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Prospector
Profile
1116-03
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| Integrated Security Systems, Inc. |
NAICS |
334290 |
| 2009 Chenault Drive, Suite 114
Carrollton, TX 75006 |
Description |
Security Systems Mfg. |
| (972) 444-8280 |
Employees |
43 |
| http://www.integratedsecurity.com/ |
Revenue |
(mil) |
10.7130 |
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Income |
(mil) |
-4.8310 |
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Assets |
(mil) |
6.3510 |
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Liability |
(mil) |
16.9030 |
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(for the year ended 2007-06-30) |
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Category:
Audit Concerns
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Event:
Weaver & Tidwell LLP expressed doubts on the ability of Integrated Security Systems, Inc. to continue as a going concern due to its significant losses from operations. The Company reported a net loss of $4,831,379 on sales of $10,713,437 for the year ended June 30, 2007, compared to a net loss of $4,208,981 on sales of $12,278,165 for the year ended June 30, 2006. The Company's balance sheet as of June 30, 2007 showed an accumulated deficit of $46,353,689, stockholder's deficit of $10,552,084 and working capital deficit of $443,846.
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Intellectual Property:
The Intelli-SiteŽ software product, designed and developed by its Intelli-Site, Inc. subsidiary, allows automated security and facility controls system integration. This software allows a customer to decouple the selection of software from hardware, so that a customer can mix and match different hardware, from various manufacturers, into a single, integrated system. [SEC Filing 10-KSB 10-15-07]
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Description:
The Company designs, develops, manufactures, distributes and services security and traffic control products used in the commercial, industrial and government sectors through three wholly-owned subsidiaries, B&B ARMR Corporation, DoorTek Corporation and Intelli-Site, Inc.
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Officers:
C.A. Rundell, Jr. (Chair); Vernon H. Foersterling, Jr. (Pres. & CEO); Richard B. Powell (VP, CFO & Sec.); William Breedlove (Dir.); Rusell Cleveland (Dir.); Robert M. Galecke (Dir.); Frank R. Marlow (Dir.)
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Auditor:
Weaver & Tidwell LLP
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Securities:
100,926,339 common shares outstanding as of September 29, 2007.
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