-----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, V1x1Ctvmtw19IsXxEGEs/QqE8j7jb9x9Iw3PucfGeSlEEH63fy/WU/6PcU4i6tCH YFTDIb3GanOkIPuPIfrSSQ== 0001098026-06-000009.txt : 20060421 0001098026-06-000009.hdr.sgml : 20060421 20060421095341 ACCESSION NUMBER: 0001098026-06-000009 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20060421 DATE AS OF CHANGE: 20060421 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: IBIS TECHNOLOGY CORP CENTRAL INDEX KEY: 0000855182 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 042987600 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-47263 FILM NUMBER: 06771395 BUSINESS ADDRESS: STREET 1: 32 CHERRY HILL DR CITY: DANVERS STATE: MA ZIP: 01923 BUSINESS PHONE: 9787774247 MAIL ADDRESS: STREET 1: 32 CHERRY HILL DR CITY: DANVERS STATE: MA ZIP: 01923 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: INTRINSIC VALUE ASSET MANAGEMENT INC CENTRAL INDEX KEY: 0001098026 IRS NUMBER: 954779707 STATE OF INCORPORATION: CA FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 127 BROADWAY ST., SUITE 202 CITY: SANTA MONICA STATE: CA ZIP: 90265 BUSINESS PHONE: 3102606484 MAIL ADDRESS: STREET 1: 127 BROADWAY ST., SUITE 202 CITY: SANTA MONICA STATE: CA ZIP: 90265 SC 13G/A 1 ibis_sc13ga6-04212006.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G/A Under the Securities Exchange Act of 1934 (Amendment No. 6) IBIS Technology Corp. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 450909106 - -------------------------------------------------------------------------------- (CUSIP Number) February 28, 2006 - -------------------------------------------------------------------------------- (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) CUSIP NO. 450909106 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON Intrinsic Value Asset Management, Inc 95-4779707 - -------------------------------------------------------------------------------- 2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION California - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 960,141 NUMBER OF -------------------------------------------------------------- SHARES 6 SHARED VOTING POWER BENFICIALLY OWNED BY 0 EACH -------------------------------------------------------------- REPORTING 7 SOLE DISPOSITIVE POWER PERSON WITH 960,141 -------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 1,412,787 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENFICIALLY OWNED BY EACH REPORTING PERSON 960,141 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES |x| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 8.9% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON IA - -------------------------------------------------------------------------------- CUSIP NO. 450909106 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON IVAM Tech Fund, L.P. - -------------------------------------------------------------------------------- 2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION California - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 960,141 NUMBER OF -------------------------------------------------------------- SHARES 6 SHARED VOTING POWER BENFICIALLY OWNED BY 0 EACH -------------------------------------------------------------- REPORTING 7 SOLE DISPOSITIVE POWER PERSON WITH 960,141 -------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENFICIALLY OWNED BY EACH REPORTING PERSON 960,141 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 8.9% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- CUSIP NO. 450909106 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON Kenneth M. Luskin - -------------------------------------------------------------------------------- 2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION California - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 963,141 NUMBER OF -------------------------------------------------------------- SHARES 6 SHARED VOTING POWER BENFICIALLY OWNED BY 0 EACH -------------------------------------------------------------- REPORTING 7 SOLE DISPOSITIVE POWER PERSON WITH 963,141 -------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 1,412,787 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENFICIALLY OWNED BY EACH REPORTING PERSON 963,141 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES |x| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 8.9% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON IN, OO - -------------------------------------------------------------------------------- CUSIP NO. 450909106 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON Charles K. Fischer - -------------------------------------------------------------------------------- 2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION California - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 935,987 NUMBER OF -------------------------------------------------------------- SHARES 6 SHARED VOTING POWER BENFICIALLY OWNED BY 0 EACH -------------------------------------------------------------- REPORTING 7 SOLE DISPOSITIVE POWER PERSON WITH 0 -------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 935,987 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENFICIALLY OWNED BY EACH REPORTING PERSON 935,987 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 8.7% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------- Item 1. a) Name of Issuer: IBIS Technology Corp. b) Address: 32 Cherry Hill Drive, Danvers, MA 01923 Item 2. a) Name of Filer: Intrinsic Value Asset Management, Inc IVAM Tech Fund, L.P. Kenneth M. Luskin Charles K. Fischer b) Address of Filer: Intrinsic Value Asset Management, Inc, IVAM Tech Fund, L.P., and Kenneth M. Luskin - 127 Broadway St., Suite 202 Santa Monica, California 90401 Charles K. Fischer - P.O. Box 2477, Ft. Worth, TX 76113 c) Citizenship: Intrinsic Values Asset Management is a California Corporation, IVAM Tech Fund, L.P. is a California limited Partnership Kenneth M. Luskin is a United States citizen Charles K. Fischer is a United States citizen d) Title of Class of Securities: Common Stock e) CUSIP Number: 450909106 Item 3. Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check whether the person filing is a: (a) |_| Broker or Dealer registered under Section 15 of the Act (b) |_| Bank as defined in section 3 (a) (6) of the Act (c) |_| Insurance Company as defined in section 3 (a) (6) of the Act (d) |_| Investment Company registered under section 8 of the Investment Company Act (e) |X| An investment adviser in accordance with 240.13d- 1(b)(1)(ii)(E). (f) |_| Employee Benefit Plan, Pension Fund which is subject to the provisions of the Employee Retirement Income Security Act of 1974 or Endowment Fund; see 240.13d-1 (b) (1) (ii) (F) (g) |_| Parent Holding Company, in accordance with 240.13d-1 (b) (ii) (G) (Note: See Item 7) (h) |_| Group, in accordance with 240.13d-1(b) (1) (ii) (H) Item 4. Ownership a) Amount beneficially owned: Intrinsic Value Asset Management - 960,141 IVAM Tech Fund - 960,141 Kenneth M. Luskin - 963,141 Charles K. Fischer - 935,987 b) Percent of Class: Intrinsic Value Asset Management - 8.9% IVAM Tech Fund - 8.9% Kenneth M. Luskin - 8.9% Charles K. Fischer - 8.7% c) Number of shares: (i) Sole power to vote or to direct the vote: Intrinsic Value Asset Management - 960,141 IVAM Tech Fund - 960,141 Kenneth M. Luskin - 963,141 Charles K. Fischer - 935,987 (ii) Shared power to direct the vote: Intrinsic Value Asset Management - 0 IVAM Tech Fund - 0 Kenneth M. Luskin - 0 Charles K. Fischer - 0 (iii) Sole power to dispose or to direct the disposition of: Intrinsic Value Asset Management - 960,141 IVAM Tech Fund - 960,141 Kenneth M. Luskin - 963,141 (iv) Shared power to dispose or to direct the disposition of: Intrinsic Value Asset Management - 1,412,787 IVAM Tech Fund - 0 Kenneth Luskin - 1,412,787 Charles K. Fischer - 935,987 Item 5. Less than 5% beneficial ownership 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 [ ]. Item 6. More than 5% on behalf of another person. IVAM Tech Fund, L.P., a private investment company (the "Fund"), holds of record and beneficially 960,141 shares of the issuer. Intrinsic Value Asset Management, Inc. (the "Adviser") is registered as an investment adviser under the laws of the State of California. The Adviser is the general partner of the Fund, and may be deemed to be the beneficial owner of the 960,141 shares held by the Fund as, in the Adviser's capacity as general partner, it has the power to dispose, direct the disposition of, and vote the shares of the issuer held by the Fund. In addition, separate account clients of the Adviser own an aggregate of 1,412,787 shares of the issuer. None of such clients owns more than 5% of the outstanding shares of the issuer except Charles K. Fischer, who owns 935,987 shares. The Adviser shares the power to dispose and direct the disposition of such shares with its advisory clients. The Adviser does not vote or share voting power with respect to such shares. The Adviser disclaims beneficial ownership of such shares. Kenneth Luskin is the sole shareholder of the Adviser. Mr. Luskin owns of record and beneficially 3,000 shares of the issuer. As the controlling person of the Adviser, he may be deemed to be the beneficial owner of the 960,141 shares held by the Fund. Mr. Luskin disclaims beneficial ownership of the shares held by the separate account advisory clients of the Adviser. Item 7. Subsidiary na Item 8. If group na Item 9. Notice of Dissolution na Item 10. Certification By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired in the ordinary course of business and were not acquired for the purpose of and do not have the effect of changing or influencing the control of the issuer of such securities and were not acquired in connection with or as a participant in any transaction having such purposes 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: April 21, 2006 s/ Kenneth M. Luskin - --------------------------- KENNETH LUSKIN s/Charles K. Ficher - --------------------------- CHARLES K. FICHER IVAM TECH FUND, L.P. By: Intrinsic Value Asset Management, Inc.,its general partner s/Kenneth Luskin By: ----------------------- Kenneth Luskin, President INTRINSIC VALUE ASSET MANAGEMENT, INC. s/ Kenneth Luskin - --------------------------- By: Kenneth Luskin, President Exhibit A Joint Filing Agreement Pursuant to Rule 13d-1 This agreement is made pursuant to Rule 13d-l(k)(1) under the Securities and Exchange Act of 1934, as amended (the "Act") by and among the parties listed below, each referenced to herein as a "Joint Filer." The Joint Filers agree that a statement of beneficial ownership as required by Sections 13(g) of the Act and the Rules thereunder may be filed on each of their behalf on Schedule 13G, and that said joint filing may thereafter be amended by further joint filings. The Joint Filers state that they each satisfy the requirements for making a joint filing under Rule 13d-1. Date: April 21, 2006 s/ Kenneth M. Luskin - --------------------------- KENNETH LUSKIN s/Charles K. Ficher - --------------------------- CHARLES K. FICHER IVAM TECH FUND, L.P. By: Intrinsic Value Asset Management, Inc.,its general partner s/Kenneth Luskin By: ----------------------- Kenneth Luskin, President INTRINSIC VALUE ASSET MANAGEMENT, INC. s/ Kenneth Luskin - --------------------------- By: Kenneth Luskin, President -----END PRIVACY-ENHANCED MESSAGE-----