-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, S9LOK29VgN/SsV9WMW0owUQzHV1WLFAeIAARuyLlU3Ti9FpGiLgrBvfk2e3YaiIP Abs6HWm2hxQ3fshAuHnEtg== 0001140361-07-014404.txt : 20070719 0001140361-07-014404.hdr.sgml : 20070719 20070719144750 ACCESSION NUMBER: 0001140361-07-014404 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20070719 DATE AS OF CHANGE: 20070719 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: GOLF TRUST OF AMERICA INC CENTRAL INDEX KEY: 0001024126 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 330724736 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-50927 FILM NUMBER: 07988993 BUSINESS ADDRESS: STREET 1: 14 NORTH ADGER'S WHARF CITY: CHARLESTON STATE: SC ZIP: 29401 BUSINESS PHONE: 7147234653 MAIL ADDRESS: STREET 1: 14 NORTH ADGER'S WHARF CITY: CHARLESTON STATE: SC ZIP: 29401 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Odyssey Value Advisors, LLC CENTRAL INDEX KEY: 0001403584 IRS NUMBER: 562058405 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 601 MONTGOMERY, SUITE 1112 CITY: SAN FRNACISCO STATE: CA ZIP: 94111 BUSINESS PHONE: 415-982-2123 MAIL ADDRESS: STREET 1: 601 MONTGOMERY, SUITE 1112 CITY: SAN FRNACISCO STATE: CA ZIP: 94111 SC 13D/A 1 doc1.htm Schedule 13D
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934
(Amendment No. 2 )*



Golf Trust Of America
(Name of Issuer)

Common stock
(Title of Class of Securities)

38168B103
(CUSIP Number)


Mark Didovic
Odyssey Value Advisors, LLC
601 Montgomery Street
San Francisco, CA 94111
415-982-2123
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)

July 19, 2007
(Date of Event which Requires Filling of this Statement)


If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of ·· 240.13d-1(e), 240.13d-1 (f) or 240.13d-1(g), check the following box.   (    )



Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See · 240.13d-7 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).



 



SCHEDULE 13D
CUSIP No. 38168B103
  1. Names of Reporting Persons.
Odyssey Value Advisors, LLC
I.R.S. Identification No. 56-2058405
  2. Check the Appropriate Box if a Member of a Group*
(a.)  (    )       (b.)  (    )
  3. SEC USE ONLY
  4. Source of Funds*
SC
  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to items 2(d) or 2(e)  (    )
  6. Citizenship or Place of Organization
USA
Number of
Shares
Beneficially
Owned by
Each Reporting
Person With		 7. Sole Voting Power
700,000
8. Shared Voting Power
9. Sole Dispositive Power
700,000
10. Shared Dispositive Power
  11. Aggregate Amount Beneficially Owned by Each Reporting Person
700,000
  12. Check if the Aggregate Amount Represented by Amount in Row (11) Excludes Certain Shares
(See Instructions)   (    )
  13. Percent of Class Represented by Amount in Row (11)
9.60%
  14. Type of Reporting Person
PN


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Item 1. Security and Issuer

         Golf Trust of America, INC
10 North Adger's Wharf
Charleston, SC 29401


Item 2. Identity and Background.


(a)

Name:  William Vlahos, General Partner

Odyssey Value Advisors, LLC


(b)

Residence or business address:  601 Montgomery Street, Suite 1112
San Francisco, CA 94111


(c)

Present Principal Occupation or Employment:  See above


(d)

Criminal Conviction:  No


(e)

Court or Administrative Proceedings:  No


(f)

 Citizenship:  USA


Item 3. Source and Amount of Funds or Other Consideration:

         700,000 Shares of common stock were purchased by Odyssey Value Advisors, LLC for the benefit for the Odyssey Value Partners, LP fund for the total of $1,342,885.


Item 4. Purpose of Transaction

         We are carefully reviewing all options to insure that shareholder value is maximized.




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(a)

The acquisition by any person of additional securities of the issuer, or the disposition of securities of the issuer;

The reporting person may acquire further shares depending on market conditions and price.


(b)

An extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the issuer or any of its subsidiaries;

See above paragraphs.


(c)

A sale or transfer of a material amount of assets of the issuer or any of its subsidiaries;

See above paragraphs.


(d)

Any change in the present board of directors or management of the issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board;

We are currently examining our alternatives.


(e)

Any material change in the present capitalization or dividend policy of the issuer;

Not presently.


(f)

Any other material change in the issuer's business or corporate structure including but not limited to, if the issuer is a registered closed-end investment company, any plans or proposals to make any changes in its investment policy for which a vote is required by section 13 of the Investment Company Act of 1940;

Not applicable.


(g)

Changes in the issuer's charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the issuer by any person;

Not presently.


(h)

Causing a class of securities of the issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association;

No


(i)

A class of equity securities of the issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Act; or

No


(j)

Any action similar to any of those enumerated above.

No



Item 5. Interest in Securities of the Issuer.


(a)

The reporting entity owns 700,000 shares of common stock for $1,342,885.


(b)

700,000 voting shares.


(c)

Not applicable.


 

Transaction
Date

Shares or Units
Purchased (Sold)

Price per
Share or Unit

 

 

07/2007

143,500

  

$2.45

  

 

 

 


(d)

Not applicable.


(e)

Not applicable.


Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.


         None.



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Item 7. Material to be Filed as Exhibits.


         None.


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.

 
Date:   July 19, 2007
  William Vlahos
  By: /s/ William Vlahos
      William Vlahos
  Title:    Managing Partner 
 


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