UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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: October 13, 2003
INTEGRATED SURGICAL SYSTEMS, INC.
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(Exact Name of Registrant as Specified in Charter)
Delaware 1-12471 68-0232575
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
1850 Research Park Drive
Davis, California 95616-4884
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(Address of principal executive offices) (Zip Code
Registrant's telephone number, including area code: (530) 792-2600
Item 5. Other Events and Required FD Disclosure.
On September 30, 2003, the Tribunal de Commerce in Lyon, France (the "Tribunal")
placed Integrated Surgical Systems S.A., a wholly-owned subsidiary of the
registrant organized under the laws of France and operating in France and
elsewhere in Europe (the "French subsidiary"), under administration by persons
appointed by the Tribunal. The Tribunal acted after a hearing in which the
registrant and the French subsidiary discussed the ability of the French
subsidiary to meet its obligations over the next four months and the
registrant's unwillingness to further fund the operations of the French
subsidiary due to the fact that the French subsidiary has consistently failed to
generate sufficient revenues so as to not require funding from the registrant.
The Tribunal authorized the appointees to manage the French subsidiary during
the four month period, including authorization for the transfer of all funds
held in the French subsidiary's bank accounts and all monies received by the
French subsidiary during the four month period to a new bank account controlled
by the appointees. The Tribunal directed the registrant and the French
subsidiary to develop plans concerning the future of the French subsidiary. The
registrant is investigating various options for conducting its European
operations in the future rather than having its European operations controlled
by the French subsidiary. The registrant presently can not determine the
ultimate outcome of the proceedings before the Tribunal, the effect of any
outcome on the business and financial condition of the registrant nor the effect
of any of the various options being formulated for conducting its European
operations in the future.
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.
Integrated Surgical Systems, Inc.
Dated: October 10, 2003 By: /s/ Charles J. Novak
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Charles J. Novak
Chief Financial Officer