UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
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Kings Road Entertainment, Inc.
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(Name of Issuer)
Common Stock, Par Value $0.01 per share
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(Title of Class of Securities)
496 162 207
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(CUSIP Number)
May 17, 2000
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(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)
* 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 1 of 8 Pages
<PAGE>
CUSIP NO. 496 162 207
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NUMBER OF ABOVE PERSON (Entities Only)
Dupont Direct Financial Holdings, Incorporated
IRS I.D. No. 59-3461241
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b) X
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Georgia
NUMBER OF 5 SOLE VOTING POWER
SHARES 300,000
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER
EACH 0
REPORTING
PERSON WITH 7 SOLE DISPOSITIVE POWER
300,000
8 SHARED DISPOSITIVE POWER
0
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
300,000
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES
--------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.5%
12 TYPE OF REPORTING PERSON
CO
Page 2 of 8 Pages
<PAGE>
CUSIP NO. 496 162 207
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NUMBER OF ABOVE PERSON
Wavecount, Inc.
IRS I.D. No. 13-4654481
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b) X
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF 5 SOLE VOTING POWER
SHARES 300,000
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER
EACH 0
REPORTING
PERSON WITH 7 SOLE DISPOSITIVE POWER
300,000
8 SHARED DISPOSITIVE POWER
0
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
300,000
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES
------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.5%
12 TYPE OF REPORTING PERSON
CO
Page 3 of 8 Pages
<PAGE>
ITEM 1(a) Name of Issuer:
--------------
Kings Road Entertainment, Inc. ("Kings Road")
ITEM 1(b) Address of Issuer's Principal Executive Officers:
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3489 West Cahuenga Boulevard, Suite D
Hollywood, California 90068
ITEM 2(a) Names of Persons Filing:
------------------------
Dupont Direct Financial Holdings, Incorporated ("Dupont").
Wavecount, Inc. ("Wavecount"), the beneficial owner
of approximately 80.2% of the common stock of Dupont,
may by virtue of such ownership be deemed to also
beneficially own the shares of Kings Road held by Dupont.
ITEM 2(b) Address of Principal Business Office:
-------------------------------------
The business address of both Dupont and Wavecount is:
42 Broadway, Suite 1100-26
New York, New York 10004
ITEM 2(c) Citizenship:
------------
Dupont is a Georgia corporation. Wavecount is a
Delaware corporation.
ITEM 2(d) Title of Class of Securities:
-----------------------------
Common stock, par value $.01 per share ("Kings Road Common
Stock").
ITEM 2(e) CUSIP Number: 496 162 207
ITEM 3 If this statement is filed pursuant to Section
240.13d-1(b) or 240.13d-2(b) or (c), check whether the
person filing is:
(a) [ ] Broker or dealer registered under section 15 of the Act
(15 U.S.C. 78o);
(b) [ ] Bank as defined in section 3(a)(6) of the Act
(15 U.S.C. 78c);
(c) [ ] Insurance company as defined in section 3(a)(19) of the
Act (15 U.S.C. 78c);
(d) [ ] Investment company registered under section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e) [ ] An investment adviser in accordance with Section
240.13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance with
Section 240.13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance with
Section 240.13d-1(b)(1)(ii)(G);
(h) [ ] A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813);
(i) [ ] A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3)
(j) [ ] Group, in accordance with Section 240.13d-1(b)(1)(ii)(J).
Page 4 of 8 Pages
<PAGE>
ITEM 4 Ownership:
----------
(a) Amount beneficially owned : 300,000
(b) Percent of class: 8.5%
(c) Number of shares as to which the person has:
(i) sole power to vote or direct the
vote: 300,000
(ii) shared power to vote or direct the
vote: 0
(iii) sole power to dispose or direct the
disposition of: 300,000
(iv) shared power to dispose or direct the
disposition of: 0
The shares reported above are beneficially owned directly by
Dupont. As the beneficial owner of approximately 80.2% of the
shares of common stock of Dupont, Wavecount also may be deemed
to beneficially own the shares of Kings Road Common Stock
owned by Dupont.
ITEM 5. Ownership of Five Percent or Less of a Class:
---------------------------------------------
Not Applicable.
ITEM 6. Ownership of More Than Five Percent on Behalf of
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Another Person:
---------------
As the beneficial owner of approximately 80.2% of the the
shares of common stock of Dupont, Wavecount controls the
election of the Board of Directors of Dupont and, accordingly,
has the power to direct the receipt of dividends paid on the
shares of Kings Road Common Stock beneficially owned by
Dupont.
Page 5 of 8 Pages
<PAGE>
ITEM 7 Identification and Classification of the Subsidiary
----------------------------------------------------
Which Acquired the Security Being Reported on by the
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Parent Holding Company:
-----------------------
See Item 4 above.
ITEM 8 Identification and Classification of Members of the
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Group:
------
Not Applicable.
ITEM 9 Notice of Dissolution of Group:
-------------------------------
Not Applicable.
ITEM 10 Certification
-------------
By signing below I certify that, to the best of my 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 in and are not held in
connection with or as a participant in any transaction having
such purpose or effect.
Page 6 of 8 Pages
<PAGE>
SIGNATURE
DUPONT DIRECT FINANCIAL HOLDINGS, INCORPORATED
Date: 08/29/00 By: /s/ David W. Parsons
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Name: David W. Parsons
Title: Secretary and General Counsel
WAVECOUNT, INC.
Date: 08/29/00 By: /s/ Randy M. Strausberg
-------------- ------------------------------------
Name: Randy M. Strausberg
Title: President
Page 7 of 8 Pages
<PAGE>
JOINT FILING AGREEMENT
Dupont Direct Financial Holdings, Inc. and Wavecount, Inc. agree
that the Schedule 13G to which this agreement is attached, relating
to the common stock of Kings Road Entertainment, Inc., is filed on
behalf of each of them.
DUPONT DIRECT FINANCIAL HOLDINGS, INC.
Date: 08/29/00 By: /s/ David W. Parsons
-------------- ------------------------------------
Name: David W. Parsons
Title: Secretary and General Counsel
WAVECOUNT, INC.
Date: 08/29/00 By: /s/ Randy M. Strausberg
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Name: Randy M. Strausberg
Title: President
Page 8 of 8 Pages
