EX-5 2 ex5_1-fsb2040505.txt EX-5.1; OPINION OF TROUTMAN SANDERS LLP Exhibit 5.1 LEGAL OPINION OF TROUTMAN SANDERS LLP [Letterhead of Troutman Sanders LLP] April 6, 2005 Ophthalmic Imaging Systems 221 Lathrop Way, Suite I Sacramento, California 95815 Dear Sirs: We have examined the Registration Statement on Form SB-2 filed by you with the Securities and Exchange Commission on April 6, 2005 (the "Registration Statement") in connection with the registration under the Securities Act of 1933, as amended, of up to 6,000,000 shares (the "Shares") of your common stock, no par value per share, in connection with that certain Investment Agreement dated as of December 28, 2004 by and between you and Dutchess Private Equities Fund II, LP (the "Investment Agreement"). As your legal counsel in connection with the filing of the Registration Statement, we have examined the proceedings taken and are familiar with the proceedings proposed to be taken by you in connection with the sale and issuance of the shares of common stock. In connection with the foregoing, we have examined originals or copies, satisfactory to us, of your (i) Articles of Incorporation and (ii) By-laws. We have also reviewed such other matters of law and examined and relied upon all such corporate records, agreements, certificates and other documents as we have deemed relevant and necessary as a basis for the opinion hereinafter expressed. In such examination, we have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals and the conformity with the original documents of all documents submitted to us as copies or facsimiles. As to any facts material to such opinion, we have, to the extent that relevant facts were not independently established by us, relied on certificates of public officials and certificates of officers or other representatives of Ophthalmic Imaging Systems. It is our opinion that upon conclusion of the proceedings being taken or contemplated by us, as your counsel, to be taken prior to the issuance of the Shares, the Shares, when issued in the manner described in the Registration Statement and the Investment Agreement, as applicable, will be validly issued, fully paid and non-assessable. We consent to the use of this opinion as an exhibit to the Registration Statement and further consent to the use of our name under the caption "Legal Matters" in the prospectus constituting part of the Registration Statement. Very truly yours, /s/ Troutman Sanders LLP ---------------------------------- TROUTMAN SANDERS LLP