UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No.__)*
I.D. Systems, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
449489103
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(CUSIP Number)
December 31, 2005
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(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 (however, see
the Notes).
CUSIP No. 449489103 13G Page 2 of 9 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Oberweis Asset Management, Inc.
36-3668290
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(SEE INSTRUCTIONS)
(a) [ ]
Not Applicable (b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
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5 SOLE VOTING POWER
None
NUMBER OF ------------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 588,906
EACH ------------------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH None
------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
588,906
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
588,906
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10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS) [ ]
Not Applicable
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.5%
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12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IA
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CUSIP No. 449489103 13G Page 3 of 9 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
James D. Oberweis
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
Not Applicable (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
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5 SOLE VOTING POWER
None
NUMBER OF ------------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 588,906
EACH ------------------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH None
------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
588,906
-------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
588,906
-------------------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS) [ ]
Not Applicable
-------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.5%
-------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
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CUSIP No. 449489103 13G Page 4 of 9 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
James W. Oberweis
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
Not Applicable (a) [ ]
(b) [ ]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
-------------------------------------------------------------------------------
5 SOLE VOTING POWER
None
NUMBER OF ------------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 588,906
EACH ------------------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH None
------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
588,906
-------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
588,906
-------------------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS) [ ]
Not Applicable
-------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.5%
-------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
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Item 1(a) Name of Issuer:
I.D. Systems, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
One University Plaza
Hackensack, NJ 07601
Item 2(a) Name of Person Filing:
Oberweis Asset Management, Inc. ("OAM")
James D. Oberweis
James W. Oberweis
Item 2(b) Address of Principal Business Office or, if none, Residence:
OAM, James D. Oberweis and James W. Oberweis are located at:
3333 Warrenville Road
Suite 500
Lisle, IL 60532
Item 2(c) Citizenship:
OAM is an Illinois Corporation.
James D. Oberweis and James W. Oberweis are U.S. citizens.
Item 2(d) Title of Class of Securities:
Common Stock
Item 2(e) CUSIP Number:
449489103
Item 3 Type of Person:
(e) OAM is an investment adviser in accordance with section
240.13d-1(b)(1)(ii)(E). James D. Oberweis and James W.
Oberweis are the principal stockholders of OAM.
Page 5 of 9 pages
Item 4 Ownership (at December 31, 2005):
(a) Amount owned "beneficially" within the meaning of
rule 13d-3:
588,906 shares
(b) Percent of class:
7.5% (based on 7,845,000 shares outstanding on
November 1, 2005)
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
none
(ii) shared power to vote or to direct the vote:
588,906
(iii) sole power to dispose or to direct the
disposition of:
none
(iv) shared power to dispose or to direct disposition
of:
588,906
OAM serves as investment adviser to The Oberweis Funds (the
"Fund"). Various of OAM's shareholders and employees are also
officers and trustees of the Fund, but OAM does not consider
the Fund to be controlled by such persons. Although the Fund
is not controlled by OAM, pursuant to Rule 16d-3(a) the
93,194 shares beneficially owned by the Fund, with respect to
which the Fund has delegated to OAM voting power and
dispositive power, are considered to be shares beneficially
owned by OAM by reason of such delegated powers. In addition
to the shares beneficially owned by the Fund, other clients
of OAM may own shares which are not included in the
aggregated number of shares reported herein because OAM does
not have or share voting or investment power over those
shares.
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:
The shares reported herein have been acquired on behalf of
discretionary clients of OAM. Persons other than OAM are
entitled to receive all dividends from, and proceeds from the
sale of, those shares.
Page 6 of 9 pages
Item 7 Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company:
Not Applicable
Item 8 Identification and Classification of Members of the Group:
Not Applicable
Item 9 Notice of Dissolution of Group:
Not Applicable
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 the ordinary course
of business and 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.
Page 7 of 9 pages
Signature
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: February 14, 2006
The undersigned corporation, on the date above written,
agrees and consents to the joint filing on its behalf of this
Schedule 13G in connection with its beneficial ownership of
the security reported herein.
OBERWEIS ASSET MANAGEMENT, INC.
By: /s/ Patrick B. Joyce
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Patrick B. Joyce
Executive Vice President
The undersigned individual, on the date above written, agrees
and consents to the joint filing on his behalf of this
Schedule 13G in connection with his beneficial ownership of
the security reported herein.
By: /s/ James D. Oberweis
-----------------------------
James D. Oberweis
The undersigned individual, on the date above written, agrees
and consents to the joint filing on his behalf of this
Schedule 13G in connection with his beneficial ownership of
the security reported herein.
By: /s/ James W. Oberweis
-----------------------------
James W. Oberweis
.
Page 8 of 9 pages
Exhibit Index
Exhibit 1 Joint Filing Agreement dated as of February 14, 2006 between
Oberweis Asset Management, Inc., James D. Oberweis and James W.
Oberweis
Page 9 of 9 pages