SEC Info - MetLife Insurance Co USA - ‘SC 13D/A’ on 8/27/01 re: ON2 Technologies, Inc.

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MetLife Insurance Co USA – ‘SC 13D/A’ on 8/27/01 re: ON2 Technologies, Inc.

On: Monday, 8/27/01 · Accession #: 912057-1-530352 · File #: 5-56347

  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 8/27/01  MetLife Ins Co of Connecticut     SC 13D/A               1:32K  ON2 Technologies, Inc.            Merrill Corp/FA

Amendment to General Statement of Beneficial Ownership — Schedule 13D
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13D/A    Amendment to General Statement of Beneficial          14     57K 
                          Ownership

Document Table of Contents

Page	(sequential)	\|	(alphabetic)	Top
			Alternative Formats (Word, et al.) Associated Madison Citigroup Interest in Securities of the Company Material to Be Filed as Exhibits Pfs Purpose of Transaction Source and Amount of Funds or Other Consideration Tap Tic Tigi Travelers Indemnity
1	1st Page - Filing Submission
9	Item 3. Source and Amount of Funds or Other Consideration
"	Item 4. Purpose of Transaction
10	Item 5. Interest in Securities of the Company
"	Tic
"	Travelers Indemnity
11	Tap
"	Tigi
12	Pfs
"	Associated Madison
13	Citigroup
"	Item 7. Material to Be Filed as Exhibits

SC 13D/A 1st Page of 14 TOC ↑Top Previous Next ↓Bottom Just 1st
 
 UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

 Under the Securities Exchange Act of 1934
(Amendment No. 3)*

On2 Technologies, Inc.
--------------------------------------------------------------------------------
(Name of Issuer)

 Common Stock, par value $0.01
--------------------------------------------------------------------------------
(Title of Class of Securities)

 68338A-10-7
--------------------------------------------------------------------------------
(CUSIP Number)

--------------------------------------------------------------------------------
 Joseph B. Wollard, Esq.
Citigroup Inc.
 425 Park Avenue
New York, NY 10043
(212) 559-1000
 (Name, Address and Telephone Number of Person Authorized to
 Receive Notices and Communications)

 August 17, 2001
--------------------------------------------------------------------------------
 (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 ss.ss.240.13d-1(e), 240.13d-1(f) or 240.13d-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 ss.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           
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).                                                                         

SC 13D/A 2nd Page of 14 TOC 1st Previous Next ↓Bottom Just 2nd
----------------------------                           -------------------------
CUSIP No. 68338A-10-7                SCHEDULE 13D         Page 1 of 13 Pages    
--------------------------------------------------------------------------------
1        NAMES OF REPORTING PERSONS                                   
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

The Travelers Insurance Company ("TIC")             
--------------------------------------------------------------------------------
2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*            
(a) X                                               
(b) |_|                                             
--------------------------------------------------------------------------------
3        SEC USE ONLY                                                 
--------------------------------------------------------------------------------
4        SOURCE OF FUNDS*                                             
WC                                                  

--------------------------------------------------------------------------------
5        CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
           TO ITEMS 2(d) or 2(e)                                       |_|
--------------------------------------------------------------------------------
6        CITIZENSHIP OR PLACE OF ORGANIZATION                         
Connecticut                                         

--------------------------------------------------------------------------------
NUMBER OF SHARES           7       SOLE VOTING POWER                    
0 

                           -----------------------------------------------------
BENEFICIALLY OWNED BY       8       SHARED VOTING POWER                   
          10,958,572**
                           -----------------------------------------------------
EACH REPORTING PERSON        9       SOLE DISPOSITIVE POWER                 
0 

                           -----------------------------------------------------
WITH                 10      SHARED DISPOSITIVE POWER       
          10,958,572**
--------------------------------------------------------------------------------
11       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 

10,958,572**                                        

--------------------------------------------------------------------------------
12       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES       
         CERTAIN SHARES*                                           |_|
--------------------------------------------------------------------------------
13       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)           

23.4%**                                             

--------------------------------------------------------------------------------
14       TYPE OF REPORTING PERSON*                                    

IC                                                  

--------------------------------------------------------------------------------

 *SEE INSTRUCTIONS BEFORE FILLING OUT!

**Represents (1) 1,600,000 shares of Common Stock directly beneficially owned by
TIC, (2) 400,000 shares of Common Stock indirectly beneficially owned by TIC    
through ownership of 400,000 Preferred Stock Purchase Units ("Company Units")   
issued by On2 Technologies, Inc. (the "Company"), (3) options to purchase 30,000
shares of Common Stock, (4) 3,571,429 shares of the Company's Series C-VI       
Preferred Stock, no par value ("Series C-VI Preferred") and (5) 5,357,143       
warrants ("Series C-VI Warrants"). Each Company Unit consists of one share of no
par value Series A Convertible Preferred Stock ("Series A Preferred"). Each     
share of Series A Preferred is non-voting and may be converted at the Reporting 
Person's option, at any time, into one share of the Company's Common Stock. Each
share of Series C-VI Preferred is non-voting and may be converted into one share
of Common Stock, subject to certain terms and conditions. Each Series C-VI      
Warrant may be exchanged for one share of Common Stock at an exercise price of  
$0.56 per share, subject to certain terms and conditions.                       

SC 13D/A 3rd Page of 14 TOC 1st Previous Next ↓Bottom Just 3rd
-----------------------------                     ------------------------------
CUSIP No. 68338A-10-7              SCHEDULE 13D            Page 2 of 13 Pages   
--------------------------------------------------------------------------------
1        NAMES OF REPORTING PERSONS                                   
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

   The Travelers Indemnity Company ("Travelers Indemnity")
--------------------------------------------------------------------------------
2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*            
(a) X                                               
(b) |_|                                             
--------------------------------------------------------------------------------
3        SEC USE ONLY                                                 
--------------------------------------------------------------------------------
4        SOURCE OF FUNDS*                                             
WC                                                  

--------------------------------------------------------------------------------
5        CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED         
              PURSUANT TO ITEMS 2(d) or 2(e)                                 |_|
--------------------------------------------------------------------------------
6        CITIZENSHIP OR PLACE OF ORGANIZATION                         

Connecticut                                         

--------------------------------------------------------------------------------
NUMBER OF SHARES           7       SOLE VOTING POWER                    
0 

                           -----------------------------------------------------
BENEFICIALLY OWNED BY       8       SHARED VOTING POWER                   
         5,160,097**

                           -----------------------------------------------------
EACH REPORTING PERSON        9       SOLE DISPOSITIVE POWER                 
0 

                           -----------------------------------------------------
WITH                 10      SHARED DISPOSITIVE POWER       
         5,160,097**

--------------------------------------------------------------------------------
11       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 

5,160,097**                                         

--------------------------------------------------------------------------------
12      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES        
         CERTAIN SHARES*                                             |_|
--------------------------------------------------------------------------------
13      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)            

11%**                                                 

--------------------------------------------------------------------------------
14      TYPE OF REPORTING PERSON*                                     

IC                                                    

--------------------------------------------------------------------------------

 *SEE INSTRUCTIONS BEFORE FILLING OUT!

** Represents (1) 3,104,717 shares of Common Stock directly beneficially owned  
by Travelers Indemnity and (2) 2,055,380 shares of Common Stock indirectly      
beneficially owned by Travelers Indemnity through ownership of 1,644,304 shares 
of Series C Convertible Preferred Stock ("Series C Preferred") and Warrants     
("Series C Warrants") to purchase up to 12.5%, or 411,076 shares, of Common     
Stock.                                                                          

SC 13D/A 4th Page of 14 TOC 1st Previous Next ↓Bottom Just 4th
-----------------------------                       ----------------------------
CUSIP No. 68338A-10-7              SCHEDULE 13D           Page 3  of 13 Pages   
--------------------------------------------------------------------------------
1        NAMES OF REPORTING PERSONS                                   
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Travelers Property Casualty Corp. ("TAP")           

--------------------------------------------------------------------------------
2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*            
(a) X                                               
(b) |_|                                             
--------------------------------------------------------------------------------
3        SEC USE ONLY                                                 

--------------------------------------------------------------------------------
4        SOURCE OF FUNDS*                                             
AF                                                  

--------------------------------------------------------------------------------
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           7       SOLE VOTING POWER                    
0 

                           -----------------------------------------------------
BENEFICIALLY OWNED BY       8       SHARED VOTING POWER                   
         5,160,097**

                           -----------------------------------------------------
EACH REPORTING PERSON        9       SOLE DISPOSITIVE POWER                 
0 

                           -----------------------------------------------------
WITH                 10      SHARED DISPOSITIVE POWER       
         5,160,097**

--------------------------------------------------------------------------------
11       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 

5,160,097**                                         

--------------------------------------------------------------------------------
12       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES       
             CERTAIN SHARES*                                               |_|

--------------------------------------------------------------------------------
13       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)           

11%**                                               

--------------------------------------------------------------------------------
14       TYPE OF REPORTING PERSON*                                    

HC                                                  

--------------------------------------------------------------------------------

 *SEE INSTRUCTIONS BEFORE FILLING OUT!

** Represents shares beneficially owned by Travelers Indemnity.                 

SC 13D/A 5th Page of 14 TOC 1st Previous Next ↓Bottom Just 5th
------------------------------                      ----------------------------
CUSIP No. 68338A-10-7                SCHEDULE 13D         Page 4 of 13 Pages    
--------------------------------------------------------------------------------
1        NAMES OF REPORTING PERSONS                                   
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Travelers Insurance Group Inc. ("TIGI")             
--------------------------------------------------------------------------------
2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*            
(a) X                                               
(b) |_|                                             
--------------------------------------------------------------------------------
3        SEC USE ONLY                                                 

--------------------------------------------------------------------------------
4        SOURCE OF FUNDS*                                             
AF                                                  

--------------------------------------------------------------------------------
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           7       SOLE VOTING POWER                    
0 

                           -----------------------------------------------------
BENEFICIALLY OWNED BY       8       SHARED VOTING POWER                   
          16,118,669**
                           -----------------------------------------------------
EACH REPORTING PERSON        9       SOLE DISPOSITIVE POWER                 
0 

                           -----------------------------------------------------
WITH                 10      SHARED DISPOSITIVE POWER       
          16,118,669**
--------------------------------------------------------------------------------
11       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 
16,118,669**                                        

------------------------------------------------------------------------------- 
 12       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
             SHARES*                                                       |_|

--------------------------------------------------------------------------------
13       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)           

34.4%**                                             

--------------------------------------------------------------------------------
14       TYPE OF REPORTING PERSON*                                    

HC                                                  

--------------------------------------------------------------------------------

 *SEE INSTRUCTIONS BEFORE FILLING OUT!

** Represents shares beneficially owned by Travelers Indemnity and TIC.         

SC 13D/A 6th Page of 14 TOC 1st Previous Next ↓Bottom Just 6th
-------------------------------                        -------------------------
CUSIP No. 68338A-10-7                SCHEDULE 13D           Page 5 of 13 Pages  
--------------------------------------------------------------------------------
1        NAMES OF REPORTING PERSONS                                   
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

PFS Services, Inc. ("PFS")                          
--------------------------------------------------------------------------------
2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*            
(a) X                                               
(b) |_|                                             
--------------------------------------------------------------------------------
3        SEC USE ONLY                                                 

--------------------------------------------------------------------------------
4        SOURCE OF FUNDS*                                             
AF                                                  

--------------------------------------------------------------------------------
5        CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED         
PURSUANT TO ITEMS 2(d) or 2(e)             |_|      
--------------------------------------------------------------------------------
6        CITIZENSHIP OR PLACE OF ORGANIZATION                         

Georgia                                             

--------------------------------------------------------------------------------
NUMBER OF SHARES           7       SOLE VOTING POWER                    
0 

                           -----------------------------------------------------
BENEFICIALLY OWNED BY       8       SHARED VOTING POWER                   
          16,118,669**
                           -----------------------------------------------------
EACH REPORTING PERSON        9       SOLE DISPOSITIVE POWER                 
0 

                           -----------------------------------------------------
WITH                 10      SHARED DISPOSITIVE POWER       
          16,118,669**
--------------------------------------------------------------------------------
11       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 
16,118,669**                                        

--------------------------------------------------------------------------------
12       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES       
            CERTAIN SHARES*                                              |_|

--------------------------------------------------------------------------------
13       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)           

34.4%**                                             

--------------------------------------------------------------------------------
14       TYPE OF REPORTING PERSON*                                    

HC                                                  

--------------------------------------------------------------------------------

 *SEE INSTRUCTIONS BEFORE FILLING OUT!

** Represents shares beneficially owned by Travelers Indemnity and TIC.         

SC 13D/A 7th Page of 14 TOC 1st Previous Next ↓Bottom Just 7th
---------------------------                            -------------------------
CUSIP No. 68338A-10-7                SCHEDULE 13D             Page 6 of 13 Pages
------------- ------------------------------------------------------------------
1        NAMES OF REPORTING PERSONS                                   
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

     Associated Madison Companies, Inc. ("Associated Madison")
------------------------------------------------------------------------------- 
2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*            
(a) X                                               
(b) |_|                                             
------------------------------------------------------------------------------- 
3        SEC USE ONLY                                                 

------------------------------------------------------------------------------- 
4        SOURCE OF FUNDS*                                             
AF                                                  

--------------------------------------------------------------------------------
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           7       SOLE VOTING POWER                    
0 

                           -----------------------------------------------------
BENEFICIALLY OWNED BY       8       SHARED VOTING POWER                   
          16,118,669**
                           -----------------------------------------------------
EACH REPORTING PERSON        9       SOLE DISPOSITIVE POWER                 
0 

                           -----------------------------------------------------
WITH                 10      SHARED DISPOSITIVE POWER       
          16,118,669**
--------------------------------------------------------------------------------
11       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 
16,118,669**                                        

--------------------------------------------------------------------------------
12       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)                
              EXCLUDES CERTAIN SHARES*                                       |_|
--------------------------------------------------------------------------------
13       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)           

34.4%**                                             

--------------------------------------------------------------------------------
14       TYPE OF REPORTING PERSON*                                    

HC                                                  

--------------------------------------------------------------------------------

 *SEE INSTRUCTIONS BEFORE FILLING OUT!

** Represents shares beneficially owned by Travelers Indemnity and TIC.         

SC 13D/A 8th Page of 14 TOC 1st Previous Next ↓Bottom Just 8th
--------------------------                        ------------------------------
CUSIP No. 68338A-10-7            SCHEDULE 13D                 Page 7 of 13 Pages
--------------------------------------------------------------------------------
1        NAMES OF REPORTING PERSONS                                   
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Citigroup Inc. ("Citigroup")                        
--------------------------------------------------------------------------------
2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*            
(a) X                                               
(b) |_|                                             
--------------------------------------------------------------------------------
3        SEC USE ONLY                                                 

--------------------------------------------------------------------------------
4        SOURCE OF FUNDS*                                             
AF                                                  

--------------------------------------------------------------------------------
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           7       SOLE VOTING POWER                    
0 

                           -----------------------------------------------------
BENEFICIALLY OWNED BY       8       SHARED VOTING POWER                   
          16,127,429**
                           -----------------------------------------------------
EACH REPORTING PERSON        9       SOLE DISPOSITIVE POWER                 
0 

                           -----------------------------------------------------
WITH                 10      SHARED DISPOSITIVE POWER       
          16,127,429**
--------------------------------------------------------------------------------
11       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 
16,127,429**                                        

--------------------------------------------------------------------------------
12       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES       
             CERTAIN SHARES*                                               |_|

--------------------------------------------------------------------------------
13       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)           

34.5%**                                             

--------------------------------------------------------------------------------
14       TYPE OF REPORTING PERSON*                                    

HC                                                  

--------------------------------------------------------------------------------

 *SEE INSTRUCTIONS BEFORE FILLING OUT!

** Represents shares beneficially owned by Travelers Indemnity, TIC and other   
subsidiaries of Citigroup Inc.                                                  

SC 13D/A 9th Page of 14 TOC 1st Previous Next ↓Bottom Just 9th
SCHEDULE 13D                                                                    

This Amendment No. 3 to a Schedule 13D filed on May 17, 2000, as amended by     
Amendment No. 1 filed on June 16, 2000 and Amendment No. 2 filed on July 23,    
2001, relates to the Common Stock, par value $0.01, of On2 Technologies, Inc.,  
formerly known as On2.com, Inc. (the "Company"). Information contained in the   
original Schedule 13D remains in effect except to the extent that it is         
superseded by subsequently filed information, including the information         
contained in this Amendment No. 3. Information given in response to each item   
shall be deemed incorporated by reference in all other items. Terms used and not
defined herein have the meaning ascribed to them in said Schedule 13D.          

Item 3.     SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.      

The response to Item 3 of the Schedule 13D is hereby amended and    
supplemented as follows.                                            

TRAVELERS INDEMNITY AND TIC                                         

        Amendment No. 2 to the Schedule 13D, which was filed on July 23, 2001,
    states (i) that Travelers Indemnity purchased 3,571,429 units (the
      "Units") from the Company on July 18, 2001 for an aggregate purchase
       price of $2 million ($0.56 per Unit), (ii) that each Unit consists of
    (a) one share of the Company's Common Stock and (b) one warrant to
  purchase 1.5 shares of Common Stock (the "Warrants"), (iii) that
       Travelers Indemnity may convert the Warrants into Common Stock at any
         time at an exercise price of $0.56 per share of Common Stock, (iv) that
        the Warrants expire on July 18, 2005, and (v) that the source of funds
         for the acquisition was Travelers Indemnity's working capital. However,
 the Units reported in Amendment No. 2 were acquired by TIC, not
       Travelers Indemnity. Amendment No. 2 correctly states all other terms
       and conditions relating to TIC's acquisition of the Units on July 18,
        2001. The source of funds for TIC's acquisition of the Units was TIC's
working capital.                                              

        On August 17, 2001, TIC and the Company entered into a Preferred Stock
         Subscription Agreement (the "Subscription Agreement") pursuant to which
        (i) TIC agreed to tender the Units to the Company and (ii) the Company
     agreed to cancel the Units and issue to TIC (a) 3,571,429 shares of
         Series C-VI Preferred Stock, no par value ("Series C-VI Preferred") and
       (b) 5,357,143 warrants ("Series C-VI Warrants"). Each share of Series
     C-VI Preferred is non-voting and may be converted into one share of
 Common Stock without additional consideration at any time after
  February 11, 2002 (or earlier, under certain circumstances - see
        Exhibit C of the Subscription Agreement). Each Series C-VI Warrant may
     be converted into one share of Common Stock at an exercise price of
       $0.56 per share at any time during the period commencing February 11,
2001 and ending August 10, 2005 (or earlier, under certain    
         circumstances - see Exhibit B of the Subscription Agreement). According
        to the terms of the Subscription Agreement, TIC and the Company agreed
       to treat the funds TIC used to acquire the Units as the consideration
      for TIC's acquisition of the Series C-VI Preferred shares and Series
C-VI Warrants.                                                

Item 4.     PURPOSE OF TRANSACTION.                           

The response to Item 4 of the Schedule 13D is hereby amended and    
supplemented as follows.                                            

        TIC acquired the Series C-VI Preferred shares and Series C-VI Warrants
   for investment purposes. Depending on market conditions and other
factors (including evaluation of the Company's businesses and 
prospects, availability                                       

Page 8 of 13 pages

SC 13D/A 10th Page of 14 TOC 1st Previous Next ↓Bottom Just 10th
       of funds, alternative uses of funds and general economic conditions),
       TIC and Travelers Indemnity may from time to time purchase additional
   securities of the Company or dispose of all or a portion of their
investments in the Company.                                   

Item 5.     INTEREST IN SECURITIES OF THE COMPANY.            

The response to Item 5 of the Schedule 13D is hereby amended and
supplemented as follows.                                        

     The percentages calculated in this Item 5 are based upon 46,782,576
        shares of Common Stock outstanding, including (1) 35,368,624 shares of
    Common Stock outstanding as of August 10, 2001 (as reported in the
         Company's Form 10-QSB that was filed on August 14, 2001), (2) 9,358,572
    shares of Common Stock issuable to TIC and (3) 2,055,380 shares of
Common Stock issuable to Travelers Indemnity.                 

TIC                                                                 

         On July 11, 2000, the Company granted to Jack L. Rivkin, an employee of
       an affiliate of Travelers Indemnity and TIC a member of the Company's
       Board of Directors, options to purchase 30,000 shares of Common Stock
         at $6 per share. The options vest as follows: (i) 10,000 shares on July
        11, 2001; (ii) 10,000 shares on July 11, 2002; and (iii) 10,000 shares
        on July 11, 2003. In accordance with Citigroup's corporate policy, Mr.
Rivkin assigned his interest in the options to TIC.           

        The following information is being provided as of August 24, 2001 with
      respect to TIC's beneficial ownership of the Company's Common Stock.

                (a)      Amount Beneficially Owned:                   10,958,572

           (b)      Percent of Class:                            23.4%

      (c)      Number of shares as to which such person has:

        (i)      sole power to vote or to direct

                        the vote..........................   0

       (ii)     shared power to vote or direct

                                 the vote..........................   10,958,572

           (iii)    sole power to dispose or to direct

                        the disposition of................   0

             (iv)     shared power to dispose or to direct

                                 the disposition of.................  10,958,572

Travelers Indemnity                                                 

  The following information is being provided as of August 24, 2001 with
  respect to Travelers Indemnity's beneficial ownership of the Company's
Common Stock.                                                       

               (a)      Amount Beneficially Owned:                   5,160,097

         (b)      Percent of Class:                            11%

Page 9 of 13 pages

SC 13D/A 11th Page of 14 TOC 1st Previous Next ↓Bottom Just 11th
          (c)      Number of shares as to which such person has:

        (i)      sole power to vote or to direct

                        the vote..........................   0

       (ii)     shared power to vote or direct

                                the vote..........................   5,160,097

           (iii)    sole power to dispose or to direct

                        the disposition of................   0

             (iv)     shared power to dispose or to direct

                                   the disposition of..............  5,160,097

TAP                                                                 

  The following information is being provided as of August 24, 2001 with
  respect to TAP's indirect beneficial ownership of the Company's Common
Stock.                                                              

               (a)      Amount Beneficially Owned:                   5,160,097

         (b)      Percent of Class:                            11%

      (c)      Number of shares as to which such person has:

        (i)      sole power to vote or to direct

                        the vote..........................   0

       (ii)     shared power to vote or direct

                                the vote..........................   5,160,097

           (iii)    sole power to dispose or to direct

                        the disposition of.................  0

             (iv)     shared power to dispose or to direct

                                the disposition of.................  5,160,097

TIGI                                                                

  The following information is being provided as of August 24, 2001 with
   respect to TIGI's indirect beneficial ownership of the Company's Common
Stock.                                                              

                (a)      Amount Beneficially Owned:                   16,118,669

           (b)      Percent of Class:                            34.4%

      (c)      Number of shares as to which such person has:

        (i)      sole power to vote or to direct

                        the vote..........................   0

 Page 10 of 13 pages

SC 13D/A 12th Page of 14 TOC 1st Previous Next ↓Bottom Just 12th
       (ii)     shared power to vote or direct

                                 the vote..........................   16,118,669

           (iii)    sole power to dispose or to direct

                        the disposition of................   0

             (iv)     shared power to dispose or to direct

                                 the disposition of.................  16,118,669

PFS                                                           

  The following information is being provided as of August 24, 2001 with
  respect to PFS's indirect beneficial ownership of the Company's Common
Stock.                                                              

                (a)      Amount Beneficially Owned:                   16,118,669

           (b)      Percent of Class:                            34.4%

      (c)      Number of shares as to which such person has:

        (i)      sole power to vote or to direct

                        the vote..........................   0

       (ii)     shared power to vote or direct

                                 the vote..........................   16,118,669

           (iii)    sole power to dispose or to direct

                        the disposition of................   0

             (iv)     shared power to dispose or to direct

                                 the disposition of................   16,118,669

Associated Madison                                                  

  The following information is being provided as of August 24, 2001 with
respect to Associated Madison's indirect beneficial ownership of the
Company's Common Stock.                                             

                (a)      Amount Beneficially Owned:                   16,118,669

           (b)      Percent of Class:                            34.4%

      (c)      Number of shares as to which such person has:

        (i)      sole power to vote or to direct

                        the vote..........................   0

       (ii)     shared power to vote or direct

                                 the vote..........................   16,118,669

 Page 11 of 13 pages

SC 13D/A 13th Page of 14 TOC 1st Previous Next ↓Bottom Just 13th
           (iii)    sole power to dispose or to direct

                        the disposition of................   0

             (iv)     shared power to dispose or to direct

                                 the disposition of................   16,118,669

Citigroup                                                     

  The following information is being provided as of August 24, 2001 with
 respect to Citigroup's indirect beneficial ownership of the Company's
Common Stock.                                                       

                (a)      Amount Beneficially Owned:                   16,127,429

           (b)      Percent of Class:                            34.5%

      (c)      Number of shares as to which such person has:

        (i)      sole power to vote or to direct

                        the vote........................     0

       (ii)     shared power to vote or direct

                                 the vote........................     16,127,429

           (iii)    sole power to dispose or to direct

                        the disposition of..............     0

             (iv)     shared power to dispose or to direct

                                 the disposition of..............     16,127,429

Item 7.           MATERIAL TO BE FILED AS EXHIBITS.           

  EXHIBIT          DESCRIPTION
  -------          -----------

                   A                Preferred Stock Subscription
                                         Agreement, dated as of August 10,
                                            2001, by and among On2 Technologies,
                                        Inc. and The Travelers Insurance
                                           Company (incorporated as an exhibit
                                          hereto by reference to Exhibit 5.1
                                  on Form 8-K/A filed by On2
                                   Technologies, Inc. with the
                                          Securities and Exchange Commission
                            on August 23, 2001).

                          B                Investor Rights Agreement, dated as
                                            of August 10, 2001, by and among The
                                           Travelers Insurance Company and On2
                                           Technologies, Inc. (incorporated as
                                         an exhibit hereto by reference to
                                          Exhibit 5.2 on Form 8-K/A filed by
                                       On2 Technologies, Inc. with the
                                          Securities and Exchange Commission
                            on August 23, 2001).

 Page 12 of 13 pages

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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:      August 27, 2001                                         

THE TRAVELERS INDEMNITY COMPANY                                     

By:    /s/ Daniel W. Jackson                                        
---------------------------                                 
Name: Daniel W. Jackson                                             
Title:  Assistant Secretary                                         

THE TRAVELERS INSURANCE COMPANY                                     

By:    /s/ Millie Kim                                               
---------------------------                                 
Name: Millie Kim                                                    
Title:  Assistant Secretary                                         

TRAVELERS PROPERTY CASUALTY CORP.                                   

By:    /s/ Daniel W. Jackson                                        
---------------------------                                 
Name: Daniel W. Jackson                                             
Title:  Assistant Secretary                                         

TRAVELERS INSURANCE GROUP INC.                                      

By:    /s/ Joseph B. Wollard                                        
---------------------------                                   
Name: Joseph B. Wollard                                             
Title:  Assistant Secretary                                         

PFS SERVICES, INC.                                                  

By:    /s/ Joseph B. Wollard                                        
---------------------------                                   
Name: Joseph B. Wollard                                             
Title:  Assistant Secretary                                         

ASSOCIATED MADISON COMPANIES, INC.                                  

By:    /s/ Joseph B. Wollard                                        
---------------------------                                   
Name: Joseph B. Wollard                                             
Title:  Assistant Secretary                                         

CITIGROUP INC.                                                      

By:    /s/ Joseph B. Wollard                                        
---------------------------                                   
Name: Joseph B. Wollard                                             
Title:  Assistant Secretary                                         

 Page 13 of 13 pages

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Dates Referenced Herein and Documents Incorporated by Reference

		Referenced-On Page
This ‘SC 13D/A’ Filing	Date	First	Last	Other Filings

	8/10/05	9
	7/18/05	9		424B3
	7/11/03	10		S-3/A
	7/11/02	10
	2/11/02	9
Filed on:	8/27/01	14
	8/24/01	10	13
	8/23/01	13		8-K/A
	8/17/01	1	9
	8/14/01	10		10QSB, 13F-NT
	8/10/01	10	13
	7/23/01	9		SC 13D/A
	7/18/01	9		8-K
	7/11/01	10
	2/11/01	9
	7/11/00	10
	6/16/00	9		SC 13D/A
	5/17/00	9		DEF 14A, PRE 14A, SC 13D
				List all Filings

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Filing Submission 0000912057-01-530352 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

MetLife Insurance Co USA – ‘SC 13D/A’ on 8/27/01 re: ON2 Technologies, Inc.

On: Monday, 8/27/01 · Accession #: 912057-1-530352 · File #: 5-56347

Amendment to General Statement of Beneficial Ownership — Schedule 13DFiling Table of Contents

Document Table of Contents

Dates Referenced Herein and Documents Incorporated by Reference

Amendment to General Statement of Beneficial Ownership — Schedule 13D
Filing Table of Contents