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): May 20, 2008
LASERSIGHT
INCORPORATED
(Exact
name of registrant as specified in its charter)
Commission
File Number: 0-19671
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DE
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65-0273162
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(State
or other jurisdiction of
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(IRS
Employer
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incorporation)
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Identification
No.)
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6848
Stapoint Court, Winter Park, FL 32792
(Address
of principal executive offices, including zip code)
407-678-9900
(Registrant’s
telephone number, including area code)
(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:
[ ]
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))
LASERSIGHT
INCORPORATED
| Item
2.04 |
Triggering
Events that Accelerate or Increase a Direct Financial Obligation
or an
Obligation
Under an Off-Balance Sheet
Arrangement.
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On
May
20, 2008, the Company received a letter from counsel to New Industries
Investment Consultants (Hong Kong) Limited (“NIIC”) dated May 19, 2008 (the
“Letter”). The Letter notified the Company that NIIC was exercising its rights
under the Restated Promissory Note dated August 31, 2004, from the Company
to
NIIC, the Loan Agreement dated July 26, 2006, between the Company and NIIC,
and
related documents, to accelerate the obligations of the Company to NIIC under
such financing documents. These financing arrangements and documents have been
previously reported by the Company.
In
the
Letter NIIC demanded for payment in full of all of the Company’s obligations to
NIIC due to the Company’s defaults in failing to make timely payments of amounts
due to NIIC under such financing documents. NIIC requires payment of
$4,383,082.00 within 14 days or such other time as may be agreed by NIIC, which
amount comprised all principal and interest due to NIIC as of May 19,
2008.
The
Company intends to attempt to negotiate with NIIC for a forbearance of the
acceleration of its obligations to NIIC, as the Company is unable to pay such
obligations. The Company’s default and the acceleration of its obligations to
NIIC may also trigger defaults under other financing arrangements of the
Company.
The
Company has been operating with losses for the past several years, with severe
financial difficulties. If the Company is unable to negotiate a forbearance
and/or unable to secure additional financing to sustain the Company, it may
be
unable to continue as a going concern.
LASERSIGHT
INCORPORATED
SIGNATURES
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.
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LASERSIGHT
INCORPORATED |
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| Date: May
22,
2008 |
By: |
/s/ Danghui
(“David”) Liu |
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Danghui
(“David”) Liu |
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Chief
Executive Officer |