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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. ____)*
ULTRADATA CORPORATION
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(Name of Issuer)
Common Stock, Par Value $.001 Per Share
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(Title of Class of Securities)
90388N 10 2
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(CUSIP Number)
*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 8 Pages
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CUSIP NO. 90388N 10 2 13G PAGE 2 OF 8 PAGES
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1 NAME OF REPORTING PERSON: Lipkin Capital Managment, Inc.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: FEIN: 41-1661262
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(A) / /
(B) /x/
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Lipkin Capital Management, Inc. is a corporation organized under the laws
of the State of Minnesota.
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5 SOLE VOTING POWER
NUMBER OF
-0-
SHARES
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BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 406,500
-------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
-------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH: 406,500
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
406,500
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
/ /
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.3%
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12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IA, CO
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CUSIP NO. 90388N 10 2 13G PAGE 3 OF 8
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1 NAME OF REPORTING PERSON: Raymond A. Lipkin
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(A) / /
(B) /x/
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Raymond A. Lipkin is a United States citizen.
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5 SOLE VOTING POWER
NUMBER OF
126,300
SHARES
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BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 75,400
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EACH 7 SOLE DISPOSITIVE POWER
REPORTING 126,300
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PERSON 8 SHARED DISPOSITIVE POWER
WITH: 75,400
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
201,700
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
/x/
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
2.6%
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12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
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Page 4 of 8 Pages
ITEM 1.
(a) Name of Issuer
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The name of the issuer is Ultradata Corporation.
(b) Address of Issuer's Principal Executive Offices
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The address of the principal executive offices of the Issuer is 5020
Franklin Drive, Pleasanton CA 94588.
ITEM 2.
(a) Name of Person Filing. This statement is being filed jointly by Lipkin
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Capital Management, Inc., a Minnesota corporation, and Raymond A.
Lipkin, an individual (the "Reporting Persons").
(b) Address of Principal Business Office or, if none, Residence. The
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principal address of the Reporting Persons is 161 Ferndale Avenue
South, Wayzata, MN 55391.
(c) Citizenship. Lipkin Capital Management, Inc. is organized under the
-----------
laws of the State of Minnesota. Raymond A. Lipkin is a citizen of the
United States.
(d) Title of Class of Securities. Common Stock, $.001 par value.
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(e) CUSIP Number. 90388N 10 2
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ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR 13D-2(B),
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CHECK WHETHER THE PERSON FILING IS A:
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With respect to Reporting Person Lipkin Capital Management, Inc.:
(a) / / Broker or Dealer registered under Section 15 of the Act
(b) / / Bank as defined in Section 3(a)(6) of the Act
(c) / / Insurance Company as defined in Section 3(a)(19) of the Act
(d) / / Investment Company registered under Section 8 of the
Investment Company Act
(e) /X/ Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940
(f) / / Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of
1974 or Endowment Fund; see (S)240.13d-1(b)(1)(ii)(F)
(g) / / Parent Holding Company, in accordance with (S)240.13d-
1(b)(ii)(G) (Note: See Item 7)
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Page 5 of 8 Pages
(h) / / Group, in accordance with (S)240.13d-1(b)(ii)(H)
Not applicable with respect to Reporting Person Raymond A. Lipkin.
ITEM 4. OWNERSHIP
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As of December 31, 1997, the beneficial ownership of shares of the
Reporting Persons was as follows:
Lipkin Capital Management, Inc.
-------------------------------
(a) Amount beneficially owned - 406,500 shares of the Issuer, held on
behalf of clients of Lipkin Capital Management, Inc. Lipkin Capital
Management, Inc. disclaims beneficial ownership with respect to all
406,500 of these shares.
(b) Percent of Class - 5.3%
(c) Of the shares beneficially owned by Lipkin Capital Management, Inc.,
Lipkin Capital Management, Inc. has the power to vote or dispose of the
shares as follows:
(i) Sole power to vote or direct the vote - 0 shares (See Item 4(a))
(ii) Shared power to vote or direct the vote - 406,500 shares
(iii) Sole power to dispose or direct the disposition of - 0
shares (See Item 4(a))
(iv) Shared power to dispose or direct the disposition of - 406,500
shares
Raymond A. Lipkin
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(a) Amount beneficially owned - 201,700 shares of the Issuer, of which
126,300 shares are held by Mr. Lipkin directly or in accounts on his
behalf and are subject to his sole voting and dispositive power, 60,000
shares are held by a family partnership in which Mr. Lipkin and his
spouse are general partners and Mr. Lipkin is the managing partner with
shared voting and dispositive power, and 20,200 shares are held by or
on behalf of family members and with respect to which Mr. Lipkin has
management and shared voting power. Mr. Lipkin disclaims beneficial
ownership with respect to all but the 126,300 shares over which he has
sole voting and dispositive power and his proportionate interest in the
family partnership. In addition, Mr. Lipkin is President of Lipkin
Capital Management, Inc. Mr. Lipkin disclaims any beneficial ownership
of shares held by Lipkin Capital Management, Inc.
(b) Percent of Class - 2.6%
(c) Of the shares beneficially owned by the Raymond A. Lipkin, Raymond A.
Lipkin has the power to vote or dispose of the shares as follows:
(i) Sole power to vote or direct the vote - 126,300 shares (See Item
4(a))
(ii) Shared power to vote or direct the vote - 75,400 shares
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Page 6 of 8 Pages
(iii) Sole power to dispose or direct the disposition of - 126,300
shares (See Item 4(a))
(iv) Shared power to dispose or direct the disposition of - 75,400
shares
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
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Not Applicable.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
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The securities as to which this Schedule is filed by Lipkin Capital
Management, Inc. are owned by clients of Lipkin Capital Management,
Inc. Those clients have the right to receive, or the power to direct
the receipt of, dividends from or the proceeds from the sale of such
securities. No such client is known to have such right or power with
respect to more than five percent (5%) of this class of securities.
The securities as to which this Schedule is filed by Raymond A. Lipkin
are owned (i) by Mr. Lipkin, either individually or by accounts on his
behalf, and over which he has sole management and voting power; or
(ii) by individual family members of Mr. Lipkin, or by accounts on
their behalf, and over which Mr. Lipkin has management and shared
voting power (See Item 4(a) above). The respective holders have the
right to receive, or the power to direct the receipt of, dividends
from or the proceeds from the sale of such securities. None of the
holders of any of the shares over which Mr. Lipkin has management and
voting power as indicated herein and in Item 4(a) above is known to
individually have such right or power with respect to more than five
percent (5%) of this class of securities.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
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SECURITY REPORTED ON BY THE PARENT HOLDING COMPANY.
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Not Applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
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Not Applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
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Not Applicable.
ITEM 10. CERTIFICATION
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Not Applicable.
ITEM 11. EXHIBITS
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Exhibit 1 - Joint Filing Agreement.
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Page 7 of 8 Pages
SIGNATURE
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After reasonable inquiry and to the best of our knowledge and belief, we
certify that the information set forth in this Statement is true, complete and
correct.
February 12, 1998 LIPKIN CAPITAL MANAGEMENT, INC.
By: /s/ Raymond A. Lipkin
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Raymond A. Lipkin, President
/s/ Raymond A. Lipkin
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Raymond A. Lipkin
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Page 8 of 8 Pages
EXHIBIT 1
JOINT FILING AGREEMENT
The undersigned Lipkin Capital Management, Inc. and Raymond A. Lipkin
hereby agree that this Schedule 13G relating to securities of Ultradata
Corporation shall be filed on behalf of each of them.
Dated: February 12, 1998 LIPKIN CAPITAL MANAGEMENT, INC.
By: /s/ Raymond A. Lipkin
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Raymond A. Lipkin, President
/s/ Raymond A. Lipkin
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Raymond A. Lipkin
