-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, JPo0j3Mr93JJCx7eCSLqAWdxgocBxONbX3BZlv9U4S++o4ErfMflYFZsZwInKS0o vyss9EwSVXWr9gfWqfmpkg== 0000935836-98-000239.txt : 19990101 0000935836-98-000239.hdr.sgml : 19990101 ACCESSION NUMBER: 0000935836-98-000239 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19981231 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: KUSHNER LOCKE CO CENTRAL INDEX KEY: 0000842009 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MOTION PICTURE & VIDEO TAPE PRODUCTION [7812] IRS NUMBER: 954079057 STATE OF INCORPORATION: CA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-39919 FILM NUMBER: 98779578 BUSINESS ADDRESS: STREET 1: 11601 WILSHIRE BLVD 21ST FLR CITY: LOS ANGELES STATE: CA ZIP: 95202 BUSINESS PHONE: 3104812000 MAIL ADDRESS: STREET 1: 11601 WILSHIRE BLVD STREET 2: 21ST FLOOR CITY: LOS ANGELES STATE: CA ZIP: 90025 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: GRUBER & MCBAINE CAPITAL MANAGEMENT LLC CENTRAL INDEX KEY: 0000909450 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 50 OSGOOD PLACE PENTHOUSE CITY: SAN FRANCISCO STATE: CA ZIP: 94133 BUSINESS PHONE: 4159811039 MAIL ADDRESS: STREET 1: 50 OSGOOD PLACE CITY: SAN FRANCISCO STATE: CA ZIP: 94133 FORMER COMPANY: FORMER CONFORMED NAME: GRUBER & MCBAINE CAPITAL MANAGEMENT/GRUBER JON D ET AL DATE OF NAME CHANGE: 19951108 FORMER COMPANY: FORMER CONFORMED NAME: GRUBER & MCBAINE CAPITAL MANAGEMENT/GRUBER JON D ET AL DATE OF NAME CHANGE: 19930720 SC 13D 1 OMB APPROVAL OMB Number:3235-0145 Expires:December 31, 1997 Estimated average burden hours per form 14.90 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. *) * Kushner Locke Company * - ------------------------------------------------------------------ - --------- Common Stock * 501337109 * Gruber & McBaine Capital Management Elizabeth D. Giorgis 50 Osgood Place, Penthouse San Francisco, CA 94133 (415) 981-1039 - ------------------------------------------------------------------ - --------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) * August 12, 1998 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 schedule because of Rule 13d- 1(b)(3) or (4), check the following box / /. Check the following box if a fee is being paid with the statement / /. (A fee is not required only if the reporting person: (1) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described in Item 1; and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class.) (See Rule 13d-7.) 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). SEC 1746 (12-91) [2] SCHEDULE 13D CUSIP No. 501337109 Page 2 of 15 Pages - ------------------------------------------------------------------ - --------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON GRUBER & McBAINE CAPITAL MANAGEMENT, LLC - ------------------------------------------------------------------ - --------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) / / - ------------------------------------------------------------------ - --------- 3 SEC USE ONLY - ------------------------------------------------------------------ - --------- 4 SOURCE OF FUNDS* AF - ------------------------------------------------------------------ - --------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E)/ / - ------------------------------------------------------------------ - --------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION CALIFORNIA - ------------------------------------------------------------------ - --------- NUMBER OF 7 SOLE VOTING POWER SHARES 0 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 806,750 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 0 - -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 806,750 - ------------------------------------------------------------------ - --------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 806,750 - ------------------------------------------------------------------ - --------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - ------------------------------------------------------------------ - --------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.63 - ------------------------------------------------------------------ - --------- 14 TYPE OF REPORTING PERSON* OO - ------------------------------------------------------------------ - --------- *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. [3] SCHEDULE 13D CUSIP No. 501337109 Page 3 of 15 Pages - ------------------------------------------------------------------ - --------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON JON D. GRUBER - ------------------------------------------------------------------ - --------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) / / - ------------------------------------------------------------------ - --------- 3 SEC USE ONLY - ------------------------------------------------------------------ - --------- 4 SOURCE OF FUNDS* AF, PF - ------------------------------------------------------------------ - --------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E)/ / - ------------------------------------------------------------------ - --------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES - ------------------------------------------------------------------ - --------- NUMBER OF 7 SOLE VOTING POWER SHARES 80,300 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 806,750 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 80,300 - -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 806,750 - ------------------------------------------------------------------ - --------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 887,050 - ------------------------------------------------------------------ - --------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - ------------------------------------------------------------------ - --------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.49 - ------------------------------------------------------------------ - --------- 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. [4] SCHEDULE 13D CUSIP No. 501337109 Page 4 of 15 Pages - ------------------------------------------------------------------ - --------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON J. PATTERSON MCBAINE - ------------------------------------------------------------------ - --------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) / / - ------------------------------------------------------------------ - --------- 3 SEC USE ONLY - ------------------------------------------------------------------ - --------- 4 SOURCE OF FUNDS* AF, PF - ------------------------------------------------------------------ - --------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E)/ / - ------------------------------------------------------------------ - --------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES - ------------------------------------------------------------------ - --------- NUMBER OF 7 SOLE VOTING POWER SHARES 124,950 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 806,750 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 124,950 - -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 806,750 - ------------------------------------------------------------------ - --------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 931,700 - ------------------------------------------------------------------ - --------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - ------------------------------------------------------------------ - --------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.96 - ------------------------------------------------------------------ - --------- 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. [5] SCHEDULE 13D CUSIP No. 501337109 Page 5 of 15 Pages - ------------------------------------------------------------------ - --------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON THOMAS O. LLOYD-BUTLER - ------------------------------------------------------------------ - --------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) / / - ------------------------------------------------------------------ - --------- 3 SEC USE ONLY - ------------------------------------------------------------------ - --------- 4 SOURCE OF FUNDS* AF - ------------------------------------------------------------------ - --------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E)/ / - ------------------------------------------------------------------ - --------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES - ------------------------------------------------------------------ - --------- NUMBER OF 7 SOLE VOTING POWER SHARES 0 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 806,750 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 0 - -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 806,750 - ------------------------------------------------------------------ - --------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 806,750 - ------------------------------------------------------------------ - --------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - ------------------------------------------------------------------ - --------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.63 - ------------------------------------------------------------------ - --------- 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. [6] SCHEDULE 13D CUSIP No. 501337109 Page 6 of 15 Pages - ------------------------------------------------------------------ - --------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON LAGUNITAS PARTNERS, A California Limited Partnership - ------------------------------------------------------------------ - --------- 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 ITEMS 2(d) or 2(E)/ / - ------------------------------------------------------------------ - --------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION CALIFORNIA - ------------------------------------------------------------------ - --------- NUMBER OF 7 SOLE VOTING POWER SHARES 0 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 268,150 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 0 - -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 268,150 - ------------------------------------------------------------------ - --------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 268,150 - ------------------------------------------------------------------ - --------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - ------------------------------------------------------------------ - --------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.87 - ------------------------------------------------------------------ - --------- 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. [7] SCHEDULE 13D CUSIP No. 501337109 Page 7 of 15 Pages - ------------------------------------------------------------------ - --------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON GMJ INVESTMENTS, A California Limited Partnership - ------------------------------------------------------------------ - --------- 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 ITEMS 2(d) or 2(E)/ / - ------------------------------------------------------------------ - --------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION CALIFORNIA - ------------------------------------------------------------------ - --------- NUMBER OF 7 SOLE VOTING POWER SHARES 0 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 5,000 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 0 - -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 5,000 - ------------------------------------------------------------------ - --------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,000 - ------------------------------------------------------------------ - --------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - ------------------------------------------------------------------ - --------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.05 - ------------------------------------------------------------------ - --------- 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. SCHEDULE 13D CUSIP No. 501337109 Page 8 of 15 Pages ITEM 1. SECURITY AND ISSUER. This statement relates to shares of Common Stock (the "Stock") of Kushner Locke Company ("KLOC"). The principal executive office of KLOC is located at 11601 Wilshire Boulevard, 21st Floor, Los Angeles, CA 90025. ITEM 2. IDENTITY AND BACKGROUND. The persons filing this statement and the persons enumerated in Instruction C of Schedule 13D and, where applicable, their respective places of organization, general partners, directors, executive officers and controlling persons, and the information regarding them, are as follows: (a) Gruber and McBaine Capital Management, L.L.C. (LLC); Jon D. Gruber (Gruber); J. Patterson McBaine (McBaine); Thomas O. Lloyd- Butler (TLB); Lagunitas Partners, L.P., a California limited partnership (Lag); GMJ Investments, L.P., a California limited partnership (GMJ). (b) The business address of LLC, Gruber, McBaine, TLB, Lag and GMJ is 50 Osgood Place, Penthouse, San Francisco, CA 94133. (c) LLC is an investment adviser. Gruber and McBaine are the Managers of LLC and TLB is a member of LLC. Lag and GMJ are investment limited partnerships. LLC is the general partner of Lag and GMJ. (d) During the last five years, none of such persons has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) During the last five years, none of such persons was 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. (f) All such persons are citizens of the United States of America. SCHEDULE 13D CUSIP No. 501337109 Page 9 of 15 Pages ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. The source and amount of funds used in purchasing the Stock were as follows: Purchaser Source of Funds Amount LLC Capital Under Management $2,720,133 Gruber Personal Funds $319,050 McBaine Personal Funds $617,568 Lag Working Capital $1,084,419 GMJ Working Capital $14,219 ITEM 4. PURPOSE OF TRANSACTION. The sole purpose of the purchase of the Stock reported herein was and is for investment. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. The beneficial ownership of the Stock of the persons named in Item 2 of this statement is as follows at the date hereof: Aggregate Beneficially Owned Voting Power Dispositive Power Name Number Percent Sole Shared Sole Shared Lag 268,150 2.87 0 268,150 0 268,150 LLC 806,750 8.63 0 806,750 0 806,750 GMJ 5,000 0.05 0 5,000 0 5,000 Gruber887,050 9.49 80,300 806,750 80,300 806,750 McBaine931,700 9.96 124,950 806,750 124,950 806,750 TLB 806,750 8.63 0 806,750 0 806,750 Note: In addition to the shares reported, 40,000 shares are owned by an investment advisory client of LLC over which LLC does not have voting or dispositive power. Therefore, LLC disclaims beneficial ownership with respect to those shares. The persons filing this statement effected the following transactions in the Stock on the dates indicated, and such transactions are the only transactions in the Stock by the persons filing this statement since 5/29/98: SCHEDULE 13D CUSIP No. 501337109 Page 10 of 15 Pages Purchase Number Price Broker Name or Sale Date of Shares Per Share Used McBaine P 12/9/98 3000 5.05 MONT LLC P 11/30/98 147000 6.99 SASI Gruber P 11/30/98 5000 6.99 SASI McBaine P 11/30/98 20000 6.99 SASI Lag P 11/27/98 20000 6.61 SASI LLC P 11/27/98 85900 6.61 SASI McBaine P 11/27/98 19100 6.61 SASI Lag P 11/25/98 5500 5.00 SHWD McBaine P 11/25/98 2000 5.00 SHWD Gruber P 11/25/98 4000 5.00 SHWD LLC P 11/25/98 7200 5.00 SHWD McBaine P 11/25/98 5000 5.92 MONT Lag P 11/25/98 2500 4.78 HRZG Gruber P 11/25/98 3500 4.78 HRZG McBaine P 11/25/98 2000 4.78 HRZG LLC P 11/25/98 2000 4.78 HRZG Lag P 11/24/98 2000 4.23 HRZG LLC P 11/24/98 6000 4.23 HRZG McBaine P 11/24/98 2000 4.23 HRZG Lag P 11/23/98 2000 3.97 CHAS McBaine P 11/23/98 500 3.97 CHAS LLC P 11/23/98 2500 3.97 CHAS Gruber P 11/23/98 2000 3.96 INCA McBaine P 11/23/98 1000 3.96 INCA LLC P 11/23/98 5000 3.96 INCA Lag P 11/20/98 2500 4.02 INCA LLC P 11/20/98 2500 4.02 INCA Lag P 11/19/98 1700 3.25 NITE Gruber P 11/19/98 1000 3.25 NITE McBaine P 11/19/98 300 3.25 NITE LLC P 11/19/98 2000 3.25 NITE McBaine P 11/19/98 5000 3.44 MONT McBaine P 11/19/98 300 3.19 SHWD Gruber P 11/19/98 2700 3.19 SHWD Lag P 11/18/98 2000 3.00 INCA LLC P 11/18/98 5000 3.00 INCA McBaine P 11/18/98 1000 3.00 INCA Lag P 11/17/98 5000 3.22 USCT Gruber P 11/17/98 3300 3.22 USCT McBaine P 11/17/98 1700 3.22 USCT LLC P 11/17/98 5500 3.19 NITE Gruber P 11/17/98 1500 3.19 NITE Lag P 8/14/98 18000 4.91 CRUT LLC P 8/14/98 22500 4.91 CRUT McBaine P 8/14/98 13000 4.91 CRUT Gruber P 8/14/98 6500 4.91 CRUT Lag P 8/13/98 20500 4.55 CRUT LLC P 8/13/98 16000 4.55 CRUT McBaine P 8/13/98 5000 4.55 CRUT Gruber P 8/13/98 3500 4.55 CRUT SCHEDULE 13D CUSIP No. 501337109 Page 11 of 15 Pages LLC P 8/13/98 8000 4.51 INCA Gruber P 8/13/98 1300 4.51 INCA Lag P 8/12/98 4000 4.38 SHWD LLC P 8/12/98 2000 4.38 SHWD McBaine P 8/12/98 2000 4.38 SHWD Gruber P 8/12/98 2000 4.38 SHWD Lag P 8/12/98 20000 4.50 CRUT LLC P 8/12/98 10000 4.50 CRUT McBaine P 8/12/98 2000 4.31 TSCO LLC P 8/12/98 2500 4.31 TSCO Gruber P 8/12/98 5500 4.31 TSCO LLC P 8/12/98 6000 4.53 INCA McBaine P 8/12/98 5000 4.53 INCA Lag P 7/31/98 35000 3.97 CRUT LLC P 7/31/98 41500 3.97 CRUT McBaine P 7/31/98 3000 3.97 CRUT Gruber P 7/31/98 5500 3.97 CRUT Lag P 6/24/98 3250 2.81 NITE LLC P 6/24/98 3000 2.81 NITE McBaine P 6/24/98 750 2.81 NITE Gruber P 6/24/98 500 2.81 NITE Lag P 6/23/98 2000 2.75 NITE Gruber P 6/23/98 500 2.75 NITE Lag P 6/22/98 4000 2.81 INCA LLC P 6/22/98 5000 2.81 INCA Lag P 6/18/98 1700 2.90 INCA Gruber P 6/18/98 1000 2.90 INCA McBaine P 6/18/98 300 2.90 INCA Lag P 6/12/98 6000 2.74 TSCO LLC P 6/12/98 3000 2.74 TSCO McBaine P 6/12/98 1000 2.74 TSCO Gruber P 6/12/98 1500 2.88 SHWD LLC P 6/12/98 3000 2.88 SHWD McBaine P 6/12/98 500 2.88 SHWD Lag P 6/10/98 9000 3.23 SHWD LLC P 6/10/98 8000 3.23 SHWD McBaine P 6/10/98 1000 3.23 SHWD Gruber P 6/10/98 2000 3.23 SHWD Lag P 6/9/98 7000 3.40 INCA LLC P 6/9/98 2000 3.40 INCA McBaine P 6/9/98 1000 3.40 INCA LLC P 6/9/98 8000 3.34 NITE McBaine P 6/9/98 1000 3.34 NITE Gruber P 6/9/98 1000 3.34 NITE Lag P 6/8/98 2500 3.25 SHWD LLC P 6/8/98 3500 3.25 SHWD McBaine P 6/8/98 2000 3.25 SHWD Gruber P 6/8/98 2000 3.25 SHWD Lag P 6/5/98 30000 3.15 JOSE LLC P 6/5/98 8500 3.15 JOSE McBaine P 6/5/98 4000 3.15 JOSE Gruber P 6/5/98 2500 3.15 JOSE LLC P 6/5/98 27500 3.13 CRUT SCHEDULE 13D CUSIP No. 501337109 Page 12 of 15 Pages GMJ P 6/5/98 2000 3.13 CRUT McBaine P 6/5/98 3500 3.13 CRUT Gruber P 6/5/98 2000 3.13 CRUT Lag P 6/3/98 7000 2.90 JOSE LLC P 6/3/98 7500 2.90 JOSE McBaine P 6/3/98 500 2.90 JOSE Lag P 6/2/98 2500 2.94 JOSE LLC P 6/2/98 1500 2.94 JOSE McBaine P 6/2/98 1000 2.94 JOSE Lag P 6/1/98 10500 2.88 CRUT LLC P 6/1/98 10000 2.88 CRUT Gruber P 6/1/98 2000 2.88 CRUT McBaine P 6/1/98 2500 2.88 CRUT Lag P 5/29/98 17000 2.88 CRUT LLC P 5/29/98 22000 2.88 CRUT McBaine P 5/29/98 5000 2.88 CRUT Gruber P 5/29/98 6000 2.88 CRUT LLC P 5/29/98 4500 2.81 INCA McBaine P 5/29/98 500 2.81 INCA [Key to brokers used:] CHAS Charles Schwab CRUT Cruttendon HRZG Herzog Heine Geduld INCA Instinet JOSE Josephthal MONT Montgomery Securities NITE Knight Securities SASI Seidler Amdec SHWD Sherwood Securities TSCO Troster Singer USCT USC Trading SCHEDULE 13D CUSIP No. 501337109 Page 13 of 15 Pages ITEM. 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. LLC is the general partner of Lag, pursuant to limited partership agreements. These agreements provide to the general partner the authority, among other things, to invest the funds of GMJ and Lag in the Stock, to vote and dispose of those securities and to file this statement on behalf of GMJ and Lag. Also pursuant to those limited partnership agreements, LLC is entitled to fees based on assets under management and realized and unrealized gain, if certain conditions are met. Pursuant to investment management agreements, LLC is authorized, among other things, to invest funds of their various investment advisory clients, and to vote and dispose of those securities. Such investment management agreements may be terminated by either party on thirty days' notice, and provide for fees payable to LLC based on assets under management and realized and unrealized gains, if certain conditions are met. Pursuant to authority granted to LLC orally and under a Power of Attorney, LLC is authorized, among other things, to invest funds of various relatives and affiliates of Gruber and McBaine. Such authority may be terminated at any time on notice and there are no fees payable to LLC for those services. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. A. Agreement Regarding Joint Filing of Statement on Schedule 13D or 13G (previously filed). SCHEDULE 13D CUSIP No. 501337109 Page 14 of 15 Pages SIGNATURES After reasonable inquiry and to the best of my knowledge, I certify that the information set forth in this statement is true, complete and correct. DATED: December 30, 1998 Jon D. Gruber J. Patterson McBaine Thomas O. Lloyd-Butler Gruber and McBaine Capital Management, L.L.C., by J. Patterson McBaine, Manager GMJ Investments, L.P., by J. Patterson McBaine, Manager of Gruber and McBaine Capital Management, L.L.C., General Partner Lagunitas Partners, A California Limited Partnership, by J. Patterson McBaine, Manager of Gruber and McBaine Capital Management, L.L.C., General Partner SCHEDULE 13D CUSIP No. 501337109 Page 15 of 15 Pages ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. A. Agreement Regarding Joint Filing of Statement on Schedule 13D or 13G (previously filed). SIGNATURES After reasonable inquiry and to the best of my knowledge, I certify that the information set forth in this statement is true, complete and correct. DATED: December 30, 1998 EXHIBIT A AGREEMENT REGARDING JOINT FILING OF STATEMENT ON SCHEDULE 13D OR 13G The undersigned agree to file jointly with the Securities and Exchange Commission (the "SEC") any and all statements on Schedule 13D or Schedule 13G (and any amendments or supplements thereto) required under section 13(d) of the Securities Exchange Act of 1934, as amended, in connection with purchases by the undersigned of securities of KLOC. For that purpose, the undersigned hereby constitute and appoint Gruber & McBaine Capital Management, LLC, a California limited liability company, as their true and lawful agent and attorney-in-fact, with full power and authority for and on behalf of the undersigned to prepare or cause to be prepared, sign, file with the SEC and furnish to any other person all certificates, instruments, agreements and documents necessary to comply with section 13(d) and section 16(a) of the Securities Exchange Act of 1934, as amended, in connection with said purchases, and to do and perform every act necessary and proper to be done incident to the exercise of the foregoing power, as fully as the undersigned might or could do if personally present. DATED: December 30, 1998. Jon D. Gruber J. Patterson McBaine Thomas O. Lloyd-Butler Gruber and McBaine Capital Management, L.L.C., by J. Patterson McBaine, Manager GMJ Investments, L.P., by J. Patterson McBaine, Manager of Gruber and McBaine Capital Management, L.L.C., General Partner Lagunitas Partners, A California Limited Partnership, by J. Patterson McBaine, Manager of Gruber and McBaine Capital Management, L.L.C., General Partner F:\DMS\M-CORP\INV_ADV\0113476.WP THIS IS FORMATTED FOR EDGAR (ELECTRONIC) FILING--NO SPECIAL CODES, COURIER 10 CPI LEGAL FONT. ALSO, BE AWARE THAT THE FIRST AND SECOND PAGES OF THE FORM ARE CONSIDERED PAGE 1. THIS PAGE MUST BE DUPLICATED FOR EACH ENTITY INCLUDED IN THIS FILING. THIS PAGE MUST BE DUPLICATED FOR EACH ENTITY INCLUDED IN THIS FILING. THIS PAGE MUST BE DUPLICATED FOR EACH ENTITY INCLUDED IN THIS FILING. THIS PAGE MUST BE DUPLICATED FOR EACH ENTITY INCLUDED IN THIS FILING. THIS PAGE MUST BE DUPLICATED FOR EACH ENTITY INCLUDED IN THIS FILING. THIS PAGE MUST BE DUPLICATED FOR EACH ENTITY INCLUDED IN THIS FILING. -----END PRIVACY-ENHANCED MESSAGE-----