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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>WASHINGTON, DC 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section&nbsp;13 or 15(d) of the
Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report (Date of earliest event reported):
<B>January 18, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>POWER EFFICIENCY CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified in its
charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR>
    <TD STYLE="width: 40%; vertical-align: top; font-weight: bold; text-align: center">Delaware</TD>
    <TD STYLE="width: 1%; vertical-align: bottom; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 29%; vertical-align: top; font-weight: bold; text-align: center">0-31805</TD>
    <TD STYLE="width: 1%; vertical-align: bottom; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 29%; vertical-align: top; font-weight: bold; text-align: center">22-3337365</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">(State or other jurisdiction of incorporation)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">Commission File Number</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">(IRS Employer Identification No.)</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="3" STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>5744 Pacific Center Blvd., Suite 311</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>San Diego, California</B></P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center">92121</TD></TR>
<TR>
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center">(Address of principal executive offices)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">(Zip Code)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Registrant&rsquo;s telephone number, including
area code: <B>(845) 750-3875</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>N/A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Former name or former address, if changed since
last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT> Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT>
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT>
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT>
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17CFR 240.13e-4(c))</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>Item 5.03 Amendments to Articles of Incorporation or Bylaws</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On January 18, 2012, the Company amended its Amended and Restated
Certificate of Incorporation (&ldquo;Certificate of Incorporation&rdquo;) when it adopted the Certificate of Designation of Rights,
Preferences and Limitations of Series E Convertible Preferred Stock (the &ldquo;Certificate of Designation&rdquo;). The amendment
to the Certificate of Incorporation authorized the issuance of 1,000 shares of Series E Convertible Preferred Stock (the &ldquo;Series
E Preferred Stock&rdquo;) valued at $10,000 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Series E Preferred Stock is convertible into an aggregate of
up to 1,000,000,000 shares of the Company&rsquo;s common stock (the &ldquo;Common Stock&rdquo;), such that each one share of Series
E Preferred Stock is initially convertible into 1,000,000 shares of the Common Stock. The Series E Preferred Stock is subject to
mandatory conversion at such time as the Company has a sufficient number of authorized shares of Common Stock to fully convert
all of the outstanding Series E Preferred Stock. The Series E Preferred Stock will be converted automatically, without further
action by the holders, at such time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Series E Preferred Stockholders can vote with the shares of Common
Stock on an as converted basis and have liquidation rights that are <I>pari passu</I> with all of the Company&rsquo;s other preferred
stock. The Series E Preferred Stock has no preemptive rights and cannot be amended without 75% of the Series E Preferred Stockholders
approval.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>Item 9.01. Exhibits</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 48px; font-family: Times New Roman, Times, Serif">3.1&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">Certificate of Designation of the Company&rsquo;s Series E Preferred Stock</TD></TR>
</TABLE>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font-weight: bold">POWER EFFICIENCY CORPORATION</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">By:</TD>
    <TD STYLE="width: 25%; border-bottom: windowtext 1pt solid">/s/&nbsp;Brian Chan</TD>
    <TD STYLE="width: 68%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Brian Chan, Secretary</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">Date: January 24, 2012</TD></TR>
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[{"type": "8-K", "sequence": "1", "filename": "v300267_8k.htm", "secsgml_size_bytes": 12193}]
{"company-data": {"conformed-name": "POWER EFFICIENCY CORP", "cik": "0001024075", "assigned-sic": "3620", "irs-number": "223337365", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-31805", "film-number": "12542454"}, "business-address": {"street1": "3960 HOWARD HUGHES PARKWAY", "street2": "SUITE 460", "city": "LAS VEGAS", "state": "NV", "zip": "89169", "phone": "7026970377"}, "mail-address": {"street1": "3960 HOWARD HUGHES PARKWAY", "street2": "SUITE 460", "city": "LAS VEGAS", "state": "NV", "zip": "89169"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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):
January 18, 2012
POWER EFFICIENCY CORPORATION
(Exact name of registrant as specified in its
charter)
Delaware
0-31805
22-3337365
(State or other jurisdiction of incorporation)
Commission File Number
(IRS Employer Identification No.)
5744 Pacific Center Blvd., Suite 311
San Diego, California
92121
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including
area code:
(845) 750-3875
N/A
(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 (17CFR 240.13e-4(c))
Item 5.03 Amendments to Articles of Incorporation or Bylaws
On January 18, 2012, the Company amended its Amended and Restated
Certificate of Incorporation ("Certificate of Incorporation") when it adopted the Certificate of Designation of Rights,
Preferences and Limitations of Series E Convertible Preferred Stock (the "Certificate of Designation"). The amendment
to the Certificate of Incorporation authorized the issuance of 1,000 shares of Series E Convertible Preferred Stock (the "Series
E Preferred Stock") valued at $10,000 per share.
The Series E Preferred Stock is convertible into an aggregate of
up to 1,000,000,000 shares of the Company's common stock (the "Common Stock"), such that each one share of Series
E Preferred Stock is initially convertible into 1,000,000 shares of the Common Stock. The Series E Preferred Stock is subject to
mandatory conversion at such time as the Company has a sufficient number of authorized shares of Common Stock to fully convert
all of the outstanding Series E Preferred Stock. The Series E Preferred Stock will be converted automatically, without further
action by the holders, at such time.
Series E Preferred Stockholders can vote with the shares of Common
Stock on an as converted basis and have liquidation rights that are
pari passu
with all of the Company's other preferred
stock. The Series E Preferred Stock has no preemptive rights and cannot be amended without 75% of the Series E Preferred Stockholders
approval.
Item 9.01. Exhibits
3.1
Certificate of Designation of the Company's Series E Preferred Stock
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.
POWER EFFICIENCY CORPORATION
By:
/s/ Brian Chan
Brian Chan, Secretary
Date: January 24, 2012
3