Schedule 13G/A

-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, RVCvGcWF1AZW6ylUJNlx8alzM170kU2D5rBzQZvl7tz6Tq3ZS044L2PjfUriXsiQ 2veE6Rdn7raQvsoCaoe80w== 0000929638-10-000172.txt : 20100218 0000929638-10-000172.hdr.sgml : 20100218 20100218141552 ACCESSION NUMBER: 0000929638-10-000172 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20100218 DATE AS OF CHANGE: 20100218 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: FINKELSTEIN FOREST CENTRAL INDEX KEY: 0001356417 FILING VALUES: FORM TYPE: SC 13G/A MAIL ADDRESS: STREET 1: 29 FIFTH AVENUE STREET 2: APT 6B CITY: NEW YORK STATE: NY ZIP: 10003 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: INNOVATIVE CARD TECHNOLOGIES INC CENTRAL INDEX KEY: 0001300578 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COMPONENTS & ACCESSORIES [3670] IRS NUMBER: 141861651 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-81096 FILM NUMBER: 10615748 BUSINESS ADDRESS: STREET 1: 10880 WILSHIRE BLVD. STREET 2: SUITE 950 CITY: LOS ANGELES STATE: CA ZIP: 90024 BUSINESS PHONE: 310-312-0700 MAIL ADDRESS: STREET 1: 10880 WILSHIRE BLVD. STREET 2: SUITE 950 CITY: LOS ANGELES STATE: CA ZIP: 90024 SC 13G/A 1 sc13gaforestfinkelstein.htm Schedule 13G/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. 1) *

INNOVATIVE CARD TECHNOLOGIES, INC.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)


	45773R100

(CUSIP Number)

December 31, 2009

(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-1(b)

[X]

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 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).


1	Names of Reporting Persons Forest Finkelstein
2	Check the Appropriate Box if a Member of a Group (See Instructions)
	(a) [ ]
	(b) [ ]
3	SEC Use Only
4	Citizenship or Place of Organization United States
Number of Shares Beneficially Owned by Each Reporting Person With		5 Sole Voting Power 210,255 () (*)
		6 Shared Voting Power -0- () (*)
		7 Sole Dispositive Power 210,255 () (*)
		8 Shared Dispositive Power -0- () (*)
9	Aggregate Amount Beneficially Owned by Each Reporting Person 210,255 () (*)
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) 0.73%() (*)
12	Type of Reporting Person (See Instructions) IN

(*) See also Item 4 which provides information with respect to the prior years.

(**) Calculated based upon 28,640,920 shares of common stock outstanding as of November 9, 2009, as reported by Innovative Card Technologies, Inc. in its Quarterly Report on Form 10-Q filed with the United States Securities and Exchange Commission on November 13, 2009.

Item 1.


	(a)	Name of Issuer
		Innovative Card Technologies, Inc.
	(b)	Address of Issuer’s Principal Executive Offices
		633 West Fifth Street, Suite 2600, Los Angeles, California 90071

Item 2.


	(a)	Name of Person Filing
		Forest Finkelstein
	(b)	Address of Principal Business Office or, if none, Residence
		c/o Bemel, Ross & Klein, LLP 11601 Wilshire Blvd, Suite 2150, Los Angeles, CA 90025
	(c)	Citizenship
		United States
	(d)	Title of Class of Securities
		Common Stock, par value $0.001 per share
	(e)	CUSIP Number
		45773R100

Item 3.

If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:


(a)	[ ]	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	[ ]	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	[ ]	Insurance Company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	[ ]	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8);
(e)	[ ]	An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
(f)	[ ]	An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
(g)	[ ]	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	[ ]	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	[ ]	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	[ ]	A non-U.S. institution in accordance with §240.13d–1(b)(1)(ii)(J);
(k)	[ ]	Group, in accordance with §240.13d-1(b)(1)(ii)(K).

If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

Item 4.

Ownership

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

(a)

Amount beneficially owned:

(1) For the year ended December 31, 2009, the information set forth in Row 9 of the cover page for the Reporting Person is hereby incorporated by reference into this Item 4(a).

(2) For the year ended December 31, 2006, the Reporting Person may be deemed the beneficial owner of 1,179,500 shares of Common Stock of the Issuer.

(3) For the year ended December 31, 2005, the Reporting Person may be deemed the beneficial owner of 1,214,500 shares of Common Stock of the Issuer.

(b) Percent of class:

(1) For the year ended December 31, 2009, the information set forth in Row 11 of the cover page for the Reporting Person is hereby incorporated by reference into this Item 4(b).

(2) For the year ended December 31, 2006, the shares of Common Stock which may be deemed to be beneficially owned by the Reporting Person represent approximately 4.16% of the 28,364,308 issued and outstanding shares of Common Stock of the Issuer as of November 7, 2006, as reported by the Issuer in its Quarterly Report on Form 10-Q filed with the SEC on November 13, 2006.

(3) For the year ended December 31, 2005, the shares of Common Stock which may be deemed to be beneficially owned by the Reporting Person represent approximately 6.86% of the 17,694,566 issued and outstanding shares of Common Stock of the Issuer as of November 8, 2005, as reported by the Issuer in its Quarterly Report on Form 10-Q filed with the SEC on November 23, 2005.

(1) For the year ended December 31, 2009, the information set forth in Rows 5 through 8 of the cover page for the Reporting Person is hereby incorporated by reference into this Item 4(c).

(2) For the year ended December 31, 2006:

(i)

Sole power to vote or to direct the vote: 1,179,500

(ii)

Shared power to vote or to direct the vote: -0-

(iii)

Sole power to dispose or direct the disposition of: 1,179,500

(iv)

Shared power to dispose or to direct the disposition of: -0-

(3) For the year ended December 31, 2005:

(i)

Sole power to vote or to direct the vote: 1,214,500

(ii)

Shared power to vote or to direct the vote: -0-

(iii)

Sole power to dispose or direct the disposition of: 1,214,500

(iv)

Shared power to dispose or to direct the disposition of: -0-

Item 5.

Ownership of Five Percent or Less of a Class

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [X].

Item 6.

Ownership of More than Five Percent on Behalf of Another Person

Not applicable.

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person

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 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.

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 16, 2010

/s/ Forest Finkelstein

Name: Forest Finkelstein

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