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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 10)*
Concepts Direct, Inc.
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(Name of Issuer)
Common Stock, $.10 par value
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(Title of Class of Securities)
206013104
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(CUSIP Number)
Mr. Lance Laifer
Laifer Capital Management, Inc. Gerald Adler
Hilltop Partners, L.P. Shereff, Friedman, Hoffman & Goodman, LLP
45 West 45th Street 919 Third Avenue
New York, New York 10036 New York, New York 10022
(212) 921-4139 (212) 758-9500
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
July 22, 1997
---------------------------------------
(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
statement because of Rule 13d-1(b) (3) or (4), check the following: [ ].
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) 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).
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SCHEDULE 13D
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CUSIP No. 206013104 Page 2 of 8 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Hilltop Partners, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF | 7 SOLE VOTING POWER
SHARES | 589,700
BENEFICIALLY ----------------------------------------------------------------
OWNED BY | 8 SHARED VOTING POWER
EACH | 0
REPORTING ----------------------------------------------------------------
PERSON | 9 SOLE DISPOSITIVE POWER
WITH | 589,700
----------------------------------------------------------------
| 10 SHARED DISPOSITIVE POWER
| 0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
589,700
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.5%
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14 TYPE OF REPORTING PERSON*
PN
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*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. 2 of 8
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SCHEDULE 13D
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CUSIP No. 206013104 Page 3 of 8 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Laifer Capital Management, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF | 7 SOLE VOTING POWER
SHARES | 724,600
BENEFICIALLY ----------------------------------------------------------------
OWNED BY | 8 SHARED VOTING POWER
EACH | 0
REPORTING ----------------------------------------------------------------
PERSON | 9 SOLE DISPOSITIVE POWER
WITH | 724,600
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| 10 SHARED DISPOSITIVE POWER
| 326,300
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,050,900
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
22.2%
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14 TYPE OF REPORTING PERSON*
CO, IA
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*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. 2 of 8
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SCHEDULE 13D
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CUSIP No. 206013104 Page 4 of 8 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Lance Laifer
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF | 7 SOLE VOTING POWER
SHARES | 724,600
BENEFICIALLY ----------------------------------------------------------------
OWNED BY | 8 SHARED VOTING POWER
EACH | 0
REPORTING ----------------------------------------------------------------
PERSON | 9 SOLE DISPOSITIVE POWER
WITH | 724,600
----------------------------------------------------------------
| 10 SHARED DISPOSITIVE POWER
| 326,300
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,050,900
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
22.2%
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14 TYPE OF REPORTING PERSON*
IN
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*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. 2 of 8
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SCHEDULE 13D AMENDMENT NO. 10
CONCEPTS DIRECT, INC.
This Amendment No. 10 to the Statement on Schedule 13D (as defined
below) amends and supplements the Statement on Schedule 13D relating to the
event date of August 4, 1994 (the "Schedule 13D") filed by Hilltop Partners,
L.P., Laifer Inc. (Laifer Inc. has subsequently changed its name to Laifer
Capital Management, Inc.) and Lance Laifer (the "Reporting Persons"), Amendment
No. 1 to the Schedule 13D relating to the event date of December 30, 1994,
Amendment No. 2 to the Schedule 13D relating to the event date of March 23,
1995, Amendment No. 3 to the Schedule 13D relating to the event date of May 9,
1995, Amendment No. 4 to the Schedule 13D relating to the event date of October
25, 1995, Amendment No. 5 to the Schedule 13D relating to the event date of
March 12, 1996, Amendment No. 6 to the Schedule 13D relating to the event date
of August 14, 1996, Amendment No. 7 to the Schedule 13D relating to the event
date of January 21, 1997, Amendment No. 8 to the Schedule 13D relating to the
event date of May 9, 1997, and Amendment No. 9 to the Schedule 13D relating to
the event date July 3, 1997, each relating to the common stock, par value $.10
per share (the "Common Stock"), of Concepts Direct, Inc. (the "Issuer"). The
above- referenced Statement on Schedule 13D, Amendment No. 1 to the Schedule
13D, Amendment No. 2 to the Schedule 13D, Amendment No. 3 to the Schedule 13D,
Amendment No. 4 to the Schedule 13D, Amendment No. 5 to the Schedule 13D,
Amendment No. 6 to the Schedule 13D, Amendment No. 7 to the Schedule 13D,
Amendment No. 8 to the Schedule 13D and Amendment No. 9 to the Schedule 13D are
collectively referred to herein as the "Schedule 13D." Capitalized terms used
herein and not defined herein shall have the meanings assigned thereto in the
Schedule 13D.
Item 5. Interest in Securities of the Issuer
Item 5 of the Schedule 13D is hereby amended to read in its entirety
as follows:
(a) Hilltop is the beneficial owner of 589,700 shares (12.5%) of the
Common Stock.
Laifer Capital Management, Inc. is the beneficial owner of 1,050,900
shares (22.2%) of Common Stock. The 1,050,900 shares of Common Stock
beneficially owned by Laifer Capital Management, Inc. include:
(i) 589,700 shares of Common Stock beneficially owned by Laifer
Capital Management, Inc. in its capacity as General Partner of and Investment
Advisor to Hilltop, which shares have been described above; and
(ii) 461,200 shares of Common Stock beneficially owned by Laifer
Capital Management, Inc. in its capacity as Investment Advisor to (A) various
Wolfson family entities ("Wolfson"), One State Street Plaza, New York
10004-1505 and (B) Hilltop Offshore Limited ("Offshore"), a Cayman Islands
company, c/o Consolidated Fund Management Limited, P.O. Box HM 2257, Par La
Ville Place, Par La Ville Road, Hamilton HMJX, Bermuda (Wolfson and Offshore
are collectively referred to herein as the "Clients").
5
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Lance Laifer, as President, sole director and principal stockholder of
Laifer Capital Management, Inc. is the beneficial owner of the 1,050,900 shares
of Common Stock beneficially owned by Laifer Capital Management, Inc. as
described above.
The number of shares beneficially owned by each of the Reporting
Persons and the percentage of outstanding shares presented thereby, have been
computed in accordance with Rule 13d-3 under the Securities Exchange Act of
1934, as amended. The percentage of ownership of the Reporting Persons is based
on 4,724,286 outstanding shares of Common Stock on July 2, 1997 as reported in
the Issuer's Prospectus dated July 2, 1997.
(b) Hilltop has the sole power (i) to vote or to direct the voting of
and (ii) to dispose and to direct the disposition of the 589,700 shares of
Common Stock beneficially owned by it. Hilltop's power to vote and dispose of
its shares rests with Laifer Capital Management, Inc., in its capacity as
Hilltop's General Partner.
Laifer Capital Management, Inc. has the sole power (i) to vote and to
direct the voting of and (ii) to dispose and direct the disposition of the
589,700 shares of Common Stock beneficially owned by it in its capacity as the
General Partner of Hilltop. Laifer Capital Management, Inc. has the sole power
(i) to vote and to direct the voting of and (ii) to dispose and direct the
disposition of the 134,900 shares of Common Stock owned by Offshore. Laifer
Capital Management, Inc. shares with Wolfson the power to dispose and direct
the disposition of the 326,300 shares of Common Stock owned by Laifer Capital
Management, Inc. in its capacity as Investment Advisor to Wolfson. Wolfson
retains the sole power to vote and direct the voting of the shares of Common
Stock owned by it.
(c) Each of the Reporting Persons purchased shares of Common Stock of
the Issuer since the filing of Amendment No. 9 to the Schedule 13D. All such
shares were purchased on the open market. Additional information concerning
said transactions is contained on Annex A hereto.
(d) Not applicable.
(e) Not applicable.
6
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SIGNATURE
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.
Dated: July 31, 1997
HILLTOP PARTNERS, L.P.
By: LAIFER CAPITAL MANAGEMENT, INC.,
as General Partner
By: /s/ Lance Laifer
---------------------------------
Lance Laifer, President
LAIFER CAPITAL MANAGEMENT, INC.
By: /s/ Lance Laifer
---------------------------------
Lance Laifer, President
/s/ Lance Laifer
------------------------------------
LANCE LAIFER
7
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Annex A
Laifer Hilltop Wolfson Offshore
Date Price Comm. # Shares # Shares # Shares # Shares
07/16/97 $19.9079 $0.06 1,900 1,100 600 200
07/17/97 $21.1250 $0.00 2,500 1,400 800 300
07/17/97 $19.7500 $0.06 1,100 600 400 100
07/18/97 $21.0000 $0.00 5,000 2,900 1,500 600
07/21/97 $21.6250 $0.00 2,500 1,400 800 300
07/22/97 $21.3750 $0.00 40,000 23,000 13,600 3,400
07/25/97 $19.7500 $0.06 100 100 0 0
8
