SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  SCHEDULE 13D
                                 (Rule 13d-101)
                    Under the Securities Exchange Act of 1934
                                 Amendment No. 9
                                    --------
                        Gyrodyne Company of America, Inc.
 -------------------------------------------------------------------------------
                                (Name of Issuer)
                          Common Stock, $1.00 par value
 -------------------------------------------------------------------------------
                         (Title of Class of Securities)
                                    403820103
 -------------------------------------------------------------------------------
                                 (CUSIP Number)

                                  Elchanan Maoz
                                 Platinum House
                               21 Ha'arba'a Street
                                 Tel Aviv, 64739
                                     Israel
                               Tel: 972-3-6858555
                               Fax: 972-3-6858557

                              Guy N. Molinari, Esq.
                                Heller Ehrman LLP
                                 7 Times Square
                               Times Square Tower
                               New York, NY 10036
                                 (212) 832-8300
 -------------------------------------------------------------------------------
            (Name, Address and Telephone Number of Person Authorized
                     to Receive Notices and Communications)

                                November 18, 2005
 -------------------------------------------------------------------------------
             (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(e), 13d-1(f) or 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 Rule 13d-7(b) 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).







CUSIP No. 403820103
-----------------------------------------------------------------
     1  NAME OF REPORTING PERSONS.
             I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Kellogg
             Capital Group, LLC
-----------------------------------------------------------------
     2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                      (a)  (b)
-----------------------------------------------------------------
     3  SEC USE ONLY
-----------------------------------------------------------------
     4  SOURCE OF FUNDS*
                      N/A
------------------------------------------------------------------
     5  CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
             PURSUANT TO ITEMS 2(d) OR 2(e)
------------------------------------------------------------------
     6  CITIZENSHIP OR PLACE OF ORGANIZATION
             New York
------------------------------------------------------------------
     NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
------------------------------------------------------------------
     7  SOLE VOTING POWER
                      0
------------------------------------------------------------------
     8  SHARED VOTING POWER
                      61,772
------------------------------------------------------------------
     9  SOLE DISPOSITIVE POWER
                      0
------------------------------------------------------------------
     10      SHARED DISPOSITIVE POWER
                      61,772
-----------------------------------------------------------------
     11      AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
                      61,772
-----------------------------------------------------------------
     12      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
      SHARES*
-----------------------------------------------------------------
     13      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
                      5.1%
-----------------------------------------------------------------
     14      TYPE OF REPORTING PERSON*
                      BD
-----------------------------------------------------------------




CUSIP No. 403820103
-----------------------------------------------------------------
     1  NAME OF REPORTING PERSONS.
             I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Kellogg
             Group, LLC
-----------------------------------------------------------------
     2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                      (a)  (b)
-----------------------------------------------------------------
     3  SEC USE ONLY
-----------------------------------------------------------------
     4  SOURCE OF FUNDS*
                      N/A
------------------------------------------------------------------
     5  CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
             PURSUANT TO ITEMS 2(d) OR 2(e)
------------------------------------------------------------------
     6  CITIZENSHIP OR PLACE OF ORGANIZATION
             New York
------------------------------------------------------------------
     NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
------------------------------------------------------------------
     7  SOLE VOTING POWER
                      0
------------------------------------------------------------------
     8  SHARED VOTING POWER
                      61,772
------------------------------------------------------------------
     9  SOLE DISPOSITIVE POWER
                      0
------------------------------------------------------------------
     10      SHARED DISPOSITIVE POWER
                      61,772
-----------------------------------------------------------------
     11      AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
                      61,772
-----------------------------------------------------------------
     12      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
      SHARES*
-----------------------------------------------------------------
     13      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
                      5.1%
-----------------------------------------------------------------
     14      TYPE OF REPORTING PERSON*
                      OO
-----------------------------------------------------------------




CUSIP No. 403820103
-----------------------------------------------------------------
     1  NAME OF REPORTING PERSONS.
             I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Charles
             K. Kellogg
----------------------------------------------------------------
     2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                      (a)    (b)
-----------------------------------------------------------------
     3  SEC USE ONLY
-----------------------------------------------------------------
     4  SOURCE OF FUNDS*
                      N/A
------------------------------------------------------------------
     5  CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
             PURSUANT TO ITEMS 2(d) OR 2(e)
------------------------------------------------------------------
     6  CITIZENSHIP OR PLACE OF ORGANIZATION
                      U.S.A.
------------------------------------------------------------------
     NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
------------------------------------------------------------------
     7  SOLE VOTING POWER
                      0
------------------------------------------------------------------
     8  SHARED VOTING POWER
                      61,772
------------------------------------------------------------------
     9  SOLE DISPOSITIVE POWER
                      0
------------------------------------------------------------------
     10      SHARED DISPOSITIVE POWER
                      61,772
-----------------------------------------------------------------
     11      AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
                      61,772
---------------------------------------------------------------------
     12      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
      SHARES*
-----------------------------------------------------------------
     13      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
                      5.1%
-----------------------------------------------------------------
     14      TYPE OF REPORTING PERSON*
                      IN
-----------------------------------------------------------------






CUSIP No. 403820103
-----------------------------------------------------------------
     1. NAME OF REPORTING PERSONS.
             I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Lee
             Kellogg
-----------------------------------------------------------------
     2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                      (a)    (b)
-----------------------------------------------------------------
     3  SEC USE ONLY
-----------------------------------------------------------------
     4  SOURCE OF FUNDS*
                      N/A
------------------------------------------------------------------
     5  CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
             PURSUANT TO ITEMS 2(d) OR 2(e)
------------------------------------------------------------------
     6  CITIZENSHIP OR PLACE OF ORGANIZATION
             U.S.A.
------------------------------------------------------------------
     NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
------------------------------------------------------------------
     7  SOLE VOTING POWER
                      0
------------------------------------------------------------------
     8  SHARED VOTING POWER
                      61,772
------------------------------------------------------------------
     9  SOLE DISPOSITIVE POWER
                      0
------------------------------------------------------------------
     10      SHARED DISPOSITIVE POWER
                      61,772
-----------------------------------------------------------------
     11      AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
                      61,772
-----------------------------------------------------------------
     12      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
      SHARES*
-----------------------------------------------------------------
     13      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
                      5.1%
-----------------------------------------------------------------
     14      TYPE OF REPORTING PERSON*
                      IN
-----------------------------------------------------------------




CUSIP No. 403820103
-----------------------------------------------------------------
     1  NAME OF REPORTING PERSONS.
             I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Everest
             Special Situations Fund L.P.
-----------------------------------------------------------------
     2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
             (a)   (b)
-----------------------------------------------------------------
     3  SEC USE ONLY
-----------------------------------------------------------------
     4  SOURCE OF FUNDS*
                      N/A
------------------------------------------------------------------
     5  CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
             PURSUANT TO ITEMS 2(d) OR 2(e)
------------------------------------------------------------------
     6  CITIZENSHIP OR PLACE OF ORGANIZATION
             Delaware
------------------------------------------------------------------
     NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
------------------------------------------------------------------
     7  SOLE VOTING POWER
                      0
------------------------------------------------------------------
     8  SHARED VOTING POWER
                      30,524
------------------------------------------------------------------
     9  SOLE DISPOSITIVE POWER
                      0
------------------------------------------------------------------
     10      SHARED DISPOSITIVE POWER
                      30, 524
-----------------------------------------------------------------
     11      AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
                      30,524
-----------------------------------------------------------------
     12      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
      SHARES*
-----------------------------------------------------------------
     13      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
                      2.5%
-----------------------------------------------------------------
     14      TYPE OF REPORTING PERSON*
                      PN
-----------------------------------------------------------------




CUSIP No. 403820103
-------------------------------------------------------------------------------
      1 NAME OF REPORTING PERSONS.
              I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Maoz
              Everest Fund Management Ltd.
------------------------------------------------------------------
      2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                       (a)    (b)
 -----------------------------------------------------------------
      3 SEC USE ONLY
------------------------------------------------------------------
      4 SOURCE OF FUNDS*
                       N/A
-------------------------------------------------------------------
      5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
              PURSUANT TO ITEMS 2(d) OR 2(e)
-------------------------------------------------------------------
      6 CITIZENSHIP OR PLACE OF ORGANIZATION
                       Israel
-------------------------------------------------------------------
      NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
-------------------------------------------------------------------
      7 SOLE VOTING POWER
                       0
-------------------------------------------------------------------
      8 SHARED VOTING POWER
                       30,524
-------------------------------------------------------------------
      9 SOLE DISPOSITIVE POWER
                       0
-------------------------------------------------------------------
      10      SHARED DISPOSITIVE POWER
                       30,524
------------------------------------------------------------------
      11      AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
                       30,524
------------------------------------------------------------------
      12      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
       SHARES*
------------------------------------------------------------------
      13      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
                       2.5%
------------------------------------------------------------------
      14      TYPE OF REPORTING PERSON*
                       CO
------------------------------------------------------------------






CUSIP No. 403820103
-----------------------------------------------------------------
     1  NAME OF REPORTING PERSONS.
             I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
             Elchanan Maoz
-----------------------------------------------------------------
     2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                      (a)    (b)
-----------------------------------------------------------------
     3  SEC USE ONLY
-----------------------------------------------------------------
     4  SOURCE OF FUNDS*
                      N/A
------------------------------------------------------------------
     5  CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
             PURSUANT TO ITEMS 2(d) OR 2(e)
------------------------------------------------------------------
     6  CITIZENSHIP OR PLACE OF ORGANIZATION
                      Israel
------------------------------------------------------------------
     NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
------------------------------------------------------------------
     7  SOLE VOTING POWER
                      0
------------------------------------------------------------------
     8  SHARED VOTING POWER
                      30,524
------------------------------------------------------------------
     9  SOLE DISPOSITIVE POWER
                      0

------------------------------------------------------------------
     10      SHARED DISPOSITIVE POWER
                      30,524
-----------------------------------------------------------------
     11      AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
                      30,524
-----------------------------------------------------------------
     12      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
      SHARES*
-----------------------------------------------------------------
     13      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
                      2.5%
-----------------------------------------------------------------
     14      TYPE OF REPORTING PERSON*
                      IN
-----------------------------------------------------------------





Introduction:

     This amendment is being made to disclose follow up correspondence  with the
Issuer  dated  November  18,  2005  related to Issuer's  Annual  Meeting and the
Definitive  Proxy  filed  by the  Issuer  on  November  17,  2005,  as well as a
subsequent filing by the Issuer dated November 18, 2005. The Reporting  Persons,
in correspondence  to the Issuer's Board of Directors,  proposed in their letter
of November 7, 2005,  and reported in Amendment  No. 8 to Schedule 13D, that the
Issuer's  Annual  Meeting be  postponed  in order to provide  shareholders  with
adequate time to review matters relating to the strategic  alternatives that may
be available  to the Issuer.  The  Reporting  Persons  have  attached  hereto as
Exhibit A and filed under Item 7 of this  Schedule 13D a copy of  correspondence
to the Board of Directors of Issuer dated November 18, 2005.

     This  amendment  no. 9  reflects  no  changes  in the  previously  reported
holdings of the Reporting Persons.



                                 AMENDMENT NO. 9
                                     TO THE
                                  SCHEDULE 13D

Item 1.  Security and Issuer

    (a) Class of Securities: Common Stock, par value $1.00 ("Common Stock")

    (b) Issuer: Gyrodyne Company of America, Inc. 102 Flowerfield St. James,
New York 11780

Item 5.  Interest in Securities of the Issuer

    (c) From the date of the last amendment to Schedule 13D filed Nov. 7, 2005,
there have been no changes in the holdings of the Reporting Persons.

    (d) To the best of each of the Reporting Persons' knowledge, except as set
forth herein, no other person has the right to receive or the power to direct
the receipt of dividends from, or the proceeds from the sale of, any shares of
common stock which the Reporting Persons may be deemed to own beneficially.

     (e) Not applicable.

Item 7. Material to be filed as Exhibits

     Exhibit A: Letter from the Reporting Persons to the Issuer dated November
18, 2005.







     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.


Dated:  November 18, 2005

EVEREST SPECIAL SITUATIONS FUND L.P.

By:      Maoz Everest
         Fund Management Ltd.,
         Its general partner

         By:      /s/ ELCHANAN MAOZ
         Name:    Elchanan Maoz
         Title:   Chairman and Chief Executive Officer


MAOZ EVEREST FUND MANAGEMENT LTD.

         By:      /s/ ELCHANAN MAOZ
         Name:    Elchanan Maoz
         Title:   Chairman and Chief Executive Officer



         /s/ ELCHANAN MAOZ
         Elchanan Maoz


KELLOGG CAPITAL GROUP, LLC

         By: /s/ MATTHEW BRAND
         Name:    Matthew Brand
         Title:   Managing Director

KELLOGG GROUP, LLC

         By: /s/ MATTHEW BRAND
         Name:     Matthew Brand
         Title:   Managing Director


         /s/ CHARLES K. KELLOGG
         Charles K. Kellogg

         /S/ LEE KELLOGG
         Lee Kellogg









                                                                       EXHIBIT A


November 18, 2005

Via Facsimile & U.S. Mail

To the Board of Directors
Gyrodyne Company of America
102 Flowerfield
St. James, NY  11780

Attention:        Mr. Paul L. Lamb
                  Mr. Stephen V. Maroney

Gentlemen:

On November 7, 2005 we sent a letter asking the Company to:

     1.   Share  with   shareholders   the  pending   report  on  the  strategic
          alternatives; and

     2.   To postpone the  shareholders'  meeting to allow  shareholders time to
          digest this information.

In a letter filed with the SEC Friday, November 18, 2005, i.e., after filing the
definitive  proxy, the Company's  Management says, among other things,  that the
Board recently received the final report regarding strategic  alternatives,  but
again does not provide that  information.  Management is essentially  asking all
shareholders  to vote  blindly,  only to be informed of the  Company's  intended
direction  after the vote has  occurred.  We  believe  it only  appropriate  and
consistent with good corporate  governance to release the report  immediately or
delay the meeting.


Thank you for your consideration.



     Very truly yours,

EVEREST SPECIAL SITUATIONS FUND L.P.        KELLOGG CAPITAL GROUP, LLC


By:      /s/ ELCHANAN "NANI" MAOZ                By: /s/ MATT BRAND
         Name: Elchanan "Nani" Maoz              Name:   Matt Brand
         Title:Chairman and                      Title:  Managing Director
               Chief Executive Officer
         Tel:  972-3-6782426
         Fax:  972-3-6781494