UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
January 6, 2012
INTEGRATED SECURITY SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
Delaware | 1-11900 | 75-2422983 |
(State of incorporation) | (Commission File No.) | (IRS Employer Identification No.) |
2009 Chenault Drive, Suite 114 Carrollton, Texas | 75006 |
(Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (972) 444-8280
Not Applicable |
(Former Name or Former Address, if Changed Since Last Report) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.01
Completion of Acquisition or Disposition of Assets.
On January 6, 2012, Integrated Security Systems, Inc. (the “Company”) sold 10,350 Preferred Units of B&B Roadway Holdings, LLC, a Delaware limited liability company (“Holdings”), held by the Company to certain affiliates of Strait Lane Capital Partners LLC for a purchase price of $300,000.
In addition, on January 6, 2012, XARMR Corporation, a Delaware corporation and wholly-owned subsidiary of the Company (“XARMR”), sold a promissory note of B&B Roadway and Security Solutions, LLC, a Delaware limited liability company and wholly-owned subsidiary of Holdings (“Solutions”), in the original principal amount of $450,000, to Solutions for a purchase price of $300,000.
The Company and XARMR originally obtained these assets in connection with the sale of substantially all of the assets of XARMR to Solutions on January 31, 2011.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Dated: January 12, 2012 | By: | /s/ Russell Cleveland |
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| Russell Cleveland |
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| Chairman and Chief Executive Officer |