SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
SCHEDULE
13D
|
Under
the Securities Exchange Act of 1934 (Amendment No. --)*
|
(Name
of Issuer)
|
Points
International Limited
|
(Title
of Class of Securities)
|
COMMON
STOCK
|
(CUSIP
Number)
|
73084310
|
(Name,
Address and Telephone Number of Person Authorized to Receive Notices
and
Communications)
|
D.
JONATHAN MERRIMAN
MERRIMAN
CURHAN FORD & Co.
600
CALIFORNIA
9TH
FLOOR
SAN
FRANCISCO, CALIFORNIA 94108
(415)
248-5600
|
August
8, 2006
|
CUSIP
No. 73084310
|
___________________________________________________________________________________
I.R.S.
Identification Nos. of above persons (entities only)
Merriman
Curhan Ford & Co. 95-4068105
|
___________________________________________________________________________________
(a)X.......................................................................................................
(b)
.........................................................................................................
|
___________________________________________________________________________________
|
___________________________________________________________________________________
|
___________________________________________________________________________________
|
___________________________________________________________________________________
California
|
___________________________________________________________________________________
Number
of shares beneficially owned by each reporting person
with:...............................................
|
____________________________________________________________
|
____________________________________________________________
|
____________________________________________________________
|
____________________________________________________________
|
___________________________________________________________________________________
|
___________________________________________________________________________________
|
___________________________________________________________________________________
|
___________________________________________________________________________________
(14)Type
of Reporting Person (See Instructions)
BD................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
|
CUSIP
No. 73084310
|
___________________________________________________________________________________
(1)
Names of reporting persons
I.R.S.
Identification Nos. of above persons (entities only)
D.
Jonathan Merriman
|
___________________________________________________________________________________
(2)
Check the appropriate box if a member of a group (see instructions)
(a)X.........................................................................................................
(b)
.........................................................................................................
|
___________________________________________________________________________________
(3)
SEC use only
......................................................................................
|
___________________________________________________________________________________
(4)
Source of funds (see instructions) PF
|
___________________________________________________________________________________
(5)
Check if disclosure of legal proceedings is required pursuant to
Items
2(d) or 2(e)....
|
___________________________________________________________________________________
(6)
Citizenship or place of organization
California
|
___________________________________________________________________________________
Number
of shares beneficially owned by each reporting person
with:................................................
|
____________________________________________________________
(7)Sole
Voting Power 2,757,200 SHARES
|
____________________________________________________________
(8)Shared
Voting Power 0 SHARES
|
____________________________________________________________
(9)Sole
Dispositive Power 2,757,200 SHARES
|
____________________________________________________________
(10)Shared
Dispositive Power 0 SHARES
|
___________________________________________________________________________________
(11)Aggregate
Amount Beneficially Owned by Each Reporting Person 2,757,200
SHARES
|
___________________________________________________________________________________
(12)Check
if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
|
___________________________________________________________________________________
(13)Percent
of Class Represented by Amount in Row (11) 2.9%
|
___________________________________________________________________________________
(14)Type
of Reporting Person (See Instructions)
IN..................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
|
CUSIP
No. 73084310
|
___________________________________________________________________________________
(1)
Names of reporting persons
I.R.S.
Identification Nos. of above persons (entities only)
Phineus
Voyager Fund 71-0869737
|
___________________________________________________________________________________
(2)
Check the appropriate box if a member of a group (see instructions)
(a)X.........................................................................................................
(b)
.........................................................................................................
|
___________________________________________________________________________________
(3)
SEC use only
......................................................................................
|
___________________________________________________________________________________
(4)
Source of funds (see instructions) WC
|
___________________________________________________________________________________
(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 beneficially owned by each reporting person
with:................................................
|
____________________________________________________________
(7)Sole
Voting Power 171,500 SHARES
|
____________________________________________________________
(8)Shared
Voting Power 0 SHARES
|
____________________________________________________________
(9)Sole
Dispositive Power 171,500 SHARES
|
____________________________________________________________
(10)Shared
Dispositive Power 0 SHARES
|
___________________________________________________________________________________
(11)Aggregate
Amount Beneficially Owned by Each Reporting Person 171,500
SHARES
|
___________________________________________________________________________________
(12)Check
if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
|
___________________________________________________________________________________
(13)Percent
of Class Represented by Amount in Row (11) 0.2%
|
___________________________________________________________________________________
(14)Type
of Reporting Person (See Instructions)
PN..................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
|
CUSIP
No. 73084310
|
___________________________________________________________________________________
(1)
Names of reporting persons
I.R.S.
Identification Nos. of above persons (entities only)
|
Tamalpais
Master Fund, Ltd. 98-0438376
___________________________________________________________________________________
(2)
Check the appropriate box if a member of a group (see instructions)
(a)X.........................................................................................................
(b)
.........................................................................................................
|
___________________________________________________________________________________
(3)
SEC use only
......................................................................................
|
___________________________________________________________________________________
(4)
Source of funds (see instructions) WC
|
___________________________________________________________________________________
(5)
Check if disclosure of legal proceedings is required pursuant to
Items
2(d) or 2(e)....
|
___________________________________________________________________________________
(6)
Citizenship or place of organization
Caymen
Islands
|
___________________________________________________________________________________
Number
of shares beneficially owned by each reporting person
with:...............................................
|
____________________________________________________________
(7)Sole
Voting Power 4,002,735 SHARES
|
____________________________________________________________
(8)Shared
Voting Power 0 SHARES
|
____________________________________________________________
(9)Sole
Dispositive Power 4,002,735 SHARES
|
____________________________________________________________
(10)Shared
Dispositive Power 0 SHARES
|
___________________________________________________________________________________
(11)Aggregate
Amount Beneficially Owned by Each Reporting Person 4,002,735
SHARES
|
___________________________________________________________________________________
(12)Check
if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
|
___________________________________________________________________________________
(13)Percent
of Class Represented by Amount in Row (11) 4.3%
|
___________________________________________________________________________________
(14)Type
of Reporting Person (See Instructions)
CO..................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
|
CUSIP
No. 73084310
|
___________________________________________________________________________________
(1)
Names of reporting persons
I.R.S.
Identification Nos. of above persons (entities only)
Tamalpais
Management Group LP 20-3625315
|
___________________________________________________________________________________
(2)
Check the appropriate box if a member of a group (see instructions)
(a)X.........................................................................................................
(b)
.........................................................................................................
|
___________________________________________________________________________________
(3)
SEC use only
......................................................................................
|
___________________________________________________________________________________
(4)
Source of funds (see instructions) WC
|
___________________________________________________________________________________
(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 beneficially owned by each reporting person
with:................................................
|
____________________________________________________________
(7)Sole
Voting Power 4,002,735 SHARES
|
____________________________________________________________
(8)Shared
Voting Power 0 SHARES
|
____________________________________________________________
(9)Sole
Dispositive Power 4,002,735 SHARES
|
____________________________________________________________
(10)Shared
Dispositive Power 0 SHARES
|
___________________________________________________________________________________
(11)Aggregate
Amount Beneficially Owned by Each Reporting Person 4,002,735
SHARES
|
___________________________________________________________________________________
(12)Check
if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
|
___________________________________________________________________________________
(13)Percent
of Class Represented by Amount in Row (11) 4.3%
|
___________________________________________________________________________________
(14)Type
of Reporting Person (See Instructions)
PN..................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
............................................................................................................................
|
......................................................................................................................
Date
By:
Merriman Curhan Ford & Co.
|
......................................................................................................................
Signature
|
/s/
D. Jonathan Merriman
Name/Title:
D. Jonathan Merriman, Chairman and Chief Executive
Officer
|
......................................................................................................................
Signature
|
/s/
D. Jonathan Merriman
Name/Title:
D. Jonathan Merriman, an individual
|
......................................................................................................................
Signature
|
/s/
Michael Grant
Name/Title:
Michael Grant, Portfolio Manager
|
......................................................................................................................
Signature
|
/s/
Steven Ledger
Name/Title:
Steven Ledger, Managing Partner
|
By:
Tamalpais Management Group LP
......................................................................................................................
Signature
|
/s/
Steven Ledger
Name/Title:
Steven Ledger, Managing Partner
|
Trade
Date
|
Quantity
|
Price
|
6/8/2006
|
75,500
|
0.6512
|
6/9/2006
|
50,000
|
0.65
|
6/12/2006
|
25,000
|
0.6506
|
6/13/2006
|
39,677
|
0.64
|
6/14/2006
|
25,000
|
0.65
|
6/14/2006
|
7,500
|
0.63
|
6/14/2006
|
27,500
|
0.64
|
6/15/2006
|
20,000
|
0.66
|
6/15/2006
|
41,500
|
0.64
|
6/16/2006
|
(100,000)
|
0.63
|
6/16/2006
|
5,500
|
0.63
|
6/16/2006
|
44,500
|
0.64
|
6/16/2006
|
20,000
|
0.65
|
6/16/2006
|
10,500
|
0.68
|
6/16/2006
|
1,500
|
0.67
|
6/16/2006
|
8,000
|
0.66
|
6/19/2006
|
22,184
|
0.63
|
6/21/2006
|
17,000
|
0.63
|
6/21/2006
|
25,000
|
0.64
|
6/22/2006
|
90,000
|
0.62
|
6/22/2006
|
26,000
|
0.63
|
6/23/2006
|
(100,000)
|
0.63
|
6/23/2006
|
6,139
|
0.61
|
6/23/2006
|
2,500
|
0.61
|
6/23/2006
|
25,000
|
0.62
|
6/28/2006
|
(100,000)
|
0.59
|
6/28/2006
|
13,000
|
0.6
|
6/28/2006
|
12,000
|
0.598
|
6/28/2006
|
75,000
|
0.59
|
6/29/2006
|
(100,000)
|
0.595
|
6/29/2006
|
25,000
|
0.62
|
6/29/2006
|
16,000
|
0.62
|
6/29/2006
|
9,000
|
0.625
|
6/30/2006
|
2,500
|
0.61
|
6/30/2006
|
17,500
|
0.62
|
6/30/2006
|
20,000
|
0.63
|
7/7/2006
|
(244,500)
|
0.64
|
7/7/2006
|
4,000
|
0.68
|
7/7/2006
|
1,000
|
0.67
|
7/7/2006
|
25,000
|
0.65
|
7/7/2006
|
67,400
|
0.64
|
7/10/2006
|
9,500
|
0.67
|
7/11/2006
|
10,000
|
0.675
|
7/11/2006
|
11,500
|
0.65
|
7/11/2006
|
500
|
0.65
|
7/11/2006
|
20,000
|
0.66
|
7/12/2006
|
(398,084)
|
0.663
|
7/12/2006
|
10,000
|
0.669
|
7/12/2006
|
25,000
|
0.665
|
7/12/2006
|
25,000
|
0.664
|
7/12/2006
|
75,000
|
0.665
|
7/12/2006
|
25,000
|
0.667
|
7/13/2006
|
10,500
|
0.665
|
7/13/2006
|
10,000
|
0.669
|
7/13/2006
|
5,000
|
0.668
|
7/13/2006
|
33,000
|
0.66
|
7/13/2006
|
10,000
|
0.664
|
7/13/2006
|
25,000
|
0.665
|
7/13/2006
|
10,000
|
0.67
|
7/13/2006
|
10,000
|
0.689
|
7/14/2006
|
(17,500)
|
0.69
|
7/14/2006
|
(30,000)
|
0.681
|
7/14/2006
|
5,000
|
0.704
|
7/14/2006
|
25,000
|
0.7
|
7/14/2006
|
3,500
|
0.7
|
7/14/2006
|
25,000
|
0.665
|
7/17/2006
|
45,000
|
0.71
|
7/17/2006
|
20,000
|
0.72
|
7/17/2006
|
10,000
|
0.73
|
7/18/2006
|
10,000
|
0.74
|
7/18/2006
|
16,000
|
0.73
|
7/18/2006
|
4,000
|
0.72
|
7/18/2006
|
2,500
|
0.713
|
7/18/2006
|
2,500
|
0.72
|
7/19/2006
|
(100,000)
|
0.7
|
7/19/2006
|
54,184
|
0.71
|
7/19/2006
|
14,000
|
0.7
|
7/19/2006
|
30,000
|
0.72
|
7/19/2006
|
5,000
|
0.72
|
7/20/2006
|
2,500
|
0.71
|
7/20/2006
|
14,500
|
0.7
|
7/21/2006
|
25,000
|
0.7
|
7/21/2006
|
10,000
|
0.705
|
7/21/2006
|
10,000
|
0.715
|
7/24/2006
|
(100,000)
|
0.68
|
7/24/2006
|
24,000
|
0.685
|
7/24/2006
|
10,000
|
0.69
|
7/24/2006
|
5,000
|
0.71
|
7/24/2006
|
5,000
|
0.699
|
7/25/2006
|
15,000
|
0.685
|
7/25/2006
|
20,000
|
0.69
|
7/26/2006
|
2,000
|
0.65
|
7/26/2006
|
10,000
|
0.66
|
7/26/2006
|
8,200
|
0.67
|
7/26/2006
|
6,800
|
0.68
|
7/27/2006
|
7,000
|
0.69
|
7/27/2006
|
10,000
|
0.68
|
7/28/2006
|
1,000
|
0.69
|
7/31/2006
|
4,275
|
0.7
|
7/31/2006
|
5,725
|
0.69
|
8/1/2006
|
10,000
|
0.69
|
8/2/2006
|
(20,000)
|
0.7
|
8/2/2006
|
20,000
|
0.7
|
8/3/2006
|
(44,500)
|
0.7
|
8/4/2006
|
(40,500)
|
0.7
|
8/4/2006
|
20,000
|
0.714
|
8/4/2006
|
17,500
|
0.704
|
Trade
Date
|
Quantity
|
Price
|
6/20/2006
|
2,500.00
|
0.65
|
6/21/2006
|
10,000.00
|
0.65
|
6/21/2006
|
6,500.00
|
0.66
|
6/21/2006
|
8,500.00
|
0.66
|
6/22/2006
|
5,000.00
|
0.63
|
6/23/2006
|
5,000.00
|
0.61
|
6/23/2006
|
5,000.00
|
0.61
|
6/23/2006
|
5,000.00
|
0.615
|
6/23/2006
|
5,000.00
|
0.615
|
6/23/2006
|
5,000.00
|
0.62
|
6/23/2006
|
5,000.00
|
0.62
|
6/23/2006
|
5,000.00
|
0.62
|
6/23/2006
|
5,000.00
|
0.62
|
6/23/2006
|
5,000.00
|
0.62
|
6/23/2006
|
5,000.00
|
0.62
|
6/23/2006
|
2,500.00
|
0.62
|
6/23/2006
|
2,500.00
|
0.62
|
6/23/2006
|
25,000.00
|
0.63
|
6/26/2006
|
5,000.00
|
0.61
|
6/26/2006
|
5,000.00
|
0.61
|
6/26/2006
|
5,000.00
|
0.61
|
6/26/2006
|
10,000.00
|
0.61
|
6/27/2006
|
7,500.00
|
0.6
|
6/27/2006
|
500
|
0.605
|
6/27/2006
|
2,000.00
|
0.605
|
6/27/2006
|
500
|
0.605
|
6/27/2006
|
500
|
0.605
|
6/27/2006
|
500
|
0.604
|
6/27/2006
|
1,000.00
|
0.604
|
6/27/2006
|
5,000.00
|
0.604
|
6/27/2006
|
5,000.00
|
0.605
|
6/27/2006
|
5,000.00
|
0.605
|
6/27/2006
|
15,000.00
|
0.605
|
6/28/2006
|
5,500.00
|
0.59
|
6/28/2006
|
2,500.00
|
0.592
|
6/28/2006
|
5,000.00
|
0.592
|
6/28/2006
|
10,000.00
|
0.592
|
6/28/2006
|
5,000.00
|
0.592
|
6/28/2006
|
2,500.00
|
0.59
|
6/28/2006
|
25,000.00
|
0.59
|
6/28/2006
|
5,000.00
|
0.595
|
6/28/2006
|
5,000.00
|
0.595
|
6/28/2006
|
15,000.00
|
0.595
|
6/28/2006
|
23,500.00
|
0.6
|
6/28/2006
|
1,500.00
|
0.6
|
6/28/2006
|
5,000.00
|
0.605
|
6/28/2006
|
20,000.00
|
0.605
|
6/29/2006
|
5,000.00
|
0.62
|
6/29/2006
|
5,000.00
|
0.61
|
6/29/2006
|
2,500.00
|
0.605
|
6/29/2006
|
2,500.00
|
0.605
|
6/29/2006
|
5,000.00
|
0.6
|
6/29/2006
|
40,000.00
|
0.595
|
6/30/2006
|
3,500.00
|
0.66
|
6/30/2006
|
5,000.00
|
0.66
|
6/30/2006
|
2,000.00
|
0.64
|
6/30/2006
|
2,000.00
|
0.64
|
6/30/2006
|
2,500.00
|
0.64
|
6/30/2006
|
5,000.00
|
0.632
|
6/30/2006
|
5,000.00
|
0.632
|
7/5/2006
|
4,500.00
|
0.65
|
7/5/2006
|
500
|
0.65
|
7/5/2006
|
2,000.00
|
0.65
|
7/5/2006
|
4,000.00
|
0.65
|
7/5/2006
|
4,000.00
|
0.65
|
7/6/2006
|
2,500.00
|
0.65
|
7/6/2006
|
3,000.00
|
0.63
|
7/6/2006
|
5,000.00
|
0.64
|
7/24/2006
|
6,500.00
|
0.7
|
8/2/2006
|
5,000.00
|
0.71
|
8/2/2006
|
10,000.00
|
0.7
|
8/2/2006
|
10,000.00
|
0.7
|
Trade
Date
|
Quantity
|
Price
|
6/16/2006
|
2,000
|
0.6672
|
6/23/2006
|
100,000
|
0.6202
|
6/23/2006
|
55,000
|
0.6148
|
6/26/2006
|
10,000
|
0.6169
|
6/28/2006
|
125,000
|
0.5987
|
6/28/2006
|
27,500
|
0.5987
|
6/29/2006
|
267,500
|
0.6077
|
6/29/2006
|
9,500
|
0.6186
|
6/30/2006
|
19,000
|
0.6642
|
Trade
Date
|
Quantity
|
Price
|
6/16/2006
|
2,000
|
0.6672
|
6/23/2006
|
100,000
|
0.6202
|
6/23/2006
|
55,000
|
0.6148
|
6/26/2006
|
10,000
|
0.6169
|
6/28/2006
|
125,000
|
0.5987
|
6/28/2006
|
27,500
|
0.5987
|
6/29/2006
|
267,500
|
0.6077
|
6/29/2006
|
9,500
|
0.6186
|
6/30/2006
|
19,000
|
0.6642
|