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Organization and Operations

9 Months Ended

Sep. 30, 2016

Organization, Consolidation and Presentation Of Financial Statements [Abstract]

Nature of Operations [Text Block]

1. Organization and Operations

Integrated Surgical Systems, Inc. (the “Company”) was incorporated in Delaware in 1990 to design, manufacture, sell and service image-directed, computer-controlled robotic software and hardware products for use in orthopedic surgical procedures.  On June 28, 2007, the Company completed the sale of substantially all of its operating assets.  After completion of the sale, the Company no longer engaged in any business activities related to its former business, described above. The Company’s current operations are limited to completing a business combination or strategic alliance.

As of September 20, 2016, the Company signed a letter of intent to pursue the acquisition of theMaven Network, Inc. and on October 14, 2016, it signed a share exchange agreement with theMaven Network, Inc. and its shareholders to acquire the company as a wholly owned subsidiary. The closing is expected to take place within a few weeks, but before December 31, 2016.

If the Company does not complete the above mentioned acquisition of theMaven Network, Inc., then the Company does not have an estimate as to when it will complete a qualified merger, acquisition, or strategic alliance. There is no assurance that such opportunities will be available, or if available, upon favorable terms. If the Company is unsuccessful in completing a suitable merger, acquisition or strategic alliance, then the Board of Directors may liquidate the Company and distribute all its remaining assets, which consist primarily of cash and available-for-sale securities, to its stockholders.

The Company believes that if it identifies and completes a suitable merger, acquisition or strategic alliance target, it may need additional capital to complete the transaction or fund the continuing acquired operations. The Company, at this time, cannot estimate the amount of financing it may need for a transaction. There is no assurance that it will be able to obtain any required funding for a transaction, or that if it is obtainable it will be on acceptable terms.

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- Definition

The entire disclosure for the nature of an entity's business, major products or services, principal markets including location, and the relative importance of its operations in each business and the basis for the determination, including but not limited to, assets, revenues, or earnings. For an entity that has not commenced principal operations, disclosures about the risks and uncertainties related to the activities in which the entity is currently engaged and an understanding of what those activities are being directed toward.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64851502&loc=d3e6003-108592

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 2A
-URI http://asc.fasb.org/extlink&oid=64851502&loc=SL51803626-108592

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- References

No definition available.

+ Details

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