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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 4)*
Murdock Communications Corporation
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(Name of Issuer)
Common Stock, no par value
---------------------------------
(Title of Class of Securities)
62647W108
--------------------
(CUSIP Number)
Thomas J. Berthel Copy to: Michael K. Denney
100 Second Street S.E. Bradley & Riley, P.C.
Cedar Rapids, Iowa 52407-4250 100 1st St. S.W.
(319) 365-2506 Cedar Rapids, IA 52404
(319) 363-0101
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
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June 19, 1998
-------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement of 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 [ ].
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).
CUSIP No. 62647W108
(Continued on following pages)
Exhibit Index Appears on Page 5. Page 1 of 9 Pages
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CUSIP No. 62647W108
- --------------------------------------------------------------------------------
1) Names of Reporting Persons
S.S or I.R.S. Identification nos. of Above Persons
BERTHEL FISHER & COMPANY 42-1254805
- --------------------------------------------------------------------------------
2) Check the Appropriate Box if a Member of a Group (See Instructions) a) X
---
b)
---
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3) SEC Use Only
- --------------------------------------------------------------------------------
4) Source of Funds (See Instructions)
BK, OO
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5) Check 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
IOWA
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7) Sole Voting Power
188,571
NUMBER OF ------------------------------------------------
SHARES 8) Shared Voting Power
BENEFICIALLY 1,732,875
OWNED BY EACH ------------------------------------------------
REPORTING 9) Sole Dispositive Power
PERSON WITH 188,571
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10) Shared Dispositive Power
1,732,875
- --------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by Each Reporting Person 1,921,446
- --------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (1) Excludes Certain Shares (See
Instructions) ___
- --------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11) 30.3%
- --------------------------------------------------------------------------------
14) Type of Reporting Persons (See Instructions)
CO
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Page 2 of 9
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CUSIP No. 62647W108
- --------------------------------------------------------------------------------
1) Names of Reporting Persons
S.S or I.R.S. Identification nos. of Above Persons
BERTHEL FISHER & COMPANY 42-1029773
- --------------------------------------------------------------------------------
2) Check the Appropriate Box if a Member of a Group (See Instructions) a) x
---
b)
---
- --------------------------------------------------------------------------------
3) SEC Use Only
- --------------------------------------------------------------------------------
4) Source of Funds (See Instructions)
OO, WC
- --------------------------------------------------------------------------------
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e) ___
- --------------------------------------------------------------------------------
6) Citizenship or Place of Organization
IOWA
- --------------------------------------------------------------------------------
7) Sole Voting Power
NONE
NUMBER OF ------------------------------------------------
SHARES 8) Shared Voting Power
BENEFICIALLY 129,558
OWNED BY EACH ------------------------------------------------
REPORTING 9) Sole Dispositive Power
PERSON WITH NONE
------------------------------------------------
10) Shared Dispositive Power
129,558
- --------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by Each Reporting Person 129,558
- --------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (1) Excludes Certain Shares (See
Instructions) ___
- --------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11) 2.6%
- --------------------------------------------------------------------------------
14) Type of Reporting Persons (See Instructions)
CO
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Page 3 of 9
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ITEM 2. IDENTITY AND BACKGROUND.
Item 2 is amended by adding the following information:
This statement is being filed jointly by (a) Berthel Fisher & Company
Leasing , Inc. ("Leasing"), (b) Berthel Fisher & Company Investments, Inc.
("Investments"), (c) Berthel Fisher & Company Financial Services, Inc.
("Financial Services"), (d) T.J. Berthel Investments, L.P., an Iowa limited
partnership ("Investment L.P."), (e) T.J. Berthel Enterprises, Inc.
("Enterprises"), (f) Berthel Fisher & Company ("BFC"), (g) Telecommunications
Income Fund IX, L.P. ("TIFIX"), (h) Telecommunications Income Fund X, L.P.
("TIFX") and (i) Thomas J. Berthel ("Mr. Berthel"). Leasing, Investments,
Financial Services, Investments L.P., Enterprises, BFC, TIFIX, TIFX and Mr.
Berthel are referred to herein as the "Reporting Persons."
During the past five years, none of the Reporting Persons, and, to the
best knowledge of the Reporting Persons, none of the Other Officers and
Directors, has been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors), and none of them has been a party to a
civil proceeding of a judicial or administrative body of competent jurisdiction
and as a result of such proceeding was or is subject to a judgment, decree or
final order enjoining future violations of, or prohibiting or mandating
activities subject to, federal or state securities laws or finding any
violation with respect to such laws.
Each of the Reporting Persons who is a natural person and each of the
Other Officers and Directors is a United States citizen.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Item 3 is amended by adding the following information:
Financial Services
On June 19, 1998, the Issuer issued and delivered to Financial
Services warrants for 68,600 shares of common stock of the Issuer, exercisable
by Financial Services at $1.75 per share. The warrants are exercisable for a
period of three years beginning June 30, 1998. The warrants were issued to
Financial Services as consideration for closing the private placement of
$686,000 of the Issuer's securities in an offering to accredited investors.
The Issuer also paid a cash commission of 7% and a one percent placement fee in
connection with the offering.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5 is amended by adding the following information:
Financial Services
As of June 19, 1998, the aggregate number of shares of the Issuer
beneficially owned by Financial Services was 129,558. Financial Services owns
in its name 7,958 shares of common stock and warrants for 121,600 shares of
common stock of the Issuer. Financial
Page 4 of 9
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Services shares with BFC the power to vote or to direct the vote and the power
to dispose or to direct the disposition of all of the shares of common stock
and all warrants for shares of common stock owned by Financial Services. As of
June 19, 1998, the 129,558 shares beneficially owned by Financial Services,
including the shares to be issued upon exercise of warrants, constitute
approximately 2.6% of the total number of shares of the common stock of the
Issuer outstanding as of March 31, 1998. Because BFC is a controlling person
of Financial Services, BFC and Financial Services have the shared power to vote
or to direct the vote and the shared power to dispose or to direct the
disposition of all of the shares owned by Financial Services.
Within the last sixty days, warrants for 121,100 shares of common stock of
the Issuer were issued to Financial Services in consideration of Financial
Services' participation in the private placement of securities of the Issuer in
the amount of $686,000. All of the warrants issued to Financial Services
within the last sixty days are exercisable for $1.75 per share.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Beginning
at
Page:
A Joint filing Agreement, dated June 22, 1998,
between the Reporting Persons relating to the
filing of a joint statement on Schedule 13D. 8
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SIGNATURES
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 22, 1998 T.J. BERTHEL INVESTMENT, L.P.
By: T.J. BERTHEL ENTERPRISES, INC.
General Partner
By: /s/
-----------------------------------
THOMAS J. BERTHEL, President
BERTHEL FISHER & COMPANY FINANCIAL
SERVICES, INC.
By: /s/
-----------------------------------
THOMAS J. BERTHEL, Chief Executive
Officer
BERTHEL FISHER & COMPANY LEASING, INC.
By: /s/
-----------------------------------
THOMAS J. BERTHEL, President
BERTHEL FISHER & COMPANY
INVESTMENTS, INC.
By: /s/
-----------------------------------
THOMAS J. BERTHEL, Chief Executive
Officer
BERTHEL FISHER & COMPANY
By: /s/
-----------------------------------
THOMAS J. BERTHEL, President
/s/
--------------------------------------
THOMAS J. BERTHEL
T. J. BERTHEL ENTERPRISES, INC.
By: /s/
-----------------------------------
THOMAS J. BERTHEL, President
TELECOMMUNICATIONS INCOME FUND IX, L.P.
By: BERTHEL FISHER & COMPANY LEASING, INC.
General Partner
By: /s/
-----------------------------------
THOMAS J. BERTHEL, President
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TELECOMMUNICATIONS INCOME FUND IX, L.P.
By: BERTHEL FISHER & COMPANY LEASING, INC.
General Partner
By: /s/
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THOMAS J. BERTHEL, President
Attention: Intentional misstatements or omissions of fact constitute
Federal criminal violations (See 18 U.S.C. 1001).
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EXHIBIT A
JOINT FILING AGREEMENT
----------------------
We, the signatories of the statement on Schedule 13D to which this
Agreement is attached, hereby agree that such statement is filed on behalf of
each of us.
Dated: June 22, 1998 T.J. BERTHEL INVESTMENT, L.P.
By: T.J. BERTHEL ENTERPRISES, INC.
General Partner
By: /s/
--------------------------------------
THOMAS J. BERTHEL, President
BERTHEL FISHER & COMPANY FINANCIAL
SERVICES, INC.
By: /s/
--------------------------------------
THOMAS J. BERTHEL, President
BERTHEL FISHER & COMPANY LEASING, INC.
By: /s/
--------------------------------------
THOMAS J. BERTHEL, President
BERTHEL FISHER & COMPANY
INVESTMENTS, INC.
By: /s/
--------------------------------------
THOMAS J. BERTHEL, President
BERTHEL FISHER & COMPANY
By: /s/
--------------------------------------
THOMAS J. BERTHEL, President
/s/
-----------------------------------------
THOMAS J. BERTHEL, President
T.J. BERTHEL ENTERPRISES, INC.
By: /s/
--------------------------------------
THOMAS J. BERTHEL, President
Page 8 of 9
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TELECOMMUNICATIONS INCOME FUND IX, L.P.
By: BERTHEL FISHER & COMPANY LEASING, INC.
General Partner
By:/s/
---------------------------------------
THOMAS J. BERTHEL, President
TELECOMMUNICATIONS INCOME FUND IX, L.P.
By: BERTHEL FISHER & COMPANY LEASING, INC.
General Partner
By:/s/
---------------------------------------
THOMAS J. BERTHEL, President
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