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 11, 2006

Patient Safety Technologies, Inc.
(Exact name of registrant as specified in its charter)

Delaware    333-124594    13-3419202 
(State or Other Jurisdiction    (Commission File    (I.R.S. Employer 
of Incorporation)    Number)    Identification Number) 

1800 Century Park East, Ste. 200, Los Angeles, CA 90067
(Address of principal executive offices) (zip code)

(310) 895-7750
(Registrant's telephone number, including area code)

Copies to:
Marc J. Ross, Esq.
Sichenzia Ross Friedman Ference LLP
1065 Avenue of the Americas
New York, New York 10018
Phone: (212) 930-9700
Fax: (212) 930-9725

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 December 6, 2006, a hearing was conducted before the Listing Qualifications Panel of the American Stock Exchange (“Amex”) Committee on Securities concerning prior notices sent to the registrant that Amex would delist the registrant’s stock.

          On December 11, 2006, the registrant received a letter from Amex announcing that the Panel unanimously agreed that Amex should not move to delist the registrant’s common stock before January 31, 2007, pending the successful completion by the registrant of certain actions.

           A copy of the press release announcing Amex’s intent to not delist the registrant’s stock is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

  (d) Exhibits   
 
  Exhibit   
  Number 
Description 
  99.1  Press Release issued by Patient Safety Technologies, Inc. on December 15, 2006 (filed herewith) 

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SIGNATURES

          Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

    Patient Safety Technologies, Inc. 
 
 
Dated:  December 15, 2006    By:    /s/ Lynne Silverstein          
    Name:    Lynne Silverstein 
    Title:      President 

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