This Amendment No. 17 (
Amendment No. 17
) amends and supplements the statement on Schedule 13D filed by Steven N. Bronson (
Mr. Bronson
), BKF Capital Group, Inc. (
BKF Capital
) and BKF Asset Holdings, Inc. (
BKF AH
and together with Mr. Bronson and BKF Capital, the
Reporting Persons
) on January 3, 2011, as amended and supplemented through the date hereof (as so amended and supplemented, the
Schedule 13D
), with respect to the shares of common stock, no par value per share (the
Common Stock
) of Qualstar Corporation, a California corporation, with its principal offices located at 130 West Cochran Street, Unit C, Simi Valley, CA 93065 (the
Issuer
or
Qualstar
). Except as expressly amended by this Amendment No. 17, the Schedule 13D remains in full force and effect.
The purpose of this Amendment No. 17 is to report an increase in the percentage of the Reporting Persons beneficial ownership of shares of Common Stock as a result of certain purchases of shares of Common Stock made by BKF AH, as described in this Amendment No. 17.
Item 1. Security and Issuer.
This Schedule 13D relates to the Common Stock of Qualstar Corporation, a California corporation, with its principal offices located at 130 West Cochran Street, Unit C, Simi Valley, CA 93065.
Item 2. Identity and Background.
(a) This Amendment No. 17 is filed on behalf of Mr. Bronson, BKF Capital and BKF AH.
(b) The business address of Mr. Bronson, BKF Capital and BKF AH is 31248 Oak Crest Drive, Suite 110, Westlake Village, CA 91361.
(c) Mr. Bronson is the CEO of Qualstar. Mr. Bronson is also the Chairman, CEO and majority shareholder of BKF Capital. BKF AH is a wholly owned subsidiary of BKF Capital.
(d) During the last five years Mr. Bronson, BKF Capital and BKF AH have not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e) During the last five years, Mr. Bronson, BKF Capital and BKF AH have not 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 further violations of, or prohibiting or mandating activities subject to the federal or state securities laws or finding any violation with respect to such laws.
(f) Mr. Bronson is a citizen of the United States of America. BKF Capital and BKF AH are organized under the laws of the State of Delaware.
Item 3. Source and Amount of Funds or Other Consideration.
From May 13, 2019 through May 31, 2019, BKF AH acquired an aggregate of 51,915 shares of Common Stock in open market transactions using its corporate funds. These transactions were made at an average purchase price of $5.3982 per share for an aggregate amount of $280,249. The information set forth in Item 5(c) is herein incorporated by reference.
Item 4. Purpose of Transaction.
The Reporting Persons acquired the securities of the Issuer for investment purposes and may make further purchases or sales of shares of Common Stock through open market or privately negotiated transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable.
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Item 5. Interest in Securities of the Issuer.
(a) BKF AH beneficially owns an aggregate of 600,000 shares of Common Stock, all of which are held directly by BKH AH, representing approximately 31.0% of the total shares of Common Stock deemed outstanding. BKF Capital beneficially owns an aggregate of 600,000 shares of Common Stock, all of which are held indirectly through BKF AH, representing approximately 31.0% of the total shares of Common Stock deemed outstanding. Mr. Bronson is the Chairman, CEO and majority shareholder of BKF Capital and thus may be deemed to be the beneficial owner of the shares of Common Stock held by BKF Capital. Mr. Bronson beneficially owns an additional 141,284 shares of Common Stock (which consists of 24,617 shares of Common Stock, 10,000 of which are held by Mr. Bronsons spouse, and fully-vested options to acquire 116,667 shares of Common Stock). Accordingly, Mr. Bronson may be deemed to beneficially own an aggregate of 741,284 shares of Common Stock, representing approximately 38.3% of the total shares of Common Stock deemed outstanding.
(b) The information set forth in rows 7 through 10 of the cover pages attached hereto are incorporated herein by reference.
(c) The following open market transactions were effected by BKF AH during the past sixty (60) days:
Trade Date
|
|
Buy/Sell
|
|
Number of Shares
|
|
Price Per Share ($)
|
|
05/13/2019
|
|
Buy
|
|
13,187
|
|
4.6903
|
|
05/14/2019
|
|
Buy
|
|
1,400
|
|
4.7958
|
|
05/15/2019
|
|
Buy
|
|
4,607
|
|
5.0818
|
|
05/16/2019
|
|
Buy
|
|
2,699
|
|
5.447
|
|
05/17/2019
|
|
Buy
|
|
9,082
|
|
5.6071
|
|
05/20/2019
|
|
Buy
|
|
6,122
|
|
5.726
|
|
05/21/2019
|
|
Buy
|
|
99
|
|
5.75
|
|
05/23/2019
|
|
Buy
|
|
1,310
|
|
5.7232
|
|
05/28/2019
|
|
Buy
|
|
6,951
|
|
5.8959
|
|
05/30/2019
|
|
Buy
|
|
2,500
|
|
6.003
|
|
05/31/2019
|
|
Buy
|
|
3,958
|
|
5.9463
|
|
(d) Not applicable.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.
Not applicable.
Item 7.
Material to be Filed as Exhibits.
Not applicable.
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