SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G

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

                       MERCATOR PARTNERS ACQUISITION CORP.
                                (Name of Issuer)


                                  Common Stock
                         (Title of Class of Securities)

                                   587586 108
                                 (CUSIP Number)

                                 April 15, 2005
              (Date of Event Which Requires Filing 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. 587586 108                                           Page 2 of 6 Pages

1.  NAME  OF  REPORTING   PERSON                    PENTAGRAM   PARTNERS,   L.P.
    S.S.  OR  I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

2.  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                    a   [ ]
                                                                         b   [ ]

3.  SEC USE ONLY

4.  CITIZENSHIP OR PLACE OF ORGANIZATION

        New York
- --------------------------------------- ----------------------------------------
                                        5. SOLE VOTING POWER

                 NUMBER OF                 113,800
                  SHARES                ----------------------------------------
               BENEFICIALLY             6. SHARED VOTING POWER
                  OWNED
                 BY EACH                   0
                REPORTING               ----------------------------------------
               PERSON WITH              7. SOLE DISPOSITIVE POWER

                                           113,800
                                        ----------------------------------------
                                        8. SHARED DISPOSITIVE POWER

                                           0
- --------------------------------------------------------------------------------
9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    113,800

10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]

11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
    9.89565%

12. TYPE OF REPORTING PERSON*
    PN

                      *SEE INSTRUCTION BEFORE FILLING OUT!







ITEM 1.  NAME AND ADDRESS OF ISSUER

     (a) Mercator Partners Acquisition Corp.

     (b) One Fountain  Square
         11911 Freedom Drive,  Suite 1080
         Reston,  Virginia 20190

ITEM 2.  NAME, ADDRESS AND CITIZENSHIP OF PERSON FILING; CLASS OF SECURITIES AND
         CUSIP NUMBER

     (a) Pentagram Partners, L.P.

     (b) 630 Fifth Avenue, 20th Floor, New York, NY 10111

     (c) Pentagram Partners, L.P. is a New York partnership.

     (d) Common Stock

     (e) CUSIP Number: 587586 103

ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR 13D-2(B), CHECK
        WHETHER THE PERSON FILING IS A:

(a) [ ] Broker or Dealer registered under Section 15 of the Act;

(b) [ ] Bank is defined in Section 3(a)(6) of the Act;

(c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act;

(d) [ ] Investment Company registered under Section 8 of the Investment Company
        Act;

(e) [ ] Investment Adviser registered under Section 203 of the Investment
        Advisers Act of 1940;

(f) [ ] Employee  Benefit Plan,  Pension Fund which is subject to the provisions
        of the Employee  Retirement  Income  Security Act of 1974 or Endowment
        Fund; see ss.240.13d-1(b)(1)(ii)(F);

(g) [ ] Parent Holding Company, in accordance with  ss.240.13d-1(b)(ii)(G)(Note:
        See Item 7);

(h) [ ] Group, in accordance with ss.240.13d-1(b)(1)(ii)(H);

(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;

(j) [ ] Group, in accordance with ss. 240.13d-1(b)(1)(ii)(J).




ITEM 4.   OWNERSHIP

     (a)  On April 15, 2005, in connection  with a public offering of securities
          by Mercator Partners Acquisition Corp. (the "Company"),  the Reporting
          Person purchased  56,900 Series A Units of the Company.  Each Series A
          Unit  consists of: (i) two shares of Common  Stock,  (ii) five Class W
          Warrants and (iii) five Class Z Warrants. Each component of a Series A
          Unit may not trade separately  until July 11, 2005,  without the prior
          approval of the underwriter of the Offering.  Each Class W Warrant and
          each Class Z Warrant  will  become  exercisable  into one share of the
          Common Stock,  par value  $.0001,  upon the later of (a) the Company's
          completion of a business combination or (b) April 11, 2006.

          According to the Form 8-K filed by the Company on March 21, 2005, each
          of the (i) Series A Units,  (ii) Series B Units,  (iii) Common  Stock,
          (iv)  Class B Common  Stock,  (v) Class W  Warrants,  and (vi) Class Z
          Warrants is registered under Section 12(g) of the Securities  Exchange
          Act of 1934.  Each  share of Common  Stock  and  Class B Common  Stock
          entitles its holder to one vote per share. The Series A Units,  Series
          B Units,  the Class W  Warrants,  and the Class Z Warrants do not have
          voting rights.  Pursuant to Rule 13d-1(i),  this Schedule 13G does not
          include the non-voting securities of the Company held by the Reporting
          Person. Pursuant to Rule 13d-1(a), the Reporting Peron is not required
          to report the beneficial  ownership of any class which is five percent
          or less.

     (b)  The  Reporting  person's  percentage  of  ownership is 9.89565% of the
          total  outstanding  shares of Common Stock.  This  percentage is based
          upon the 1,150,000  shares of Common Stock issued and outstanding (the
          number of shares of Common Stock  reported in the  Company's  Form 8-K
          filed on April 15, 2005).

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

          (i)   sole power to vote or to direct the vote:                113,800
          (ii)  shared power to vote or to direct the vote:                    0
          (iii) sole power to dispose or to direct the disposition of:   113,800
          (iv)  shared power to dispose or to direct the disposition of:       0

ITEM 5.   OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

          If this  Statement  is being  filed to report  the fact that as of the
          date hereof the reporting person has ceased to be the beneficial owner
          of more  than  five  percent  of the  class of  securities,  check the
          following: [ ].




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 transactions having that purposes 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.


                                          PENTAGRAM PARTNERS, L.P.,
                                          a New York Limited Partnership



Date:  April 28, 2005                     /s/ Richard Jacinto, II
                                          ------------------------------
                                          Richard Jacinto, II,
                                          General Partner