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

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 4)*
ID Systems, Inc.
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of Class of Securities)
449489103
(CUSIP Number)
Mr. Charles Frumberg
Emancipation Capital
825 Third Avenue
New York, New York 10022
(212) 605-0661
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
March 13, 2017
(Date of Event which Requires
Filing of this Schedule)

CUSIP No. 449489103

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CUSIP No. 449489103

CUSIP No. 449489103

CUSIP No. 449489103

CUSIP No. 449489103

CUSIP No. 449489103

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.

CUSIP No. 449489103

Exhibit 3 – Amended and Restated Joint Filing Agreement, dated March 27, 2017 (amends and restates the Joint Filing Agreement, dated July 28, 2015, filed as Exhibit 1 to the Schedule 13D and the Amended and Restated Joint Filing Agreement, dated September 26, 2016, filed as Exhibit 2 to Amendment No. 2 to Schedule 13D)

CUSIP No. 449489103

SIGNATURES

After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

Date:  March 27, 2017

	Emancipation Management LLC
	By:	/s/ Charles Frumberg
	Name:	Charles Frumberg
	Title:	Managing Member
	Emancipation Capital Master, Ltd.
	By:	/s/ Charles Frumberg
	Name:	Charles Frumberg
	Title:	Managing Member
	Emancipation Capital SPV IV LLC By:  Emancipation Capital LLC, its managing member
	By:	/s/ Charles Frumberg
	Name:	Charles Frumberg
	Title:	Managing Member
	Emancipation Capital LLC
	By:	/s/ Charles Frumberg
	Name:	Charles Frumberg
	Title:	Managing Member
	Circle N Advisors, LLC
	By:	/s/ Charles Frumberg
	Name:	Charles Frumberg
	Title:	Chief Executive Officer
	/s/ Charles Frumberg
	Charles Frumberg

CUSIP No. 449489103

EXHIBIT 3

PURSUANT TO RULE 13d-1(k)

The undersigned acknowledge and agree that the foregoing Amendment No. 4 to Schedule 13D is filed on behalf of each of the undersigned and that all subsequent amendments to the Schedule 13D may be filed on behalf of each of the undersigned without the necessity of filing additional joint filing agreements. 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 herein and therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows that such information is inaccurate.

Date: March 27, 2017

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