8-K

UNITED STATES

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): January 12, 2006

Action Products International, Inc.

(Exact name of registrant as specified in its charter)

Florida	001-13118	59-2095427
(State of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

1101 N. Keller Road, Suite E

Orlando, Florida 32810

(Address of principal executive office, including zip code)

(407) 481-8007

(Telephone number, including area code)

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:

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

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

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

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

Item 8.01 Other Events.

On January 12, 2006, Action Products International, Inc. (the Company) issued a press release setting forth the terms of common stock warrant dividend declared on October 28, 2005. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.

The information in this report, including the exhibit hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended. The information contained herein and in the accompanying exhibit shall not be incorporated by reference into any filing with the Securities and Exchange Commission made by the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

Item 9.01 Financial Statements and Exhibits.

(a)  Financial Statements of Business Acquired: None

(b)  Pro Forma Financial Information: None

(c)  Exhibits:

Exhibit No.	Description
99.1	Press release, dated January 13, 2006, issued by Action Products International, Inc.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.

ACTION PRODUCTS INTERNATIONAL, INC.
By:	/s/ JOHN R. OLIVER
	John R. Oliver Chief Financial Officer
Date: January 13, 2006

EX-99.1

Exhibit 99.1

Press Release

Action Products Revises Warrant Terms

ORLANDO, FL – January 12, 2006 – Action Products International, Inc. (NASDAQ-CM: APII) - Today the Board of Action Products has elected to reduce the price of the warrant dividend declared on October 28, 2005. The previous terms were $3.75 per share on or before July 31, 2006 and $4.25 per share on or after August 1, 2006 through January 31, 2007. The new terms are $3.25 per share on or before July 31, 2006 and $3.75 per share on or after August 1, 2006 through January 31, 2007. The warrant will be paid to shareholders of record on Wednesday January 18, 2006. The ex-dividend date is Friday January 13, 2006. The distribution and exercise warrant is subject to the delivery of a final prospectus.

Contacts:	Ray Oliver, Investor Relations Officer 407/481-8007 extension 723
	Adam Ben-Evi, SBW Alliance Group 407-647-9974