<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 4)
QUINTEL ENTERTAINMENT, INC.
---------------------------
(Name of Issuer)
$.001 PAR VALUE COMMON STOCK
---------------------------
(Title of Class of Securities)
748762 10 1
---------------------------
(CUSIP Number)
STEVEN L. FEDER, C/O PSYCHIC READERS NETWORK, INC.
2455 E. Sunrise Boulevard, Ft. Lauderdale, FL 33304
(954) 563-5464
--------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
FEBRUARY 5, 1998
--------------------------------------------------------
(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(b)(3) or (4), check the following box. [ ]
Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) 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 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).
<PAGE> 2
- ----------------------------- ------------------------------------
CUSIP NO. 748762 10 1 Page 2
- ----------------------------- ------------------------------------
================================================================================
Names of Reporting Person:
Steven L. Feder
1
SS or ISA Identification Nos. of Above Person
- --------------------------------------------------------------------------------
Check the Appropriate Box if a Member of a Group*
2 (a)[X]
(b)[ ]
- --------------------------------------------------------------------------------
3 SEC use only
- --------------------------------------------------------------------------------
Source of Funds*
4
N/A
- --------------------------------------------------------------------------------
Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
5 [ ]
- --------------------------------------------------------------------------------
Citizenship or Place of Organization
6
USA
- --------------------------------------------------------------------------------
7 Sole voting power
1,236,495
------------------------------------------------------
Number of shares
beneficially 8 Shared voting power
owned by each 0
reporting person ------------------------------------------------------
with
9 Sole dispositive power
1,236,495
------------------------------------------------------
10 Shared dispositive power
0
- --------------------------------------------------------------------------------
Aggregate Amount Beneficially Owned by Each Reporting Person
11
1,236,495
- --------------------------------------------------------------------------------
Check if the Aggregate Amount in Row (11) Excludes Certain
Shares*
12 [ ]
- --------------------------------------------------------------------------------
Percent of Class Represented by Amount in Row (11)
13
7.4%
- --------------------------------------------------------------------------------
Type of Reporting Person*
14
IN
================================================================================
Page 2 of 9 Pages
<PAGE> 3
- ----------------------------- ------------------------------------
CUSIP NO. 748762 10 1 Page 3
- ----------------------------- ------------------------------------
================================================================================
Names of Reporting Person:
Thomas H. Lindsey
1
SS or ISA Identification Nos. of Above Person
- --------------------------------------------------------------------------------
Check the Appropriate Box if a Member of a Group*
2 (a)[X]
(b)[ ]
- --------------------------------------------------------------------------------
3 SEC use only
- --------------------------------------------------------------------------------
Source of Funds*
4
N/A
- --------------------------------------------------------------------------------
Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
5 [ ]
- --------------------------------------------------------------------------------
Citizenship or Place of Organization
6
USA
- --------------------------------------------------------------------------------
7 Sole voting power
1,108,376
------------------------------------------------------
Number of shares
beneficially 8 Shared voting power
owned by each 0
reporting person ------------------------------------------------------
with
9 Sole dispositive power
1,108,376
------------------------------------------------------
10 Shared dispositive power
0
- --------------------------------------------------------------------------------
Aggregate Amount Beneficially Owned by Each Reporting Person
11
1,108,376
- --------------------------------------------------------------------------------
Check if the Aggregate Amount in Row (11) Excludes Certain
Shares*
12 [ ]
- --------------------------------------------------------------------------------
Percent of Class Represented by Amount in Row (11)
13
6.6%
- --------------------------------------------------------------------------------
Type of Reporting Person*
14
IN
================================================================================
Page 3 of 9 Pages
<PAGE> 4
- ----------------------------- ------------------------------------
CUSIP NO. 748762 10 1 Page 3
- ----------------------------- ------------------------------------
================================================================================
Names of Reporting Person:
Peter Stolz
1
SS or ISA Identification Nos. of Above Person
- --------------------------------------------------------------------------------
Check the Appropriate Box if a Member of a Group*
2 (a)[X]
(b)[ ]
- --------------------------------------------------------------------------------
3 SEC use only
- --------------------------------------------------------------------------------
Source of Funds*
4
N/A
- --------------------------------------------------------------------------------
Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
5 [ ]
- --------------------------------------------------------------------------------
Citizenship or Place of Organization
6
USA
- --------------------------------------------------------------------------------
7 Sole voting power
381,210
------------------------------------------------------
Number of shares
beneficially 8 Shared voting power
owned by each 0
reporting person ------------------------------------------------------
with
9 Sole dispositive power
381,210
------------------------------------------------------
10 Shared dispositive power
0
- --------------------------------------------------------------------------------
Aggregate Amount Beneficially Owned by Each Reporting Person
11
381,210
- --------------------------------------------------------------------------------
Check if the Aggregate Amount in Row (11) Excludes Certain
Shares*
12 [ ]
- --------------------------------------------------------------------------------
Percent of Class Represented by Amount in Row (11)
13
2.3%
- --------------------------------------------------------------------------------
Type of Reporting Person*
14
IN
================================================================================
Page 4 of 9 Pages
<PAGE> 5
The joint statement on Schedule 13D of Steven L. Feder ("Feder"),
Thomas H. Lindsey ("Lindsey") and Peter Stolz ("Stolz") is hereby amended as
follows:
ITEM 1. SECURITY AND ISSUER.
Item 1 is amended by deleting the last sentence of the item and
substituting therefor the following:
As of March 13, 1998, Quintel Entertainment, Inc. (the "Company") had
16,679,746 shares of Common Stock issued and outstanding.
ITEM 4. PURPOSE OF TRANSACTION.
Item 4 is amended by the deletion thereof in its entirety and
substituting therefor the following:
On February 5, 1998, Peter T. Dirksen, Trustee of the Steven Feder
Irrevocable Short Term Trust of 1997, distributed to Feder, as beneficiary under
the trust, 1,252,495 shares of Common Stock of the Company following termination
of said trust in accordance with its terms. On March 16, 1998, Feder sold the
following shares of Common Stock in open market transactions at the following
sales prices per share: 7,500 shares at $6.375; 3,500 shares at $6.00; 1,000
shares at $6.062; 3,000 shares at $6.125; and 1,000 shares at $6.00.
On February 5, 1998, Peter T. Dirksen, Trustee of the Thomas H. Lindsey
Irrevocable Short Term Trust of 1997, distributed to Lindsey, as beneficiary
under the trust, 1,197,376 shares of Common Stock of the Company following
termination of said trust in accordance with its terms. On March 19, 1998,
Lindsey sold the following shares of Common Stock in open market transactions at
the following sales prices per share: 6,100 shares at $6.00; and 2,000 shares at
$6.125. On March 20, 1998, Lindsey sold 16,900 shares of Common Stock in open
market transactions at $6.00 per share. On March 24, 1998, Lindsey sold the
following shares of Common Stock in open market transactions at the following
sales prices per share: 15,000 shares at $5.906; and 10,000 shares at $5.875. On
March 25, 1998, Lindsey sold the following shares of Common Stock in open market
transactions at the following sales prices per share: 10,000 shares at $6.031;
and 17,000 shares at $5.875. On March 26, 1998, Lindsey sold 5,000 shares of
Common Stock in open market transactions at $5.75 per share. On March 30, 1998,
Lindsey sold 4,000 shares of Common Stock in open market transactions at $5.75
per share.
On January 5, 1998, Peter T. Dirksen, Trustee of the Peter Stolz
Irrevocable Short Term Trust of 1997 (the "Stolz Trust") sold the following
shares of Common Stock in open market transactions at the following sales prices
per share: 600 shares at $6.50 per share; 4,500 shares at $6.50 per share; and
1,800 shares at $6.50 per share. On January 6, 1998, the Stolz Trust sold the
following shares of Common Stock in open market transactions at the following
sales prices per share: 600 shares at $6.5625 per share; 1,900 shares at $6.5625
per share; and 5,000 shares at $6.5625 per share. On January 9, 1998, the Stolz
Trust sold the following shares of Common Stock
Page 5 of 9 Pages
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in open market transactions at the following sales prices per share: 600 shares
at $6.5625 per share; and 5,000 shares at $6.5625 per share. On February 5,
1998, the Stolz Trust distributed to Stolz, as beneficiary under the trust,
428,610 shares of Common Stock of the Company following termination of said
trust in accordance with its terms. On February 24, 1998, Stolz sold the
following shares of Common Stock in open market transactions at the following
sales prices per share: 100 shares at $6.72 per share; 300 shares at $6.72 per
share; 5,000 shares at $6.72 per share; 5,000 shares at $6.72 per share; and
2,000 shares at $6.72 per share. On February 25, 1998, Stolz sold the following
shares of Common Stock in open market transactions at the following sales prices
per share: 2,600 shares at $6.72 per share; 5,000 shares at $6.75 per share; and
2,400 shares at $6.75 per share. On February 26, 1998, Stolz sold the following
shares of Common Stock in open market transactions at the following sales prices
per share: 10,000 shares at $6.79 per share; 5,000 shares at $6.79 per share;
and 10,000 shares at $6.79 per share.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5 is amended by the deletion thereof in its entirety and the
substitution therefor of the following:
(a) and (b) As of February 5, 1998, each of the Reporting Persons
beneficially owns the number of shares of Common Stock listed below.
(1) Feder has sole power to vote and direct the disposition of
1,236,495 shares of Common Stock, representing approximately 7.4% of
the Common Stock.
(2) Lindsey has sole power to vote and direct the disposition
of 1,108,376 shares of Common Stock, representing approximately 6.6%
of the Common Stock.
(3) Stolz has sole power to vote and direct the disposition of
381,210 shares of Common Stock, representing approximately 2.3% of
the Common Stock.
Pursuant to Rule 13d-5(b)(1) of the Exchange Act, the group formed
by the Reporting Persons may be deemed to be the beneficial owner of all of the
2,726,081 shares of Common Stock beneficially owned by all of the Reporting
Persons, which represents approximately 16.3% of the Common Stock. Each
Reporting Person disclaims beneficial ownership of the Common Stock beneficially
owned by the other Reporting Persons.
Page 6 of 9 Pages
<PAGE> 7
5(c)
(i) Feder
<TABLE>
<CAPTION>
=====================================================================================================================
Purchase Number Price/
Date or Sale of Shares Share How Effected
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
3/16/98 Sale 7,500 6.375 Open Market
- ---------------------------------------------------------------------------------------------------------------------
3/16/98 Sale 3,500 6.000 Open Market
- ---------------------------------------------------------------------------------------------------------------------
3/16/98 Sale 1,000 6.062 Open Market
- ---------------------------------------------------------------------------------------------------------------------
3/16/98 Sale 3,000 6.125 Open Market
- ---------------------------------------------------------------------------------------------------------------------
3/16/98 Sale 1,000 6.000 Open Market
=====================================================================================================================
</TABLE>
(ii) Lindsey
<TABLE>
<CAPTION>
=======================================================================================================================
Purchase Number Price/
Date or Sale of Shares Share How Effected
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
3/19/98 Sale 6,100 6.000 Open Market
- -----------------------------------------------------------------------------------------------------------------------
3/19/98 Sale 2,000 6.125 Open Market
- -----------------------------------------------------------------------------------------------------------------------
3/20/98 Sale 16,900 6.000 Open Market
- -----------------------------------------------------------------------------------------------------------------------
3/24/98 Sale 15,000 5.906 Open Market
- -----------------------------------------------------------------------------------------------------------------------
3/24/98 Sale 10,000 5.875 Open Market
- -----------------------------------------------------------------------------------------------------------------------
3/25/98 Sale 10,000 6.031 Open Market
- -----------------------------------------------------------------------------------------------------------------------
3/25/98 Sale 17,000 5.875 Open Market
- -----------------------------------------------------------------------------------------------------------------------
3/26/98 Sale 5,000 5.750 Open Market
- -----------------------------------------------------------------------------------------------------------------------
3/30/98 Sale 4,000 5.750 Open Market
=======================================================================================================================
</TABLE>
Page 7 of 9 Pages
<PAGE> 8
(iii) Stolz
<TABLE>
<CAPTION>
========================================================================================================================
Purchase Number Price/
Date or Sale of Shares Share How Effected
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1/5/98 Sale 600 6.50 Open Market
- ------------------------------------------------------------------------------------------------------------------------
1/5/98 Sale 4,500 6.50 Open Market
- ------------------------------------------------------------------------------------------------------------------------
1/5/98 Sale 1,800 6.50 Open Market
- ------------------------------------------------------------------------------------------------------------------------
1/6/98 Sale 600 6.5625 Open Market
- ------------------------------------------------------------------------------------------------------------------------
1/6/98 Sale 1,900 6.5625 Open Market
- ------------------------------------------------------------------------------------------------------------------------
1/6/98 Sale 5,000 6.50 Open Market
- ------------------------------------------------------------------------------------------------------------------------
1/9/98 Sale 600 6.5625 Open Market
- ------------------------------------------------------------------------------------------------------------------------
1/9/98 Sale 5,000 6.5625 Open Market
- ------------------------------------------------------------------------------------------------------------------------
2/24/98 Sale 100 6.72 Open Market
- ------------------------------------------------------------------------------------------------------------------------
2/24/98 Sale 300 6.72 Open Market
- ------------------------------------------------------------------------------------------------------------------------
2/24/98 Sale 5,000 6.72 Open Market
- ------------------------------------------------------------------------------------------------------------------------
2/24/98 Sale 5,000 6.72 Open Market
- ------------------------------------------------------------------------------------------------------------------------
2/24/98 Sale 2,000 6.72 Open Market
- ------------------------------------------------------------------------------------------------------------------------
2/25/98 Sale 2,600 6.72 Open Market
- ------------------------------------------------------------------------------------------------------------------------
2/25/98 Sale 5,000 6.75 Open Market
- ------------------------------------------------------------------------------------------------------------------------
2/25/98 Sale 2,400 6.75 Open Market
- ------------------------------------------------------------------------------------------------------------------------
2/26/98 Sale 10,000 6.79 Open Market
- ------------------------------------------------------------------------------------------------------------------------
2/26/98 Sale 5,000 6.79 Open Market
- ------------------------------------------------------------------------------------------------------------------------
2/26/98 Sale 10,000 6.79 Open Market
========================================================================================================================
</TABLE>
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
SEE ITEMS 4 AND 5 FOR INFORMATION REGARDING TERMINATION OF THE TRUSTS.
Page 8 of 9 Pages
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
Dated: April 22, 1998.
/s/ Steven L. Feder
----------------------------------
Steven L. Feder
/s/ Thomas H. Lindsey
----------------------------------
Thomas H. Lindsey
/s/ Peter Stolz
----------------------------------
Peter Stolz
Page 9 of 9 Pages
