Irvine Sensors Corporation (ISC) and its subsidiaries (collectively, the Company) is a vision systems company enabled by technology for three-dimensional packaging of electronics and manufacturing of electro-optical products. The Company designs, develops, manufactures and sells vision systems, miniaturized electronic products and higher level systems incorporating such products for defense, security and commercial applications. The Company also performs customer-funded contract research and development related to these products for the United States government customers or contractors. The Company’s subsidiaries include Novalog, Inc. (Novalog), MicroSensors, Inc. (MSI), RedHawk Vision, Inc. (RedHawk), and iNetWorks Corporation (iNetWorks). On October 14, 2008, all of the assets of Optex Systems, Inc. (Optex), a Texas corporation and a wholly owned subsidiary of ISC, were sold to a UCC public foreclosure sale (the Optex Asset Sale).