NT 10-K 1 d80582ntnt10-k.txt NOTIFICATION OF LATE FILING FOR JUNE 30, 2000 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 12b-25 NOTIFICATION OF LATE FILING (Check One): [X] Form 10-K [ ] Form 20-F [ ] Form 11-K [ ] Form 10-Q [ ] Form N-SAR
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. Page 1 of 3 2 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. Page 2 of 3 3 Integrated Security Systems, Inc. ----------------------------------------------- (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. -------------------- ------------------------------------ Director, Chairman of the Board, and Chief Executive Officer Page 3 of 3