<SEC-DOCUMENT>0001144204-12-067689.txt : 20130315
<SEC-HEADER>0001144204-12-067689.hdr.sgml : 20130315
<ACCEPTANCE-DATETIME>20121212172628
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001144204-12-067689
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20121212

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INTEGRATED SURGICAL SYSTEMS INC
		CENTRAL INDEX KEY:			0000894871
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				680232575
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		401 WILSHIRE BLVD.,
		STREET 2:		SUITE 1020
		CITY:			SANTA MONICA,
		STATE:			CA
		ZIP:			90401
		BUSINESS PHONE:		310-526-5000

	MAIL ADDRESS:	
		STREET 1:		401 WILSHIRE BLVD.,
		STREET 2:		SUITE 1020
		CITY:			SANTA MONICA,
		STATE:			CA
		ZIP:			90401
</SEC-HEADER>
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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attorneys at Law | 437 Madison Ave., New York, NY 10022-7020</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">T(212) 907-7300 | F(212) 754-0330 | <FONT STYLE="text-underline-style: none; color: windowtext">www.golenbock.com</FONT></P></TD></TR>
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<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in">December 12, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Via E-Mail </U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.05in 0pt 0">Mr. Brian Cascio</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.05in 0pt 0">Accounting Branch Chief</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.05in 0pt 0">United States Securities and &#9;Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.05in 0pt 0">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>Re:</B></TD><TD STYLE="text-align: justify"><B>Integrated Surgical Systems, Inc.</B></TD>
</TR></TABLE>

<P STYLE="margin: 0pt 0 0pt 1in"><B>Form 10-K for the fiscal year ended December 31, 2011</B></P>

<P STYLE="margin: 0pt 0 0pt 1in"><B>Filed March 28, 2012</B></P>

<P STYLE="margin: 0pt 0 0pt 1in"><B>Forms 10-Q for the quarterly periods ended March 31, 2012, June 30, 2012 and September 30,
2012</B></P>

<P STYLE="margin: 0pt 0 0pt 1in"><B>Filed May 11, 2012, August 15, 2012 and November 14, 2012</B></P>

<P STYLE="margin: 0pt 0 0pt 1in"><B>File No. 001-12471</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Mr. Cascio:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-indent: 0.5in">Our client, Integrated Surgical
Systems, a Delaware corporation, has forwarded to me your letter to the company of November 28, 2012, in which you set forth several
comments. I am responding to the comments on behalf of the company. Each of the comments is reproduced below with the company response
thereafter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-indent: 0.5in">If you have further questions
about this response or other comments on the Form 10-K filed on March 28, 2012, or on the Forms 10-Q filed May 11, 2012, August
15, 2012 and November 14, 2012, please forward them to me as well as to the company. My email address is ahudders@golenbock.com,
and my telephone number is 212-907-7349.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Form 10-K for the fiscal year ended December 31, 2011</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Item 1. Business, page 3</U></B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1.&#9;We note your disclosure that in the future you may make
an equity investment in the shares of a privately-held company that you may distribute to your shareholders by means of a dividend
distribution. Please tell us how you plan to structure such a distribution, given that it appears your shareholders who will receive
the shares as a dividend will be considered underwriters of the distribution of the shares, and therefore the exemption from registration
under Section 4(1) of the Securities Act of 1933 would not be available for the resale of those shares by your shareholders. In
this regard, please also tell us how the transfers of ClearSign shares to your shareholders was consistent with Section 5 of the
Securities Act and how you determined that transaction was &ldquo;registered as part of the [ClearSign] offering,&rdquo; as you
state in your Form 8-K dated April 26, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0"><B><U>Response:</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">The company acknowledges the statement
made in its Form 10K Annual Report identified by the Staff that the company might make future equity investments and distribute
such shares. However, after discussions with counsel after the filing of the Form 10K, and considering the special obligations
of being a company regulated under the Investment Company Act of 1940 as amended (the &ldquo; 1940 ICA&rdquo;), the company does
not intend to make any investments in equity securities that would cause it to become a company regulated under the 1940 ICA. Therefore,
the company would not be in a position to make any distributions of shares in the future. The company will edit the disclosure
in the reports it files with the SEC in the future to eliminate these references.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">The shares of common stock held
by the company in ClearSign Combustion Corporation (&ldquo;ClearSign&rdquo;) were registered for distribution by the company under
a selling shareholder prospectus which formed a part of the ClearSign registration statement on Form S-1, Registration Statement
No. 333-177946, which prospectus was dated April 24, 2012 and filed with the SEC under Rule 424(b)(3) on May 1, 2012. This prospectus
included on page 59 thereof, in the plan of distribution, a reference that the shares registered in the aforementioned registration
statement and included in the selling shareholder prospectus, might be distributed as a dividend or otherwise by the holder of
the shares. A copy of the prospectus was delivered prior to or with the delivery of the share certificates representing the dividend
distribution made by the company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">The distribution of the ClearSign
shares was declared as a dividend on April 24, 2012, payable to shareholders of the company on May 9, 2012, with a pay date of
May 23, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">Therefore, because the distribution
of the ClearSign shares by the company was a registered distribution, the distribution was not made under any exemption under Section
4(1) of the Securities Act of 1933, as amended (&ldquo;Securities Act&rdquo;), and the shares as received by the shareholders of
the company were tradable without restriction. Since the shares were distributed in a registered transaction, and the shareholders
of the company received a prospectus in connection with their receipt of the shares, the distribution was consistent with Section
5 of the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Item 8. Financial Statements and Supplementary Data, page
20</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2.&#9;Given the proportion of your assets comprised of investment
securities and the proportion of your income comprised of income from such investment securities, please explain why you should
not be considered an &ldquo;investment company&rdquo; within the meaning of Section 3 of the Investment Company Act of 1940.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0"><B><U>Response: </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">The company acknowledges that
the investment and holding of the shares of ClearSign was a significant holding and would have caused it to be considered a company
subject to the requirements of the 1940 ICA, but for the exemption available to &ldquo;transient investment companies.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">The company has always held itself
out to be a company seeking an investment in an operating company which would represent all if its investment, either through a
direct merger of an operating company with the company or as a holding company structure. Since the beginning of 2007, the company
has considered merger or acquisition targets with approximately seven entities. The company has monitored its investments so that
it would not be an investment company under the 1940 ICA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">The fact that the company made
an investment in ClearSign was an anomaly. The company had been an operating company until 2007, and thereafter only held cash
or equivalent assets until it made the single investment in 2011 in the ClearSign shares. Therefore, the reasonable investor would
not consider the company to be an investment company. (See <I>SEC v. National Presto Industries, Inc.</I> 486 F.3d 305 (2007).)
Additionally, the company also relied on Rule 3a-2 under the 1940 ICA to provide an exclusion from the application of the requirements
of the 1940 ICA for a limited time. The company believes it is entitled to rely on Rule 3a-2 because its single investment position
was only for a period of one year, the company maintains a <I>bonafide</I> intent to engage primarily in a business other than
that of investing, reinvesting, owing, holding or trading in securities, and its history has been that of being an operating company
or, more recently, seeking to engage in an operating business. The company is exploring several merger/acquisition opportunities
at this time, one of which is a telephone call center business and the other is a patent consulting business. Over the years since
2007, after it terminated its former business operations, the company has explored approximately five other merger/acquisition
opportunities from time to time. Given the volatility of the markets, the market crash and severe recession since 2007, there were
not many transactions offered that provided a viable business or reasonable expectation of a satisfactory return on investment
and operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">The company further believes that
it is entitled to rely on Rule 3a-2 because it took steps to distribute the shares within the one year period since its acquisition
of the ClearSign shares. The acquisition of the ClearSign shares was May 10, 2011. The company declared the dividend of those shares
as of April 24, 2012, with a record date of May 9, 2012. As of May 9, 2012, the dividend was irrevocable. The fact that the payment
date of May 23, 2012, was after the one year anniversary was only because of the issues surrounding the trade settlement rules
and the timing required to obtain, print and distribute the prospectus and stock certificates. Generally speaking, the Staff has
acknowledged that if significant steps to terminate a transient investment company position within the one year have been taken,
the fact that the period of holding securities slightly longer than the one year period will not be sufficient to eliminate the
availability of the exclusion of Rule 3a-2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">The company is now carefully monitoring
its investment positions so as not to become an investment company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Form 10-Q for the quarter periods ended March 31, 2012,
June 30, 2012 and September 30, 2012</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Item 4. Controls and Procures</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Evaluation of Disclosure Controls and Procedures</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3.&#9;We reference the statement that you conducted an evaluation
of the Company&rsquo;s disclosure controls and procedures as of December 31, 2011 and concluded that they were effective, as of
<I>that date</I>. Please tell us the results of your assessments of disclosure controls and procedures as of March 31, 2012, June
30, 2012 and September 30, 2012. Please note that under Item 307 of Regulation S-K and Exchange Act Rule 13a-15(b), you must perform
an assessment of disclosure controls and procedures as of the end of the periods covered by each quarterly and annual report. Please
also confirm to us that you will include the appropriate disclosure in future quarterly filings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0"><B><U>Response: </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">The results of our assessments
of disclosure controls and procedures as of March 31, 2012, June 30, 2012 and September 30, 2012, were effective in each instance.
There was no change in our disclosure controls and procedures since the end of December 31, 2011, other than the inadvertent omission
of the required statement. As such we will increase our vigilance of our procedures to make sure that necessary and required disclosure
about our disclosure controls and procedures will be made in the future. We confirm that we will make the appropriate disclosure
in the future quarterly filings of the company with the Securities and Exchange Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">The company acknowledges that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">&bull;&#9;the company is responsible
for the adequacy and accuracy of the disclosure in the filing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">&bull;&#9;staff comments or changes
to disclosure in response to staff comments do not foreclose the Commission from taking any action with respect to the filing;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">&bull;&#9;the company may not
assert staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws
of the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 61%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 39%; padding: 0; text-indent: 0">Sincerely,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">/S/ Andrew D. Hudders</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Andrew D. Hudders</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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#:__9
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
