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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 3)*
Image Sensing Systems, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
45244C 10 4
(CUSIP Number)
Betty P. Papapanou, 2483 Albert Street N., Roseville, MN 55113 651-628-0343
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
July 20, 2005
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check
the following box. [ ]
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Section 240.13d-7 for other
parties to whom copies are to be sent.
* 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).
PERSONS WHO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED IN THIS FORM
ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY VALID OMB
CONTROL NUMBER.
SEC 1746(3-06)
CUSIP No. 45244C 10 4
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Betty P. Papapanou
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
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3. SEC Use Only
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4. Source of Funds (See Instructions)
Not applicable
--------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e) [ ]
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6. Citizenship or Place of Organization
USA
--------------------------------------------------------------------------------
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7. Sole Voting Power
-0-
----------------------------------------------------------------
8. Shared Voting Power
Number of
Shares Bene- 182,366
ficially by ----------------------------------------------------------------
Owned by Each 9. Sole Dispositive Power
Reporting
Person With 182,366
----------------------------------------------------------------
10. Shared Dispositive Power
-0-
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11. Aggregate Amount Beneficially Owned by Each Reporting Person
182,366
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions) [ ]
--------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
4.92
--------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions)
IN
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This amendment No. 3 (the "Amendment") amends the statement on Schedule 13D
filed by Betty Papapanou with the Securities and Exchange Commission on December
3, 2002 (the "Statement"). This Amendment supplements and, to the extent
inconsistent therewith, amends the information set forth in the Statement.
ITEM 1. SECURITY AND ISSUER
Common Stock, $0.01 par value
Image Sensing Systems, Inc.
500 Spruce Tree Centre
1600 University Avenue West
St. Paul, Minnesota 55104-3825
ITEM 2. IDENTITY AND BACKGROUND
The information previously reported in this Item of the Statement is
incorporated by reference herein.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Not applicable.
ITEM 4. PURPOSE OF TRANSACTION
The reporting person is divesting herself of select amounts of shares with
the intent to diversify her investment portfolio.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) Aggregate number of shares of common stock beneficially owned by the
reporting person: 182,366 shares.
Percentage of shares outstanding: 4.92%
(b) Number of shares with sole voting power: -0-; number of shares with
sole dispositive power: 182,366
(c) Reporting person sold 76,270 shares prior to past 60 days. In the past
60 days, the reporting person made the following sales through a
broker-dealer in brokers transactions:
Date Shares Sold Average Price
--------- ----------- -------------
1/31/2006 2,300 $ 12.8430
2/1/2006 1,900 $ 12.9553
2/3/2006 300 $ 12.5000
2/6/2006 3,300 $ 12.3685
2/7/2006 5,100 $ 12.2735
2/8/2006 10,800 $ 12.0687
2/10/2006 1,000 $ 12.6500
2/13/2006 6,300 $ 12.4351
2/14/2006 1,000 $ 12.4000
2/15/2006 2,434 $ 12.3972
2/16/2006 3,600 $ 12.6186
2/17/2006 1,500 $ 12.7060
2/21/2006 7,000 $ 12.3865
2/23/2006 100 $ 12.4000
2/24/2006 990 $ 12.2990
2/27/2006 1,350 $ 12.2759
2/28/2006 1,600 $ 12.2575
3/1/2006 2,800 $ 12.3504
3/2/2006 300 $ 12.3500
TOTALS 53,674 $12.37658
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER.
The information previously reported in this Item of the Statement is
incorporated by reference herein.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit A: Portions of the divorce decree dated June 7, 2000, relating to
the transfer and voting of shares, previously reported in this Item of the
Statement is incorporated by reference herein.
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true and complete
and correct.
Dated: March 27, 2006
/s/ Betty P. Papapanou
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Betty P. Papapanou