0001437749-14-021569.txt : 20141202 0001437749-14-021569.hdr.sgml : 20141202 20141202164831 ACCESSION NUMBER: 0001437749-14-021569 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20141202 DATE AS OF CHANGE: 20141202 GROUP MEMBERS: BKF ASSET HOLDINGS, INC. GROUP MEMBERS: BKF CAPITAL GROUP, INC. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: QUALSTAR CORP CENTRAL INDEX KEY: 0000758938 STANDARD INDUSTRIAL CLASSIFICATION: MAGNETIC & OPTICAL RECORDING MEDIA [3695] IRS NUMBER: 953927330 STATE OF INCORPORATION: CA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-61195 FILM NUMBER: 141261126 BUSINESS ADDRESS: STREET 1: 3990-B HERITAGE OAK COURT CITY: SIMI VALLEY STATE: CA ZIP: 93063 BUSINESS PHONE: 805-583-7744 MAIL ADDRESS: STREET 1: 3990-B HERITAGE OAK COURT CITY: SIMI VALLEY STATE: CA ZIP: 93063 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BRONSON STEVEN N CENTRAL INDEX KEY: 0001000383 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SC 13D/A 1 sbron20141201_sc13da.htm SCHEDULE 13D/A qbak20141201_sc13da.htm

SECURITIES AND EXCHANGE COMMISSION

Washington. D.C. 20549

 

SCHEDULE 13D

(Rule l3d-101)

 

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO

RULE 13d-2(a)

 

 (Amendment No. 13)

 

Qualstar Corporation

-----------------------------------------------------------------------------

(Name of Issuer)

 

Common Stock, no par value

-----------------------------------------------------------------------------

(Title of Class of Securities)

 

74758R109

-----------------------------------------------------------------------------

(CUSIP Number)

 

Steven N. Bronson

BKF Capital Group, Inc.

BKF Asset Holdings, Inc.

3990-B Heritage Oak Court

Simi Valley, CA 93063

(805) 583-7744

 

with a copy to:

 

James A. Prestiano, Esq.

631 Commack Road, Suite 2A

Commack, New York 11725

(631) 499-6000

 

------------------------------------------------

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

 

November 20, 2014

----------------------------------------------

(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 that is the subject of this Schedule 13D, and is filing this schedule because of Rule l3d-l(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 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 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 pages)

 

--------

    (1) 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.

 

 
 

 

 

CUSIP No. 74758R109 

 

 

 

 

 

1. 

NAME OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) 

 

 

 

 

 

 

 

Steven N. Bronson 

 

     

2. 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP 

(a) [ ] 

 

 

 

 

(b) [ ] 

         

 

 

 

 

 

3. 

SEC USE ONLY 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4. 

SOURCE OF FUNDS 

 

 

 

 

 

 

 

Not applicable. 

 

 

 

 

 

 

5. 

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)

[ ]

         
6. CITIZENSHIP OR PLACE OF ORGANIZATION  
         
  USA  
       
NUMBER OF 7. SOLE VOTING POWER  
SHARES   57,700  
OWNED BY      
EACH 8. SHARED VOTING POWER  
REPORTING   2,999,564  
PERSON      
WITH 9. SOLE DISPOSITIVE POWER  
      57,700  
         
    10. SHARED DISPOSITIVE POWER  
      2,999,564  
         
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
         
  3,057,264  
         
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
         
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (1l)  
         

 

25%

 

 

 

         
14. TYPE OF REPORTING PERSON  
         
  IN      
         
SEE INSTRUCTIONS BEFORE FILLING OUT

 

 
 

 

  

CUSIP No. 74758R109

 

 

 

 

 

 

1. 

NAME OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) 

 

 

 

 

 

 

 

  BKF Capital Group, Inc. Tax Id. No. 36-0767530
     

2. 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP 

(a) [ ] 

 

 

 

 

 

(b) [ ] 

           

 

 

 

 

 

 

3. 

SEC USE ONLY 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4. 

SOURCE OF FUNDS 

 

 

 

 

 

 

 

 

Not applicable. 

 

 

 

 

 

 

 

5. 

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)

[ ]

           
6. CITIZENSHIP OR PLACE OF ORGANIZATION  
           
  Delaware  
         
NUMBER OF 7. SOLE VOTING POWER    
SHARES   1,500,000    
OWNED BY        
EACH 8. SHARED VOTING POWER    
REPORTING   1,499,564    
PERSON        
WITH 9. SOLE DISPOSITIVE POWER    
      1,500,000    
           
    10. SHARED DISPOSITIVE POWER    
      1,499,564    
           
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
           
  2,999,564  
           
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
           
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (1l)  
           

 

24.5%

 

 

 

 

           
14. TYPE OF REPORTING PERSON  
           
  CO        
           
SEE INSTRUCTIONS BEFORE FILLING OUT

 

 
 

 

 

  

CUSIP No. 74758R109

 

 

 

 

 

 

1. 

NAME OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) 

 

 

 

 

 

 

 

  BKF Asset Holdings, Inc. Tax Id. No. 36-0767530
     

2. 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP 

(a) [ ] 

 

 

 

 

 

(b) [ ] 

           

 

 

 

 

 

 

3. 

SEC USE ONLY 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4. 

SOURCE OF FUNDS 

 

 

 

 

 

 

 

 

Not applicable. 

 

 

 

 

 

 

 

5. 

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)

[ ]

           
6. CITIZENSHIP OR PLACE OF ORGANIZATION  
           
  Delaware  
         
NUMBER OF 7. SOLE VOTING POWER    
SHARES   1,499,564    
OWNED BY        
EACH 8. SHARED VOTING POWER    
REPORTING   0    
PERSON        
WITH 9. SOLE DISPOSITIVE POWER    
      1,499,564    
           
    10. SHARED DISPOSITIVE POWER    
      0    
           
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
           
  1,499,564  
           
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
           
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (1l)  
           

 

12.2%

 

 

 

 

           
14. TYPE OF REPORTING PERSON  
           
  CO        
           
SEE INSTRUCTIONS BEFORE FILLING OUT

 

 
 

 

CUSIP No. 74758R109 

SCHEDULE 13D 

 

 

Item 1. Security and Issuer.

 

Except as expressly restated and amended below, the Schedule 13D as filed on behalf of Steven N. Bronson, BKF Capital Group, Inc. and BKF Asset Holdings, Inc. with respect to the shares of common stock, no par value per share (the "Common Stock") of Qualstar Corporation, a California corporation, with its principal offices located at 3990-B Heritage Oak Court Simi Valley, CA 93063 (the "Issuer" or “Qualstar”) remains in full force and effect. The Issuer  recently reported that as of November 7, 2014, the Issuer had 12,253,117 shares of Common Stock outstanding.

 

 

Item 2. Identity and Background.

 

     (a) This Schedule 13D Amendment No. 13 is filed on behalf of Steven N. Bronson, BKF Capital Group, Inc. ("BKF Capital") and BKF Asset Holdings, Inc. (“ BKF AH”).

 

     (b) Mr. Bronson’s, BKF Capital’s and BKF AH's business address is 3990-B Heritage Oak Court Simi Valley, CA 93063.

 

     (c) Mr. Bronson is the CEO of Qualstar. Mr. Bronson is also the Chairman, CEO and majority shareholder of BKF Capital, a publicly traded corporation. BKF AH is a wholly owned subsidiary of BKF Capital.

 

     (d) During the last five years Mr. Bronson, BKF Capital and BKF AH have not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).

 

     (e) During the last five years, Mr. Bronson, BKF Capital and BKF AH, have not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining further violations of, or prohibiting or mandating activities subject to the federal or state securities laws or finding any violation with respect to such laws.

 

     (f) Mr. Bronson is a citizen of the United States of America. BKF Capital and BKF AH are organized under the laws of the State of Delaware.

 

 

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

 

On November 20, 2014, BKF AH acquired, in an open market transaction, using its corporate funds, 137,830 shares of Common Stock at a purchase price of $1.20 per share. On November 24, 2014, BKF AH acquired, in an open market transaction, using its corporate funds, 100 shares of Common Stock at a purchase price of $1.24 per share. On November 25, 2014, BKF AH acquired, in an open market transaction, using its corporate funds, 500 shares of Common Stock at a purchase price of $1.24 per share. On November 26, 2014, BKF AH acquired, in an open market transaction, using its corporate funds, 900 shares of Common Stock at a purchase price of $1.24 per share.

 

 
 

 

 

Item 4. Purpose of Transaction.

 

Item 4 of the Schedule 13D is amended by adding the following disclosures:

 

The Reporting Persons acquired the securities of the Issuer for investment purposes and may make further purchases or sales of shares of Common Stock of the Issuer through open market or privately negotiated transactions or otherwise. If the Reporting Persons undertake any of the above described possible actions, the Reporting Persons will, among other things, timely file an appropriate amendment to this Schedule 13D.

 

 

Item 5. Interest in Securities of the Issuer.

 

(a)(b) BKF Capital owns an aggregate of 2,999,564 shares of the Issuer's Common Stock, consisting of 1,500,000 shares owned directly by BKF Capital, and an additional 1,499,564 shares owned through BKF AH, representing approximately 24.5% of the total shares of Common Stock deemed outstanding. BKF AH owns 1,499,564 shares of Common Stock, representing approximately 12.2% of the total shares of Common Stock deemed outstanding. Steven N. Bronson as the Chairman and CEO of BKF Capital may be deemed to be the beneficial owner of the shares of Common Stock held by BKF Capital. Mr. Bronson owns an additional 57,700 shares of Common Stock. Accordingly, Mr. Bronson may be deemed to beneficially own an aggregate of 3,057,264 shares of the Issuer's Common Stock, representing approximately 25% of the total shares of Common Stock deemed outstanding.

 

(c) The following open market transactions were effected by BKF AH, during the past sixty (60) days:

 

Trade Date

Buy/

Sell

 

Number

of Shares

   

Price

Per Share

 

10/03/14

Buy

    5,114     $ 1.20  

10/02/13

Buy

    40,000     $ 1.18  

 

(d) Not applicable.

 

(e) Not applicable.

 

 

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

 

Not applicable.

 

 

Item 7. Material to be Filed as Exhibits.

 

Not applicable.

 

 
 

 

 

        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.

 

Dated: December 2, 2014

 

 

 

Steven N. Bronson 

 

 

 

 

 

 

 

/s/ Steven N. Bronson 

 

 

 

Steven N. Bronson

 

 

 

 

 

 

 

 

 

 

 

BKF Capital Group, Inc. 

 

 

 

 

 

 

By: 

/s/ Steven N. Bronson 

 

 

 

Steven N. Bronson, President 

 

 

 

 

 

 

 

 

 

    BKF Asset Holdings, Inc.  
       
  By: /s/ Steven N. Bronson  

 

 

Steven N. Bronson, President 

 

 

 

Attention: Intentional misstatements or omissions of fact constitute federal criminal violations (See 18 U.S.C. Section l001).