SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(RULE 13d - 102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO
13d-2(b)
(Amendment No. 1)*
Questron Technology, Inc.
(Name of Issuer)
Common Stock, $.001 par value
(Title of Class of Securities)
748372208
(CUSIP Number)
Harold I. Steinbach, Esq.
Kleinberg, Kaplan, Wolff & Cohen, P.C., 551 Fifth Avenue, New
York, New York 10176, Tel: (212) 986-6000
Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
December 31, 1998
(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 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).
<PAGE>
1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES
ONLY)
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 SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON
WITH:
5. SOLE VOTING POWER
198,397
6. SHARED VOTING POWER
54,282
7. SOLE DISPOSITIVE POWER
198,397
8. SHARED DISPOSITIVE POWER
54,282
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
252,679
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.29%
12. TYPE OF REPORTING PERSON*
IN
*SEE INSTRUCTIONS BEFORE FILLING OUT!<PAGE>
1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES
ONLY)
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 SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON
WITH:
5. SOLE VOTING POWER
0
6. SHARED VOTING POWER
54,282
7. SOLE DISPOSITIVE POWER
0
8. SHARED DISPOSITIVE POWER
54,282
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
54,282
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.14%
12. TYPE OF REPORTING PERSON*
CO
*SEE INSTRUCTIONS BEFORE FILLING OUT!<PAGE>
1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES
ONLY)
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 SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON
WITH
5. SOLE VOTING POWER
0
6. SHARED VOTING POWER
54,282
7. SOLE DISPOSITIVE POWER
0
8. SHARED DISPOSITIVE POWER
54,282
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
54,282
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.14%
12. TYPE OF REPORTING PERSON*
PN
*SEE INSTRUCTIONS BEFORE FILLING OUT!<PAGE>
This statement is filed pursuant
to Rule 13d-2(b) with respect to the shares of common stock, $.001 par
value (the "Common Stock") of Questron Technology, Inc. (the "Issuer")
beneficially owned by the Reporting Persons specified herein
as of January 1, 1999 and amends and supplements the Schedule
13G dated July 16, 1998 (the "Schedule 13G"). Except as set
forth herein, the Schedule 13G is unmodified.
Item 4. Ownership.
Provide the following information regarding the aggregate
number and percentage of the class of securities of the issuer
identified in Item 1.
(a) Amount beneficially owned:
(1) Mr. Petschek has beneficial ownership of
252,679 shares of Common Stock by virtue of his
position as (i) the sole general partner of Corsair
Partners, which holds 164,597 shares of Common
Stock and warrants exercisable for 33,800 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 Corsair Managing Partners
("CMP") (with CMP as sole general partner of
Corsair Partners II), with Corsair Partners II
holding 45,582 shares of Common Stock and warrants
exercisable for 8,700 shares of Common Stock, over
which Mr. Petschek may be deemed to have shared
voting power and shared dispositive power with CMP
and Corsair Management.
(2) Corsair Management has beneficial ownership of
54,282 shares of Common Stock by virtue of its
position as a general partner of CMP (which is the
sole general partner of Corsair Partners II), with
Corsair Partners II holding 45,582 shares of Common
Stock and warrants exercisable for 8,700 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 has beneficial ownership of 54,282 shares
of Common Stock by virtue of its position as the
sole general partner of Corsair Partners II, with
Corsair Partners II holding 45,582 shares of Common
Stock and warrants exercisable for 8,700 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.<PAGE>
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 or Corsair Partners II.
(b) Percent of class:
Mr. Petschek's beneficial ownership of 252,679
shares of Common Stock constitutes 5.29% of all of
the outstanding shares of Common Stock. Corsair
Management and CMP's shared beneficial ownership of
54,282 shares of Common Stock constitutes 1.14% of
all of the outstanding shares of Common Stock.
Together, Mr. Petschek, Corsair Management and CMP
beneficially own 5.29% of all of the outstanding
shares of Common Stock.
The percentages used herein are calculated based upon
the 4,736,935 shares of Common Stock stated to be issued
and outstanding as of November 6, 1998 in the Issuer's
Quarterly Report on Form 10-QSB for the quarter period
ended September 30, 1998.
Item 10. Certification.
By signing below the undersigned certifies that, to the
best of his or its 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 and are not held
in connection with or as a participant in any transaction having
that purpose or effect.<PAGE>
SIGNATURES
After reasonable inquiry and to the best of his or its
knowledge and belief, each of the undersigned certifies that the
information with respect to him or it set forth in this
statement is true, complete, and correct.
Dated: February 12, 1999
/s/ Jay R. Petschek
Jay R. Petschek
CORSAIR MANAGEMENT COMPANY, INC.
By: /s/ Jay R. Petschek
Jay R. Petschek
President
CORSAIR MANAGING PARTNERS
By: Corsair Management Company,
Inc., a general partner
By: /s/ Jay R. Petschek
Jay R. Petschek
President
