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):  October 29, 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):

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

On October 29, 2008, PLC Systems Inc. (the “Company”) received a notice from NYSE Alternext US LLC (“NYSE Alternext”), which was formerly known as the American Stock Exchange LLC (“AMEX”), indicating that NYSE Alternext intends to delist the Company’s common stock.

As previously reported, on September 17, 2008, the Company received a notice from AMEX stating that the Company was 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 had until October 17, 2008 to submit a plan to bring the Company back into compliance with the continued listing standards by March 17, 2010.  The Company did not submit such a plan of compliance.

If the Company does not appeal NYSE Alternext’s determination to delist the Company’s common stock by November 5, 2008, then NYSE Alternext’s determination will become final and the Company’s common stock will be delisted from NYSE Alternext.  The Company does not expect to file such an appeal.

A copy of the press release announcing the notification from NYSE Alternext 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 Company on November 4, 2008

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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: November 4, 2008	By:	/s/ James G. Thomasch
			James G. Thomasch, Senior Vice President, Finance and Administration and Chief Financial Officer

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EXHIBIT INDEX

Exhibit No.	Description
99.1	Press release issued by the Registrant on November 4, 2008

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EX-99.1

Exhibit 99.1

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

PLC SYSTEMS’ COMMON STOCK TO BE DELISTED FROM NYSE ALTERNEXT AND TRADE ON THE OTCBB

FRANKLIN, Mass., November 4, 2008 — PLC Systems Inc. (AMEX: PLC) today announced that on October 29, 2008 it received a letter from NYSE Alternext US LLC, formerly known as the American Stock Exchange, indicating that NYSE Alternext will delist PLC’s common stock if the Company does not submit an appeal by November 5, 2008.  The Company does not expect to file such an appeal.

PLC expects its common stock to begin to trade on the OTC Bulletin Board shortly after being delisted from NYSE Alternext. PLC will make a public announcement about the stock symbol it will be assigned on the OTCBB as soon as it is determined.

As previously announced, PLC 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.

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.

This press release contains “forward-looking” statements. For this purpose, any statements contained in this press release that relate to prospective events or developments are deemed to be forward-looking statements. Words such as “believes,” “anticipates,” “plans,” “expects,” “will” and similar expressions are intended to identify forward-looking statements. While we may elect to update forward-looking statements in the future, we specifically disclaim any obligation to do so, and you should not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release. Actual results could differ materially from those indicated by such forward-looking statements as a result of a variety of important factors, including that a trading market may not develop for our common stock on the OTCBB and additional risk factors described in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2008, and our other SEC reports.

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