UNITED ~~STATES~~ ~~SECURITIES AND EXCHANGE COMMISSION~~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~~Pursuant to ofSection 13 ~~Report:~~or 15(d) ~~December 3,~~of ~~2008~~the Securities Exchange Act of 1934

~~ISONICS~~Date ~~CORPORATION~~of Report: March 9, 2009

~~(Name of small business issuer as specified in its charter)~~ISONICS CORPORATION

California		001-12531		77-0338561
State of Incorporation		Commission File Number		IRS Employer Identification No.

(Name of small business issuer as specified in its charter)

535 8th Avenue, 3rd Floor, New York, NY 10018-2491

California	001-12531	77-0338561
State of	Commission File	IRS Employer
Incorporation	Number	Identification No.

Address535 of principal8th executiveAvenue, offices3rd Floor, New York, NY 10018-2491

~~(212)~~Address ~~356-7400~~of principal executive offices

~~Telephone~~(212) ~~number, including~~356-7400

~~Area~~Telephone ~~code~~number, including

~~Not~~Area ~~applicable~~code

FormerNot name or former address if changed since last reportapplicable

CheckFormer thename appropriateor boxformer belowaddress if thechanged Form 8-Ksince filinglast is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:report

~~o Written~~Check ~~communications~~the ~~pursuant~~appropriate tobox ~~Rule~~below if the Form ~~425~~8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the ~~Securities~~following ~~Act~~provisions:

o ~~Soliciting~~ Written communications ~~material~~ pursuant to Rule ~~14a-12~~ 425 under the ~~Exchange~~Securities Act

o ~~Pre-commencement communications~~ Soliciting material pursuant to Rule ~~14d~~14a-~~2(b)~~ 12 under the Exchange Act

o Pre-commencement ~~communications~~ communications pursuant to Rule ~~13e~~14d-42(cb) under the Exchange Act

~~Item~~o Pre-commencement communications ~~3.02~~pursuant ~~Unregistered~~to ~~Sales~~Rule 13e-4(c) under ofthe ~~Equity~~Exchange ~~Securities~~Act

InItem ~~May, June and November 2006, and April 2007, Isonics Corporation (the “Company”) issued YA Global Investments, L~~2.P.04 ~~(“YA~~— ~~Global”),~~Triggering ~~formerly~~Events ~~known~~That asAccelerate ~~Cornell Capital~~or ~~Partners,~~Increase ~~LP,~~ a ~~total~~Direct ofFinancial ~~four~~Obligation ~~convertible~~or ~~debentures having~~ an ~~aggregate~~ ~~face~~Obligation ~~amount~~under ofan ~~$18,000,000. On June 13, 2008 the Company issued YA Global a non~~Off-~~convertible~~Balance ~~term~~Sheet note in the face amount of $1,175,000, and on the same date issued non-convertible notes to replace both the debenture originally issued in June 2006 and the debenture originally issued in November 2006Arrangement. Further, on November 3, 2008 the Company issued YA Global another non-convertible term note in the face amount of $375,000. Accordingly, only the debentures originally issued in May 2006 (the “May 2006 Debenture”) and April 2007 are still convertible into shares of our common stock.

OnAs ~~both~~more ~~November 14,~~fully ~~2008~~described ~~and~~in Item ~~December~~8.01 below on March 39, ~~2008~~ YA2009 ~~Global~~Isonics ~~converted~~Corporation (the “Company”) filed a ~~portion~~certification ofon Form 15 with the ~~May 2006~~Securities ~~Debenture~~and ~~into~~Exchange ~~shares~~Commission to ofimmediately suspend its reporting obligations under the 1934 Act. This may cause the Company’s common stock to cease ~~partially~~being ~~satisfy~~quoted on the ~~amount~~OTC ~~due~~Bulletin ~~under that debenture~~Board. On Under ~~those~~the ~~dates~~terms YAof ~~Global~~the ~~did~~debentures issued by the Company in May, June, ~~not~~and ~~convert~~November 2006 ~~any~~and ~~portion~~in April 2007 having a cumulative face amount of $18 million, the ~~other~~holder ~~debentures~~may declare an event of default if our common stock is not listed or ~~notes~~quoted ~~issued~~on tocertain YAnational ~~Global~~stock exchanges or the OTC Bulletin ~~into~~Board. Upon ~~shares~~the occurrence of ~~our~~an ~~common~~event of ~~stock~~default, and ~~therefore~~after ~~only~~expiration of any applicable cure period, the holder of the debentures may at its option declare the full amount ~~due~~owed under the ~~May 2006~~ ~~was~~debentures ~~reduced~~immediately due and payable. The ~~following~~current ~~sets~~outstanding ~~forth~~ balance of the ~~information~~debentures ~~required~~including byaccrued interest ~~Item~~is ~~701~~in excess of ~~Regulation~~$22 ~~S-K~~million. Although inthe ~~connection~~creditor ~~with~~has orally approved the ~~issuances:~~filing of the Form 15, the Company has not received any specific waiver of the terms of the debentures prohibiting such act.

1Item 8. On01 ~~November 14,~~Other ~~2008 YA Global converted $1,100 of face amount of the May 2006 Debenture into 1,250,000 shares of Company common stock~~Events.

(On March 9, 2009, the Company filed a) certification on Form 15 with the Securities and Exchange Commission. The ~~transaction~~effect ~~was~~of filing the Form 15 is to ~~completed~~immediately ~~effective~~suspend asthe Company’s reporting obligations under the Securities Exchange Act of ~~November~~1934. As a result, the Company does not expect to be filing its quarterly report for the quarter ended January 1431, ~~2008~~2009, its annual report on Form 10-K for the fiscal year ending April 30, 2009 or subsequent reports. Inasmuch as maintaining 1934 Act reporting obligations is a condition for continued quotation on the OTC Bulletin Board, the OTC Bulletin Board may stop quoting the Company’s common stock. However, we anticipate that our common stock will be eligible for quotation on the pink sheets.

~~(b) There was no placement agent or underwriter for the transaction.~~SIGNATURES

~~(c) The~~Pursuant ~~shares~~to ~~were~~the ~~not~~requirements of the ~~issued~~Securities inExchange ~~consideration~~Act ~~for~~of ~~cash~~1934, ~~however~~ the ~~amount~~registrant ~~due~~caused ~~under~~this ~~the~~report ~~May 2006~~to be signed ~~Debenture~~on ~~was~~its ~~reduced~~behalf by $1the undersigned,~~100~~ thereunto duly authorized, on the 9th day of March 2009.

~~(d) We~~Isonics ~~relied~~Corporation onBy: ~~the exemptions~~/s/ ~~from~~Chris ~~registration~~Toffales ~~provided~~Chris ~~by Sections 4(2) and 4(6) under the Securities Act of 1933 for this transaction. We did not engage in any public advertising or general solicitation in connection with this transaction~~Toffales, ~~and~~ weChief ~~provided~~Executive YA Global with disclosure of all aspects of our business, including our reports filed with the Securities and Exchange Commission, our press releases, and other financial, business, and corporate information. We believe that YA Global obtained all information regarding the Company it requested, received answers to all questions it (and its advisors) posed, and otherwise understood the risks of accepting our securities for investment purposes. Further, based on representations previously made to us, we believe that YA Global is an accredited investor.Officer

~~(e) The common stock issued in this transaction is not convertible or exchangeable.~~2

2. On December 3, 2008 YA Global converted $1,300 of face amount of the May 2006 Debenture into 1,354,167 shares of Company common stock.

(a) The transaction was completed effective as of December 3, 2008.

(b) There was no placement agent or underwriter for the transaction.

(c) The shares were not issued in consideration for cash, however the amount due under the May 2006 Debenture was reduced by $1,300.

(d) We relied on the exemptions from registration provided by Sections 4(2) and 4(6) under the Securities Act of 1933 for this transaction. We did not engage in any public advertising or general solicitation in connection with this transaction, and we provided YA Global with disclosure of all aspects of our business, including our reports filed with the Securities and Exchange Commission, our press releases, and other financial, business, and corporate information. We believe that YA Global obtained all information regarding the Company it requested, received answers to all questions it (and its advisors) posed, and otherwise understood the risks of accepting our securities for investment purposes. Further, based on representations previously made to us, we believe that YA Global is an accredited investor.

(e) The common stock issued in this transaction is not convertible or exchangeable.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on the 9th day of December 2008.

Isonics Corporation By: /s/ Chris Toffales Chris Toffales Chief Executive Officer

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