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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
EXCAL ENTERPRISES, INC.
-----------------------
(Name of Issuer)
$.001 Par Value Common Stock
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(Title of Class of Securities)
300902103
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(CUSIP Number)
George J. D'Angelo
14502 N. Dale Mabry, Suite 305, Tampa, Florida 33602; (813) 969-0854
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
January 28, 1997
----------------
(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(b)(3) or (4), check the following box .
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 in 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).
[Continued on following page(s)]
Page 1 of 9 Pages
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CUSIP No. 300902103 SCHEDULE 13D Page 2 of 9 Pages
--------------------- -------- --------
(1) Names of Reporting Persons George J. D'Angelo
S.S. or I.R.S. Identification Nos. of Above Persons
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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*
PF&OO
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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 224,800*
Shares --------------------------------------------------------
Beneficially (8) Shared Voting Power
Owned by -0-
Each --------------------------------------------------------
Reporting (9) Sole Dispositive Power
Person With 224,800*
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(10) Shared Dispositive Power
-0-
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
224,800*
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(12) Check Box if Aggregate Amount in Row (11) Excludes Certain
Shares* [ ]
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(13) Percent of Class Represented by Amount in Row (11)
5.58%
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(14) Type of Reporting Person*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
* Mr. D'Angelo is the record owner of 162,300 shares and beneficial owner of
the remaining 62,500 shares as president of D'Angelo Capital Corp., the general
partner of GJD Partners L.P., the record owner of the shares.
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
Page 2 of 9 Pages
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CUSIP No. 300902103 SCHEDULE 13D Page 3 of 9 Pages
--------------------- -------- --------
(1) Names of Reporting Persons D'Angelo Capital Corp.
S.S. or I.R.S. Identification Nos. of Above Persons
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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*
OO
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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
Delaware, U.S.A.
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(7) Sole Voting Power
Number of 62,500*
Shares --------------------------------------------------------
Beneficially (8) Shared Voting Power
Owned by -0-
Each --------------------------------------------------------
Reporting (9) Sole Dispositive Power
Person With 62,500*
--------------------------------------------------------
(10) Shared Dispositive Power
-0-
--------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
62,500*
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(12) Check Box if Aggregate Amount in Row (11) Excludes Certain
Shares* [ ]
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(13) Percent of Class Represented by Amount in Row (11)
1.55%
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(14) Type of Reporting Person*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
* D'Angelo Capital Corp. is reporting this beneficial ownership as the
managing general partner of GJD Partners, L.P., the record owner of the shares.
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
Page 3 of 9 Pages
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CUSIP No. 300902103 SCHEDULE 13D Page 4 of 9 Pages
--------------------- -------- --------
(1) Names of Reporting Persons GJD Partners, L.P.
S.S. or I.R.S. Identification Nos. of Above Persons
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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 ITEMS 2(d) OR 2(e)
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(6) Citizenship or Place of Organization
Delaware, U.S.A.
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(7) Sole Voting Power
Number of 62,500
Shares --------------------------------------------------------
Beneficially (8) Shared Voting Power
Owned by -0-
Each --------------------------------------------------------
Reporting (9) Sole Dispositive Power
Person With 62,500
--------------------------------------------------------
(10) Shared Dispositive Power
-0-
--------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
62,500
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(12) Check Box if Aggregate Amount in Row (11) Excludes Certain
Shares* [ ]
---------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
1.55%
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(14) Type of Reporting Person*
PN
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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 4 of 9 Pages
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Item 1 Security and Issuer
Title of Securities: Common Stock, par value $.001 per share
(the "Stock") of Excal Enterprises,
Inc. (the "Issuer")
Name and Address of Issuer: Excal Enterprises, Inc.
100 North Tampa Street, Suite 3575
Tampa, Florida 33602
Item 2 Identity and Background
Item 2(a) This Statement is being filed by and on behalf of
George J. D'Angelo ("D'Angelo"), D'Angelo Capital
Corp ("DCC") and GJD Partners, L.P. ("GJD")(each may
also be referred to as the "Reporting Person"). DCC
is the general partner of GJD. D'Angelo is the only
officer, the sole shareholder, and a director of
DCC. There is one additional director of DCC;
George J. D'Angelo, M.D. ("D'Angelo MD").
Item 2(b) The business address for D'Angelo is:
14502 N. Dale Mabry, Suite 305
Tampa, FL 33618
The business address for DCC and GJD is:
850 Third Avenue
New York, NY 10022
The business address for D'Angelo MD is:
104 E. 2nd Street
Erie, PA 16507
Item 2(c) The principal occupation of each Reporting
Person and of each director of DCC is as follows:
D'Angelo President of D'Angelo Capital Corp.
850 Third Avenue
New York, NY 10022
DCC Managing General Partner of
GJD Partners, L.P.
850 Third Avenue
New York, NY 10022
GJD Investing in Securities
850 Third Avenue
New York, NY 10022
D'Angelo MD Physician
104 E. 2nd Street
Erie, PA 16507
Item 2(d) Criminal Proceedings: During the last five years,
none of the persons or entities identified in
Item 2(a) above has been convicted in a criminal
proceeding (excluding traffic violations or similar
misdemeanors) or has been a party to a civil
proceeding of a judicial or administrative body of
competent jurisdiction and as a result of such
Page 5 of 9 Pages
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proceeding was or is subject to a judgment, 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.
Item 2(e) Civil Proceedings: See Item 2(d)
Item 2(f) Each natural person listed in Item 2(a) above is
a United States citizen; GJD is a Delaware Limited
Partnership; and DCC is a Delaware corporation
Item 3 Source and Amount of Funds or other Consideration
D'Angelo purchased Stock with personal funds and received 143,400
shares of Stock from a distribution from Quest Partners, L.P., a Delaware
Limited Partnership.
GJD purchased the Stock it holds out of its working capital. The total
purchase price of all shares of Stock GJD holds is $128,750.
Item 4 Purpose of Transaction
D'Angelo has acquired Stock of the Issuer because he believes that such
Shares are substantially undervalued. D'Angelo will evaluate his investment in
the Issuer on an ongoing basis and will take whatever action he concludes is in
his best interest including buying additional shares or selling shares without
any further prior disclosure.
GJD has acquired Stock of the Issuer for capital appreciation. GJD will
evaluate its investment in the Issuer on an ongoing basis and will take whatever
action it concludes is in its best interest including buying additional shares
or selling shares without any further prior disclosure.
Item 5 Interest in Securities of the Issuer
Item 5(a) As of the close of business on January 29, 1997,
the outstanding shares of Stock and percentage of the
Issuer (based upon the number of shares reported as
being outstanding in the Issuer's Form 10-Q/SB for
the quarter ended September 30, 1996) held of record
by each Reporting Person is as follows:
<TABLE>
<CAPTION>
Approximate Percentage of
Holder No. of Shares Outstanding Shares
------ ------------- -------------------------
<S> <C> <C>
D'Angelo 162,300 4.03
1.55
----
GJD 62,500(1) 5.58% (total)
</TABLE>
(1) D'Angelo and DCC are deemed beneficial owner of
these shares
Item 5(b) D'Angelo has sole power to vote and to dispose
of all of the shares of Stock reported herein;
162,300 that he owns of record and 62,500 that he
owns beneficially as the principal officer of DCC,
the managing general partner of the record owner,
GJD.
Page 6 of 9 Pages
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Item 5(c) The following table sets forth all transactions
with respect to the Issuer's Stock effected during
the past sixty days by any Reporting Person. Each
transaction set forth below reflects a purchase (P)
or a sale (S) effected by means of an
over-the-counter trade.
<TABLE>
<CAPTION>
Reporting Person Trade Date No. of Shares Price Per Share
---------------- ---------- ------------- ---------------
<S> <C> <C> <C>
GJD 01/28/97 62,500 (P) $2.06
D'Angelo 12/26/96 3,000 (S) $2.55
D'Angelo 12/13/96 5,000 (P) $1.95
</TABLE>
Item 6 Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer.
No contract exists between any of the entities or
natural person identified in Item 2(a) above and the
issuer.
Item 7 Materials to Be Filed as Exhibits
EXHIBIT 1 JOINT FILING AGREEMENT
SIGNATURE
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: February 4, 1997.
/s/ George J. D'Angelo
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George J. D'Angelo
D'ANGELO CAPITAL CORP.
By:/s/ George J. D'Angelo
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George J. D'Angelo, President
GJD PARTNERS, L.P.
By:/s/ George J. D'Angelo
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George J. D'Angelo, President of
D'Angelo Capital Corporation, as
Managing General Partner
The original statement shall be signed by each person on whose behalf
the statement is filed or his authorized representative. If the statement is
signed on behalf of a person by his authorized representative (other than an
executive officer or general partner of this filing person), evidence of the
representative's authority to sign
Page 7 of 9 Pages
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on behalf of such person shall be filed with the statement, provided, however,
that a power of attorney for this purpose which is already on file with the
Commission may be incorporated by reference. The name and any title of each
person who signs the statement shall be typed or printed beneath his signature.
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE
FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
Page 8 of 9 Pages
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Exhibit 1
Joint Filing Agreement
In accordance with Rule 13d-1(f) under the Securities Exchange Act of
1934, as amended, the persons named below agree to the joint filing on behalf of
each of them of an amendment to the statement on Schedule 13D filed on February
6, 1997 including any amendment thereto. This Joint Filing Agreement shall be
included as an Exhibit to such joint filing. In evidence thereof, each of the
undersigned, being duly authorized, hereby executed this Agreement this 6th day
of February, 1997.
/s/ George J. D'Angelo
------------------------------
George J. D'Angelo
D'ANGELO CAPITAL CORP.
By:/s/ George J. D'Angelo
----------------------------
George J. D'Angelo, President
GJD PARTNERS, L.P.
By:/s/ George J. D'Angelo
----------------------------
George J. D'Angelo, President of
D'Angelo Capital Corporation, as
Managing General Partner
Page 9 of 9 Pages
