Integrated Security Systems, Inc. announces SB-2 registration statement effective date.IRVING, TX--(BUSINESS WIRE)--May 2, 1997--Integrated Security Systems, Inc. ("ISSI ISSI International Space Science Institute ISSI Inter-Switching System Interface ISSI International Society for Self and Identity ISSI International Society for Skin Imaging (Bochum, Germany) ISSI Internet Security Systems Inc. ") [Nasdaq SmallCap Market: IZZI (Common Shares); IZZIW (Warrants)] announced today that 8.7 million shares of common stock previously issued, or issuable under outstanding warrants and convertible preferred stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". , have been registered with the Securities and Exchange Commission via Form SB-2. The registration became effective at noon today. Gerald K. Beckmann, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , stated, "This Registration, initially filed on May 31, 1996, fulfills the Company's registration obligations undertaken when certain securities were originally issued. The underlying common shares from the warrants sold in the Company's 1993 initial public offering account for 3.0 million of the shares being registered. Each warrant, when exercised, results in 2.1 common shares at an exercise price of $3.17 per share. An additional 2.3 million common shares underlying previously issued convertible preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. , which increased the Company's shareholder equity by $2.3 million, were also registered. The remaining 3.4 million registered common shares represent shares previously issued or issuable under outstanding warrants or options with a $1.75 per share average exercise price." Headquartered in Irving, Texas Irving (pronounced 'er-ving') is a city located in the U.S. state of Texas within Dallas County. According to the 2000 U.S. Census, the city population was 191,615; the 2006 estimate was 201,927 according to the North Central Texas Council of Governments, and 196,084 according to , ISSI is a developer, manufacturer and national supplier of total security solutions for the industrial and commercial marketplaces. ISSI is also a leading supplier of automatic gates and lane changers
The Changers are a fictional group of anti-hero published by Wildstorm an imprint of DC Comics. to the US road and bridge industry and of specialized products to the financial and healthcare industries. ISSI conducts its manufacturing, distribution and systems integration activities as a holding company through four wholly-owned subsidiaries, B&B Electromatic, Inc., Golston Company, Inc., Innovative Security Technologies, Inc. and Tri-Coastal Systems, Inc. CONTACT: Integrated Security Systems, Inc. Gerald K. Beckmann, President & CEO (972) 444-8280 or ISSI'S INVESTOR RELATIONS Investor relations The process by which the corporation communicates with its investors. COUNSEL: The Equity Group Inc. Caroline Royall (212) 836-9611 Robert Goldstein (212) 371-8660 |
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