13D Filing: Emancipation Capital and Id Systems Inc (NASDAQ:IDSY)

CUSIP No. 449489103

Reference is hereby made to the statement on Schedule 13D filed with the Securities and Exchange Commission on July 28, 2015, Amendment No. 1 thereto filed with the Securities and Exchange Commission on March 9, 2016, Amendment No. 2 thereto filed with the Securities and Exchange Commission on September 27, 2016 and Amendment No. 3 thereto filed with the Securities and Exchange Commission on November 16, 2016 (as so amended, the “Schedule 13D”) with respect to Common Stock of the Issuer.  Terms previously defined in the Schedule 13D are used herein as so defined.

Item 2(a) is hereby supplemented to (i) include Circle N Advisors, LLC, a Delaware limited liability company (“Circle N”), as a Reporting Person, filing with respect to the shares of Common Stock held in accounts managed by it, and (ii) state that both of Emancipation Management and Mr. Frumberg are filing with respect to the shares of Common Stock held in accounts managed by Circle N.

Item 2(b) is hereby supplemented to state that the principal business address of Circle N is 200 Westgate Business Center Drive, Fishkill, NY 12524.

Item 2(c) is hereby supplemented to state that the principal business of Circle N is investing in securities.  Circle N is a wholly-owned subsidiary of Emancipation Management.

Item 3 is hereby amended to state that as of March 20, 2017 the Reporting Persons used a total of $9,963,355.68 in the aggregate to acquire the shares of Common Stock held by Emancipation Master Ltd., the Managed Account, SPV IV and Circle N reported herein.  The shares of Common Stock directly held by Emancipation Master Ltd., the Managed Account, Circle N and a portion of the shares of Common Stock directly held by SPV IV were acquired with investment funds in accounts under management.  The remainder of the shares of Common Stock directly held by SPV IV were acquired from a non-affiliated third party in exchange for membership interests in SPV IV.

The following paragraphs of Item 5 are hereby amended and restated to read in their entirety as follows:

(a) – (b)  The information requested by these paragraphs is incorporated herein by reference to the information provided on the cover pages to this Amendment No. 4 to Schedule 13D.  Percentage ownership is based on 13,753,500 shares of Common Stock outstanding as of November 8, 2016, as reported in the Issuer’s Quarterly Report on Form 10-Q for the period ended September 30, 2016, as filed with the the Securities and Exchange Commission on November 14, 2016.

(c)  Information concerning transactions in the Common Stock effected by the Reporting Persons during the past sixty days is set forth below.  All such transactions were effectuated in the open market through a broker.