UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
SEC FILE NUMBER: 1-12471
CUSIP NUMBER: [458124 10 8]
[ ] Form 10-K [ ] Form 20-F [ ] Form 11-K [ X ] Form 10-Q
[ ] Form N-SAR [ ] Form N-CSR
For Period Ended: March 31, 2004
[ ] 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:
Nothing in this form shall be construed to imply that the Commission
has verified any information contained herein.
If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates: Not applicable
PART I - REGISTRANT INFORMATION
Full Name of Registrant: Integrated Surgical Systems, Inc.
Former Name if Applicable: Not Applicable
Address of Principal Executive Office: 1850 Research Drive
Davis, California, 95616
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.
[ X [ (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, Form 11-K, Form N-SAR or Form N-CSR, or
portion thereof, will be filed on or before the fifteenth
calendar day following the prescribed due date; or the subject
quarterly report or 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.
PART III - NARRATIVE
State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q,
N-SAR, N-CSR or the transition report or portion thereof, could not be filed
within the prescribed period.
On January 21, 2004, the Audit Committee of the Board of Directors of
the Registrant appointed Macias, Gini & Company, LLP as its new
independent auditor to audit the financial statements of the Registrant
for the year ended December 31, 2003.
On September 30, 2003 the Registrant's wholly-owned French subsidiary
("Subsidiary") was placed under the control and management of a French
administrator due to its financial condition. During the fourth quarter
the administrator caused the Subsidiary's operations to cease and its
assets to be sold. Certain financial records of the Subsidiary remain
under the control of the administrator and have not been made available
to the registrant which, along with the timing of the appointment of
the new independent auditor, has caused a delay in the ability of the
Registrant's independent auditor to complete the audit of the
registrant's financial statements for the year ended December 31, 2003.
As a result, the Company has been unable to finalize its financial
statements for the quarter ended March 31, 2004.
For such reasons, the subject Form 10-QSB could not be filed within the
prescribed period.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification: Charles J. Novak, Chief Financial Officer: (530) 792-2600
(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 that the registrant was required to file such report(s) been
filed? If the answer is no, identify report(s). [ ] Yes [ X ] 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? [ ] Yes [ X ] No If so, attach an
explanation of the anticipated change, both narratively and
quantitatively, and, if appropriate, state the reasons why a reasonable
estimate of the results cannot be made.
Integrated Surgical Systems, Inc. has caused this notification to be signed on
its behalf by the undersigned thereunto duly authorized.
Date: May 18, 2004 Integrated Surgical Systems, Inc.
By: /s/ Ramesh C. Trivedi
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Ramesh C. Trivedi, President