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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

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

QSGI Inc.

(Name of Issuer)

Common Stock, $.01 par value

(Title of Class of Securities)

74729D106

(CUSIP Number)

July 10, 2008

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

o Rule 13d-1(b)

þ Rule 13d-1(c)

o 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 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).


CUSIP No.		74729D106	13G


1	NAMES OF REPORTING PERSONS Victory Park Capital Advisors, LLC


2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
	(a) o
	(b) o

3	SEC USE ONLY



4	CITIZENSHIP OR PLACE OF ORGANIZATION

	Delaware

		5	SOLE VOTING POWER

NUMBER OF			0

SHARES		6	SHARED VOTING POWER
BENEFICIALLY
OWNED BY			1,875,000

EACH		7	SOLE DISPOSITIVE POWER
REPORTING
PERSON			0

WITH		8	SHARED DISPOSITIVE POWER

			1,875,000

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

	1,875,000

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

	o

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

	5.4%

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

	OO

Page 2 of 11


CUSIP No.		74729D106	13G


1	NAMES OF REPORTING PERSONS Victory Park Master Fund, Ltd.


2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
	(a) o
	(b) o

3	SEC USE ONLY



4	CITIZENSHIP OR PLACE OF ORGANIZATION

	Cayman Islands

		5	SOLE VOTING POWER

NUMBER OF			0

SHARES		6	SHARED VOTING POWER
BENEFICIALLY
OWNED BY			1,875,000

EACH		7	SOLE DISPOSITIVE POWER
REPORTING
PERSON			0

WITH		8	SHARED DISPOSITIVE POWER

			1,875,000

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

	1,875,000

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

	o

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

	5.4%

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

	OO

Page 3 of 11


CUSIP No.		74729D106	13G


1	NAMES OF REPORTING PERSONS Jacob Capital, L.L.C.


2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
	(a) o
	(b) o

3	SEC USE ONLY



4	CITIZENSHIP OR PLACE OF ORGANIZATION

	Illinois

		5	SOLE VOTING POWER

NUMBER OF			0

SHARES		6	SHARED VOTING POWER
BENEFICIALLY
OWNED BY			1,875,000

EACH		7	SOLE DISPOSITIVE POWER
REPORTING
PERSON			0

WITH		8	SHARED DISPOSITIVE POWER

			1,875,000

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

	1,875,000

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

	o

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

	5.4%

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

	OO

Page 4 of 11


CUSIP No.		74729D106	13G


1	NAMES OF REPORTING PERSONS Richard Levy


2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
	(a) o
	(b) o

3	SEC USE ONLY



4	CITIZENSHIP OR PLACE OF ORGANIZATION

	USA

		5	SOLE VOTING POWER

NUMBER OF			0

SHARES		6	SHARED VOTING POWER
BENEFICIALLY
OWNED BY			1,875,000

EACH		7	SOLE DISPOSITIVE POWER
REPORTING
PERSON			0

WITH		8	SHARED DISPOSITIVE POWER

			1,875,000

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

	1,875,000

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

	o

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

	5.4%

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

	IN

Page 5 of 11


CUSIP No.		74729D106	13G

Item 1(a) Name of Issuer:

QSGI Inc. (the “Issuer”)

Item 1(b) Address of Issuer’s Principal Executive Offices:

400 Royal Palm Way
Palm Beach, Florida 33480

Item 2(a) Name of Person Filing:

Victory Park Capital Advisors, LLC
Victory Park Master Fund, Ltd.
Jacob Capital, L.L.C.
Richard Levy

Victory Park Capital Advisors, LLC is the investment manager for Victory Park Master Fund, Ltd., which is the record holder of the shares. Jacob Capital, L.L.C. is the manager of Victory Park Capital Advisors, LLC. Richard Levy is the sole member of Jacob Capital, L.L.C.

Item 2(b) Address of Principal Business Office or, if none, Residence:

The business address for each of the reporting persons, other than Victory Park Master Fund, Ltd., is 227 West Monroe Street, Suite 3900, Chicago, Illinois 60606. The business address for Victory Park Master Fund, Ltd. is c/o Walkers SPV Limited, Walker House, 87 Mary Street, George Town, Grand Cayman, KY1 9002 Cayman Islands.

Item 2(c) Citizenship:

Victory Park Capital Advisors, LLC is a Delaware limited liability company.
Victory Park Master Fund, Ltd. is a Cayman Islands exempted company.
Jacob Capital, L.L.C. is an Illinois limited liability company.
Richard Levy is a citizen of the United States.

Item 2(d) Title of Class of Securities:

Common Stock, par value per share $.01 (the “Common Stock”)

Item 2(e) CUSIP Number:

74729D106

Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

Not Applicable

Item 4. Ownership:

(a)

Amount beneficially owned:


Victory Park Capital Advisors, LLC		1,875,000 shares of Common Stock
Victory Park Master Fund, Ltd.		1,875,000 shares of Common Stock
Jacob Capital, L.L.C.		1,875,000 shares of Common Stock
Richard Levy		1,875,000 shares of Common Stock

Page 6 of 11


CUSIP No.		74729D106	13G

(b)

Percent of class:


Victory Park Capital Advisors, LLC	5.4	%
Victory Park Master Fund, Ltd.	5.4	%
Jacob Capital, L.L.C.	5.4	%
Richard Levy	5.4	%

The percent of class was calculated using a total of 34,672,716 shares of Common Stock outstanding based on the Issuer’s reporting of 31,172,716 shares of Common Stock outstanding as of May 1, 2008 in its Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) on May 14, 2008 and the Issuer’s reporting of the issuance of an additional 3,500,000 shares of its Common Stock on July 8, 2008 in its Current Report on Form 8-K filed with the SEC on July 10, 2008.

(c)

Number of shares as to which the person has:

(i)

Sole power to vote or to direct the vote


Victory Park Capital Advisors, LLC		0 shares
Victory Park Master Fund, Ltd.		0 shares
Jacob Capital, L.L.C.		0 shares
Richard Levy		0 shares

(ii)

Shared power to vote or to direct the vote


Victory Park Capital Advisors, LLC		1,875,000 shares
Victory Park Master Fund, Ltd.		1,875,000 shares
Jacob Capital, L.L.C.		1,875,000 shares
Richard Levy		1,875,000 shares

(iii)

Sole power to dispose or direct the disposition of


Victory Park Capital Advisors, LLC		0 shares
Victory Park Master Fund, Ltd.		0 shares
Jacob Capital, L.L.C.		0 shares
Richard Levy		0 shares

(iv)

Shared power to dispose or to direct the disposition of


Victory Park Capital Advisors, LLC		1,875,000 shares
Victory Park Master Fund, Ltd.		1,875,000 shares
Jacob Capital, L.L.C.		1,875,000 shares
Richard Levy		1,875,000 shares

Item 5. Ownership of Five Percent or Less of a Class:

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following o.

Page 7 of 11


CUSIP No.		74729D106	13G

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 each of Victory Park Capital Advisors, LLC, Victory Park Master Fund, Ltd., Jacob Capital, L.L.C. and Richard Levy certify that, to the best of such reporting person’s knowledge and belief, the securities referred to above 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 the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

SIGNATURE

After reasonable inquiry and to the best of their knowledge and belief, each of Victory Park Capital Advisors, LLC, Victory Park Master Fund, Ltd., Jacob Capital, L.L.C. and Richard Levy certify that the information set forth in this statement is true, complete and correct.


		Date: July 18, 2008

		VICTORY PARK CAPITAL ADVISORS, LLC

		By:		Jacob Capital, L.L.C., its Manager

		By:		/s/ Richard Levy
				Name: Richard Levy
				Title: Sole Member

		VICTORY PARK MASTER FUND, LTD.

		By:		/s/ Richard Levy
				Name: Richard Levy
				Title: Attorney-in-Fact*

Page 8 of 11


CUSIP No.		74729D106	13G


		JACOB CAPITAL, L.L.C.

		By:		/s/ Richard Levy

				Name: Richard Levy
				Title: Sole Member

		/s/ Richard Levy

		Richard Levy

Page 9 of 11

Exhibit 1

JOINT FILING AGREEMENT

In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of a statement on Schedule 13G (including amendments thereto) with respect to the common stock of QSGI, Inc. and further agree that this Joint Filing Agreement be included as an Exhibit to such joint filings. In evidence thereof, the undersigned, being duly authorized, have executed this Joint Filing Agreement this 18th day of July, 2008.


		VICTORY PARK CAPITAL ADVISORS, L.L.C.

		By:		Jacob Capital, L.L.C., its Manager

		By:		/s/ Richard Levy
				Name: Richard Levy
				Title: Sole Member

		VICTORY PARK MASTER FUND, LTD.

		By:		/s/ Richard Levy
				Name: Richard Levy
				Title: Attorney-in-Fact

		JACOB CAPITAL, L.L.C.

		By:		/s/ Richard Levy

				Name: Richard Levy
				Title: Sole Member

		By:		/s/ Richard Levy

				Richard Levy

Page 10 of 11

Exhibit 2

POWER OF ATTORNEY
FOR CERTAIN FILINGS
UNDER THE SECURITIES EXCHANGE ACT OF 1934

Ronan Guilfoyle and Roger H. Hanson, each hereby make, constitute and appoint each of:

Richard Levy, and

Matthew Ray,

acting individually, as each of our agents and attorneys-in-fact, with full power of substitution, for the purpose of, from time to time, executing in either of our names and/or our capacities as directors of Victory Park Master Fund, Ltd. all documents, certificates, instruments, statements, other filings, and amendments to the forgoing (collectively, “documents”) determined by such person to be necessary or appropriate to comply with ownership or control-person reporting requirements imposed by any United States or non-United States governmental or regulatory authority, including without limitation Forms 3, 4, 5, 13D, 13F, and 13G required to be filed with the Securities and Exchange Commission; and delivering, furnishing or filing any such documents with the appropriate governmental or regulatory authority. Any such determination shall be conclusively evidenced by such person’s execution, delivery, furnishing, and/or filing of the applicable document.

IN WITNESS HEREOF, I have executed this instrument as of the date set forth below.


	Date: September 28, 2007
	/s/ Ronan Guilfoyle
	Ronan Guilfoyle,
	as Director of Victory Park Master Fund, Ltd.


	/s/ Roger H. Hanson
	Roger H. Hanson,
	as Director of Victory Park Master Fund, Ltd.

Page 11 of 11