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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
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(Check One): [X] Form 10-K [ ] Form 20-F [ ] Form 11-K [ ] Form 10-Q [ ] Form N-SAR
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For Period Ended: June 30, 2000
[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended:
Commission File Number 1-11900
CUSIP Number 45812J 10 1
If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates:
PART I - REGISTRANT INFORMATION
Integrated Security Systems, Inc.
8200 Springwood Drive, Suite 230
Irving, TX 75063
PART II - RULES 12b-25(b) AND (c)
If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed.
(a) The reasons described in reasonable detail in Part III of this
form could not be eliminated without unreasonable effort or
expense;
(b) The subject annual report, semi-annual report, transition
report on Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion
thereof, will be filed on or before the fifteenth calendar day
following the prescribed due date; or the subject quarterly
[ ] report of transition report on Form 10-Q, or portion thereof
will be filed on or before the fifth calendar day following
the prescribed due date; and
(c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
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PART III - NARRATIVE
The Company is currently awaiting financing information and is delaying
filing of the Form 10-KSB for possible disclosure implications. The Company
anticipates filing the Form 10-KSB on or before October 13, 2000.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
David H. Oden
Haynes and Boone, LLP
(214) 651-5560
(2) Have all other periodic reports required under Section 13 or 15(d) of
the Securities Exchange Act of 1934 or Section 30 of the Investment
Company Act of 1940 during the preceding 12 months or for such shorter
period than the registrant was required to file such report(s) been
filed? If answer is no, identify report(s). [X] Yes [ ] No
(3) Is it anticipated that any significant change in results of operations
from the corresponding period for the last fiscal year will be
reflected by the earnings statements to be included in the subject
report or portion thereof? [X] Yes [ ] No
Sales for fiscal 2000 increased 12.6% to $6.5 million from $5.8 million for the
previous year. This increase is the result of increased Intelli-Site(R) software
sales and end-user system installations. Gross margin as a percent of sales
remained comparable for the fiscal years ended June 30, 2000 and 1999.
Operating expenses decreased to $4.6 million during fiscal 2000 from $6.0
million in the previous fiscal year. Approximately $0.5 million of the decrease
during the current year is due to decreases in recruiting and relocation
expenses at the Intelli-Site, Inc. subsidiary. The additional decrease is
attributable to a one-time charge in fiscal 1999 of $0.9 million for the
dissolution of the partnership that was originally formed to fund marketing and
sales of the Intelli-Site(R) software product.
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Integrated Security Systems, Inc.
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(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Date: September 28, 2000 By: /s/ C. A. Rundell, Jr.
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Director, Chairman of the Board, and
Chief Executive Officer
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