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): September 17, 2008

PLC Systems Inc.

(Exact Name of Registrant as Specified in Charter)

Yukon Territory, Canada	1-11388	04-3153858
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

10 Forge Park, Franklin, Massachusetts	02038
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (508) 541-8800

(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 (see General Instruction A.2. below):

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 3.01.  Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On September 17, 2008, PLC Systems Inc. (the “Company”) received notice from the American Stock Exchange LLC (“AMEX”) indicating that the Company is not in compliance with the continued listing standards set forth in Section 1003(a)(ii) of the AMEX Company Guide as a result of the Company’s stockholders’ equity being less than $4,000,000 and the Company having had losses from continuing operations and net losses in three of its four most recent fiscal years.

The Company has until October 17, 2008 to submit a plan to bring the Company back into compliance with the continued listing standards by March 17, 2010.  If the Company does not submit a plan or the plan is not accepted by AMEX, the Company’s common stock would be subject to delisting by AMEX.

A copy of the press release announcing the notification from AMEX is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01.  Financial Statements and Exhibits

(d)	Exhibits
	99.1     Press release issued by the Registrant on September 19, 2008

2

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.

	PLC SYSTEMS INC.
Date: September 19, 2008	By:	/s/ James G. Thomasch
		James G. Thomasch, Senior Vice President, Finance and Administration and Chief Financial Officer

3

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press release issued by the Registrant on September 19, 2008

4

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE	Contact: Mary T. Conway
	Conway Communications
	617-244-9682
	mtconway@att.net

PLC SYSTEMS RECEIVES DELISTING NOTICE FROM AMERICAN STOCK EXCHANGE

FRANKLIN, Mass., September 19, 2008 — PLC Systems Inc. (AMEX: PLC) today announced that it had received a notice of failure to meet listing qualifications dated September 17, 2008 from the Listing Qualifications Department staff at the American Stock Exchange. The notice stated that the Company was not in compliance with Section 1003(a)(ii) of the AMEX Company Guide because the Company’s shareholders’ equity was less than $4,000,000 as of June 30, 2008, and it incurred losses from continuing operations and net losses in three out of its four most recent fiscal years. PLC has been granted until October 17, 2008 to submit a plan to the Exchange that demonstrates the Company’s ability to regain compliance with listing standards by March 17, 2010. If the Company does not submit a plan or if the plan is not accepted by AMEX, the Company will be subject to delisting procedures.

About PLC Systems Inc.

PLC Systems Inc. is a medical technology company specializing in innovative technologies for the cardiac and vascular markets.

PLC’s newest product, RenalGuard™, is approved for sale in the EU as a general fluid balancing device. The RenalGuard System™ consists of a unique, proprietary, closed loop, software-controlled console and accompanying single-use sets that can be used by physicians and nurses to balance patient fluid levels during a variety of medical procedures. The RenalGuard System, with its matched fluid replacement capability, is intended to minimize the risk of over- or under-hydration during medical procedures where creating and maintaining high urine outputs is deemed beneficial to patients.

Headquartered in Franklin, Massachusetts, PLC pioneered the CO2 Heart Laser System, which cardiac surgeons use to perform CO2 transmyocardial revascularization (TMR) to alleviate symptoms of severe angina. CO2 TMR offers a treatment option for angina patients who suffer from severe coronary artery disease. The CO2 Heart Laser is the world’s first TMR angina relief device cleared for commercial distribution by both the U.S. Food and Drug Administration and Japanese Ministry of Health, Labor and Welfare, and to obtain a CE Mark for European distribution.

Additional company information can be found at www.plcmed.com.

PLC Systems, PLC Medical Systems, PLC and CO2 Heart Laser, RenalGuard and RenalGuard System are trademarks of PLC Systems Inc.