U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): June 27, 2007

Photonic Products Group, Inc.
(Exact name of registrant as specified in its charter)

 

 

 

Registrant’s telephone number, including area code:  (201) 767-1910

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

Item 8.01. Other Events

Photonic Products Group, Inc. (PPGI, the “Company”) has authorized at a meeting of its Board of Directors on June 27, 2007 to pre-pay $500,000 of principal on its current $1,000,000 Subordinated Convertible Note maturing on March 31, 2008. The payment will be made on or about June 28, 2007. The holder of the Note, Clarex Limited, has agreed to waive its right to apply payment first to accrued and unpaid interest, before reducing the balance of the principal.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

Date:    June 28, 2007
	By:	/s/ Daniel Lehrfeld
		(Daniel Lehrfeld)
		Chief Executive Officer

 

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