Item 8.01 Other Items
On November 12, 2009 the Company issued a press release which announced that it
entered into a definitive agreement to sell its 676-acre parcel of property
located in Staten Island, New York, to KB Marine Holdings LLC. The Agreement
contemplates KB Marine's purchase of 100 percent of the outstanding equity
membership interests of 380 Development, LLC, a wholly owned indirect subsidiary
of ISC and owner of the Staten Island property. The agreement calls for the
transaction to close no later than February 25, 2010.
A copy of the release is attached as an exhibit to this report.
Section 9 - Financial Statements and Exhibits
