UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
Under the Securities Exchange Act of 1934
(Amendment No. 1)(1)
INNOVATIVE TECH SYSTEMS, INC
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(Name of Issuer)
ORDINARY SHARES
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(Title of Class of Securities)
45764LY01
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(CUSIP Number)
(1) 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).
<PAGE>
CUSIP No. 45764LY01
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
DI SILVESTRI ASSET MANAGEMENT, LLC
EIN# 06-1474873
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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
CONNECTICUT, USA
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5 Sole Voting Power
Number of
Shares 903,571
Beneficially --------------------------------------------------------
Owned By 6 Shared Voting Power
Each
Reporting
Person --------------------------------------------------------
With 7 Sole Dispositive Power
903,571
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8 Shared Dispositive Power
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
903,571
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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)
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12 Type of Reporting Person
IV
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SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13G
Item 1. (a) Name of Issuer:
INNOVATIVE TECH SYSTEMS, INC.
Item 1. (b) Address of Issuer's Principal Executive Offices:
444 JACKSONVILLE ROAD, SUITE 200
WARMINSTER, PA 18974
Item 2. (a) Name of Person Filing:
DI SILVESTRI ASSET MANAGEMENT, LLC
Item 2. (b) Address of Principal Business Office:
ONE LANDMARK SQUARE, 9TH FLOOR
STAMFORD, CT 06901
Item 2. (c) Citizenship:
USA
Item 2. (d) Title of Classes of Securities:
ORDINARY SHARES
Item 2. (e) CUSIP Number:
45764L YO1
Item 3. The person is filing as a:
INVESTMENT COMPANY REGISTERED UNDER SECTION 8 OF THE INVESTMENT
COMPANY ACT OF 1940 (15 U.S.C. 80A-8).
Item 4. Ownership
(a) Amount beneficially owned: 903,571
(b) Percent of class: 7.89%
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote 903,571
(ii) Shared power to vote or to direct the vote N/A
(iii) Sole power to dispose or to direct the disposition of 903,571
(iv) Shared power to dispose or to direct the disposition of N/A
Item 5. Ownership of Five Percent or Less of a Class
N/A
Item 6. Ownership of More than Five Percent on Behalf of Another Person
THE SHARES ARE HELD WITHIN THE FUND MANAGED BY DI SILVESTRI ASSET
MANAGEMENT, AN INVESTMENT MANAGEMENT COMPANY.
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being reported on By the Parent Holding Company
N/A
Item 8. Identification and Classification of Members of the Group
N/A
Item 9. Notice of Dissolution of Group
N/A
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.
