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CUSIP NUMBER 091736108 13G Page 2 of 6 Pages
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
BITSTREAM INC.
(Name of Issuer)
CLASS A COMMON STOCK
(Title of Class of Securities)
091736108
(CUSIP Number)
Check the following box if a fee is being paid with this statement [ ]. (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).
*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).
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CUSIP NUMBER 091736108 13G Page 3 of 6 Pages
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1. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
INTRINSIC VALUE ASSET MANAGEMENT
# ###-##-####
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA, U.S.A.
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NUMBER OF 5. SOLE VOTING POWER
11,000
SHARES ----------------------------------------------------------
6. SHARED VOTING POWER
BENEFICIALLY
468,600
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OWNED BY
7. SOLE DISPOSITIVE POWER
EACH
479,600
REPORTING ----------------------------------------------------------
PERSON
8. SHARED DISPOSITIVE POWER
WITH
0
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
479,600
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CUSIP NUMBER 091736108 13G Page 4 of 6 Pages
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.5%
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12. TYPE OF REPORTING PERSON*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G UNDER THE SECURITIES
EXCHANGE ACT OF 1934
Item 1.
(a) NAME OF ISSUER: Bitstream Inc.
(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
215 First Street
Cambridge, MA 02142
Item 2.
(a) NAME OF PERSON FILING: Intrinsic Value Asset Management
(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE:
Intrinsic Value Asset Management
24955 Pacific Coast Highway, Suite C-204
Malibu, California 90265
(c) CITIZENSHIP: Intrinsic Value Asset Management was formed in California.
(d) TITLE OF CLASS OF SECURITIES: Class A Common Stock
(e) CUSIP NUMBER: 091736h108
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CUSIP NUMBER 091736108 13G Page 5 of 6 Pages
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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)(19) of the Act.
(d)_____ Investment company registered under Section 8 of the Investment
Company Act of 1940.
(e) X Investment adviser registered under Section 203 of the Investment
Advisers Act of 1940.
(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 Sec 240.13d-1(b)(1)(ii)(F).
(g)_____ Parent Holding Company, in accordance with Sec 240.13d-1(b)(ii)(G)
(Note: See Item 1).
(h)_____ Group, in accordance with Sec 240.13d-1(b)(1)(ii)(H).
Item 4. Ownership.
(a) Amount beneficially owned:
479,600 shares may be deemed beneficially owned within the meaning of
Rule 13d-3 of the Securities Exchange Act of 1934 by Intrinsic Value Asset
Management.
(b) Percent of Class:
6.5%
(c) For information on voting and dispositive power with respect to the
above listed shares, see Items 5-8 of the Cover Page.
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:
[ ]
Item 6. Ownership of more than Five Percent on Behalf of Another Person.
The shares of common stock to which this Schedule relates are held in
investment advisory accounts of Intrinsic Value Asset Management. As a result,
various persons have the right to receive or the power to direct the receipt of
dividends from, or the proceeds from the sale of, the securities.
The shares were purchased for investment purposes. Intrinsic Value Asset
Management will work together with management to increase shareholder value.
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CUSIP NUMBER 091736108 13G Page 6 of 6 Pages
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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 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: October 15, 1999
INTRINSIC VALUE ASSET MANAGEMENT
By: /s/ Ken Luskin
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Ken Luskin
