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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No._____)*
Ultradata Systems, Incorporated
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock ($0.01 per share)
--------------------------------------------------------------------------------
(Title of Class of Securities)
903891
------------------------------
(CUSIP Number)
December 31, 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)
[_] Rule 13d-1(c)
[X] Rule 13d-1(d)
* 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 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).
CUSIP Number 278858105
Page 2 of 14
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1. S.S. or I.R.S. IDENTIFICATION NO. OF REPORTING PERSON
BH Capital Investments, L.P.
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2. (See Instructions) (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3.
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4.
Ontario, Canada
------------------------------------------------------------------------------
SOLE VOTING POWER
5.
NUMBER OF 159,511
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6.
0
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7.
REPORTING 159,511
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8.
0
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9.
159,511
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10. (See Instructions)
Not Applicable
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11.
4.995%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
12.
PN
------------------------------------------------------------------------------
CUSIP Number 278858105
Page 3 of 14
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1. S.S. or I.R.S. IDENTIFICATION NO. OF REPORTING PERSON
Excalibur Limited Partnership
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2. (See Instructions) (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3.
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4.
Ontario, Canada
------------------------------------------------------------------------------
SOLE VOTING POWER
5.
NUMBER OF 159,511
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6.
0
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7.
REPORTING 159,511
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8.
0
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9.
159,511
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10. (See Instructions)
Not Applicable
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11.
4.995%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
12.
PN
------------------------------------------------------------------------------
CUSIP Number 278858105
Page 4 of 14
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1. S.S. or I.R.S. IDENTIFICATION NO. OF REPORTING PERSON
HB and Co., Inc.
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2. (See Instructions) (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3.
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4.
Ontario, Canada
------------------------------------------------------------------------------
SOLE VOTING POWER
5.
NUMBER OF 159,511
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6.
0
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7.
REPORTING 159,511
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8.
0
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9.
159,511
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10. (See Instructions)
Not Applicable
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11.
4.995%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
12.
CO
------------------------------------------------------------------------------
CUSIP Number 278858105
Page 5 of 14
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1. S.S. or I.R.S. IDENTIFICATION NO. OF REPORTING PERSON
Henry Brachfeld
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2. (See Instructions) (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3.
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4.
United States
------------------------------------------------------------------------------
SOLE VOTING POWER
5.
NUMBER OF 159,511
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6.
0
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7.
REPORTING 159,511
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8.
0
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9.
159,511
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10. (See Instructions)
Not Applicable
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11.
4.995%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
12.
IN
------------------------------------------------------------------------------
CUSIP Number 278858105
Page 6 of 14
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1. S.S. or I.R.S. IDENTIFICATION NO. OF REPORTING PERSON
Excalibur Capital Management, Inc.
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2. (See Instructions) (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3.
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4.
Ontario, Canada
------------------------------------------------------------------------------
SOLE VOTING POWER
5.
NUMBER OF 159,511
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6.
0
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7.
REPORTING 159,511
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8.
0
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9.
159,511
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10. (See Instructions)
Not Applicable
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11.
4.995%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
12.
CO
------------------------------------------------------------------------------
CUSIP Number 278858105
Page 7 of 14
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1. S.S. or I.R.S. IDENTIFICATION NO. OF REPORTING PERSON
William S. Hechter
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2. (See Instructions) (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3.
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4.
Ontario, Canada
------------------------------------------------------------------------------
SOLE VOTING POWER
5.
NUMBER OF 159,511
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6.
0
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7.
REPORTING 159,511
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8.
0
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9.
159,511
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10. (See Instructions)
Not Applicable
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11.
4.995%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
12.
IN
------------------------------------------------------------------------------
CUSIP Number 278858105
Page 8 of 14
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1. S.S. or I.R.S. IDENTIFICATION NO. OF REPORTING PERSON
Lillian Brachfeld
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2. (See Instructions) (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3.
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4.
Ontario, Canada
------------------------------------------------------------------------------
SOLE VOTING POWER
5.
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6.
0
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7.
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8.
0
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9.
0
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10. (See Instructions)
Not Applicable
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11.
0%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
12.
IN
------------------------------------------------------------------------------
CUSIP Number 278858105
Page 9 of 14
Item 1(a). Name of Issuer
Ultradata Systems, Incorporated (the "Issuer")
Item 1(b). Address of the Issuer's Principal Executive Office
9375 Dielman Industrial Drive, St. Louis, Missouri 63132
Item 2(a). Names of Persons Filing
1. BH Capital Investments, L. P. ("BHCI")
2. Excalibur Limited Partnership ("ELP")
3. HB and Co., Inc. ("HBCI")
4. Henry Brachfeld ("Mr. Brachfeld")
5. Excalibur Capital Management, Inc. ("ECMI")
6. William S. Hechter ("Mr. Hechter")
7. Lilian Brachfeld ("Mrs. Brachfeld")
Attached as Exhibit 1 is a copy of an agreement by and among the Reporting
---------
Persons to the effect that this Schedule 13G is being filed on behalf of
each of them.
Item 2(b). Address of the Principal Business Office:
The address of the principal business office of BHCI, HBCI, Mr. Brachfeld
and Mrs. Brachfeld is:
175 Bloor Street East, South Tower
Suite 705
Toronto, Ontario, Canada M4W 3R8
The address of the principal business office of ELP, ECMI and Mr. Hechter
is:
33 Prince Arthur Avenue
Toronto, Ontario, Canada M5R 1B2
Item 2(c). Citizenship
See Row (4) on Pages 2-8
Item 2(d). Title of Class of Securities
Common Stock
CUSIP Number 278858105
Page 10 of 14
Item 2(e). Cusip Number
903891
Item 3. Filing Pursuant to Rules 13d-1(b) or 13d-2(b)
Not Applicable
Item 4. Ownership
(a) See Row (9) on Pages 2-8. Reported share ownership on this
Schedule 13G represents amounts beneficially owned by the
Reporting Persons as of December 31, 2000. Each Reporting Person
is deemed to beneficially own a pro rata portion of the maximum
9.99% of the Issuer's common stock beneficially owned by the
group based on such person's pro rata ownership of the Issuer's
Series A Convertible Preferred Stock with an original stated
value of $1.6 million issued on May 16, 2000 and warrants to
purchase the Issuer's common stock issued in connection
therewith.
(b) See Row (11) on Pages 2-8. As of December 31, 2000, the Reporting
Persons beneficially owned in the aggregate 9.99% of the Issuer's
Common Stock based on 3,193,415 shares outstanding on November 7,
2000 as reported on the Issuer's Form 10-QSB for the quarter
ended September 30, 2000.
(c) See Rows (5)-(8) on Pages 2-8.
(d) Mrs. Brachfeld is the sole stockholder of HBCI and the wife of
Mr. Brachfeld. By reason of such status, Mrs. Brachfeld may be
deemed to beneficially own the shares of common stock of the
Issuer beneficially owned by HBCI and Mr. Brachfeld. Mrs.
Brachfeld disclaims beneficial ownership of all such shares
pursuant to Rule 13d-4 promulgated under the Securities Exchange
Act of 1934, as amended.
Note: The number of shares of the Issuer's common stock issuable upon
conversion of the Issuer's Series A Convertible Preferred Stock as of
December 31, 2000 is based upon a conversion price of $2.50 per share.
Pursuant to the terms of the Series A Preferred Stock, the holders of
the Series A Preferred Stock may convert such shares at the lower of
(i) $3.50 per share, or (ii) 75% of the average of the closing bid
prices of the Issuer's common stock for the five trading days preceding
the conversion date, subject to a conversion floor of $2.50 per share.
As of December 31, 2000, the applicable conversion price was $2.50 per
share. The terms of the Series A Preferred Stock prohibit a holder of
such shares from converting such portion thereof to the extent that
after giving effect to such conversion, such owner (together with other
affiliated holders of Series A Preferred Stock) would be deemed to
beneficially own more than 9.99% of the Issuer's outstanding common
stock.
CUSIP Number 278858105
Page 11 of 14
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
Not Applicable
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company
Not Applicable
Item 8. Identification and Classification of Members of the Group
Not Applicable
Item 9. Notice of Dissolution of Group
Not Applicable
Item 10. Certification
By signing below, the undersigned hereby certify that, to the best of
their knowledge and belief, the securities reported herein 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 such securities
and were not acquired in connection with or as a participant in any
transaction having such purpose or effect.
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is
true, complete and correct.
Dated: August 8, 2001
BH Capital Investments, L.P.
By: HB and Co., Inc.
By: /s/ Henry Brachfeld (SEAL)
------------------------------
Henry Brachfeld
President
Excalibur Limited Partnership
By: Excalibur Capital Management, Inc.,
General Partner
By: /s/ William S. Hechter (SEAL)
------------------------------
William S. Hechter
President
HB and Co., Inc.
By: /s/ Henry Brachfeld (SEAL)
-----------------------------------
Henry Brachfeld
President
/s/ Henry Brachfeld (SEAL)
---------------------------------------
Henry Brachfeld
Excalibur Capital Management, Inc.
By: /s/ William S. Hechter (SEAL)
-------------------------------
William S. Hechter, President
/s/ William S. Hechter (SEAL)
---------------------------------
William S. Hechter
/s/ Lilian Brachfeld (SEAL)
---------------------------------
Lilian Brachfeld
EXHIBIT 1
---------
JOINT FILING AGREEMENT AND POWER OF ATTORNEY
--------------------------------------------
In accordance with Rule 13d-1(k)(1) under the Securities Exchange Act of
1934, as amended, the persons named below (the "Filing Persons") agree to the
joint filing on behalf of each of them of this Statement on Schedule 13G and any
amendment thereto and any Schedule 13D and any amendment thereto to be filed
with the Securities and Exchange Commission with respect to the Common Stock,
par value $.01 per share, of Ultradata Systems, Incorporated, and further agree
that this Joint Filing Agreement be included as an Exhibit to such joint
filings.
Each of the Filing Persons agree that the information set forth in such
Schedule 13G and any amendments thereto or Schedule 13D and any amendment
thereto with respect to such Filing Person will be true, complete and correct as
of the date of such Schedule 13G or Schedule 13D or such amendments, to the best
of such Filing Person's knowledge and belief, after reasonable inquiry. Each of
the Filing Persons makes no representations as to the accuracy or adequacy of
the information set forth in the Schedule 13G or Schedule 13D or any amendments
thereto with respect to any other Filing Person. Each of the Filing Persons
shall promptly notify the other Filing Persons if any of the information set
forth in the Schedule 13G or Schedule 13D or any amendments thereto shall become
inaccurate in any material respect or if said person learns of information that
would require an amendment to the Schedule 13G or Schedule 13D.
In addition, each Filing Person hereby constitutes and appoints Henry
Brachfeld and William S. Hechter, and each of them acting singly, his, her, or
its true and lawful attorneys-in-fact and agents, with full power of
substitution and resubstitution, for him, her, or its and in his, her, or its
name, place and stead, in any and all capacities (until revoked in writing) to
sign any and all instruments, certificates and documents required to be executed
on behalf of him, her, or it as an individual or entity pursuant to Sections
13(d) and 13(g) of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), and any and all regulations promulgated thereunder, and to file
the same, with all exhibits thereto, and any other documents in connection
therewith, with the Securities and Exchange Commission, and with any other
entity when and if such is mandated by the Exchange Act, granting unto said
attorneys-in-fact and agents full power and authority to do and perform each and
every act and thing necessary fully for all intents and purposes as he, she, or
it might or could do in person, thereby ratifying and confirming all that said
attorneys-in-fact and agents, or their substitute or substitutes, may lawfully
do or cause to be done by virtue hereof.
In evidence thereof the undersigned, being duly authorized, hereby execute
this Agreement on this 8/th/ day of August 2001.
BH Capital Investments, L.P.
By: HB and Co., Inc.
By: /s/ Henry Brachfeld (SEAL)
----------------------------
Henry Brachfeld
President
Excalibur Limited Partnership
By: Excalibur Capital Management, Inc., General
Partner
By: /s/ William S. Hechter (SEAL)
-----------------------------
William S. Hechter
President
HB and Co., Inc.
By: /s/ Henry Brachfeld (SEAL)
----------------------------
Henry Brachfeld
President
/s/ Henry Brachfeld (SEAL)
--------------------------------
Henry Brachfeld
Excalibur Capital Management, Inc.
By: /s/ William S. Hechter (SEAL)
----------------------------
William S. Hechter, President
/s/ William S. Hechter (SEAL)
--------------------------------
William S. Hechter
/s/ Lilian Brachfeld (SEAL)
--------------------------------
Lilian Brachfeld