UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. ___________)*
VIEWPOINT CORPORATION
.......................................................
(Name of Issuer)
COMMON SHARES
.......................................................
(Title of Class of Securities)
92672P108
.......................................................
(CUSIP Number)
08/09/2002
.......................................................
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*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).
CUSIP No. 92672P108
.......................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Mayer Offman, LLC/IRS #125405120
........................................................................
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ...................................................................
(b) ...................................................................
3. SEC Use Only ......................................................
4. Citizenship or Place of Organization USA
........................................................................
Number of
Shares
Beneficially
Owned by
Each Reporting
Person With
5. Sole Voting Power 1,607,400
.....................................................................
6. Shared Voting Power 1,436,416
.....................................................................
7. Sole Dispositive Power 1,607,400
.....................................................................
8. Shared Dispositive Power 3,341,891
.....................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
4,949,291
.....................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
.....................................................................
11. Percent of Class Represented by Amount in Row (9)
12.4%
.....................................................................
12. Type of Reporting Person (See Instructions)
.....................................................................
IN
.....................................................................
.....................................................................
.....................................................................
.....................................................................
.....................................................................
CUSIP No. 92672P108
.......................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Generic Trading of Philadelphia, LLC/IRS #133963802
........................................................................
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ...................................................................
(b) ...................................................................
3. SEC Use Only ......................................................
4. Citizenship or Place of Organization Delaware
........................................................................
Number of
Shares
Beneficially
Owned by
Each Reporting
Person With
5. Sole Voting Power 1,436,416
.....................................................................
6. Shared Voting Power
.....................................................................
7. Sole Dispositive Power 1,436,416
.....................................................................
8. Shared Dispositive Power
.....................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,436,416
.....................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
.....................................................................
11. Percent of Class Represented by Amount in Row (9)
3.6%
.....................................................................
12. Type of Reporting Person (See Instructions)
.....................................................................
BD
.....................................................................
.....................................................................
.....................................................................
.....................................................................
.....................................................................
CUSIP No. 92672P108
.......................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Gabriel Capital, LP/IRS #133621277
........................................................................
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ...................................................................
(b) ...................................................................
3. SEC Use Only ......................................................
4. Citizenship or Place of Organization Delaware
........................................................................
Number of
Shares
Beneficially
Owned by
Each Reporting
Person With
5. Sole Voting Power 945,060
.....................................................................
6. Shared Voting Power
.....................................................................
7. Sole Dispositive Power
.....................................................................
8. Shared Dispositive Power 945,060
.....................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
945,060
.....................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
.....................................................................
11. Percent of Class Represented by Amount in Row (9)
2.37%
12. Type of Reporting Person (See Instructions)
.....................................................................
PN
.....................................................................
.....................................................................
.....................................................................
.....................................................................
.....................................................................
CUSIP No. 92672P108
.......................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Ariel Fund Limited, LLC/IRS #Foreign
........................................................................
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ...................................................................
(b) ...................................................................
3. SEC Use Only ....................................................
4. Citizenship or Place of Organization Cayman Islands
........................................................................
Number of
Shares
Beneficially
Owned by
Each Reporting
Person With
5. Sole Voting Power 945,061
.....................................................................
6. Shared Voting Power
.....................................................................
7. Sole Dispositive Power
.....................................................................
8. Shared Dispositive Power 945,061
.....................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
945,061
.....................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
.....................................................................
11. Percent of Class Represented by Amount in Row (9)
2.37%
12. Type of Reporting Person (See Instructions)
.....................................................................
OO
.....................................................................
.....................................................................
.....................................................................
.....................................................................
.....................................................................
CUSIP No. 92672P108
.......................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Simaru Associates, LLC/IRS #134176460
........................................................................
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ...................................................................
(b) ...................................................................
3. SEC Use Only ......................................................
4. Citizenship or Place of Organization Delaware
........................................................................
Number of
Shares
Beneficially
Owned by
Each Reporting
Person With
5. Sole Voting Power 34,654
.....................................................................
6. Shared Voting Power
.....................................................................
7. Sole Dispositive Power
.....................................................................
8. Shared Dispositive Power 34,654
.....................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
34,654
.....................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
.....................................................................
11. Percent of Class Represented by Amount in Row (9)
0.09%
12. Type of Reporting Person (See Instructions)
.....................................................................
OO
.....................................................................
.....................................................................
.....................................................................
.....................................................................
.....................................................................
Item 1.
(a) Name of Issuer
VIEWPOINT CORPORATION
(b) Address of Issuer's Principal Executive Offices
498 SEVENTH AVENUE, SUITE 1810
NEW YORK, NY 10018
Item 2.
(a) Name of Person Filing
This statement, with respect to the shares of Common
Stock, .001 par value per share of Viewpoint Corporation (hereinafter
referred to as "Common Shares") is filed by:
1. Mayer Offman (hereinafter referred to as "Offman"),
the beneficial owner of a total of 4,949,291 Common Shares, 1,607,400
Common Shares of which Offman has sole voting and dispositive power
as the owner of record of such shares, 1,436,400 of which Offman has
shared voting power as the Vice-President of Shear-Offman, Inc. the
managing member of Generic Trading of Philadelphia, LLC (hereinafter
referred to as "GTP") which is the holder of record of such amount of
shares; and 3,341,891 of which Offman has dispositive power as the
authorized trader for accounts held by Gabriel Capital, LP hereinafter
referred to as "GC"), Ariel Fund Limited (hereinafter referred to as
"AFL")and Simaru Associates, LLC (hereinafter referred to as "SA") in
which such shares are held;
2. GTP, a Delaware limited liability company doing
business as a proprietary trading firm with which Offman serves
as Vice-President of the managing member, Shear-Offman, Inc., a
Delaware corporation. GTP beneficially owns 1,436,416 Common Shares
which it has sole voting and dispositive powers;
3. GC, a Delaware limited partnership and the
beneficial owner of 945,060 Common Shares which it has sole voting
power and shared dispositive power with Offman, who has been
granted limited trading authorization over GC's account in which
GC's Common Shares are held;
4. AFL, a company incorporated under the laws of the
Cayman Islands, British West Indies and the beneficial owner of
945,061 Common Shares which it has sole voting power and shared
dispositive power with Offman, who has been granted limited trading
authorization over AFL's account in which AFL's Common Shares are
held; and
5. SA, a Delaware limited liability company and the
beneficial owner of 34,654 Common Shares which it has sole voting
power and shared dispositive power with Offman, who has been granted
limited trading authorization over SA's account in which SA's Common
Shares are held.
(b) Address of Principal Business Office or, if none,
Residence
The address of the reporting persons are as follows:
1. Mayer Offman
1270 Ave. of the Americas, 12th Floor
New York, NY 10020
2. Generic Trading of Philadelphia, LLC
1270 Avenue of the Americas, 12th Floor
New York, NY 10020
3. Gabriel Capital, LP
450 Park Avenue, Suite 3201
New York, New York 10022
4. Ariel Fund Limited
c/o Mark A. Wiener
450 Park Avenue, #3201
New York, NY 10022
5. Simaru Associates, LLC
4779 Collins Ave., Suite #3304
Miami Beach, FL 33140
(c) Citizenship
1. United States of America
2. Delaware
3. Delaware
4. Cayman Islands, British West Indies
5. Delaware
(d) Title of Class of Securities
Common
(e) CUSIP Number
92672P108
Item 3. If this statement is filed pursuant to Sect. 240.13d-1(b)
or 240.13d-2(b)or (c), check whether the person filing is a:
(a) [ ] Broker or dealer registered under section 15 of the
Act (15 U.S.C. 78o).
(b) [ ] Bank as defined in section 3(a)(6) of the Act
(15 U.S.C. 78c).
(c) [ ] Insurance company as defined in section 3(a)(19)
of the Act (15 U.S.C. 78c).
(d) [ ] Investment company registered under section 8 of
the Investment Company Act of 1940 (15 U.S.C 80a-8).
(e) [ ] An investment adviser in accordance with
Sect.240.13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in
accordance with Sect. 240.13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in
accordance with Sect. 240.13d-1(b)(1)(ii)(G);
(h) [ ] A savings associations as defined in Section 3(b)
of the Federal Deposit Insurance Act (12 U.S.C.
1813);
(i) [ ] A church plan that is excluded from the definition
of an investment company under section 3(c)(14) of
the Investment Company Act of 1940 (15 U.S.C.
80a-3);
(j) [ ] Group, in accordance with Sect. 240.13d-1(b)(1)(ii)
(J).
Item 4. Ownership.
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in
Item 1.
A. Mayer Offman
(a) Amount beneficially owned: 4,949,291
(b) Percent of Class: 12.4%
(c) (i) Sole power to vote or direct the vote: 1,607,400
(ii) Shared Power to vote or direct the vote: 1,436,416
(iii)Sole power to dispose or direct the
disposition: 1,607,400
(iv) Shared power to dispose or direct the
disposition: 3,341,891
B. Generic Trading of Philadelphia, LLC
(a) Amount beneficially owned: 1,436,416
(b) Percent of Class: 3.6%
(c) (i) Sole power to vote or direct the vote: 0
(ii) Shared Power to vote or direct the vote: 1,436,416
(iii)Sole power to dispose or direct the
disposition: 0
(iv) Shared power to dispose or direct the
disposition: 1,436,416
C. Simaru Associates, LLC
(a) Amount beneficially owned: 34,654
(b) Percent of Class: 0.09%
(c) (i) Sole power to vote or direct the vote: 34,654
(ii) Shared Power to vote or direct the vote: 0
(iii)Sole power to dispose or direct the
disposition: 0
(iv) Shared power to dispose or direct the
disposition: 34,654
D. Gabriel Capital, LP
(a) Amount beneficially owned: 945,060
(b) Percent of Class: 2.37%
(c) (i) Sole power to vote or direct the vote: 945,060
(ii) Shared Power to vote or direct the vote: 0
(iii)Sole power to dispose or direct the
disposition: 0
(iv) Shared power to dispose or direct the
disposition: 945,060
E. Ariel Fund Limited, LLC
(a) Amount beneficially owned: 945,061
(b) Percent of Class: 2.37%
(c) (i) Sole power to vote or direct the vote: 945,061
(ii) Shared Power to vote or direct the vote: 0
(iii)Sole power to dispose or direct the
disposition: 0
(iv) Shared power to dispose or direct the
disposition: 945,061
Instruction. For computations regarding securities which represent a
right to acquire an underlying security see Sect. 240.13d3(d)(1).
Item 5. Ownership of Five Percent or Less of a Class
Not Applicable
Item 6. Ownership of More than Five Percent on Behalf of Another
Person.
Not Applicable
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent
Holding Company
Not Applicable
Item 8. Identification and Classification of Members of the Group
Not Applicable
Item 9. Notice of Dissolution of Group
Not Applicable
Item 10. Certification
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were
not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.
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.
08/12/2002
.......................................
Date
/s/ Mayer Offman
.......................................
Mayer Offman
/s/ Mayer Offman/Vice President
.......................................
Generic Trading of Philadelphia, LLC
Name/Title
/s/ J. Ezra Merkin/General Partner
.......................................
Gabriel Capital, LP
Name/Title
/s/ J. Ezra Merkin/President
.......................................
Ariel Fund, Limited
Name/Title
/s/ Abe Sova/Manager
.......................................
Simaru Associates, LLC
Name/Title