UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No.__5__)*
Childrens Broadcasting Corporation
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
168755-20-5
------------------------------
(CUSIP Number)
Richard W. Perkins 730 East Lake Street, Wayzata, MN 55391 612-473-8367
- ----------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notice and
Communications)
June 25, 1999
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(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(b)(3) or (4), check the following box /__/.
*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
disclosure 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).
SEC 1746 (12-91) Page 1 of 5 pages
<PAGE>
CUSIP No. 168755-20-5 Schedule 13D Page 2 of 5 pages
1 NAME OF REPORTING PERSON
S.S. OR IRS IDENTIFICATION NO. OF ABOVE PERSON
Perkins Capital Management, Inc.
41-1501962
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /_/
(b) /_/
3 SEC USE ONLY
4 SOURCE OF FUNDS*
OO
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e).
/_/
6 CITIZENSHIP OR PLACE OF ORGANIZATION
730 East Lake Street, Wayzzata, MN 55391-1769
7 SOLE VOTING POWER
150,801
NUMBER OF
8 SHARED VOTING POWER
SHARES 0
BENEFICIALLY
OWNED BY 9 SOLE DISPOSITIVE POWER
648,561
EACH
REPORTING
PERSON 10 SHARED DISPOSITIVE POWER
0
WITH
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
648,561
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /_/
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.9%
14 TYPE OF REPORTING PERSON*
IA
SEC 1746 (12-91) Page 2 of 5 pages
<PAGE>
CUSIP No. 168755-20-5 SCHEDULE 13D Page 3 of 5 pages
1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO OF ABOVE PERSON
Richard W. Perkins
###-##-####
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /_/
(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
730 East Lake Street, Wayzata, MN 55391
NUMBER OF
SHARES 7 SOLE VOTING POWER
336,460
BENEFICIALLY
8 SHARED VOTING POWER
OWNED BY 0
EACH 9 SOLE DISPOSITIVE POWER
597,300
REPORTING
10 SHARED DISPOSITIVE POWER
PERSON 0
WITH
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
597,300
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/_/
13 PERCENT OF CLASS REPRESENTAED BY AMOUNT IN ROW (11)
9.2%
14 TYPE OF REPORTIN PERSON*
IN
SEC 1746 (12-91) Page 3 of 5
<PAGE>
CUSIP NO. 168755-20-5 Page 4 of 5
Item 1. Security and Issuer
(a) Childrens Broadcasting Corporation
(b) 5501 Excelsior Boulevard, Minneapolis, Minnesota 55416
Item 2. Identity and Background
(a) The names of the persons filing are Perkins Capital Management,
Inc. and Richard W. Perkins.
(b) The filing persons business address is 730 East Lake Street,
Wayzata, MN 55391.
(c) Perkins Capital Management, Inc., is a federally registered
investment advisor. Richard W. Perkins is President of Perkins
Capital Management, Inc.
(d) No named person has ever been convicted in a criminal proceeding.
(e) No named person has ever been a party to any civil proceeding as a
result of which he was or is subject to a judgement, decree of
final order enjoying future violations of, or prohibiting or
mandating activities subject to, federal or state securites laws
or finding any violation with respect to such laws.
(f) The named persons are citizens of the United States.
Item 3. Source and Amount of Funds or Other Consideration
The total amount paid from client accounts at Perkins Capital
Management, Inc. was $146,625.00; Richard W. Perkins, as trustee
for various trusts of which he is sole trustee, paid $180,000.00
from these various accounts; the total amount of shares purchased
in the open market on June 25, 1999 was 163,000 shares for a total
price of $326,625.00. This amount has been reduced by 50,000 shares
and $100,050.00 from the previous filing due to one client, Mr.
Christopher T. Dahl, filing under seperate cover.
Item 4. Purpose of the Transaction
The purpose of this transaction is an acquisition by Perkins Capital
Management, Inc. and Richard W. Perkins of additional securities of
the issuer.
Item 5. Interest in Securities of the Issuer
Perkins Capital Management, Inc. an investment advisor, has sole
dispositive power over 648,561 shares of common equivalents (includes
219,375 warrants exercisable within 60 days) of the issuer and has
sole voting power over 150,801 of such shares. This amount was
reduced by 50,000 shares from the previous filing due to one client,
Mr. Christopher T. Dahl, filing under seperate cover.
Richard W. Perkins as trustee for various trusts, owns, has sole
dispositive power over 597,300 common equivalents (includes 205,000
warrants and 55,804 options exercisable within 60 days) and sole
voting power over 336,460 shares of the issuer.
SEC 1746 (12-91) Page 4 of 5 pages
<PAGE>
CUSIP No. 168755-20-5 SCHEDULE 13D Page 5 of 5 pages
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securites of the Issuer
None.
Item 7. Material to be Filed as Exhibits
None.
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete
and correct.
June 30, 1999
By /s/ Richard W. Perkins
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(Signature)
Richard W. Perkins, President
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(Name/Title)
SEC 1746 (12-91) Page 5 of 5 pages
