<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. __)
Advanced Radio Telecom Corp.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
00754U101
(CUSIP Number)
February 4, 2000
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[x] Rule 13d-1(c)
[ ] Rule 13d-1(d)
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 1 of 10 Pages
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CUSIP No. 00754U101
1. NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
GBU Inc.
-----------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------------------------------------------------------------------
5. SOLE VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED BY EACH 2,654,164
REPORTING PERSON WITH
- --------------------------------------------------------------------------------
6. SHARED VOTING POWER
-0-
- --------------------------------------------------------------------------------
7. SOLE DISPOSITIVE POWER
2,654,164
- --------------------------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,654,164
- --------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES * [ ]
- --------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.7%
- --------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON *
IA
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
Page 2 of 10 Pages
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CUSIP No. 00754U101
1. NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
GEM Capital Management, Inc.
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------------------------------------------------------------------
5. SOLE VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED BY EACH 6,700
REPORTING PERSON WITH
- --------------------------------------------------------------------------------
6. SHARED VOTING POWER
-0-
- --------------------------------------------------------------------------------
7. SOLE DISPOSITIVE POWER
6,700
- --------------------------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,700
- --------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES * [ ]
- --------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
.02%
- --------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON *
IA
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
Page 3 of 10 Pages
<PAGE> 4
CUSIP No. 00754U101
1. NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Woodbury Capital Management, LLC
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
5. SOLE VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED BY EACH 159,000
REPORTING PERSON WITH
- --------------------------------------------------------------------------------
6. SHARED VOTING POWER
-0-
- --------------------------------------------------------------------------------
7. SOLE DISPOSITIVE POWER
159,000
- --------------------------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
159,000
- --------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES * [ ]
- ------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
.58%
- --------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON *
IA
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
Page 4 of 10 Pages
<PAGE> 5
CUSIP No. 00754U101
1. NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Gerald B. Unterman
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
5. SOLE VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED BY EACH
REPORTING PERSON WITH
2,880,864
- --------------------------------------------------------------------------------
6. SHARED VOTING POWER
-0-
- --------------------------------------------------------------------------------
7. SOLE DISPOSITIVE POWER
2,880,864
- --------------------------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,880,864
- --------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES * [ ]
- --------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.5%
- --------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON *
IN
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
Page 5 of 10 Pages
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Item 1(a). Name of Issuer
Advanced Radio Telecom Corp.
Item 1(b). Address of Issuer's Principal Executive Offices
500 108th Avenue, N.E.
Suite 2600
Bellevue, Washington 98004
Item 2(a). Names of Persons Filing
GBU Inc.
GEM Capital Management, Inc.
Woodbury Capital Management, LLC
Gerald B. Unterman
Item 2(b). Address of Principal Business Office
70 East 55th Street - 12th Floor New York, NY 10022
Item 2(c). Citizenship
The information contained in Item 4 on the cover pages is
incorporated hereby by reference
Item 2(d). Title of Class of Securities
Common Stock
Item 2(e). CUSIP Number
00754U101
Item 3. This Statement is filed pursuant to
Rule 13d-1(c)
Page 6 of 10 Pages
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Item 4. Ownership as of February 4, 2000
The information contained in Items 5-11 on the cover pages is
incorporated hereby by reference
Item 5. Ownership of Five Percent or Less of a Class
Not Applicable
Item 6. Ownership of More Than Five Percent on Behalf of Another
Person
GBU Inc., a registered investment adviser, is the general
partner of Oak Tree Partners, L.P., a Delaware limited
partnership which beneficially owns more than five percent
(5%) of the Common Stock of Advanced Radio Telecom Corp.
Item 7. Identification and Classification of Certain Subsidiaries
Not Applicable
Item 8. Identification and Classification of Members of a Group
See Exhibit A annexed hereto
Item 9. Notice of Dissolution of a Group
Not Applicable
Item 10. Certification
By signing below the undersigned certify that, to the best of their
knowledge and belief, the securities referred to above were acquired and are
held in the ordinary course of business and were not acquired and are not held
for the purpose of or with the effect of changing or influencing the control of
the issuer of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having that purpose or
effect.
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 accurate.
Page 7 of 10 Pages
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SIGNATURE:
Date: February 8, 2000
GBU INC.
By: /s/ Gerald B.Unterman
----------------------
Gerald B. Unterman
President
GEM CAPITAL MANAGEMENT, INC.
By: /s/ Gerald B.Unterman
----------------------
Gerald B. Unterman
President
WOODBURY CAPITAL MANAGEMENT, LLC
By: /s/ Gerald B.Unterman
----------------------
Gerald B. Unterman
Manager
/s/ Gerald B.Unterman
---------------------
GERALD B. UNTERMAN
Page 8 of 10 Pages
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EXHIBIT A
Mr. Unterman is the President, a director and majority shareholder of
GBU Inc. ("GBU"), an investment adviser registered under Section 203 of the
Investment Advisers Act of 1940 (the "Advisers Act"). GBU is the sole general
partner of Oak Tree Partners, L.P. ("Oak Tree").
Mr. Unterman is also the President, director and majority shareholder
of GEM Capital Management, Inc. ("GEM Capital"), an investment adviser
registered under the Advisers Act. GEM Capital is an investment adviser for
various managed accounts over which it has investment discretion.
Mr. Unterman is also the Manager of Woodbury Capital Management, LLC.
("Woodbury Capital"), an investment adviser registered under the Advisers Act.
Woodbury Capital is an investment adviser to an offshore fund over which it has
investment discretion.
The 2,880,864 shares of common stock of Advanced Radio Telecom Corp.
deemed to be beneficially owned by Gerald B. Unterman includes (i) 2,654,164
shares beneficially owned by GBU Inc., (ii) 6,700 shares benefically owned by
GEM Capital, (iii) 159,000 shares benefically owned by Woodbury Capital and (iv)
61,000 shares owned by the GEM Capital profit sharing trust of which Mr.
Unterman is a trustee.
The Reporting Persons are of the view that they are not acting as a
"group" for purposes of Section 13(d) under the Securities Exchange Act of 1934
and each Reporting Person disclaims beneficial ownership of the securities
deemed to be beneficially owned by the other Reporting Persons under the
Securities Exchange Act.
Page 9 of 10 Pages
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EXHIBIT B
The undersigned hereby agree that for the purposes of complying with
Regulation 13D promulgated under the Securities Exchange Act of 1934, as
amended, relating to the reporting of beneficial ownership, from time to time,
of the Common Stock of Advanced Radio Telecom Corp., by each of the undersigned,
only one statement on Schedule 13G (or one Amendment, as the case may be, in the
event an amendment to the Schedule 13G is required to be filed), will be filed
on behalf of each of the undersigned.
Dated: February 8, 2000
GBU INC.
By: /s/ Gerald B.Unterman
----------------------
Gerald B. Unterman
President
GEM CAPITAL MANAGEMENT, INC.
By: /s/ Gerald B.Unterman
----------------------
Gerald B. Unterman
President
WOODBURY CAPITAL MANAGEMENT, LLC
By: /s/ Gerald B.Unterman
----------------------
Gerald B. Unterman
Manager
/s/ Gerald B.Unterman
---------------------
GERALD B. UNTERMAN
Page 10 of 10 Pages
