SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
CLEVELAND RUSSELL

(Last) (First) (Middle)
8080 N. CENTRAL EXPRESSWAY SUITE 210 LB

(Street)
DALLAS TX 75206

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
INTEGRATED SECURITY SYSTEMS INC [ IZZI ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
06/01/2009
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 06/01/2009 06/01/2009 J(1) 123,206,507 A $0 146,375,053 I(2) Shares are held in Global Special Opportunities Trust Plc.
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Warrant $0.06 06/01/2009 06/01/2009 J(1) 30,811,627 06/01/2009 06/01/2014 Common Stock 30,811,627 $0 30,811,627 I(2) Shares are held in Global Special Opportunities Trust Plc.
1. Name and Address of Reporting Person*
CLEVELAND RUSSELL

(Last) (First) (Middle)
8080 N. CENTRAL EXPRESSWAY SUITE 210 LB

(Street)
DALLAS TX 75206

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
X Director 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
GLOBAL SPECIAL OPPORTUNITIES TRUST PLC

(Last) (First) (Middle)
8080 N. CENTRAL EXPRESSWAY
SUITE 210, LB 59

(Street)
DALLAS TX 75206

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
Director 10% Owner
X Officer (give title below) Other (specify below)
Vice President
Explanation of Responses:
1. Promissory Notes were converted into common shares and warrants.
2. Russell Cleveland is President of RENN Capital Group, Inc., Investment Advisor to RENN Global Entrepreneurs Fund, Inc. , Global Special Opportunities Trust Plc, Renaissance US Growth Investment Trust Plc & Premier RENN Entrepreneurial Fund Ltd and therefore may be considered to be beneficial owner of such shares. Russell Cleveland disclaims such beneficial ownership.
Remarks:
/s/Russell Cleveland 09/24/2009
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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