UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No._____)*
Mind C.T.I. Ltd.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
M70240102
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(CUSIP Number)
December 31, 2004
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(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)
*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).
Page 1 of 10 pages
CUSIP NO. M70240102 13G Page 2 of 10 Pages
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1. Name of Reporting Person.
I.R.S. Identification Nos. of Above Persons (entities only).
Oberweis Asset Management, Inc.
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2. Check the Appropriate Box If a Member of a Group (See Instructions)
Not Applicable (a) [_]
(b) [_]
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3. SEC Use Only
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4. Citizenship or Place of Organization
Illinois
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5. Sole Voting Power
NUMBER OF None
SHARES -------------------------------------------------------------
BENEFICIALLY 6. Shared Voting Power
OWNED BY 1,123,000
EACH -------------------------------------------------------------
REPORTING 7. Sole Dispositive Power
PERSON None
WITH -------------------------------------------------------------
8. Shared Dispositive Power
1,123,000
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,123,000
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10. Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
Not Applicable [_]
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11. Percent of Class Represented by Amount in Row (9)
5.3%
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12. Type of Reporting Person (See Instructions)
IA
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CUSIP NO. M70240102 13G Page 3 of 10 Pages
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1. Name of Reporting Person.
I.R.S. Identification Nos. of Above Persons (entities only).
James D. Oberweis
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2. Check the Appropriate Box If a Member of a Group (See Instructions)
Not Applicable (a) [_]
(b) [_]
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3. SEC Use Only
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4. Citizenship or Place of Organization
U.S.A.
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5. Sole Voting Power
NUMBER OF None
SHARES -------------------------------------------------------------
BENEFICIALLY 6. Shared Voting Power
OWNED BY 1,123,000
EACH -------------------------------------------------------------
REPORTING 7. Sole Dispositive Power
PERSON None
WITH -------------------------------------------------------------
8. Shared Dispositive Power
1,123,000
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,123,000
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10. Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
Not Applicable [_]
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11. Percent of Class Represented by Amount in Row (9)
5.3%
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12. Type of Reporting Person (See Instructions)
IN
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CUSIP NO. M70240102 13G Page 4 of 10 Pages
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1. Name of Reporting Person.
I.R.S. Identification Nos. of Above Persons (entities only).
James W. Oberweis
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2. Check the Appropriate Box If a Member of a Group (See Instructions)
Not Applicable (a) [_]
(b) [_]
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3. SEC Use Only
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4. Citizenship or Place of Organization
U.S.A.
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5. Sole Voting Power
NUMBER OF None
SHARES -------------------------------------------------------------
BENEFICIALLY 6. Shared Voting Power
OWNED BY 1,123,000
EACH -------------------------------------------------------------
REPORTING 7. Sole Dispositive Power
PERSON None
WITH -------------------------------------------------------------
8. Shared Dispositive Power
1,123,000
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,123,000
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10. Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
Not Applicable [_]
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11. Percent of Class Represented by Amount in Row (9)
5.3%
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12. Type of Reporting Person (See Instructions)
IN
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Item 1(a) Name of Issuer:
Mind C.T.I. Ltd.
Item 1(b) Address of Issuer's Principal Executive Offices:
Industrial Park
Building #7
Yoqneam, 20692, Israel
Item 2(a) Name of Person Filing:
Oberweis Asset Management, Inc. ("OAM")
James D. Oberweis
James W. Oberweis
Item 2(b) Address of Principal Business Office or, if none,
Residence:
OAM, James D. Oberweis and James W. Oberweis
are located at:
951 Ice Cream Drive, Suite 200
North Aurora, IL 60542
Item 2(c) Citizenship:
OAM is an Illinois Corporation.
James D. Oberweis and James W. Oberweis are
U.S. citizens.
Item 2(d) Title of Class of Securities:
Common Stock
Item 2(e) CUSIP Number:
M70240102
Item 3 Type of Person:
(e) OAM is an investment adviser in
accordance with Section 240.13d-1(b)
(1)(ii)(E). James D. Oberweis and
James W. Oberweis are the principal
stockholders of OAM.
Item 4 Ownership (at December 31, 2004):
(a) Amount owned "beneficially" within
the meaning of rule 13d-3:
1,123,000 shares
(b) Percent of class:
5.3% (based on 20,997,320 shares
outstanding on December 31, 2003)
Page 5 of 10 pages
(c) Number of shares as to which such
person has:
(i) sole power to vote or to
direct the vote: none
(ii) shared power to vote or
to direct the vote:
1,123,000
(iii) sole power to dispose or
to direct the disposition
of: none
(iv) shared power to dispose
or to direct disposition
of: 1,123,000
OAM serves as investment adviser to The
Oberweis Funds (the "Fund"). Various of
OAM's shareholders and employees are also
officers and trustees of the Fund, but OAM
does not consider the Fund to be controlled
by such persons. Although the Fund is not
controlled by OAM, pursuant to Rule 16d-3(a)
the 1,123,000 shares beneficially owned by
the Fund, with respect to which the Fund has
delegated to OAM shared voting power and
shared dispositive power, are considered to
be shares beneficially owned by OAM by
reason of such delegated powers. In addition
to the shares beneficially owned by the
Fund, other clients of OAM may own shares
which are not included in the aggregated
number of shares reported herein because OAM
does not have or share voting or investment
power over those shares.
Item 5 Ownership of Five Percent or Less of a Class:
Not Applicable
Item 6 Ownership of More than Five Percent on Behalf of
Another Person:
The shares reported herein have been
acquired on behalf of discretionary clients
of OAM. Persons other than OAM are entitled
to receive all dividends from, and proceeds
from the sale of, those shares.
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
Page 6 of 10 pages
Item 10 Certification:
By signing below I certify that, to the best of my knowledge and belief, the
securities referred to above were acquired and are held in the ordinary course
of business and 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.
Page 7 of 10 pages
Signature
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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 14, 2005
The undersigned corporation, on the date above written, agrees and
consents to the joint filing on its behalf of this Schedule 13G in
connection with its beneficial ownership of the security reported
herein.
OBERWEIS ASSET MANAGEMENT, INC.
By: /s/ Patrick B. Joyce
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Patrick B. Joyce
Executive Vice President
The undersigned individual, on the date above written, agrees and
consents to the joint filing on his behalf of this Schedule 13G in
connection with his beneficial ownership of the security reported
herein.
By: /s/ James D. Oberweis
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James D. Oberweis
The undersigned individual, on the date above written, agrees and
consents to the joint filing on his behalf of this Schedule 13G in
connection with his beneficial ownership of the security reported
herein.
By: /s/ James W. Oberweis
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James W. Oberweis
Page 8 of 10 pages
Exhibit Index
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Exhibit 1 Joint Filing Agreement dated as of February 14, 2005 between
Oberweis Asset Management, Inc., James D. Oberweis and
James W. Oberweis
Page 9 of 10 pages