-----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, DA9hWk+uK+ZgDOWzXLUjJ6Ro4z7kw3N8alhC48T2yNxHXtY2FPdGzGN2RHSipHg2 5S8YNWry9vtG/bVA+IIBjA== 0000912057-02-034222.txt : 20020830 0000912057-02-034222.hdr.sgml : 20020830 20020830165031 ACCESSION NUMBER: 0000912057-02-034222 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20020830 GROUP MEMBERS: ASSOCIATED MADISON COMPANIES, INC. GROUP MEMBERS: CITIGROUP ALTERNATIVE INVESTMENTS LLC GROUP MEMBERS: CITIGROUP INSURANCE HOLDING CORPORATION GROUP MEMBERS: CITIGROUP INVESTMENTS INC. GROUP MEMBERS: THE TRAVELERS INDEMNITY COMPANY GROUP MEMBERS: THE TRAVELERS INSURANCE COMPANY GROUP MEMBERS: TRAVELERS INSURANCE GROUP HOLDINGS, INC. GROUP MEMBERS: TRAVELERS PROPERTY CASUALTY CORP. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ON2 TECHNOLOGIES INC CENTRAL INDEX KEY: 0001045280 STANDARD INDUSTRIAL CLASSIFICATION: MORTGAGE BANKERS & LOAN CORRESPONDENTS [6162] IRS NUMBER: 841280679 STATE OF INCORPORATION: CO FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-56347 FILM NUMBER: 02754499 BUSINESS ADDRESS: STREET 1: 145 HUDSON STREET CITY: NEW YORK STATE: NY ZIP: 10013 BUSINESS PHONE: 9172370500 MAIL ADDRESS: STREET 1: 645 FIFTH AVE STREET 2: C/O STEVEN SISKIND CITY: NEW YORK STATE: NY ZIP: 10022 FORMER COMPANY: FORMER CONFORMED NAME: APPLIED CAPITAL FUNDING INC DATE OF NAME CHANGE: 19971002 FORMER COMPANY: FORMER CONFORMED NAME: ON2COM INC DATE OF NAME CHANGE: 19990622 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CITIGROUP INC CENTRAL INDEX KEY: 0000831001 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 521568099 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 399 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10043 BUSINESS PHONE: 2125591000 MAIL ADDRESS: STREET 1: 399 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10043 FORMER COMPANY: FORMER CONFORMED NAME: TRAVELERS INC DATE OF NAME CHANGE: 19940103 FORMER COMPANY: FORMER CONFORMED NAME: PRIMERICA CORP /NEW/ DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: TRAVELERS GROUP INC DATE OF NAME CHANGE: 19950519 SC 13D/A 1 a2088542zsc13da.txt SCHEDULE 13D UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 7)* 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 20, 2002 - -------------------------------------------------------------------------------- (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). - ---------------------------- ------------------------- CUSIP No. 68338A-10-7 SCHEDULE 13D Page 1 of 15 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) 16.8%** - -------------------------------------------------------------------------------- 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. - ----------------------------- ------------------------------ CUSIP No. 68338A-10-7 SCHEDULE 13D Page 2 of 15 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 11,786,995** ----------------------------------------------------- EACH REPORTING PERSON 9 SOLE DISPOSITIVE POWER 0 ----------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 11,786,995** - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11,786,995** - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 18.0%** - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IC - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! ** Represents (1) 2,039,292 shares of Common Stock directly beneficially owned by Travelers Indemnity, (2) 2,578,947 shares of the Company's Series C-IV Preferred Stock, par value of $0.01 per share ("Series C-IV Preferred"), (3) 644,741 Series C-IV Warrants ("Series C-IV Warrants"), (4) 5,227,552 shares of the Company's Series C-V Preferred Stock, par value of $0.01 per share ("Series C-V Preferred"), and (5) 1,296,463 Series C-V Warrants ("Series C-V Warrants"). Each share of Series C-IV and C-V Preferred is non-voting and may be converted into one share of Common Stock, subject to certain terms and conditions. Each Series C-IV and C-V Warrant may be exchanged for one share of Common Stock, subject to certain terms and conditions. - ----------------------------- ---------------------------- CUSIP No. 68338A-10-7 SCHEDULE 13D Page 3 of 15 pages - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Travelers Insurance Group Holdings, Inc. ("TIGHI") - -------------------------------------------------------------------------------- 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 11,786,995** ----------------------------------------------------- EACH REPORTING PERSON 9 SOLE DISPOSITIVE POWER 0 ----------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 11,786,995** - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11,786,995** - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 18.0%** - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* HC - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! ** Represents shares directly beneficially owned by Travelers Indemnity. - ------------------------------ ---------------------------- CUSIP No. 68338A-10-7 SCHEDULE 13D Page 4 of 15 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 Connecticut - -------------------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER 0 ----------------------------------------------------- BENEFICIALLY OWNED BY 8 SHARED VOTING POWER 11,786,995** ----------------------------------------------------- EACH REPORTING PERSON 9 SOLE DISPOSITIVE POWER 0 ----------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 11,786,995** - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11,786,995** - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 18.0%** - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* HC - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! ** Represents shares directly beneficially owned by Travelers Indemnity. - ------------------------------ ---------------------------- CUSIP No. 68338A-10-7 SCHEDULE 13D Page 4 of 15 pages - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Citigroup Alternative Investments LLC ("CAI") - -------------------------------------------------------------------------------- 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 22,752,317** ----------------------------------------------------- EACH REPORTING PERSON 9 SOLE DISPOSITIVE POWER 0 ----------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 22,752,317** - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 22,752,317** - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 30.4%** - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IA - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! ** Represents shares directly beneficially owned by Travelers Indemnity and TIC and managed by CAI on behalf of these companies. - ------------------------------ ---------------------------- CUSIP No. 68338A-10-7 SCHEDULE 13D Page 4 of 15 pages - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Citigroup Investments Inc. ("CII") - -------------------------------------------------------------------------------- 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 22,752,317** ----------------------------------------------------- EACH REPORTING PERSON 9 SOLE DISPOSITIVE POWER 0 ----------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 22,752,317** - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 22,752,317** - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 30.4%** - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* HC - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! ** Represents shares directly beneficially owned by Travelers Indemnity and TIC and managed by CAI. - ------------------------------- ------------------------- CUSIP No. 68338A-10-7 SCHEDULE 13D Page 5 of 15 pages - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Citigroup Insurance Holding Corporation ("CIHC") - -------------------------------------------------------------------------------- 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 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) 16.8%** - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* HC - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! ** Represents shares directly beneficially owned by TIC. - --------------------------- ------------------------- CUSIP No. 68338A-10-7 SCHEDULE 13D Page 6 of 15 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 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) 16.8%** - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* HC - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! ** Represents shares directly beneficially owned by TIC. - -------------------------- ------------------------------ CUSIP No. 68338A-10-7 SCHEDULE 13D Page 7 of 15 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 22,752,317** ----------------------------------------------------- EACH REPORTING PERSON 9 SOLE DISPOSITIVE POWER 0 ----------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 22,752,317** - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 22,752,317** - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 30.4%** - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* HC - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! ** Represents (i) 11,786,995 shares directly beneficially owned by Travelers Indemnity and 10,958,572 shares directly owned by TIC managed by CAI on behalf of these companies and (ii) 6,750 shares directly beneficially owned by other subsidiaries of Citigroup Inc. SCHEDULE 13D This Amendment No. 7 to the Schedule 13D filed on May 17, 2000, as amended by Amendment No. 1 filed on June 16, 2000, Amendment No. 2 filed on July 23, 2001, Amendment No. 3 filed on August 17, 2001, Amendment No. 4 filed on April 12, 2002, Amendment No. 5 filed on August 23, 2002, and Amendment No. 6 filed on April 5, 2002 relates to the Common Stock, par value $0.01, of On2 Technologies, Inc., formerly known as On2.com, Inc. (the "Company"), a Delaware corporation. 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. 7. Information given in response to each item of this Schedule 13D 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 2. INDENTITY AND BACKGROUND The response to Item 2 of the Schedule 13D is hereby amended and supplemented as follows. (a) This Schedule 13D is being filed by (i) The Travelers Insurance Company, a Connecticut corporation ("TIC"), by virtue of its beneficial ownership of the Company's Common Stock (including securities that may be converted into Common Stock), (ii) The Travelers Indemnity Company, a Connecticut corporation ("Travelers Indemnity"), by virtue of its beneficial ownership of the Company's Common Stock (including securities that may be converted into Common Stock), (iii) Travelers Insurance Group Holdings Inc., a Delaware corporation ("TIGHI"), by virtue of its ownership of all of the outstanding common stock of Travelers Indemnity, (iv) Travelers Property Casualty Corp., a Connecticut corporation ("TAP"), by virtue of its ownership of all of the outstanding common stock of TIGHI, (v) Citigroup Alternative Investments LLC, a Delaware corporation ("CAI") by virtue of its management of the Company's securities on behalf of Travelers Indemnity and TIC, (vi) Citigroup Investments Inc., a Delaware corporation ("CII"), by virtue of its ownership of all the outstanding common stock of CAI, (vii) Citigroup Insurance Holding Corporation, a Georgia corporation ("CIHC"), by virtue of its ownership of all of the outstanding common stock of TIC, (viii) Associated Madison Companies, Inc., a Delaware corporation ("Associated Madison"), by virtue of its ownership of all of the outstanding common stock of CIHC, and (ix) Citigroup Inc., a Delaware corporation ("Citigroup"), by virtue of its ownership of all the outstanding common stock of Associated Madison and CII (collectively, the "Reporting Persons," and each a "Reporting Person"). As of August 20, 2002, (i) CAI manages investments on behalf of TAP and Citigroup and (ii) TAP is no longer a majority owned subsidiary of CIHC. Attached as Schedule A is information concerning each executive officer and director of TIC, Travelers Indemnity, CAI and Citigroup. Schedule A is incorporated into and made a part of this Schedule 13D. (b) The address of the principal business and principal place of business of each of TIC, Travelers Indemnity, TIGHI and TAP is One Tower Square, Hartford, Connecticut 06183. The address and principal place of business of CIHC is 3120 Breckinridge Boulevard, Duluth, Georgia 30199. The address and principal place of business of each of CAI, CII, Associated Madison and Citigroup is 399 Park Avenue, New York, New York 10043. (c) TIC's principal business is life insurance. Travelers Indemnity's principal business is property and casualty insurance. TIGHI and TAP are holding companies principally engaged, through their subsidiaries, in property and casualty insurance. CAI is an investment adviser, registered under Section 203 of the Investment Advisers Act of 1940, principally engaged investment management. CII is a holding company principally engaged, through its subsidiaries, in financial management and other related services. CIHC and Associated Madison are holding companies principally engaged, through their subsidiaries, in insurance and related financial services. Citigroup is a diversified holding company providing, through its subsidiaries, a broad range of financial services to consumer and corporate customers worldwide. (d) During the last five years, none of the Reporting Persons, nor, to the knowledge of each Reporting Person, any of their respective officers, directors or controlling persons has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) During the last five years, none of the Reporting Persons, nor, to the knowledge of each Reporting Person, any of their respective officers, directors or controlling persons has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining 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) Each of TIC, Travelers Indemnity and TAP is a Connecticut corporation. CIHC is a Georgia corporation. Each of CAI, CII, TIGHI, Associated Madison and Citigroup is a Delaware corporation. Except as otherwise indicated on Schedule A, to the knowledge of each Reporting Person, each executive officer and director named in Schedule A to this Schedule 13D are citizens of the United States. 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 percentage calculations in Item 5 of this Schedule 13D are based upon 55,802,118 shares of Common Stock outstanding based on the Company's Form 10-Q filed on August 13, 2002. (a) TIC. As of August 20, 2002, TIC beneficially owns 10,958,572, or 16.8%, of the Company's Common Stock, as follows: (i) TIC is the direct beneficial owner of 1,600,000 shares of Common Stock; (ii) TIC is the indirect beneficial owner of 400,000 shares of Common Stock through ownership of 400,000 Preferred Stock Purchase Units, each of which may be converted into one share of Common Stock at any time; (iii) TIC is the indirect beneficial owner of 30,000 shares of Common Stock through ownership of stock options the Company granted to Jack L, Rivkin, a member of the Company's Board of Directors, at a time when Mr. Rivkin was an employee of a subsidiary of Citigroup (Mr. Rivkin has assigned his interest in the options to TIC); (iv) TIC is the indirect beneficial owner of 3,571,429 shares of Common Stock through ownership of 3,571,429 shares of the Company's Series C-VI Preferred Stock, each of which may be exchanged, subject to certain conditions, for one share of Common Stock; and (v) TIC is the indirect beneficial owner of 5,357,143 shares of Common Stock through ownership of 5,357,143 Series C-VI Warrants, each of which may be exchanged, subject to certain conditions, for one share of Common Stock at an exercise price of $0.56 per share. TIC disclaims beneficial ownership of the 11,786,995 shares of Common Stock held by Travelers Indemnity and the 6,750 shares of Common Stock held by other subsidiaries of Citigroup. TRAVELERS INDEMNITY. As of August 20, 2002, Travelers Indemnity beneficially owns 11,786,995 shares, or 18.0%, of the Company's Common Stock, as follows: (i) Travelers Indemnity is the direct beneficial owner of 2,039,292 shares of Common Stock; (ii) Travelers Indemnity is the indirect beneficial owner of 2,578,947 shares of Common Stock through ownership of 2,578,947 shares of Series C-IV Preferred Stock, each of which may be converted into one share of Common Stock at any time; (iii) Travelers Indemnity is the indirect beneficial owner of 644,741 shares of Common Stock through ownership of 644,741 Series C-IV Warrants, each of which may be exchanged, subject to certain conditions, for one share of Common Stock at an exercise price of $2.65 per share; (iv) Travelers Indemnity is the indirect beneficial owner of 5,227,552 shares of Common Stock through ownership of 5,227,552 shares of Series C-V Preferred Stock, each of which may be converted into one share of Common Stock at any time; and (v) Travelers Indemnity is the indirect beneficial owner of 1,296,463 shares of Common Stock through ownership of 1,296,463 Series C-V Warrants, each of which may be exchanged, subject to certain conditions, for one share of Common Stock at an exercise price of $1.14 per share. Travelers Indemnity disclaims beneficial ownership of the 10,958,572 shares of Common Stock held by TIC and the 6,750 shares of Common Stock held by other subsidiaries of Citigroup. CAI. As of August 20, 2002, CAI indirectly beneficially owns, by virtue of its management of investments for the benefit of TAP, 11,786,995 shares, of 18.0%, of Common Stock representing the Common Stock beneficially owned by Travelers Indemnity. CAI disclaims beneficial ownership of the 10,958,572 shares of Common Stock held by TIC and the 6,750 shares of Common Stock held by other subsidiaries of Citigroup. CII, TIGHI AND TAP. As of August 20, 2002, each of CII, TIGHI and TAP indirectly beneficially owns, exclusively through their holding company structures, 11,786,995 shares, or 18.0%, of Common Stock representing the Common Stock beneficially owned by Travelers Indemnity. Each of CII, TIGHI and TAP disclaims beneficial ownership of the 10,958,572 shares of Common Stock held by TIC and the 6,750 shares of Common Stock held by other subsidiaries of Citigroup. CIHC AND ASSOCIATED MADISON. As of August 20, 2002, each of CIHC and Associated Madison indirectly beneficially owns, exclusively through their holding company structures, 10,958,572 shares, or 16.8.4%, of Common Stock representing the Common Stock beneficially owned by TIC. Each of CIHC and Associated Madison disclaims beneficial ownership of the 11,786,995 shares of Common Stock held by Travelers Indemnity and the 6,750 shares of Common Stock held by other subsidiaries of Citigroup. CITIGROUP. As of August 20, 2002, Citigroup indirectly beneficially owns, exclusively through its holding company structure, 22,752,317 shares, or 30.4%, of Common Stock, representing (i) 10,958,572 shares beneficially owned by TIC, (ii) 11,786,995 shares beneficially owned by Travelers Indemnity and (iii) 6,750 shares beneficially owned by other subsidiaries of Citigroup. (b) TIC, CAI, CII, CIHC, Associated Madison and Citigroup may be deemed to share the voting and dispositive power of 10,958,572 shares of Common Stock beneficially owned by TIC. Travelers Indemnity, TIGHI, TAP, CAI, CII, and Citigroup may be deemed to share the voting and dispositive power of 11,786,995 shares of Common Stock beneficially owned by Travelers Indemnity. Citigroup maybe deemed to share the voting and dispositive power of 6,750 shares of Common Stock beneficially owned by other subsidiaries of Citigroup. This Schedule 13D is being filed because of TIGHI's 100% ownership interest in Travelers Indemnity, TAP's 100% ownership interest in TIGHI, CIHC's 100% ownership interest in TIC, Associated Madison's 100% ownership interest in CIHC, CAI's role as an investment adviser to Travelers Indemnity and TIC, CII's 100% ownership interest in CAI and Citigroup's 100% ownership interest in Associated Madison and CII. (c) The Reporting Persons effected the following transactions in shares of Common Stock during the past 60 days: TRAVELERS INDEMNITY. Travelers Indemnity sold in open market transactions 103,300 shares of Common Stock as follows: TRADE DATE SHARES PRICE ---------- ------ ----- 06/07/2002 38,500 0.33 06/10/2002 20,500 0.33 06/11/2002 8,900 0.32 06/13/2002 17,000 0.30 06/17/2002 13,500 0.30 06/18/2002 2,500 0.31 06/21/2002 2,400 0.30 ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. EXHIBIT DESCRIPTION - ------- ----------- 1 Joint Filing Agreement among the Reporting Persons 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 30, 2002 The Travelers Indemnity Company ------------------------------- By: /s/ Paul Eddy --------------------------- Name: Paul Eddy Title: Assistant Secretary Travelers Insurance Group Holdings Inc. --------------------------------------- By: /s/ Paul Eddy --------------------------- Name: Paul Eddy Title: Assistant Secretary Travelers Property Casualty Corp. --------------------------------- By: /s/ Paul Eddy --------------------------- Name: Paul Eddy Title: Assistant Secretary Citigroup Alternative Investments LLC --------------------------------- By: /s/ Millie Kim --------------------------- Name: Millie Kim Title: Secretary Citigroup Investments Inc. --------------------------------- By: /s/ Millie Kim --------------------------- Name: Millie Kim Title: Secretary The Travelers Insurance Company ------------------------------- By: /s/ Joseph B. Wollard --------------------------- Name: Joseph B. Wollard Title: Assistant Secretary Citigroup Insurance Holding Corporation --------------------------------------- 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 EXHIBIT LIST EXHIBIT DESCRIPTION - ------- ----------- 1 Joint Filing Agreement among the Reporting Persons SCHEDULE A ---------- THE TRAVELERS INDEMNITY COMPANY NAME TITLE - ---- ----- Jay S. Benet Director and Executive Officer Charles J. Clarke Director and Executive Officer Douglas G. Elliott Director and Executive Officer Joseph P. Lacher, Jr. Director and Executive Officer Brian W. MacLean Director and Executive Officer James M. Michener Director and Executive Officer Peter N. Higgins Executive Officer Diana E. Beecher Executive Officer Susan Stonehill Claflin Executive Officer David A. Tyson Executive Officer F. Denney Voss Executive Officer W. Douglas Willett Executive Officer SCHEDULE A ---------- TRAVELERS INSURANCE COMPANY NAME TITLE - ---- ----- George C. Kokulis Director and Executive Officer Glenn D. Lammey Director and Executive Officer Marla B. Lewitus Director and Executive Officer Kathleen A. Preston Director and Executive Officer Stuart L. Baritz Executive Officer Edward W. Cassidy Executive Officer Madelyn J. Lankton Executive Officer Brendan M. Lynch Executive Officer Laura A. Pantaleo Executive Officer David A. Tyson Executive Officer F. Denney Voss Executive Officer SCHEDULE A ---------- CITIGROUP ALTERNATIVE INVESTMENTS LLC NAME TITLE - ---- ----- Ahmed Fahour Director and Executive Officer Bruce Zimmerman Director and Executive Officer Millie Kim Executive Officer SCHEDULE A ---------- CITIGROUP INC. NAME TITLE - ---- ----- C. Michael Armstrong Director Alain J.P. Belda Director (Brazil) George David Director Kenneth T. Derr Director John M. Deutch Director The Honorable Gerald R. Ford Honorary Director Alfredo Harp Helu Director (Mexico) Roberto Hernandez Ramirez Director (Mexico) Ann Dibble Jordan Director Reuben Mark Director Michael T. Masin Director Dudley C. Mecum Director Richard D. Parsons Director Andrall E. Pearson Director Robert E. Rubin Director and Executive Officer Franklin A. Thomas Director Sanford I. Weill Director and Executive Officer Arthur Zankel Director Winfried F.W. Bischoff Executive Officer (United Kingdom and Germany) Michael A. Carpenter Executive Officer Stanley Fischer Executive Officer Thomas Wade Jones Executive Officer Deryck C. Maughan Executive Officer (United Kingdom) Victor J. Menezes Executive Officer Charles O. Prince, III Executive Officer William R. Rhodes Executive Officer Todd S. Thomson Executive Officer Robert B. Willumstad Executive Officer EX-99.1 3 a2088542zex-99_1.txt EXHIBIT 99.1 EXHIBIT 99.1 AGREEMENT AS TO JOINT FILING OF SCHEDULE 13D The undersigned hereby agree that: (i) each of them is individually eligible to use the Schedule 13D attached hereto; (ii) the attached Schedule 13D is filed on behalf of each of them; and (iii) each of them is responsible for the timely filing of such Schedule 13D and any amendments thereto, and for the completeness and accuracy of the information therein concerning him or itself; but none of them is responsible for the completeness or accuracy of the information concerning the other persons making the filing, unless he or it knows or has reason to believe that such information is inaccurate. Dated: August 30, 2002 THE TRAVELERS INDEMNITY COMPANY By: /s/ PAUL EDDY ----------------------------- Name: Paul Eddy Title: Assistant Secretary TRAVELERS PROPERTY CASUALTY CORP. By: /s/ PAUL EDDY ----------------------------- Name: Paul Eddy Title: Assistant Secretary TRAVELERS INSURANCE GROUP HOLDINGS INC. By: /s/ PAUL EDDY ----------------------------- Name: Paul Eddy Title: Assistant Secretary CITIGROUP ALTERNATIVE INVESTMENTS LLC By: /s/ MILLIE KIM - ----------------------------- Name: MILLIE KIM Title: Assistant Secretary CITIGROUP INVESTMENTS INC. By: /s/ MILLIE KIM - ----------------------------- Name: MILLIE KIM Title: Assistant Secretary THE TRAVELERS INSURANCE COMPANY By: /s/ JOSEPH B. WOLLARD ----------------------------- Name: Joseph B. Wollard Title: Assistant Secretary CIITGROUP INSURANCE HOLDING CORPORATION 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 -----END PRIVACY-ENHANCED MESSAGE-----