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OMB APPROVAL
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OMB Number 3235-0287
Expires: April 30, 1997
Estimated average burden
hours per response ....... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[ ] Check this box if no longer subject of Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person
Koppelman Murray
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(Last) (First) (Middle)
c/o Eastlake Securities, Inc. 575 Lexington Avenue - 7th floor
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(Street)
New York NY 10022
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Quality Products, Inc. (QPDC)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
11/97
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [ X ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly
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FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
9. 10.
Number Owner-
of ship
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
of Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Series A $1.00 11/26/97 P 60,000 (1) 11/01/97 09/30/99 Common 60,000 (1) D
Warrants (1) Stock
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Series A $1.00 11/26/97 J 30,000 (2) 11/01/97 09/30/99 Common 30,000 (2) 90,000 I By
Warrants (2) Stock Eastlake(2)
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Series B $2.00 11/26/97 P 90,000 (1) 10/01/99 09/30/01 Common 90,000 (1) D
Warrants (1) Stock
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Series B $2.00 11/26/97 J 45,000 (2) 10/01/99 09/30/01 Common 45,000 (2) 135,000 I By
Warrants (2) Stock Eastlake (2)
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</TABLE>
Explanation of Responses: (1) Murray Koppelman (the "Reporting Person)purchased
six Units, each Unit consisting of Series A Warrants to purchase 10,000
shares of Common Stock, Series B Warrants to purchase 15,000 shares of Common
Stock and a beneficial interest in a non-convertible note. The purchase price
for each unit was $51,000.The Reporting Person also owns(which ownership is not
reflected in Table I or II) (i) a $200,000 principal amount 6% Convertible Note
issued by the Issuer and convertible into 266,666 shares of Common Stock and
(ii) 66,667 shares of Common Stock.
(2) Eastlake Securities, Inc.("Eastlake"), of which Mr. Koppelman is President
and principal shareholder, acquired Series A Warrants to acquire 30,000 shares
of Common Stock and Series B Warrants to acquire 45,000 shares of Common Stock
as partial consideration for acting as the Issuer's placement agent in
connection with the private placement of securities in which the Units were
offered. Mr. Koppelman previously disclosed his beneficial ownership of Issuer
securities in a Form 3 filed by Eastlake in August 1997.
/s/ Murray Koppelman 12/05/97
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Murray Koppelman Date
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedures.
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