-----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, IFYdafrFBVPf+tCShORWFji/ek8hDNcZjDMDjFNUS3NZDM5iwBydt/4BLmiVBb9W QK1hpcZeu1AsznzpqfcHMA== 0001411686-09-000096.txt : 20090326 0001411686-09-000096.hdr.sgml : 20090326 20090326150516 ACCESSION NUMBER: 0001411686-09-000096 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20090326 DATE AS OF CHANGE: 20090326 GROUP MEMBERS: HARLAN B. KORENVAES GROUP MEMBERS: KORENVAES CAPITAL PARTNERS LP GROUP MEMBERS: KORENVAES LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Pinpoint Advance CORP CENTRAL INDEX KEY: 0001377490 STANDARD INDUSTRIAL CLASSIFICATION: BLANK CHECKS [6770] IRS NUMBER: 331144642 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-82827 FILM NUMBER: 09706429 BUSINESS ADDRESS: STREET 1: 4 MASKIT STREET CITY: HERZELIYA STATE: L3 ZIP: 46700 BUSINESS PHONE: 972-9-9500245 MAIL ADDRESS: STREET 1: 4 MASKIT STREET CITY: HERZELIYA STATE: L3 ZIP: 46700 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Korenvaes Capital Management LP CENTRAL INDEX KEY: 0001416088 IRS NUMBER: 200173173 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 200 CRESCENT COURT STREET 2: SUITE 1070 CITY: DALLAS STATE: TX ZIP: 75201 BUSINESS PHONE: 214-871-8600 MAIL ADDRESS: STREET 1: 200 CRESCENT COURT STREET 2: SUITE 1070 CITY: DALLAS STATE: TX ZIP: 75201 SC 13G 1 form13g.htm SCHEDULE 13G FILED BY KORENVAES CAPITAL MANAGEMENT LP ON 3-26-2009 form13g.htm
 
 
 
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

INFORMATION TO BE INCLUDED IN STATEMENTS FILED
PURSUANT TO RULES 13d-1(b), (c), AND (d) AND AMENDMENTS
THERETO FILED PURSUANT TO RULE 13d-2
 (Amendment No.  )*


Pinpoint Advance Corp.
-------------------------------------------------------------------------------
(Name of Issuer)

Common Stock
-------------------------------------------------------------------------------
(Title of Class of Securities)

723513107
----------------------------------------
(CUSIP Number)

March 24, 2009
-------------------------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

[  ]           Rule 13d-1(b)

[X]           Rule 13d-1(c)

[  ]           Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMD control number.

SEC 1745 (3-06)
 
 

------------------------------------------------------
 
CUSIP No.  723513107
------------------------------------------------------
 
---------------------------------------------------------------------------------------------------------------------------------
1
Names of Reporting Persons
 
 
Korenvaes Capital Management LP
   
---------------------------------------------------------------------------------------------------------------------------------
2
Check the Appropriate Box if a Member of a Group (See Instructions)
 
 
(a)  [   ]
 
(b)  [ X ]
---------------------------------------------------------------------------------------------------------------------------------
3
SEC Use Only
---------------------------------------------------------------------------------------------------------------------------------
4
Citizenship or Place of Organization
 
 
Texas
---------------------------------------------------------------------------------------------------------------------------------
 
Number of
5
Sole Voting Power                   252,020
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Shares
Beneficially
6
Shared Voting Power                    0
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Owned by
Each
7
Sole Dispositive Power            252,020
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Reporting
Person With:
8
Shared Dispositive Power            0
-----------------------------------------------------------------------------------------------------------------------------------------------------------
9
Aggregate Amount Beneficially Owned by Each Reporting Person
 
 
252,020
-----------------------------------------------------------------------------------------------------------------------------------------------------------
10
Check if the Aggregate Amount in Row (9) Excludes Certain Shares  (See Instructions)     [  ]
   
-----------------------------------------------------------------------------------------------------------------------------------------------------------
11
Percent of Class Represented by Amount in Row (9)
 
 
7.2%
-----------------------------------------------------------------------------------------------------------------------------------------------------------
12
Type of Reporting Person (See Instructions)
 
 
IA, PN
-----------------------------------------------------------------------------------------------------------------------------------------------------------
 
 
 
 
 

------------------------------------------------------
 
CUSIP No.  723513107
------------------------------------------------------
 
---------------------------------------------------------------------------------------------------------------------------------
1
Names of Reporting Persons
 
 
Harlan B. Korenvaes
---------------------------------------------------------------------------------------------------------------------------------
2
Check the Appropriate Box if a Member of a Group(See Instructions)
 
 
(a)  [  ]
 
(b)  [ X ]
---------------------------------------------------------------------------------------------------------------------------------
3
SEC Use Only
---------------------------------------------------------------------------------------------------------------------------------
4
Citizenship or Place of Organization
 
 
United States
---------------------------------------------------------------------------------------------------------------------------------
 
Number of
5
Sole Voting Power                252,020
-----------------------------------------------------------------------------------------------------------------------------------------------------
Shares
Beneficially
6
Shared Voting Power                  0
-----------------------------------------------------------------------------------------------------------------------------------------------------
Owned by
Each
7
Sole Dispositive Power         252,020
-----------------------------------------------------------------------------------------------------------------------------------------------------
Reporting
Person With:
8
Shared Dispositive Power          0
-----------------------------------------------------------------------------------------------------------------------------------------------------
9
Aggregate Amount Beneficially Owned by Each Reporting Person
 
 
252,020
-----------------------------------------------------------------------------------------------------------------------------------------------------
10
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  [  ]
   
-----------------------------------------------------------------------------------------------------------------------------------------------------
11
Percent of Class Represented by Amount in Row (9)
 
 
7.2%
-----------------------------------------------------------------------------------------------------------------------------------------------------
12
Type of Reporting Person (See Instructions)
 
 
IN, HC
-----------------------------------------------------------------------------------------------------------------------------------------------------
 
 
 
 
 

------------------------------------------------------
 
CUSIP No.  723513107
------------------------------------------------------
 
---------------------------------------------------------------------------------------------------------------------------------
1
Names of Reporting Persons
 
 
Korenvaes LLC
   
---------------------------------------------------------------------------------------------------------------------------------
2
Check the Appropriate Box if a Member of a Group(See Instructions)
 
 
(a)  [  ]
 
(b)  [ X ]
---------------------------------------------------------------------------------------------------------------------------------
3
SEC Use Only
---------------------------------------------------------------------------------------------------------------------------------
4
Citizenship or Place of Organization
 
 
Texas
---------------------------------------------------------------------------------------------------------------------------------
 
Number of
5
Sole Voting Power                 252,020
------------------------------------------------------------------------------------------------------------------------------------------------------
Shares
Beneficially
6
Shared Voting Power                  0
------------------------------------------------------------------------------------------------------------------------------------------------------
Owned by
Each
7
Sole Dispositive Power          252,020
------------------------------------------------------------------------------------------------------------------------------------------------------
Reporting
Person With:
8
Shared Dispositive Power          0
------------------------------------------------------------------------------------------------------------------------------------------------------
9
Aggregate Amount Beneficially Owned by Each Reporting Person
 
 
252,020
------------------------------------------------------------------------------------------------------------------------------------------------------
10
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  [  ]
   
------------------------------------------------------------------------------------------------------------------------------------------------------
11
Percent of Class Represented by Amount in Row (9)
 
 
7.2%
------------------------------------------------------------------------------------------------------------------------------------------------------
12
Type of Reporting Person (See Instructions)
 
 
OO
------------------------------------------------------------------------------------------------------------------------------------------------------
 
 
 
 
 
 
------------------------------------------------------
 
CUSIP No.  723513107
------------------------------------------------------
 
---------------------------------------------------------------------------------------------------------------------------------
1
Names of Reporting Persons
 
 
Korenvaes Capital Partners LP
   
---------------------------------------------------------------------------------------------------------------------------------
2
Check the Appropriate Box if a Member of a Group(See Instructions)
 
 
(a)  [  ]
 
(b)  [ X ]
---------------------------------------------------------------------------------------------------------------------------------
3
SEC Use Only
---------------------------------------------------------------------------------------------------------------------------------
4
Citizenship or Place of Organization
 
 
Delaware
---------------------------------------------------------------------------------------------------------------------------------
 
Number of
5
Sole Voting Power                         0
------------------------------------------------------------------------------------------------------------------------------------------------------
Shares
Beneficially
6
Shared Voting Power             252,020
------------------------------------------------------------------------------------------------------------------------------------------------------
Owned by
Each
7
Sole Dispositive Power                 0
------------------------------------------------------------------------------------------------------------------------------------------------------
Reporting
Person With:
8
Shared Dispositive Power      252,020
------------------------------------------------------------------------------------------------------------------------------------------------------
9
Aggregate Amount Beneficially Owned by Each Reporting Person
 
 
252,020
------------------------------------------------------------------------------------------------------------------------------------------------------
10
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  [  ]
   
------------------------------------------------------------------------------------------------------------------------------------------------------
11
Percent of Class Represented by Amount in Row (9)
 
 
7.2%
------------------------------------------------------------------------------------------------------------------------------------------------------
12
Type of Reporting Person (See Instructions)
 
 
PN
------------------------------------------------------------------------------------------------------------------------------------------------------
 
 
 
 
 


Item 1(a).
Name of Issuer:
 
Pinpoint Advance Corp.
   
Item 1(b).
Address of Issuer's Principal Executive Offices:
 
4 Maskit Street
 
Herzeliya, Israel 46700
   
Item 2(a).
Name of Person Filing:
 
Korenvaes Capital Management LP, Harlan B. Korenvaes, Korenvaes LLC, and Korenvaes Capital Partners LP.
 
Harlan B. Korenvaes is the managing member and control person of Korenvaes LLC.  Korenvaes LLC is the general partner of Korenvaes Capital Management LP.  Korenvaes Capital Management LP is the general partner and investment manager of Korenvaes Capital Partners LP, a security holder of the issuer.
   
Item 2(b).
Address of Principal Business Office or, if none, Residence:
 
200 Crescent Court, Suite 1070
Dallas, TX 75201
 
Item 2(c).
Citizenship:
 
See the response(s) to Item 4 on the attached cover page(s).
   
Item 2(d).
Title of Class of Securities:
 
Common Stock
   
Item 2(e).
CUSIP Number:
 
723513107
   
Item 3.
If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
 
Not Applicable


 
 
 

Item 4.
Ownership.
                                 Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1:
 
 
 (a)
Amount Beneficially owned:
 
See the response(s) to Item 9 on the attached cover page(s).
 
 
 (b)
Percent of Class:
 
See the response(s) to Item 11 on the attached cover page(s), which was determined by dividing the number of shares beneficially held by the Reporting Person by 3,500,000, the number of shares of common stock issued and outstanding as reported in the Issuer’s Form 10-Q filed with the Securities and Exchange Commission on November 14, 2008.
   
 
 (c)
Number of shares as to which the person has:
 
 
(i)
Sole power to vote or to direct the vote:
   
See the response(s) to Item 5 on the attached cover page(s).
 
 
(ii)
Shared power to vote or to direct the vote:
   
See the response(s) to Item 6 on the attached cover page(s).
 
 
(iii)
Sole power to dispose or to direct the disposition of:
   
See the response(s) to Item 7 on the attached cover page(s).
 
 
(iv)
Shared power to dispose or to direct the disposition of:
  
  
See the response(s) to Item 8 on the attached cover page(s).
 
Item 5.
Ownership of Five Percent or Less of a Class.
 
Not Applicable.
 
Item 6.
Ownership of More Than Five Percent on Behalf of Another Person.
 
Not Applicable.
 
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
 
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.
Certifications.
 
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
 
 
 
 

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 
DATE:
March 26, 2009
    
 
KORENVAES CAPITAL MANAGEMENT LP
  
   
 
By:  KORENVAES LLC
  
 
       General Partner
  
     
 
By: /s/ HARLAN B. KORENVAES
  
   
  Name: Harlan B. Korenvaes   
 
Title:   Managing Member
  
     
     
 
/s/ HARLAN B. KORENVAES
  
     
 
Name: Harlan B. Korenvaes
  
     
     
 
KORENVAES LLC
  
     
 
By: /s/ HARLAN B. KORENVAES
  
     
 
Name: Harlan B. Korenvaes
  
 
Title:   Managing Member
  
     
     
 
KORENVAES CAPITAL PARTNERS LP
  
     
 
By:  KORENVAES CAPITAL MANAGEMENT LP
  
 
        General Partner
  
     
 
By:  KORENVAES LLC
  
 
        General Partner
  
     
 
By: /s/ HARLAN B. KORENVAES
  
     
 
Name: Harlan B. Korenvaes
  
 
Title:   Managing Member
  
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