CUSIP No. 92839Y109

 

  Page 1 of 12 Pages

     
     

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. 2)

VistaCare, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

92839Y109

(CUSIP Number)

December 31, 2004

(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 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.

 

  CUSIP No. 92839Y109

 

  Page 2 of 12 Pages

     
     

1

NAME OF REPORTING PERSON

SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON


ENDOWMENT CAPITAL, L.P.
77-0621714

 

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP  (a) [X]

                                                                                                              (b) [  ]

 

3

SEC USE ONLY

 

 

4

CITIZENSHIP OR PLACE OF ORGANIZATION

DELAWARE

 

NUMBER  OF
 SHARES
BENEFICIALLY
 OWNED  BY
 EACH
 REPORTING
 PERSON  WITH
 

5

SOLE VOTING POWER

0

6

SHARED VOTING POWER

2,200,286

7

SOLE DISPOSITIVE POWER

0

8

SHARED DISPOSITIVE POWER

2,200,286

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

13.58%

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
 

CERTAIN SHARES   [   ]

 

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

13.58%

12

TYPE OF REPORTING PERSON

PN

 

  CUSIP No. 92839Y109

 

  Page 3 of 12 Pages

     
     

1

NAME OF REPORTING PERSON

SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 

LONG DRIVE, L.P.
84-1639266

 

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP  (a) [X]

                                                                                                              (b) [  ]

 

3

SEC USE ONLY

 

 

4

CITIZENSHIP OR PLACE OF ORGANIZATION

DELAWARE

 

NUMBER  OF
 SHARES
BENEFICIALLY
 OWNED  BY
 EACH
 REPORTING
 PERSON  WITH
 

5

SOLE VOTING POWER

0

6

SHARED VOTING POWER

2,200,286

7

SOLE DISPOSITIVE POWER

0

8

SHARED DISPOSITIVE POWER

2,200,286

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

13.58%

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
 

CERTAIN SHARES   [   ]

 

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

13.58%

12

TYPE OF REPORTING PERSON

PN

 

  CUSIP No. 92839Y109

 

  Page 4 of 12 Pages

     
     

1

NAME OF REPORTING PERSON

SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 

ENDOWMENT CAPITAL GROUP, LLC
77-0621719

 

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP  (a) [X]

                                                                                                              (b) [  ]

 

3

SEC USE ONLY

 

 

4

CITIZENSHIP OR PLACE OF ORGANIZATION

DELAWARE

 

NUMBER  OF
 SHARES
BENEFICIALLY
 OWNED  BY
 EACH
 REPORTING
 PERSON  WITH
 

5

SOLE VOTING POWER

0

6

SHARED VOTING POWER

2,200,286

7

SOLE DISPOSITIVE POWER

0

8

SHARED DISPOSITIVE POWER

2,200,286

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

13.58%

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
 

CERTAIN SHARES   [   ]

 

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

13.58%

12

TYPE OF REPORTING PERSON

CO

 

  CUSIP No. 92839Y109

 

  Page 5 of 12 Pages

     
     

1

NAME OF REPORTING PERSON

SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 

ENDOWMENT MANAGEMENT, LLC
04-3771199

 

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP  (a) [X]

                                                                                                              (b) [  ]

 

3

SEC USE ONLY

 

 

4

CITIZENSHIP OR PLACE OF ORGANIZATION

DELAWARE

 

NUMBER  OF
 SHARES
BENEFICIALLY
 OWNED  BY
 EACH
 REPORTING
 PERSON  WITH
 

5

SOLE VOTING POWER

0

6

SHARED VOTING POWER

2,200,286

7

SOLE DISPOSITIVE POWER

0

8

SHARED DISPOSITIVE POWER

2,200,286

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

13.58%

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
 

CERTAIN SHARES   [   ]

 

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

13.58%

12

TYPE OF REPORTING PERSON

CO

 

  CUSIP No. 92839Y109

 

  Page 6 of 12 Pages

     
     

1

NAME OF REPORTING PERSON

SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 

PHILIP TIMON
266-49-0215

 

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP  (a) [X]

                                                                                                              (b) [  ]

 

3

SEC USE ONLY

 

 

4

CITIZENSHIP OR PLACE OF ORGANIZATION

UNITED STATES OF AMERICA

 

NUMBER  OF
 SHARES
BENEFICIALLY
 OWNED  BY
 EACH
 REPORTING
 PERSON  WITH
 

5

SOLE VOTING POWER

0

6

SHARED VOTING POWER

2,200,286

7

SOLE DISPOSITIVE POWER

0

8

SHARED DISPOSITIVE POWER

2,200,286

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

13.58%

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
 

CERTAIN SHARES   [   ]

 

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

13.58%

12

TYPE OF REPORTING PERSON

IN

 

  CUSIP No. 92839Y109

 

  Page 7 of 12 Pages

     
     

Item 1.

(a).

Name of Issuer: VISTACARE, INC.

 

(b).

Address of Issuer's Principal Executive Offices:

   

4800 N. SCOTTSDALE ROAD, SUITE 5000
SCOTTSDALE, AZ 85251

Item 2.

(a).

Name of Persons Filing:

                    This Statement is being filed jointly by (i) Endowment Capital, L.P., a Delaware limited partnership ("Endowment"); (ii) Long Drive, L.P., a Delaware limited partnership ("Long Drive"); (iii) Endowment Capital Group, LLC, a Delaware limited liability company, which serves as general partner to Endowment and Long Drive (the "General Partner"); (iv) Endowment Management, LLC, a Delaware limited liability company, which serves as investment manager to Endowment and Long Drive (the "Manager"); and (v) Mr. Philip Timon, who serves as the managing member of the General Partner and the Manager. Endowment, Long Drive, the General Partner, the Manager, and Philip Timon are sometimes also referred to herein individually as a "Reporting Person" and collectively as "Reporting Persons".

 

(b).

Address of Principal Business Office for Each of the Above:

   

(i)

Endowment Capital, L.P. -- The address of Endowment's principal business and principal office is 1105 N. Market Street, 15th Floor, Wilmington, DE 19801.

   

(ii)

Long Drive, L.P. -- The address of Long Drive's principal business and principal office is 1105 N. Market Street, 15th Floor, Wilmington, DE 19801.

   

(iii)

Endowment Capital Group, LLC -- The address of the General Partner's principal business and principal office is 1105 N. Market Street, 15th Floor, Wilmington, DE 19801.

   

(iv)

Endowment Management, LLC -- The address of the Manager's principal business and principal office is 1105 N. Market Street, 15th Floor, Wilmington, DE 19801.

   

(v)

Philip Timon -- Mr. Philip Timon's principal address is 1105 N. Market Street, 15th Floor, Wilmington, DE 19801.

 

(c).

Citizenship or Place of Organization:

                               Endowment, Long Drive, the General Partner, and the Manager are organized under the laws of the State of Delaware. Philip Timon is a citizen of the United States.

 

(d).

Title of Class of Securities: Common Stock

  (e).

CUSIP Number:  92839Y109

  CUSIP No. 92839Y109

 

  Page 8 of 12 Pages

     
     

Item 3.

If this Statement is Filed Pursuant to Rules 13d-1(b) or 13d-2(b) or (c), Check Whether the Person Filing is a:

 

(a)

[ ]  Broker or dealer registered under Section 15 of the Exchange Act;

 

(b)

[ ]  Bank as defined in Section 3(a)(6) of the Exchange Act;

 

(c)

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

 

(d)

[ ]  Investment company registered under Section 8 of the Investment
      Company Act;

 

(e)

[ ]  An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);

 

(f)

[ ]  An employee benefit plan or endowment fund in accordance with Rule
     13d-1(b)(1)(ii)(F);

 

(g)

[ ]  A parent holding company or control person in accordance with Rule
     13d-1(b)(1)(ii)(G);

 

(h)

[ ]  A savings associations as defined in Section 3(b) of the Federal Deposit
      Insurance Act;

 

(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 Rule 13d-1(b)(1) (ii)(J).

Item 4.

Ownership.

 

(a).

Amount beneficially owned:

 
   

(i)

Endowment Capital, L.P.

2,200,286

   

(ii)

Long Drive, L.P.

2,200,286

   

(iii)

Endowment Capital Group, LLC1

2,200,286

   

(iv)

Endowment Management, LLC2

2,200,286

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

1    Endowment Capital Group, LLC is the General Partner of Endowment Capital. L.P. and Long Drive, L.P., subject to the overall     control of the managing member, Philip Timon.

2    Endowment Management, LLC is the investment manager of Endowment Capital. L.P. and Long Drive, L.P., subject to the overall    control of the managing member, Philip Timon, and thus could be deemed to share the power to vote and dispose or direct the     disposition of such Shares.

 

  CUSIP No. 92839Y109

 

  Page 9 of 12 Pages

     
     
   

(v)

Philip Timon3

2,200,286

 

(b).

Percentage of class:

 

(i)

Endowment Capital, L.P.

13.58%
 

(ii)

Long Drive, L.P.

13.58%
 

(iii)

Endowment Capital Group, LLC

13.58%
 

(iv)

Endowment Management, LLC

13.58%
 

(v)

Philip Timon

13.58%
 

(c).

Number of shares as to which such person has:

 

(1)

Sole power to vote or to direct the vote:

 

(i)

Endowment Capital, L.P.

0

 

(ii)

Long Drive, L.P.

0

 

(iii)

Endowment Capital Group, LLC

0

 

(iv)

Endowment Management, LLC

0

 

(v)

Philip Timon

0

   

   (2)

Shared power to vote or to direct the vote:

   

   (i)

Endowment Capital, L.P.

2,200,286

   

   (ii)

Long Drive, L.P.

2,200,286

   

   (iii)

Endowment Capital Group, LLC

2,200,286

   

   (iv)

Endowment Management, LLC

2,200,286

   

   (v)

Philip Timon

2,200,286

   

   (3)

Sole power to dispose or to direct the disposition of :

   

   (i)

Endowment Capital, L.P.

0

   

   (ii)

Long Drive, L.P.

0

   

   (iii)

Endowment Capital Group, LLC

0

   

   (iv)

Endowment Management, LLC

0

   

   (v)

Philip Timon

0

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

3    Philip Timon is the managing member is deemed to posses a controlling interest in Endowment Management, LLC and thus could be deemed to share the power to vote and dispose or direct the disposition of such Shares.

 

  CUSIP No. 92839Y109

 

  Page 10 of 12 Pages

     
     
   

(4)

Shared power to dispose or to direct the disposition of:

   

(i)

Endowment Capital, L.P.

2,200,286

   

(ii)

Long Drive, L.P.

2,200,286

   

(iii)

Endowment Capital Group, LLC

2,200,286

   

(iv)

Endowment Management, LLC

2,200,286

   

(v)

Philip Timon

2,200,286

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 Subsidiaries which Acquired the Security Being Reported on by the Parent Holding Company:

 

Not Applicable.

ITEM 8.

Identification and Classification of Members of the Group:

 

See Item 2.

ITEM 9.

Notice of Dissolution of Group:

 

Not Applicable.

 

  CUSIP No. 92839Y109

 

  Page 11 of 12 Pages

     
     

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 transaction having that purpose or effect.

SIGNATURES

                          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.

 

ENDOWMENT CAPITAL L.P.

 

Date: February 14, 2005

 

By /S/ Philip Timon

   

Philip Timon, managing member of Endowment

   

Capital Group LLC general partner

 

   

LONG DRIVE L.P.

 

Date: February 14, 2005

 

By: /s/ Philip Timon

   

Philip Timon managing member of Endowment

   

Capital Group LLC, general partner

 

   

ENDOWMENT CAPITAL GROUP LLC

 

Date: February 14, 2005

 

By: /S/ Philip Timon

   

Philip Timon managing member

 

   

ENDOWMENT MANAGEMENT LLC

 

Date: February 14, 2005

 

By: /S/ Philip Timon

   

Philip Timon managing member

 

  CUSIP No. 92839Y109

 

  Page 12 of 12 Pages

     
     

EXHIBIT 1 -- AGREEMENT OF JOINT FILING

In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned hereby agrees that the foregoing statement on Schedule 13G/A, is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G, shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.

IN WITNESS WHEREOF, the undersigned hereby execute this Agreement on the 14th day of February, 2005.

 

ENDOWMENT CAPITAL L.P.

 

Date: February 14, 2005

 

By /S/ Philip Timon

   

Philip Timon, managing member of Endowment

   

Capital Group LLC general partner

 

   

LONG DRIVE L.P.

 

Date: February 14, 2005

 

By: /s/ Philip Timon

   

Philip Timon managing member of Endowment

   

Capital Group LLC, general partner

 

   

ENDOWMENT CAPITAL GROUP LLC

 

Date: February 14, 2005

 

By: /S/ Philip Timon

   

Philip Timon managing member

 

   

ENDOWMENT MANAGEMENT LLC

 

Date: February 14, 2005

 

By: /S/ Philip Timon

   

Philip Timon managing member