The basic fact is that one can express the required extreme values of the areas in the generic case (our use of this term is explained below). The simple formulae involved can be found below. To do this we introduce a series of functions of four positive variables, the side lengths. These are
$$f_1=-(a^4+b^4+c^4+d^4)+2(a^2b^2+2a^2c^2+2a^2d^2+2b^2c^2+2b^2d^2+2c^2d^2)+8abcd.$$
$f_2$ is the same, with a minus at the $abcd$ term.
$$f_3=4a^4-(a^4+b^4+c^4+d^4-2()).$$
We then have $f_4=a^2+b^2-c^2-d^2$ , $f_5=a^2-b^2-c^2+d^2$.
Then $f_6=ab+cd$, $f_7=bc+ad$, $f_8=ab-cd$, $f_9=ad-bc$.
There are constraints on the variables which are necessary to ensure that suitable quadrilaterals with these side lengths exist. The formulation is not quite complete—it is not quite clear whether the situation allows to be non convex (which, in the cyclic case, means self-crossing). We are assuming that this is the case. Then the positivity of $f_2$ and hence of $f_1$ ensure the existence. Then in the generic case, there are two quadrilaterals where the sup and inf are obtained and these are cyclic. They can be realised as those quadrilaterals with vertices $(0,0)$, $(a,0)$, $(,)$ and $(,)$ which is the maximum. The miminum is attained at the vertices as above but with $f_1$ replaced by $f_2$, $f_6$ by $f_8$ and $f_7$ by $f_9$. (I am writing this on a pad, so trying to reduce the use of mathematical symbols).
The condition which $F$ must fulfill is the positivity of an explicit sextic polynomial withcoefficientswith coefficients functions of the side lengths. Hence the required optimal values are roots of this polynomials. The polynomial is, in fact, a cubic in $F^2$ and so can be solved by radicals.
The computations are rather intricate (I used Mathematica) but the result is quite simple:the squares of the two areas are $$\frac 1 {16}(-a^4+2 a^2b^2-b^4+2a^2c^2 +2b^2c^2+2 c^2d^2-c^4\pm 8abcd+2a^2d^2+2b^2 d^2-d^4).$$
Of course, it can happen that one of these expressions is negative. This means is that there is no quadrilateral with the assigned side lengths.
The plus sign gives the maximum.
In order to be concrete, the coordinates of the vertices of the quadrilaterals which attain the sup and in are
firstly
$(0,0)$, $(a,0)$, $(\frac{f_8 }{f_4},\frac{b f_1}{f_6}) $$(\frac{f_3 }{4a f_4},\frac{b \sqrt {f_1}}{f_6}) $ and $ (\frac{f_6}{f_3},\frac{df_1}{f_3})$.
where the numerated $f$ in order the functions $f_1$ the first area function, $f_2$ the second one, $f_3=2(bc+ad)$, $f_4=4a(a^2+b^2-c^2-d^2)$, $f-5=d(a^2-b^2-c^2+d^2)$,$f_6=2(ab+cd)$, $f_7=2( ab-cd)$, $f_8=2(ad-bc)$
and $f_9=3a^4-b^4-(c^2-d^2)^2+2b^2(c^2+d^2)-2a^2(b^2+c^2d^2)$$ (d \frac{f_5}{2 f_7},\frac{d\sqrt{f_1}}{f_3})$.
The rather ungainly formatting is due to the fact that I am using a pad. AsAs mentioned above, this is for the generic case, by which I mean where the denominators do not vanish. In this form, they The remaining cases are, of course, of no use to man or beast but the treated by other computations which lead to the formula produce a coded version which allows one to compute the vertices for any $a,b,c,d$ input atI shall not mention here. where the press of a buttondenominators do not vanish.