<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED
PURSUANT TO RULES 13d-1(b), (c) AND (d) AND AMENDMENTS
THERETO FILED PURSUANT TO RULE 13d-2(b)
(Amendment No. 2)(1)
QUESTRON TECHNOLOGY, INC.
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
748372208
(CUSIP Number)
December 31, 1999
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
/ / Rule 13d-1 (b)
/X/ Rule 13d-1 (c)
/ / Rule 13d-1 (d)
- ----------
(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 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).
(Continued on following page(s))
Page 1 of 9 Pages
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CUSIP No. 748372208 13G Page 2 of 9 Pages
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
MR. JAY R. PETSCHEK
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /x/
(b) / /
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
NUMBER OF 5 SOLE VOTING POWER
SHARES 5,800
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 700
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 5,800
PERSON WITH 8 SHARED DISPOSITIVE POWER
700
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,500
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
/ /
11 PERCENTAGE CLASS REPRESENTED BY AMOUNT IN ROW 9
.09%
12 TYPE OF REPORTING PERSON*
IN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 3
CUSIP No. 748372208 13G Page 3 of 9 Pages
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CORSAIR MANAGEMENT COMPANY, INC.
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /x/
(b) / /
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
NEW YORK
NUMBER OF 5 SOLE VOTING POWER
SHARES 0
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 700
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON WITH 8 SHARED DISPOSITIVE POWER
700
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
700
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
/ /
11 PERCENTAGE CLASS REPRESENTED BY AMOUNT IN ROW 9
.01%
12 TYPE OF REPORTING PERSON*
CO
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 4
CUSIP No. 748372208 13G Page 4 of 9 Pages
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CORSAIR MANAGING PARTNERS
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /x/
(b) / /
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
NEW YORK
NUMBER OF 5 SOLE VOTING POWER
SHARES 0
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 700
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON WITH 8 SHARED DISPOSITIVE POWER
700
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
700
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
/ /
11 PERCENTAGE CLASS REPRESENTED BY AMOUNT IN ROW 9
.01%
12 TYPE OF REPORTING PERSON*
PN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 5
Page 5 of 9 Pages
Item 1.
(a) Name of Issuer:
Questron Technology, Inc. (the "Issuer")
(b) Address of Issuer's Principal Executive Offices:
6400 Congress Avenue
Boca Raton, Florida 33487
Items 2(a)
and (b). Name of Person Filing; Address of Principal Business Office:
This statement is filed on behalf of Mr. Jay R. Petschek ("Mr.
Petschek"), Corsair Management Company, Inc., a New York
corporation ("Corsair Management"), and Corsair Managing
Partners, a New York general partnership ("CMP"). Each of Mr.
Petschek, Corsair Management and CMP has its principal office
at 590 Madison Avenue, New York, New York.
This statement relates to shares of Common Stock (as defined
below) held for the accounts of each of Corsair Capital
Partners, L.P., a Delaware limited partnership ("Corsair
Partners"), and Corsair Capital Partners II, L.P., a Delaware
limited partnership ("Corsair Partners II").
Mr. Petschek is filing in his capacity as (a) the sole general
partner of Corsair Partners, and (b) the sole shareholder of
Corsair Management, which is a general partner of CMP (which
is in turn the sole general partner of Corsair Partners II).
(c) Citizenship:
Mr. Petschek is a United States citizen, Corsair Management is
a New York corporation and CMP is a New York general
partnership.
(d) Title of Class of Securities:
Common Stock, par value $.001 per share (the "Common Stock").
(e) CUSIP Number:
748372208
Item 3. If this statement is filed pursuant to Rule 13d-1(b), or
13d-2(b), check whether the person filing is a:
Inapplicable
If this statement is filed pursuant to Rule 13d-1(c), check
this box. /X/
<PAGE> 6
Page 6 of 9 Pages
Item 4. Ownership.
(a) Amount Beneficially Owned:
(1) Mr. Petschek beneficially owns 6,500 shares of Common
Stock by virtue of his position as (i) the sole general
partner of Corsair Partners, which holds warrants exercisable
into 5,800 shares of Common Stock, for which Mr. Petschek has
sole voting power and sole dispositive power, and (ii) the
sole shareholder of Corsair Management, which is a general
partner of CMP (which is in turn the sole general partner of
Corsair Partners II), with Corsair Partners II holding
warrants exercisable into 700 shares of Common Stock, for
which Mr. Petschek may be deemed to have shared voting power
and shared dispositive power with CMP and Corsair Management.
(2) Corsair Management beneficially owns 700 shares of Common
Stock by virtue of its position as a general partner of CMP
(which is in turn the sole general partner of Corsair Partners
II), with Corsair Partners II holding warrants exercisable
into 700 shares of Common Stock, over which Corsair Management
may be deemed to have shared voting power and shared
dispositive power with Mr. Petschek and CMP.
(3) CMP beneficially owns 700 shares of Common Stock by virtue
of its position as the sole general partner of Corsair
Partners II, with Corsair Partners II holding warrants
exercisable into 700 shares of Common Stock, over which CMP
may be deemed to have shared voting power and shared
dispositive power with Mr. Petschek and Corsair Management.
Mr. Petschek, Corsair Management and CMP expressly disclaim
beneficial ownership of any shares of Common Stock not
directly held for the accounts of Corsair Partners and Corsair
Partners II.
(b) Percent of Class:
Mr. Petschek's beneficial ownership of 6,500 shares of Common
Stock constitutes 0.09% of all of the outstanding shares of
Common Stock. Corsair Management and CMP's shared beneficial
ownership of 700 shares of Common Stock constitutes 0.01% of
all of the outstanding shares of Common Stock. Together,
Mr. Petschek, Corsair Management and CMP beneficially own
0.09% of all of the outstanding shares of Common Stock.
The percentages used herein are calculated based on the
6,993,628 shares of Common Stock reflected as being issued and
outstanding as of November 11, 1999 in the Issuer's Quarterly
Report on From 10-Q, for the quarter period ended
September 30, 1999.
(c) Number of shares as to which such person has:
See Item 4(a).
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Page 7 of 9 Pages
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 five percent of the class of
securities, check the following: [x]
Item 6. Ownership of More than Five Percent on Behalf of Another
Person:
Inapplicable.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding
Company:
Inapplicable.
Item 8. Identification and Classification of Members of the Group:
Inapplicable.
Item 9. Notice of Dissolution of Group:
Inapplicable.
Item 10. Certification:
BY SIGNING BELOW EACH OF THE UNDERSIGNED CERTIFIES THAT, TO
THE BEST OF THE UNDERSIGNED'S KNOWLEDGE AND BELIEF, THE
SECURITIES REFERRED TO BELOW WERE NOT ACQUIRED AND WERE NOT
HELD FOR 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.
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Page 8 of 9 Pages
SIGNATURES
After reasonable inquiry and to the best of the undersigned's
knowledge and belief, each of the undersigned certifies that the
information set forth in this statement is true, complete and correct.
Dated: February 11, 2000 /s/ Jay R. Petschek
----------------------------------
Jay R. Petschek
Dated: February 11, 2000 Corsair Management Company, Inc.
By: /s/ Jay R. Petschek
----------------------------------
Jay R. Petschek
President
Dated: February 11, 2000 Corsair Managing Partners
By Corsair Management Company, Inc.,
a general partner
By: /s/ Jay R. Petschek
-----------------------------
Jay R. Petschek
President
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Page 9 of 9 Pages
EXHIBIT A
AGREEMENT
JOINT FILING OF SCHEDULE 13G
The undersigned hereby agree to jointly prepare and file with
regulatory authorities a Schedule 13G and any future amendments thereto
reporting each of the undersigned's ownership of securities of Questron
Technology, Inc. and hereby affirm that such Schedule 13G is being filed
on behalf of each of the undersigned.
Dated: February 11, 2000 /s/ Jay R. Petschek
----------------------------------------
Jay R. Petschek
Dated: February 11, 2000 Corsair Management Company, Inc.
By: /s/ Jay R. Petschek
----------------------------------
Jay R. Petschek
President
Dated: February 11, 2000 Corsair Managing Partners
By Corsair Management Company, Inc.,
a general partner
By: /s/ Jay R. Petschek
-----------------------------
Jay R. Petschek
President
