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- ------------ U.S. SECURITIES AND EXCHANGED COMMISSION -----------------------------
FORM 4 Washington, D.C. 20549 | OMB APPROVAL |
- ------------ -----------------------------
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP | OMB Number 3235-0287|
Filed pursuant to Section 16(a) of the Securities Exchanged Act | Expires: September 30, 1998|
[ ] Check this box if of 1934, Section 17(a) of the Public Utility Holding Company | Estimated ave. burden |
no longer subject Act of 1935 or Section 30(f) of the Investment Company Act 1940 | hours per response. . . 0.5|
to Section 16. -----------------------------
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<C> <C> <C>
| 1.Name and Address of Reporting Person| 2.Issuer Name and Ticker or Trading Symbol| 6. Relatingship of Reporting Person |
| | | to Issuer (Check all Applicable)|
| | | |
| | | X |
| WisdomTree Associates, L.P. | Country Star Restaurants, Inc. : CAFE | ---Director ---10% Owner |
| | | |
| | | ---Officer ---Other |
| | | (give title (Specify |
|-----------------------------------------------------------------------------------| below) below) |
| (Last) (First) (MI) |3.IRS or Soc. Sec. No.|4. Statement for | |
| | of Reporting Person | Month/Year | |
| | (Voluntary) | | |
| 1633 Broadway, 38th Fl. | | 11/96 | |
| | | | |
|---------------------------------------| |--------------------|-------------------------------------|
| (Street) | |5.If Amendment, Date|7. Individual or Joint/Group Filing |
| | | Original (Month/ | (Check Applicable Line) |
| | | Year) | |
| New York, NY 10019 | 13-37294230 | |---Form filed by One Reporting Person|
| | | | X |
| | | |---Form filed by More than One |
| | | | Reporting Person |
|-------------------------------------------------------------------------------------------------------------------------|
| (City) (State) (Zip) |
| TABLE I - Non-Derivative Securities Acquired, Disposed of or Beneficially Owned |
|-------------------------------------------------------------------------------------------------------------------------|
|1.Title of Security |2.Trannsac- |3.Trans. |4.Security Acquired (A) or |5.Amount of |6. |7.Nature of Indirect|
| (Instr. 3) | tion Date | Code | Disposed of (D) | Securities |Own.| Beneficial |
| |(Mon/Day/Yr) |(Instr.8)| (Instr. 3, 4, & 5) | Beneficially|Form| Ownership |
| | |---------|---------------------------| Owned at End|(D) | (Instr. 4) |
| | | | | |(A)| | of Month | or | |
| | |Code| V | Amount |(D)| Price | (Instr.3 & 4)|(I) | |
|----------------------------|-------------|----|----|------------|---|----------|--------------|----|--------------------|
| | | | | | | | | | |
| Common Stock | 11/21/96 | S | | 7,500 |(D)| .88 | | (D)| |
| | | | | | | | | | |
|----------------------------|-------------|----|----|------------|---|----------|--------------|----|--------------------|
| | | | | | | | | | |
| Common Stock | 11/26/96 | S | | 14,886 |(D)| .53 | 66,667* | (D)| |
| | | | | | | | | | |
|----------------------------|-------------|----|----|------------|---|----------|--------------|----|--------------------|
| | | | | | | | | | |
| | | | | | | | | | |
| | | | | | | | | | |
|----------------------------|-------------|----|----|------------|---|----------|--------------|----|--------------------|
| | | | | | | | | | |
| | | | | | | | | | |
| | | | | | | | | | |
|----------------------------|-------------|----|----|------------|---|----------|--------------|----|--------------------|
| | | | | | | | | | |
| | | | | | | | | | |
| | | | | | | | | | |
|----------------------------|-------------|----|----|------------|---|----------|--------------|----|--------------------|
| | | | | | | | | | |
| | | | | | | | | | |
| | | | | | | | | | |
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Reminder: Report on a separate line for each class securities owned directly or indirectly. SEC 1474 (7-96)
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FORM 4 (Continued) TABLE II - Derivative Securities
Acquired, Disposed of, Beneficially Owned (e.g.,
puts, calls, warrants, options, convertible
security)
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<C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
|1.Title of|2.Conver-|3. |4.Tran- |5.Number of |6.Date |7.Title and Amount|8.Price of |9.Number |10. |11.Nature |
|Derivative|sion or |Trans| Saction| Derivative |Exercis- | of Underlying |Derivative | of |Own.| of |
|Security |Exercise |Date | Code | Securities |and | Securities |Security |Derivative|Form| Indirect |
|(Instr. 3.|Price of |(Mon/|(Instr.8| Acquired (A)|Expiration| (Instr. 3 & 4) |(Instr. 5) |Securities|of | Beneficial|
| |Deriva- | Day/| | or Disposed |Date | | |Benefi- |Deri| Ownership |
| |tive |Year)| |(Instr. 3,4 &5|(Month/Day| | |cially |Sec.| (Instr. 4) |
| |Security | | | | Year) | | |Owned at |Dir.| |
| | | | | |----------|------------------| |End of |(D) | |
| | | | | | | | |Amount or| |Month | or | |
| | | |--------|--------------|Date |Exp.| Title |Number of| |(Instr. 4)|Ind.| |
| | | |Code| V | (A) | (D) |Exbl.|Date| |Shares | | |(I) | |
|----------|---------|-----|----|---|------|-------|-----|----|--------|---------|-----------|----------|----|------------|
| | | | | | | | | | | | | | | |
| Series A | $2.00 |11/21| S | | | 5,000 | 2/8 |5/10| Common | 30,000 | $4.65 | |(D) | |
| Preferred| | /96| | | | | /96| /97| Stock | | | | | |
|----------|---------|-----|----|---|------|-------|-----|----|--------|---------|-----------|----------|----|------------|
| | | | | | | | | | | | | | | |
| Series A | $2.00 |11/21| S | | | 1,000 | 2/8 |5/10| Common | 6,000 | $4.70 | |(D) | |
| Preferred| | /96| | | | | /96| /97| Stock | | | | | |
|----------|---------|-----|----|---|------|-------|-----|----|--------|---------|-----------|----------|----|------------|
| | | | | | | | | | | | | | | |
| Series A | $2.00 |11/25| S | | | 2,500 | 2/8 |5/10| Common | 15,000 | $4.45 | 121,500 |(D) | |
| Preferred| | /96| | | | | /96| /97| Stock | | | | | |
|----------|---------|-----|----|---|------|-------|-----|----|--------|---------|-----------|----------|----|------------|
| | | | | | | | | | | | | | | |
| Warrants | $3.00 | | | | | | | | Common | | | 33,334* |(D) | |
| | | | | | | | | | Stock | | | | | |
|----------|---------|-----|----|---|------|-------|-----|----|--------|---------|-----------|----------|----|------------|
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
|----------|---------|-----|----|---|------|-------|-----|----|--------|---------|-----------|----------|----|------------|
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
|----------|---------|-----|----|---|------|-------|-----|----|--------|---------|-----------|----------|----|------------|
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
|----------|---------|-----|----|---|------|-------|-----|----|--------|---------|-----------|----------|----|------------|
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
- ---------------------------------------------------------------------------------------------------------------------------
*Explanation of Response:
SEE ATTACHED EXPLANATION OF RESPONSES
**Intentional misstatements or omissions of facts constitute Federal /s/ Scot A. Rosenblum 12/12/96
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). --------------------------- --------
**Signature of Reporting Person Date
Note: File threee copies of this form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure. Scot A. Rosenblum
Vice President of WisdomTree Capital
Management, Inc., General Partner
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EXHIBIT 1.0
FORM 4 - ATTACHMENT
WISDOMTREE ASSOCIATES, L.P.
SERIES A - 6% CONVERTIBLE PREFERRED STOCK
COUNTRY STAR RESTAURANTS, INC.
EXPLANATION OF RESPONSES
The Reporting Person is WisdomTree Associates, L.P., which has direct beneficial
ownership of in excess of 10% of the outstanding Series A - 6% Convertible
Preferred Stock of the Issuer. As at the end of November 1996, the Reporting
Person owned 66,667 shares of the Common Stock, 33,334 Warrants to purchase an
additional 33,334 shares of the Common Stock, and 121,500 shares of the
Preferred Stock of the Issuer (with rights to convert such Preferred Stock into
729,000 shares of the Common Stock of the Issuer). WisdomTreee Capital
Management, Inc. is the General Partner of the Reporting Person and thereby may
be deemed to have indirect beneficial ownership of the Issuer's securities owned
by the Reporting Person; however, WisdomTree Capital Management, Inc. disclaims
beneficial ownership of such securities. WisdomTree Capital Management, Inc. is
also the Investment Manager of WisdomTree Offshore, Ltd., an offshore investment
vehicle which had, as at the end of November 1996, direct and beneficial
ownership of 66,667 shares of the Common Stock and 33,334 Warrants to purchase
an additional 33,334 shares of the Common Stock of the Issuer. WisdomTree
Capital Management, Inc. may be deemed to have indirect beneficial ownership of
the Issuer's securities owned by WisdomTree Offshore, Ltd.; however, WisdomTree
Capital Management, Inc. disclaims beneficial ownership of such securities. The
Reporting Person also disclaims beneficial ownership of any and all securities
owned by WisdomTree Offshore, Ltd. WisdomTree Capital Management, Inc. is a
wholly-owned subsidiary of Individual Invertor Group, Inc. which may thereby be
deemed to be the indirect beneficial owner of the securities of the Issuer owned
by each of the Reporting Person and WisdomTree Offshore, Ltd.; however,
Individual Investor Group, Inc. disclaims beneficial ownership of such
securities. Jonathan L. Steinberg is the chairman and Chief Executive Officer of
each of Individual Investor Group, Inc. and the WisdomTree Capital Management,
Inc. and may be deemed thereby to have indirect beneficial ownership of the
Issuer's securities owned by each of the Reporting Person and/or WisdomTree
Offshore, Ltd.; however, Mr. Steinberg disclaims beneficial ownership of such
securities. Mr. Steinberg is also a Limited Partner of the Reporting Person and
may thereby be deemed to have beneficial ownership of that portion of the
securities beneficially owned by the reporting Person corresponding to Mr.
Steinberg's interest as a Limited Partner therein.
