<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 15)*
Concepts Direct, Inc.
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.10 par value
--------------------------------------------------------------------------------
(Title of Class of Securities)
206013104
--------------------------------------------------------------------------------
(CUSIP Number)
Mr. Lance Laifer Gerald Adler
Laifer Capital Management, Inc. Swidler Berlin Shereff Friedman, LLP
Hilltop Partners, L.P. 405 Lexington Avenue
450 7th Avenue New York, New York 10174
New York, New York 10123 (212) 268-8048 (212) 973-0111
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 8, 2000
--------------------------------------------------------------------------------
(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).
<PAGE>
CUSIP No. 206013104 SCHEDULE 13D Page 2 of 8 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Hilltop Partners, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
503,700
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 503,700
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
503,700
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
*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
<PAGE>
CUSIP No. 206013104 SCHEDULE 13D Page 3 of 8 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Laifer Capital Management, Inc.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
569,200
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 569,200
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
704,700
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,273,900
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
25.6%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO, 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. 2 of 8
<PAGE>
CUSIP No. 206013104 SCHEDULE 13D Page 4 of 8 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Lance Laifer
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
569,200
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 569,200
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
704,700
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,273,900
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
25.6%
--------------------------------------------------------------------------------
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. 2 of 8
<PAGE>
SCHEDULE 13D AMENDMENT NO. 15
CONCEPTS DIRECT, INC.
This Amendment No. 15 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, Amendment No. 9 to the Schedule 13D relating to the event date
of July 3, 1997, Amendment No. 10 to the Schedule 13D relating to the event date
of July 22, 1997, Amendment No. 11 to the Schedule 13D relating to the event
date of October 31, 1997, Amendment No. 12 to the Schedule 13D relating to the
event date of January 6, 1998, Amendment No. 13 to the Schedule 13D relating to
the event date of January 4, 1999 and Amendment No. 14 to the Schedule 13D
relating to the event date of December 1, 1999, 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, Amendment No. 9 to the
Schedule 13D, Amendment No. 10 to the Schedule 13D, Amendment No. 11 to the
Schedule 13D, Amendment No. 12 to the Schedule 13D, Amendment No. 13 to the
Schedule 13D and Amendment No. 14 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 503,700 shares (10.1%) of the
Common Stock.
Laifer Capital Management, Inc. is the beneficial owner of 1,273,900
shares (25.6%) of Common Stock. The 1,273,900 shares of Common Stock
beneficially owned by Laifer Capital Management, Inc. include:
(i) 503,700 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) 770,200 shares of Common Stock beneficially owned by Laifer
Capital Management, Inc. in its capacity as Investment Advisor to (A) various
Wolfson family entities
5
<PAGE>
("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").
Lance Laifer, as President, sole director and principal stockholder
of Laifer Capital Management, Inc. is the beneficial owner of the 1,273,900
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 4,985,618 outstanding shares of Common Stock on May 8, 2000 as reported in
the Issuer's Quarterly Report on Form 10-Q for the period ended March 31, 2000.
(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 503,700 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
503,700 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 65,500 shares of Common Stock owned by Offshore. Laifer
Capital Management, Inc. shares with Wolfson the power to dispose and direct the
disposition of the 704,700 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) Certain of the Reporting Persons purchased shares of Common
Stock of the Issuer during the last sixty days. Except as indicated, 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
<PAGE>
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: June 28, 2000
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
<PAGE>
Annex A
--------------------------------------------------------------------------------
Laifer Hilltop Wolfson Offshore
Date Price Comm. # Shares # Shares # Shares # Shares
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
5/12/00 $11.25 -- 2,000 0 2,000 0
--------------------------------------------------------------------------------
5/16/00 11.50 -- 3,000 0 3,000 0
--------------------------------------------------------------------------------
5/17/00 11.50 -- 2,000 0 2,000 0
--------------------------------------------------------------------------------
5/18/00 11.00 -- 500 0 500 0
--------------------------------------------------------------------------------
5/19/00 11.40 -- 2,500 0 2,500 0
--------------------------------------------------------------------------------
5/22/00 11.20 -- 2,500 0 2,500 0
--------------------------------------------------------------------------------
5/23/00 12.00 -- 2,500 0 2,500 0
--------------------------------------------------------------------------------
5/24/00 10.50 -- 6,500 0 6,500 0
--------------------------------------------------------------------------------
6/13/00 8.50 -- 2,500 0 2,500 0
--------------------------------------------------------------------------------
6/14/00 9.125 -- 800 0 800 0
--------------------------------------------------------------------------------
6/21/00 8.50 -- 2,000 0 2,000 0
--------------------------------------------------------------------------------
6/22/00 8.50 -- 24,600 0 24,600 0
--------------------------------------------------------------------------------
8
