ISC still trying to get $$ from CART

From ISC's last quarterly report – The Company recently reached settlement with the CART Liquidation Trust ("the Trust") that allows a claim in ISC's favor of $2.0 million in the CART bankruptcy. The claim is based on the failure to return ISC's sanction fee paid to CART, less allowable expenses, for the 2003 event scheduled in California that was canceled because of the state of emergency due to wildfires in Southern California at the time. Once the U.S. Bankruptcy Court, Southern District of Indiana, has approved the good faith settlement at a hearing scheduled for mid-April, the Company will be positioned to recover the first $1.5 million of the claim. If there are not sufficient funds remaining in the Trust to fully satisfy the allowed claim of $2.0 million, the Company will pursue the remaining funds, or up to $500,000, from Champ Car World Series (formerly Open Wheel Racing Series), as represented and agreed to at the CART bankruptcy hearing held in January 2004.

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