Filing Details
- Accession Number:
- 0000904454-18-000047
- Form Type:
- 13D Filing
- Publication Date:
- 2018-01-22 16:38:50
- Filed By:
- Emancipation Capital
- Company:
- Id Systems Inc (NASDAQ:IDSY)
- Filing Date:
- 2018-01-22
- SEC Url:
- 13D Filing
Ownership Summary
Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Emancipation Management | 1,787,393 | 1,787,393 | 1,787,393 | (see Item 5) 10.3% | ||
| Emancipation Capital Master, Ltd | 754,010 | 754,010 | 754,010 | (see Item 5) 4.3% | ||
| Emancipation Capital SPV IV | 1,033,383 | 1,033,383 | 1,033,383 | (see Item 5) 5.9% | ||
| Emancipation Capital | 1,033,383 | 1,033,383 | 1,033,383 | (see Item 5) 5.9% | ||
| Circle N Advisors | 1,787,393 | 1,787,393 | 1,787,393 | (see Item 5) - 0 - 14 TYPE OF REPORTING PERSON OO 6 CUSIP No. 449489103 1 NAME OF REPORTING PERSONS Charles Frumberg 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) 3 SEC USE ONLY 4 SOURCE OF FUNDS OO 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7 SOLE VOTING POWER - 0 - 8 SHARED VOTING POWER 1,787,393 shares of Common Stock 9 SOLE DISPOSITIVE POWER - 0 - 10 SHARED DISPOSITIVE POWER 1,787,393 shares of Common Stock 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 1,787,393 shares of Common Stock 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item 5) 10.3% | ||
| Charles Frumberg |
Filing
| SECURITIES AND EXCHANGE COMMISSION | |
| Washington, D.C. 20549 | |
| | |
| SCHEDULE 13D | |
| | |
| Under the Securities Exchange Act of 1934 | |
| (Amendment No. 6)* | |
| | |
| 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) | |
| | |
| January 18, 2018 | |
| (Date of Event which Requires | |
| Filing of this Schedule) | |
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box. [X]
NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.
--------------------------
* 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 disclosures provided in a prior cover page.
The information required on 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 (however, see the Notes).
CUSIP No. 449489103
| 1 | NAME OF REPORTING PERSONS Emancipation Management LLC | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) [ ] (b) [ ] | ||
| 3 | SEC USE ONLY | |||
| 4 | SOURCE OF FUNDS OO | |||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) | [ ] | ||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION New York | |||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER - 0 - | ||
| 8 | SHARED VOTING POWER 1,787,393 shares of Common Stock | |||
| 9 | SOLE DISPOSITIVE POWER - 0 - | |||
| 10 | SHARED DISPOSITIVE POWER 1,787,393 shares of Common Stock | |||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 1,787,393 shares of Common Stock | |||
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | [ ] | ||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item 5) 10.3% | |||
| 14 | TYPE OF REPORTING PERSON OO | |||
CUSIP No. 449489103
| 1 | NAME OF REPORTING PERSONS Emancipation Capital Master, Ltd. | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) [ ] (b) [ ] | ||
| 3 | SEC USE ONLY | |||
| 4 | SOURCE OF FUNDS OO | |||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEM 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 - 0 - | ||
| 8 | SHARED VOTING POWER 754,010 shares of Common Stock | |||
| 9 | SOLE DISPOSITIVE POWER - 0 - | |||
| 10 | SHARED DISPOSITIVE POWER 754,010 shares of Common Stock | |||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 754,010 shares of Common Stock | |||
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | [ ] | ||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item 5) 4.3% | |||
| 14 | TYPE OF REPORTING PERSON CO | |||
CUSIP No. 449489103
| 1 | NAME OF REPORTING PERSONS Emancipation Capital SPV IV LLC | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) [ ] (b) [ ] | ||
| 3 | SEC USE ONLY | |||
| 4 | SOURCE OF FUNDS OO | |||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEM 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 - 0 - | ||
| 8 | SHARED VOTING POWER 1,033,383 shares of Common Stock | |||
| 9 | SOLE DISPOSITIVE POWER - 0 - | |||
| 10 | SHARED DISPOSITIVE POWER 1,033,383 shares of Common Stock | |||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 1,033,383 shares of Common Stock | |||
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | [ ] | ||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item 5) 5.9% | |||
| 14 | TYPE OF REPORTING PERSON OO | |||
CUSIP No. 449489103
| 1 | NAME OF REPORTING PERSONS Emancipation Capital LLC | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) [ ] (b) [ ] | ||
| 3 | SEC USE ONLY | |||
| 4 | SOURCE OF FUNDS OO | |||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) | [ ] | ||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION New York | |||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER - 0 - | ||
| 8 | SHARED VOTING POWER 1,033,383 shares of Common Stock | |||
| 9 | SOLE DISPOSITIVE POWER - 0 - | |||
| 10 | SHARED DISPOSITIVE POWER 1,033,383 shares of Common Stock | |||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 1,033,383 shares of Common Stock | |||
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | [ ] | ||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item 5) 5.9% | |||
| 14 | TYPE OF REPORTING PERSON OO | |||
CUSIP No. 449489103
| 1 | NAME OF REPORTING PERSONS Circle N Advisors, LLC | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) [ ] (b) [ ] | ||
| 3 | SEC USE ONLY | |||
| 4 | SOURCE OF FUNDS Not Applicable | |||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEM 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 - 0 - | ||
| 8 | SHARED VOTING POWER - 0 - | |||
| 9 | SOLE DISPOSITIVE POWER - 0 - | |||
| 10 | SHARED DISPOSITIVE POWER - 0 - | |||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON - 0 - | |||
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | [ ] | ||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item 5) - 0 - | |||
| 14 | TYPE OF REPORTING PERSON OO | |||
CUSIP No. 449489103
| 1 | NAME OF REPORTING PERSONS Charles Frumberg | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) [ ] (b) [ ] | ||
| 3 | SEC USE ONLY | |||
| 4 | SOURCE OF FUNDS OO | |||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) | [ ] | ||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION United States | |||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER - 0 - | ||
| 8 | SHARED VOTING POWER 1,787,393 shares of Common Stock | |||
| 9 | SOLE DISPOSITIVE POWER - 0 - | |||
| 10 | SHARED DISPOSITIVE POWER 1,787,393 shares of Common Stock | |||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 1,787,393 shares of Common Stock | |||
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | [ ] | ||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item 5) 10.3% | |||
| 14 | TYPE OF REPORTING PERSON IN | |||
CUSIP No. 449489103
AMENDMENT NO. 6 TO SCHEDULE 13D
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, Amendment No. 3 thereto filed with the Securities and Exchange Commission on November 16, 2016, Amendment No. 4 thereto filed with the Securities and Exchange Commission on March 27, 2017 and Amendment No. 5 thereto filed with the Securities and Exchange Commission on March 28, 2017 (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 3. | SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. |
Item 3 is hereby amended and supplemented to state that the shares of Common Stock acquired by SPV IV from the Managed Account on January 18, 2018 were acquired with investment funds contributed by the limited partners of SPV IV.
| Item 5. | INTEREST IN SECURITIES OF THE ISSUER. |
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. 6 to Schedule 13D. Percentage ownership is based on 17,434,293 shares of Common Stock outstanding as of November 8, 2017, as reported in the Issuer's Quarterly Report on Form 10-Q for the period ended September 30, 2017 filed with the the Securities and Exchange Commission on November 14, 2017.
(c) On January 18, 2018, the Managed Account sold 315,784 shares of Common Stock, representing its entire holdings of Common Stock, at a price of $6.90 per share. 25,000 of such shares were sold to a non-affiliated third party in a privately-negotiated transaction, and 290,784 of such shares were sold to SPV IV.
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: January 22, 2018
| | 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 | | |
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