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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. 2)*
Integrated Security Systems, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, Par Value $.01 per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
- --------------------------------------------------------------------------------
(CUSIP Number)
Gary D. Halbert, President
ProFutures Fund Management, Inc.
11612 Bee Cave Road, Suite 100, Austin, Texas 78733
(512) 263-3800
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
April 1, 1999
- --------------------------------------------------------------------------------
(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 which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
Check the following box if a fee is being paid with the statement [ ]. (A fee
is not required only if the reporting 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.)
Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) 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).
<PAGE> 2
SCHEDULE 13D
CUSIP NO. PAGE 2 OF 7 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ProFutures Bridge Capital Fund, L.P.
74-2786949
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DL
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 455,000
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 455,000
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
455,000
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
455,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
455,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.911%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 2 of 7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 3
SCHEDULE 13D
CUSIP NO. PAGE 3 OF 7 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Pro Futures Special Equities Fund, L.P.
74-2786952
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DL
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 0
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 455,000
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
0
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
455,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
455,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.911%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 4
SCHEDULE 13D
CUSIP NO. PAGE 4 OF 7 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
James H. Perry, Jr.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 0
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 455,000
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
0
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
455,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
455,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.911%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 2 of 7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 5
Page 5 of 7 pages
--------------Schedule 13D (cont'd)--------------
INTEGRATED SECURITY SYSTEMS, INC.
The Group, consisting of ProFutures Bridge Capital Fund, L.P. ("PBCF"),
ProFutures Special Equities Fund, L.P. ("PSEF") and James H. Perry, Jr. hereby
amends the Group's Statement on Schedule 13D (the "Statement") filed on
December 31, 1996 in connection with the Group's ownership of shares of Common
Stock, par value $.01 per share (the "Common Stock"), of Integrated Security
Systems, Inc. (the "Company"):
Item 5 of the Statement, "Interest in Securities of the Issuer," is
hereby amended by adding the following statements:
(a) and (b) The aggregate number of shares of Common Stock owned
beneficially by members of the Group as of the close of business on April 1,
1999 was 455,000, or approximately 4.911% of the shares of Common Stock
outstanding. This percentage is based upon 9,263,993 of Common Stock reported
to be outstanding, as of March 31, 1999. The ownership among the members the
Group has been allocated as follows:
<TABLE>
<CAPTION>
Number of Percentage Ownership
Shares Directly of
Owned Outstanding Shares
<S> <C> <C>
PBCF 455,000 4.911%
PSEF 0 0%
James H. Perry, Jr 0 0%
TOTAL 455,000 4.911%
</TABLE>
(C) The following transactions occurred with regard to the members of the
Group listed below:
<TABLE>
<CAPTION>
PSEF
- ----
Date Bought/Sold Number of Shares Price
- ---- ----------- ---------------- -----
<S> <C> <C> <C>
9/10/97 Sold -300 $2.18
9/11/97 Sold -4,200 2.06
9/22/97 Sold -3,600 2.37
9/23/97 Sold -25,000 2.40
9/24/97 Sold -20,000 2.46
9/26/97 Sold -4,900 2.48
10/8/97 Sold -1,000 2.25
2/13/98 Sold -10,000 .90
2/26/98 Sold -10,000 .75
2/27/98 Sold -9,000 .75
3/17/98 Sold -15,000 .78
3/23/98 Sold -6,000 .71
3/31/98 Sold -16,000 .59
</TABLE>
<TABLE>
<CAPTION>
PBCF
- ----
Date Bought/Sold Number of Shares Price
- ---- ----------- ---------------- -----
<S> <C> <C> <C>
7/14/98 Sold 20,000 $1.28125
1/8/99 Sold 15,000 .74
1/14/99 Sold 10,000 .74
1/28/99 Sold 40,000 .74
2/8/99 Sold 10,000 .75
3/22/99 Sold 5,000 .96875
3/23/99 Sold 15,000 1.02
4/1/99 Sold 15,000 .901
</TABLE>
<TABLE>
<CAPTION>
J.H. Perry, Jr.
- ---------------
Date Bought/Sold Number of Shares Price
- ---- ----------- ---------------- -----
<S> <C> <C> <C>
11/20/98 Sold 8091 $.84375
</TABLE>
Item 7. Material to be Filed as Exhibits.
Exhibit 1, the Joint Filing Agreement, is attached hereto.
<PAGE> 6
Page 6 of 7 Pages
SIGNATURES
After reasonable inquiry and to the best knowledge and belief of the
undersigned, the undersigned certify that the information set forth in this
Statement is true, complete and correct, and the undersigned agree that this
statement shall be filed on behalf of each of them.
Dated: April 1, 1999
PROFUTURES BRIDGE CAPITAL FUND, L.P.
By: ProFutures Fund Management, Inc.,
its authorized agent
By: /s/ Gary D. Halbert
--------------------------------
Gary D. Halbert, President
/s/ James H. Perry, Jr.
- --------------------------------
James H. Perry,Jr.
PROFUTURES SPECIAL EQUITIES FUND, L.P.
By: ProFutures Fund Management, Inc.
its authorized agent
By: /s/ Gary D. Halbert
--------------------------------
Gary D. Halbert, President
Each of such Reporting Persons certifies only the information stated herein
regarding such Reporting Person.
<PAGE> 7
EXHIBIT INDEX
<TABLE>
<CAPTION>
EXHIBIT
NUMBER DESCRIPTION
- ------- -----------
<S> <C>
1 Joint Filing Agreement
</TABLE>
<PAGE> 1
EXHIBIT 1
Joint Filing Agreement
The undersigned hereby agree that this statement is filed on behalf of each of
them.
Dated April 1, 1999
PROFUTURES BRIDGE CAPITAL FUND L.P.
By: ProFutures Fund Management, Inc., its authorized agent
By: /s/ GARY D. HALBERT
-----------------------------------
Gary D. Halbert, President
/s/ JAMES H. PERRY, JR.
-----------------------------------
James H. Perry, Jr.
PROFUTURES SPECIAL EQUITIES FUND, L.P.
By: ProFutures Fund Management, Inc., its authorized agent
By: /s/ GARY D. HALBERT
-----------------------------------
Gary D. Halbert, President
