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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):
December 23, 2005 (December 20, 2005)
LASERSIGHT INCORPORATED
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Exact name of registrant as specified in its charter
Delaware
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State or other jurisdiction of incorporation
0-19671 65-0273162
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Commission File Number I.R.S. Employer
Identification No.
6848 Stapoint Court, Winter Park, Florida 32792
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Address of Principal Executive offices
Registrant's telephone number, including area code: (407) 678-9900
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 13-e-4(c) under the
Exchange Act (17 CFR 240.13a-4(c))
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SECTION 8 - OTHER EVENTS
ITEM 8.01 OTHER EVENTS.
LaserSight Incorporated laid off approximately 20% of its workforce on December
20, 2005 in an effort to reduce costs and improve its operating efficiency. In
addition, the Company is rebalancing and adjusting its resources to optimize its
operating efficiency.
As disclosed previously, the Company has focused its business in China since
emerging from Chapter 11 reorganization in June 2004. In 2005, the Company's
exclusive distributor in China has been the Company's primary customer. The
Company is currently selling its products to China on a month-by-month basis,
and actual sales have not kept up with the Company's sales targets and
production schedule. Furthermore, product manufacturing has been negatively
impacted by the lack of adequate working capital caused by the reduced sales
volume and delays in payment from the Company's Chinese distributor. The Company
is working with its Chinese distributor and other distributors to secure
increased sales. In 2006, the Company will have a reduced sales projection, thus
a reduced manufacturing schedule.
SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial statements of businesses acquired.
Not applicable.
(b) Pro forma financial information.
Not applicable.
(c) Shell company transactions.
Not applicable.
(d) Exhibits.
Not applicable.
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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.
LaserSight Incorporated
Date: December 23, 2005 By: /s/ Danghui ("David") Liu
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Danghui ("David") Liu
Chief Executive Officer
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