<PAGE>
OMB APPROVAL
OMB Number:3235-0145
Expires: August 31, 1999
Estimated average burden
hours per form 14.90
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)
Kushner Locke Company
(Name of Issuer)
Common Stock
(Title of Class of Securities)
501337109
(CUSIP Number)
Gruber & McBaine Capital Management
Elizabeth D. Giorgis
50 Osgood Place, Penthouse
San Francisco, CA 94133
(415) 981-1039
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
August 4, 1999
(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(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 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.
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 ("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).
Potential persons who are to respond to the collection of information
contained in this form are not required to respond unless the form displays
a currently valid OMB control number.
SEC 1746 (10-97)
<PAGE>
SCHEDULE 13D
CUSIP No. 501337109 Page 2 of 11 Pages
- ---------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
GRUBER & McBAINE CAPITAL MANAGEMENT, LLC
- ---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- ---------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(E)/ /
- ---------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
- ---------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY -------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 1,478,750
REPORTING -------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
-------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,478,750
- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,478,750
- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.72
- ---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO, IA
- ---------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
[3]<PAGE>
SCHEDULE 13D
CUSIP No. 501337109 Page 3 of 11 Pages
- ---------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
JON D. GRUBER
- ---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF, PF
- ---------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(E)/ /
- ---------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
- ---------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 191,100
BENEFICIALLY -------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 1,478,750
REPORTING -------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 191,100
-------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,478,750
- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,669,850
- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.11
- ---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ---------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
[4]<PAGE>
SCHEDULE 13D
CUSIP No. 501337109 Page 4 of 11 Pages
- ---------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
J. PATTERSON MCBAINE
- ---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF, PF
- ---------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(E)/ /
- ---------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
- ---------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 214,850
BENEFICIALLY -------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 1,478,750
REPORTING -------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 214,850
-------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,478,750
- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,693,600
- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.28
- ---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ---------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
[5]<PAGE>
SCHEDULE 13D
CUSIP No. 501337109 Page 5 of 11 Pages
- ---------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
THOMAS O. LLOYD-BUTLER
- ---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- ---------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(E)/ /
- ---------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
- ---------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY -------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 1,478,750
REPORTING -------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
-------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,478,750
- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,478,750
- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.72
- ---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ---------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
CUSIP No. 501337109 Page 6 of 11 Pages
ITEM 1. SECURITY AND ISSUER.
This statement relates to shares of Common Stock (the "Stock") of Kushner
Locke Company ("KLOC"). The principal executive office of KLOC is located
at 11601 Wilshire Boulevard, 21st Floor, Los Angeles, CA 90025.
ITEM 2. IDENTITY AND BACKGROUND.
The persons filing this statement and the persons enumerated in Instruction
C of Schedule 13D and, where applicable, their respective places of
organization, general partners, directors, executive officers and
controlling persons, and the information regarding them, are as follows:
(a) Gruber and McBaine Capital Management, L.L.C. (LLC), a California
limited liability company; Jon D. Gruber (Gruber); J. Patterson McBaine
(McBaine); Thomas O. Lloyd-Butler (TLB).
(b) The business address of LLC, Gruber, McBaine and TLB is 50 Osgood
Place, Penthouse, San Francisco, CA 94133.
(c) LLC is an investment adviser. Gruber and McBaine are the Managers of
LLC and TLB is a member of LLC.
(d) During the last five years, none of such persons has been convicted in
a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) During the last five years, none of such persons was 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 future violations of, or
prohibiting or mandating activities subject to, federal or state securities
laws or finding any violation with respect to such laws.
(f) All such persons are citizens of the United States of America.
<PAGE>
SCHEDULE 13D
CUSIP No. 501337109 Page 7 of 11 Pages
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The source and amount of funds used in purchasing the Stock were as
follows:
Purchaser Source of Funds Amount
LLC Capital Under Management $3,902,707
Gruber Personal Funds $635,498
McBaine Personal Funds $518,264
ITEM 4. PURPOSE OF TRANSACTION.
The principal purpose of the purchase of the Stock reported herein was and
is for investment.
Except as described below, the persons named in Item 2 have no plans or
proposals that relate to or would result in any of the events listed in the
instructions to Item 4 of this statement. As of the date this statement is
filed, such persons intend to communicate directly with KLOC's management
regarding its financial condition, management and business plan, with a
view to formulating suggestions for improvement. Such persons are also
considering the advisability of discussing these matters with other
significant shareholders and other ways to improve and support KLOC's
business operations. Such persons may acquire additional shares of Stock
at any time or may dispose of part or all of their Stock at any time. Such
persons currently do not otherwise have any specific plans or proposals
regarding these matters, and have not acquired the Stock with the purpose
or effect of changing or influencing control of KLOC.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
The beneficial ownership of the Stock of the persons named in Item 2 of
this statement is as follows at the date hereof:
Aggregate
Beneficially
Owned Voting Power Dispositive Power
Name Number Percent Sole Shared Sole Shared
LLC 1,478,750 10.72 0 1,478,750 0 1,478,750
Gruber 1,669,850 12.11 191,100 1,478,750 191,100 1,478,750
McBaine 1,693,600 12.28 214,850 1,478,750 214,850 1,478,750
TLB 1,478,750 10.72 0 1,478,750 0 1,478,750
<PAGE>
SCHEDULE 13D
CUSIP No. 501337109 Page 8 of 11 Pages
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER (continued).
Note: In addition to the shares reported, 75,000 shares are owned by an
investment advisory client of LLC over which LLC does not have voting or
dispositive power. Therefore, LLC disclaims beneficial ownership with
respect to those shares.
The persons filing this statement effected the following transactions in
the Stock on the dates indicated, and such transactions are the only
transactions in the Stock by the persons filing this statement since
6/4/99:
Purchase Number Price
Name or Sale Date of Shares Per Share
LLC P 10/21/99 20600 $4.41
Gruber P 10/21/99 2500 4.41
McBaine P 10/21/99 4000 4.41
LLC P 10/19/99 6000 4.48
Gruber P 10/19/99 2000 4.48
LLC P 10/18/99 8000 4.56
Gruber P 10/18/99 3800 4.56
LLC P 10/14/99 22500 5.25
Gruber P 10/14/99 3500 5.25
McBaine P 10/14/99 4000 5.25
LLC P 10/14/99 4000 5.13
McBaine P 10/14/99 1000 5.13
Gruber P 10/14/99 2500 5.20
McBaine P 10/14/99 500 5.20
LLC P 10/13/99 5000 5.50
McBaine P 10/13/99 600 5.50
Gruber P 10/13/99 1200 5.50
LLC P 10/13/99 3000 5.39
Gruber P 10/13/99 2000 5.39
LLC P 10/12/99 15000 5.55
Gruber P 10/12/99 3000 5.55
McBaine P 10/12/99 2000 5.55
LLC P 10/12/99 3900 5.46
Gruber P 10/12/99 1500 5.46
McBaine P 10/12/99 600 5.46
LLC P 10/11/99 5000 5.38
LLC P 10/11/99 9000 5.45
Gruber P 10/11/99 3000 5.45
McBaine P 10/11/99 3000 5.45
LLC P 10/8/99 26000 5.44
McBaine P 10/8/99 5000 5.44
Gruber P 10/8/99 5000 5.44
LLC P 10/8/99 2000 5.31
Gruber P 10/8/99 2000 5.31
LLC P 9/8/99 20000 4.31
<PAGE>
SCHEDULE 13D
CUSIP No. 501337109 Page 9 of 11 Pages
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER (continued).
Gruber P 9/8/99 6000 4.31
McBaine P 9/8/99 4000 4.31
LLC P 9/3/99 4500 4.50
McBaine P 9/3/99 500 4.50
McBaine P 9/3/99 200 4.48
Gruber P 9/3/99 1800 4.48
McBaine P 8/20/99 1500 5.59
LLC P 8/20/99 8500 5.59
Gruber P 8/20/99 4700 5.59
McBaine P 8/20/99 500 5.59
LLC P 8/20/99 1500 5.59
LLC P 8/19/99 2500 5.88
LLC P 8/19/99 15000 5.72
Gruber P 8/19/99 4500 5.72
Gruber P 8/18/99 8500 5.80
LLC P 8/18/99 25500 5.80
McBaine P 8/18/99 6000 5.80
LLC P 8/13/99 4500 4.00
Gruber P 8/13/99 1000 4.00
McBaine P 8/13/99 500 4.00
LLC P 8/11/99 7000 3.97
Gruber P 8/11/99 1500 3.97
McBaine P 8/11/99 1500 3.97
Gruber P 8/11/99 1800 3.92
McBaine P 8/11/99 200 3.92
LLC P 8/5/99 4000 4.26
Gruber P 8/5/99 2000 4.26
McBaine P 8/5/99 2000 4.26
LLC P 8/4/99 114000 4.44
Gruber P 8/4/99 5000 4.44
McBaine P 8/4/99 10000 4.44
LLC P 8/4/99 25000 4.50
LLC P 7/28/99 3000 5.93
Gruber P 7/28/99 1500 5.93
McBaine P 7/28/99 500 5.93
LLC P 7/20/99 29500 7.96
Gruber P 7/20/99 3500 7.96
LLC P 7/19/99 4000 7.93
Gruber P 7/19/99 2000 7.93
LLC P 7/16/99 22000 7.01
Gruber P 7/16/99 3500 7.01
McBaine P 7/16/99 3000 7.01
LLC P 7/16/99 9500 6.88
Gruber P 7/16/99 1500 6.88
McBaine P 7/16/99 4000 6.88
LLC P 7/15/99 22000 6.88
Gruber P 7/15/99 2000 6.88
McBaine P 7/15/99 4500 6.88
LLC P 7/14/99 19000 7.18
<PAGE>
SCHEDULE 13D
CUSIP No. 501337109 Page 10 of 11 Pages
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER (continued).
Gruber P 7/14/99 3000 7.18
McBaine P 7/14/99 2000 7.18
LLC P 7/13/99 19000 6.95
Gruber P 7/13/99 3000 6.95
McBaine P 7/13/99 3000 6.95
LLC P 7/12/99 3500 6.88
Gruber P 7/12/99 1000 6.88
McBaine P 7/12/99 500 6.88
Gruber P 7/9/99 1500 6.63
LLC P 7/9/99 8500 6.63
LLC P 7/8/99 4500 7.05
McBaine P 7/8/99 500 7.05
LLC P 7/7/99 2000 7.35
McBaine P 7/7/99 300 7.35
Gruber P 7/2/99 3000 6.53
LLC P 7/2/99 13000 6.53
McBaine P 7/2/99 4000 6.53
LLC P 7/1/99 32500 6.67
McBaine P 7/1/99 4000 6.67
Gruber P 7/1/99 3500 6.67
LLC P 6/30/99 7500 6.79
McBaine P 6/30/99 1000 6.79
Gruber P 6/30/99 1500 6.79
McBaine P 6/29/99 1500 5.38
LLC P 6/29/99 7000 5.38
Gruber P 6/29/99 1500 5.38
LLC P 6/28/99 23500 5.76
Gruber P 6/28/99 3000 5.76
McBaine P 6/28/99 3500 5.76
Gruber P 6/25/99 7000 6.85
LLC P 6/25/99 47000 6.85
McBaine P 6/25/99 6000 6.85
LLC P 6/25/99 18000 6.57
McBaine P 6/25/99 2000 6.57
McBaine P 6/25/99 2000 6.97
LLC P 6/25/99 18000 6.97
All transactions were executed on the Nasdaq National Market.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
A. Agreement Regarding Joint Filing of Statement on Schedule 13D or 13G
(previously filed).
<PAGE>
SCHEDULE 13D
CUSIP No. 501337109 Page 11 of 11 Pages
SIGNATURES
After reasonable inquiry and to the best of my knowledge, I certify that
the information set forth in this statement is true, complete and correct.
DATED: November 9, 1999
Jon D. Gruber
J. Patterson McBaine
Thomas O. Lloyd-Butler
Gruber and McBaine Capital Management, L.L.C., by J. Patterson McBaine,
Manager
CSR\2217\006\1071925.02
