UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D

 

Under the Securities Exchange Act of 1934

(Amendment No. 11)

 

NTN Buzztime, Inc.

 

(Name of Issuer)

 

Common Stock, par value $.005 per share

 

(Title of Class of Securities)

 

629410606

 

(CUSIP Number)

 

Jeffrey A. Berg

603 N. Indian River Drive

Suite 300

Ft. Pierce, FL 34950

(760) 438-7400

 

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

 

May 28, 2020

 

(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 that is the subject of this Schedule 13D, and is filing this schedule because of sections 240.13d-1(e), 240.13d-1(f) or 140.13d-1(g), check the following box. [  ]

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See section 240.13d-7 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 the disclosures provided in a prior cover page.

 

The information required in 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).

 

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

 

 

 

 

 

 

CUSIP No. 629410606

 

1. Names of Reporting Persons  
     
  Matador Capital Partners, L.P.  
     
     
2. Check the Appropriate Box if a Member of a Group (See Instructions)  
  (a) [  ]
  (b) [X]
     
     
3. SEC Use Only_________________________________  
     
     
4. Source of Funds (See Instructions) WC
     
     
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) ____  
     
     
6. Citizenship or Place of Organization Delaware
     

 

 

Number of

Shares

Beneficially

Owned by

Each Reporting

Person With

7. Sole Voting Power

0

     
8. Shared Voting Power 276,100
     
9.

Sole Dispositive Power

0
     
10. Shared Dispositive Power 276,100
       

 

11. Aggregate Amount Beneficially Owned by Each Reporting Person 276,100
     
     
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [  ]
     
     
13. Percent of Class Represented by Amount in Row (11) 9.40%
     
     
14. Type of Reporting Person (See Instructions) PN
     

 

Page 2

 

 

CUSIP No. 629410606

 

1. Names of Reporting Persons    
     
  BFK Investments LLC  
     
     
2. Check the Appropriate Box if a Member of a Group (See Instructions)  
  (a) [  ]
  (b) [X]
     
     
3. SEC Use Only_________________________________  
     
     
4. Source of Funds (See Instructions)   AF
     
     
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)____  
     
     
6. Citizenship or Place of Organization   Florida
     

 

 

Number of

Shares

Beneficially

Owned by

Each Reporting

Person With

7. Sole Voting Power 0
     
8. Shared Voting Power   276,100
     
9. Sole Dispositive Power   0
     
10. Shared Dispositive Power 276,100
       

 

11. Aggregate Amount Beneficially Owned by Each Reporting Person 276,100
     
     
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [  ]
     
     
13. Percent of Class Represented by Amount in Row (11) 9.40%
     
     
14. Type of Reporting Person (See Instructions) OO
     

 

Page 3

 

 

CUSIP No. 629410606

 

1. Names of Reporting Persons    
     
  Jeffrey A. Berg  
     
     
2. Check the Appropriate Box if a Member of a Group (See Instructions)  
  (a) [  ]
  (b) [X]
     
     
3. SEC Use Only_________________________________  
     
     
4. Source of Funds (See Instructions)   AF, PF
     
     
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) ____  
     
     
6. Citizenship or Place of Organization U.S.
     

 

 

Number of

Shares

Beneficially

Owned by

Each Reporting

Person With

7. Sole Voting Power   12,346
     
8. Shared Voting Power   276,100
     
9. Sole Dispositive Power   12,346
     
10. Shared Dispositive Power 276,100
     

 

11. Aggregate Amount Beneficially Owned by Each Reporting Person 288,446
     
     
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [  ]
     
     
13. Percent of Class Represented by Amount in Row (11)

9.82%

     
     
14. Type of Reporting Person (See Instructions) IN, HC
     

 

Page 4

 

 

CUSIP No. 629410606

 

Pursuant to Rule 13d-2 promulgated under the Securities Exchange Act of 1934, as amended, this Amendment No. 11 to Schedule 13D (this “Amendment No. 11”) amends the Schedule 13D originally filed with the United States Securities and Exchange Commission (the “SEC”) on September 29, 2008 (the “Original Schedule 13D”), as amended by the amendments thereto previously filed with the SEC on the dates indicated below (the Original Schedule 13D, as amended through and including this Amendment No. 11 are collectively referred to herein as the “Schedule 13D”):

 

Amendment No.   Filing Date
1   December 19, 2008
2   January 14, 2011
3   January 14, 2011
4   March 7, 2012
5   September 13, 2012
6   December 27, 2012
7   April 21, 2014
8   November 4, 2016
9   March 31, 2017
10   June 29, 2018

 

The Schedule 13D relates to the shares of Common Stock (the “Stock”) of NTN Buzztime, Inc. (the “Issuer”) owned by Matador Capital Partners, L.P. (the “Fund”), BFK Investments LLC (“BFK”), the general partner of the Fund, and Jeffrey A. Berg, the Managing Member of BFK. The Fund, BFK and Jeffrey A. Berg are collectively referred to herein as the “Reporting Persons”. Except as specifically amended by this Amendment No. 11, items in the Schedule 13D are unchanged.

 

This Amendment No. 11 reports a decrease in the Reporting Persons’ ownership of (and percentage of beneficial ownership of) the outstanding shares of Stock since the date the Reporting Persons’ last filing on Schedule 13D as a result of the Reporting Persons’ sale of 146,900 shares of Stock through June 3, 2020 as follows:

 

Date of Sale   Number of Shares Sold
     
December 20, 2019   1,700
December 23, 2019   200
May 26, 2020   20,000
May 27, 2020   5,000
May 28, 2020   12,338
May 29, 2020   25,000
June 1, 2020   30,000
June 2, 2020   30,730
June 3, 2020   21,932

 

Information in this Amendment No. 11 with respect to each of the Reporting Persons is given solely by that particular Reporting Person, and none of the other Reporting Persons has any responsibility for the accuracy or completeness of information with respect to any other Reporting Person. Capitalized terms used herein that are not defined herein have the meanings ascribed to them in the Schedule 13D.

 

Item 3. Source and Amount of Funds or Other Consideration

 

The information provided in Item 5 of this Amendment No. 11 is incorporated by reference to this Item 3.

 

Item 3 of the Schedule 13D is hereby amended and supplemented by adding the following at the end thereof:

 

In June 2017 and September 2017, Mr. Berg received 827 and 919 shares, respectively, of restricted stock awards reported in Item 5 of this Amendment No. 11 in lieu of a portion of the annual retainer earned by Mr. Berg in his capacity as a non-employee director of the issuer with respect to the quarters ended June 30, 2017 and September 30, 2017. The restricted stock grants were fully vested on the date of grant. The aggregate value of the shares issued was $11,248.

 

Item 5. Interest in Securities of the Issuer

 

Paragraphs (a), (b) and (d) of Item 5 of the Schedule 13D are hereby amended by replacing them in their entirety with the following:

 

Page 5

 

 

CUSIP No. 629410606

 

(a), (b) & (d): Each Reporting Person’s beneficial ownership of the Stock on the date of this Amendment No. 11 is reflected on that Reporting Person’s cover page of this Amendment No. 11. The percentage of shares owned by the Reporting Persons is based upon 2,936,769 shares of Stock outstanding, which is the number of shares outstanding on May 18, 2020, as reported in the Issuer’s filings with the SEC. BFK is a limited liability company and serves as the general partner of the Fund with the power to invest in, vote and dispose of the Stock on behalf the Fund. The Fund has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Stock. Only Mr. Berg as a limited partner in the Fund individually has an interest through the Fund in more than 5% of the outstanding Stock. Mr. Berg is the Managing Member of BFK and controls the investment decisions of BFK and the Fund. The Reporting Persons are filing the Schedule 13D jointly, but not as members of a group, and each of them expressly disclaims membership in a group. Each of BFK and Mr. Berg disclaims beneficial ownership of the Stock except to the extent of that Reporting Person’s pecuniary interest therein. In addition, the filing of the Schedule 13D on behalf of the Fund should not be construed as an admission that any of the other Reporting Persons is, and each of them disclaims that it is, the beneficial owner, as defined in Rule 13d-3 under the Securities Exchange Act of 1934, of any of the Stock covered by the Schedule 13D.

 

Paragraph (c) of Item 5 of the Schedule 13D is hereby amended by the addition of the following:

 

(c) The following sets forth all transactions with respect to Shares effected by the Reporting Persons since their last filing on Schedule 13D: In June 2017 and September 2017, Mr. Berg received 827 and 919 shares, respectively, of restricted stock awards reported in Item 5 of this Amendment No. 11 in lieu of a portion of the annual retainer earned by Mr. Berg in his capacity as a non-employee director of the issuer with respect to the quarters ended June 30, 2017 and September 30, 2017. The restricted stock grants were fully vested on the date of grant. The aggregate value of the shares issued was $11,248.

 

Page 6

 

 

CUSIP No. 629410606

 

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 4, 2020 MATADOR CAPITAL PARTNERS, L.P.
     
  By:  
  Name: BFK Investments LLC
  Title: General Partner
     
  By: /s/ Jeffrey A. Berg
  Name: Jeffrey A. Berg
  Title: Managing Member
     
Dated: June 4, 2020 BFK INVESTMENTS LLC
     
  By: /s/ Jeffrey A. Berg
  Name: Jeffrey A. Berg
  Title: Managing Member
     
Dated: June 4, 2020 JEFFREY A. BERG
     
    /s/ Jeffrey A. Berg
    Jeffrey A. Berg

 

The original statement shall be signed by each person on whose behalf the statement is filed or his authorized representative. If the statement is signed on behalf of a person by his authorized representative (other than an executive officer or general partner of the filing person), evidence of the representative’s authority to sign on behalf of such person shall be filed with the statement: provided, however, that a power of attorney for this purpose which is already on file with the Commission may be incorporated by reference. The name and any title of each person who signs the statement shall be typed or printed beneath his signature.

 

Page 7

 

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