4/A 1 russell4a-10112002.txt OCTOBER 11, 2002 PIK U.S. SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 4 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940 [_] Check box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). -------------------------------------------------------------------------------- 1. Name and Address of Reporting Person* Cleveland Russell -------------------------------------------------------------------------------- (Last) (First) (Middle) 8080 N. Central Expressway Suite 210 LB-59 -------------------------------------------------------------------------------- (Street) Dallas TX 75206 -------------------------------------------------------------------------------- (City) (State) (Zip) -------------------------------------------------------------------------------- 2. Issuer Name and Ticker or Trading Symbol Integrated Security Systems, Inc. (RENN) -------------------------------------------------------------------------------- 3. IRS Identification Number of Reporting Person, if an Entity (Voluntary) -------------------------------------------------------------------------------- 4. Statement for Month/Year October 11, 2002 -------------------------------------------------------------------------------- 5. If Amendment, Date of Original (Month/Year) February 2001 -------------------------------------------------------------------------------- 6. Relationship of Reporting Person to Issuer (Check all applicable) [X] Director [X] 10% Owner [_] Officer (give title below) [_] Other (specify below) -------------------------------------------------------------------------------- 7. Individual or Joint/Group Filing (Check applicable line) [X] Form filed by one Reporting Person [_] Form filed by more than one Reporting Person -------------------------------------------------------------------------------- ================================================================================ Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned ================================================================================
6. 4. 5. Owner- Securities Acquired (A) or Amount of ship 3. Disposed of (D) Securities Form: 7. Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of 2. Code ------------------------------- Owned at End (D) or Indirect 1. Transaction (Instr. 8) (A) of Month Indirect Beneficial Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership (Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4) ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 393,259 I (1)(3) ------------------------------------------------------------------------------------------------------------------------------------ Common Stock - PIK 95,215 I (1)(3) ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 10/11/02 J(1) 9,572 A $0.22 9,572 I (1)(3) ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 393,259 I (2)(3) ------------------------------------------------------------------------------------------------------------------------------------ Common Stock - PIK 95,215 I (2)(3) ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 08/27/02 J(1) 9,572 A $0.22 9,572 I (2)(3) ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ====================================================================================================================================
REMARKS: (1) Represents shares owned by Renaissance Capital Growth & Income Fund III, Inc. ("Renaissance III"). (2) Represents shares owned by Renaissance US Growth and Income Trust PLC ("Renaissance PLC"). (3) Filer is an executive officer of Renaissance Capital Group, Inc., which is Investment Advisor to Renaissance III and Investment Manager to Renaissance PLC and may be deemed the beneficial owner of such shares. Renaissance III and Renaissance PLC each own more than 10% of the Company's common stock on a fully converted basis. The reporting person disclaims such beneficial ownership. (J)(1) Represents shares of Common Stock received by each Renaissance III and Renaissance PLC as payment in kind of interest due on promissory notes. (Over) FORM 4 (continued) Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) ================================================================================
10. 9. Owner- Number ship of Form 2. Deriv- of Conver- 5. 7. ative Deriv- 11. sion Number of Title and Amount Secur- ative Nature or Derivative 6. of Underlying 8. ities Secur- of Exer- 4. Securities Date Securities Price Bene- ity: In- cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene- 1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner- Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr. (Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4) ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ Warrants Common 12,500 $1.75 12,500 I(1)(3) ------------------------------------------------------------------------------------------------------------------------------------ Warrants Common 187,500 $0.80 187,500 I(1)(3) ------------------------------------------------------------------------------------------------------------------------------------ Warrants Common 125,000 $0.80 125,000 I(1)(3) ------------------------------------------------------------------------------------------------------------------------------------ Warrants Common 364,299 $0.549 364,299 I(1)(3) ------------------------------------------------------------------------------------------------------------------------------------ $150,000 Series D Preferred Stock Common 187,500 $0.80 187,500 I(1)(3) ------------------------------------------------------------------------------------------------------------------------------------ Warrants Common 125,000 $1.00 125,000 I(1)(3) ------------------------------------------------------------------------------------------------------------------------------------ Series F Cumulative Preferred Stock Common 2,714,945 $0.20 2,714,945 I(1)(3) ------------------------------------------------------------------------------------------------------------------------------------ Series G Cumulative Preferred Stock Common 18,334,755 $0.20 18,334,755 I(1)(3) ------------------------------------------------------------------------------------------------------------------------------------ Warrants Common 1,625,000 $0.20 1,625,000 I(1)(3) ------------------------------------------------------------------------------------------------------------------------------------ ====================================================================================================================================
FORM 4 (continued) Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) ================================================================================
10. 9. Owner- Number ship of Form 2. Deriv- of Conver- 5. 7. ative Deriv- 11. sion Number of Title and Amount Secur- ative Nature or Derivative 6. of Underlying 8. ities Secur- of Exer- 4. Securities Date Securities Price Bene- ity: In- cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene- 1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner- Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr. (Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4) ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ Warrants Common 12,500 $1.75 12,500 I(2)(3) ----------------------------------------------------------------------------------------------------------------------------------- Warrants Common 125,000 $0.80 125,000 I(2)(3) ------------------------------------------------------------------------------------------------------------------------------------ Warrants Common 181,818 $0.80 181,818 I(2)(3) ------------------------------------------------------------------------------------------------------------------------------------ Warrants Common 364,299 $0.549 364,299 I(2)(3) ------------------------------------------------------------------------------------------------------------------------------------ $150,000 Series D Preferred Stock Common 187,500 $0.80 187,500 I(2)(3) ------------------------------------------------------------------------------------------------------------------------------------ Warrants Common 125,000 $1.00 125,000 I(2)(3) ------------------------------------------------------------------------------------------------------------------------------------ Series F Cumulative Preferred Stock Common 2,714,945 $0.20 2,714,945 I(2)(3) ------------------------------------------------------------------------------------------------------------------------------------ Series G Cumulative Preferred Stock Common 17,504,125 $0.20 17,504,125 I(2)(3) ------------------------------------------------------------------------------------------------------------------------------------ Warrants Common 1,625,000 $0.20 1,625,000 I(2)(3) ------------------------------------------------------------------------------------------------------------------------------------ ====================================================================================================================================
Explanation of Responses: (1) Represents shares owned by Renaissance III. (2) Represents shares owned by Renaissance PLC. (3) The reporting person is an executive officer of Renaissance Capital Group, Inc., which is Investment Adviser to Renaissance III and Investment Manager to Renaissance PLC and may therefore be deemed the beneficial owner of such shares. Renaissance III and Renaissance PLC each own more than 10% of the Company's common stock on a fully converted basis. The reporting person disclaims such beneficial ownership. /S/------------------------------------------ --October 11, 2002---- **Signature of Reporting Person Date Russell Cleveland ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure. Page 2