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
[ ] Form 10-K [ ] Form 20-F [ ] Form 11-K [ X ] Form 10-Q
[ ] Form 10-D [ ] Form N-SAR [ ] Form N-CSR
For Period Ended: March 31, 2005
[ ] 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 subject distribution report on Form
10-D, 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,
10-D, N-SAR , N-CSR or the transition report or portion thereof, could not be
filed within the prescribed period.
The registrant has significantly reduced its workforce in order to conserve
funds as it seeks equity and/or debt financing. The unavailability of staff
and the need to obtain equity and/or debt financing has required the
registrant's executive officer and employees to devote substantial effort
and expense which otherwise would have been devoted to the preparation and
filing of the registrant's Quarterly Report on Form 10-QSB for the quarter
ended March 31, 2005. For such reason, 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).
[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
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.
The registrant anticipates reporting net income of approximately $1.0
million on net sales of $1.8 million for the quarter ended March 31,
2005, compared to a net loss of $256,637 on net revenues of $782,801 for
the quarter ended March 31, 2004.
Integrated Surgical Systems, Inc. has caused this notification to be signed on
its behalf by the undersigned thereunto duly authorized.
Date: May 17, 2005 Integrated Surgical Systems, Inc.
By: /s/ Charles J. Novak
--------------------------------
Charles J. Novak
Chief Financial Officer