DANIEL ENY
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Daniel Eny
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<PAGE>
JOINT FILING AGREEMENT
(PURSUANT TO RULE 13D-1(F))
The undersigned hereby agree that the statement on Schedule 13D to
which this agreement is attached is, and any amendment thereto will be, filed
with the U.S. Securities and Exchange Commission on behalf of each of the
undersigned. This agreement may be executed in any number of counterparts, each
of which shall be deemed an original but all together shall constitute one and
the same agreement.
Dated: May 9, 1997 /S/ ALAN I. WASERSTEIN
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Alan I. Waserstein
Dated: May 9, 1997 /S/ ELI JACOB
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Eli Jacob
Dated: May 9, 1997 /S/ ANITA JACOB
------------------------------------
Anita Jacob
Dated: May 9, 1997 /S/ DANIEL ENY
------------------------------------
Daniel Eny
