iPass Inc (IPAS): Adam Hutt’s Leviticus Partners Keeps Buying

iPass Inc (NASDAQ:IPAS) shares are up more than 13% this year partly because of recent hedge fund interest. Adam Hutt’s Leviticus Partners disclosed a 5.6% stake a month and a half ago. This week, in another filing, the same hedge fund revealed that it boosted its stake to 7.7%.

iPass Inc (IPAS) is a tiny company by hedge fund standards, yet two hedge funds, Leviticus Partners and Renaissance Technologies, own around 11.5% of its outstanding shares. It is noteworthy that hedge funds are overweight this tiny company.

The details of this week’s filing can be seen below:

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
AMH Equity 4,990,841 7.73%
Leviticus Partners 4,990,841 7.73%

Page 1 of 4 – SEC Filing

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

SCHEDULE 13G/A

Under the Securities Exchange Act of 1934
(AMENDMENT NO. 1)*

iPass Inc.
——————————————————————–
(Name of Issuer)

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

46261V108
———————————————————————-
(CUSIP Number)

04/04/2016
———————————————————————-
(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-i(b)
/X / Rule 13d-i(c)
/ / Rule 13d-i(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.

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Page 2 of 4 – SEC Filing

CUSIP NO. 46261V108 13G/A
————————————————————————
——–
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

AMH Equity LLC
————————————————————————

2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a) / / (b) / /
————————————————————————

3 SEC USE ONLY
————————————————————————

4 CITIZENSHIP OR PLACE OF ORGANIZATION

New York, USA
————————————————————————

NUMBER OF 5 SOLE VOTING POWER

SHARES 408,065

BENEFICIALLY
————————————————–

OWNED BY 6 SHARED VOTING POWER

EACH
————————————————-

REPORTING 7 SOLE DISPOSITIVE POWER

PERSON 408,065

WITH
————————————————-

8 SHARED DISPOSITIVE POWER

————————————————————————

9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,990,841 shares of common stock.
————————————————————————

10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* / /

————————————————————————

11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

7.73%
————————————————————————

12 TYPE OF REPORTING PERSON*
PN
————————————————————————

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Page 3 of 4 – SEC Filing

CUSIP NO. 46261V108 13G/A
————————————————————————

1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

Leviticus Partners, L.P.
————————————————————————

2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a) / / (b) / /
————————————————————————

3 SEC USE ONLY
————————————————————————

4 CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware, USA
————————————————————————

NUMBER OF 5 SOLE VOTING POWER

SHARES 4,582,776 Shares of Common Stock

BENEFICIALLY
——————————————

OWNED BY 6 SHARED VOTING POWER

EACH
———————————–

REPORTING 7 SOLE DISPOSITIVE POWER

PERSON 4,582,77 Shares of Common Stock

WITH
———————————————
8 SHARED DISPOSITIVE POWER

————————————————————————

9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,990,841 shares of common stock.
————————————————————————

10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* / /

————————————————————————

11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

7.73%
————————————————————————

12 TYPE OF REPORTING PERSON*
PN
————————————————————————

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Page 4 of 4 – SEC Filing

ITEM 1: (a) NAME OF ISSUER:

iPass Inc.

(b) ADDRESS OF ISSUER’S PRINCIPAL EXECUTIVE OFFICES:
3800 Bridge Parkway Redwood Shores, California 94065

ITEM 2: (a) NAME OF PERSON FILING:

This Schedule 13G/A is jointly filed by Leviticus
Partners, L.P., a Delaware limited partnership (“Leviticus”) and
AMH Equity, LLC (“AMH”), a New York limited liability company
(each a “Reporting Person” and, collectively, the “Reporting
Persons”). AMH is the general partner of Leviticus.

(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE :

370 Lexington Avenue
Suite 201
New York, NY 10017

(c) CITIZENSHIP:

See above

(d) TITLE OF CLASS OF SECURITIES:

SEE COVER PAGE

(e) CUSIP NUMBER:

SEE COVER PAGE

ITEM 3: See Item 12 above

ITEM 4: (a) AMOUNT BENEFICIALLY OWNED:

See Item 9 above

(b) PERCENT OF CLASS:

See Item 11 above

(c) NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS VOTING AND
DISPOSITIVE POWERS:

See Items 5 and 7 above

ITEM 5: OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS: / /

ITEM 6: OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
PERSON:
N/A

The principal address of Leviticus is:
370 Lexington Avenue
Suite 201
New York, NY 10017

ITEM 7:
Inapplicable

ITEM 8:
Inapplicable

ITEM 9: NOTICE OF DISSOLUTION OF GROUP:

Inapplicable

ITEM 10: CERTIFICATION:

By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above were acquired
and are held in theordinary course of business and were not acquired
and are not held for the purpose of and do not have 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 such purpose or effect.

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: April 06, 2016

Leviticus Partners, L.P.
By: AMH Equity, LLC, its general partner
By: /s/ Adam Hutt
Name: Adam Hutt
Title: Managing Member

AMH Equity, LLC
By: /s/ Adam Hutt
Name: Adam Hutt
Title: Managing Member

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