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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>UNITED
      STATES</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>SECURITIES
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>WASHINGTON,
      D.C. 20549</strong></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>___________________________</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>FORM
      8-K</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>CURRENT
      REPORT</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>PURSUANT
      TO SECTION 13 OR 15(d) OF THE</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>SECURITIES
      EXCHANGE ACT OF 1934</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Date
      of Report (Date of earliest event reported):</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>August
      8, 2007</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>EMERGING
      VISION, INC.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>(Exact
      name of registrant as specified in its charter)</strong></font></div>
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                York</strong></font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>No.001-14128</strong></font></div>
            </td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>No.11-3096941</strong></font></div>
            </td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">(State
                or other jurisdiction of incorporation)</font></div>
            </td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">(Commission
                File Number)</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">(IRS
                Employer Identification No.)</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>100
      Quentin Roosevelt Boulevard</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Garden
      City, New York 11530</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(Address
      of principal executive offices) (Zip Code)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Registrant&#8217;s
      telephone number, including area code:<strong> (516)
      390-2100</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Former
      name or former address, if changed since last report:
<strong>N/A</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">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 Instructions A.2.):</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#144;
Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#144;
      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#144;
      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
      Act
      (17 CFR 240.14d-2(b))</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#144;
      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
      Act
      (17 CFR 240.13e-4(c))</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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    </div><br>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Item
      1.01 Entry into a Material Definitive Agreement</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Item
      2.03 Creation of a Direct Financial Obligation or an Obligation under an
      Off-Balance Sheet Arrangement of a Registrant</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">On
      August
      8, 2007, Emerging Vision, Inc. (the &#8220;Company&#8221;) entered into a Revolving Line of
      Credit Note and Credit Agreement (the &#8220;Credit Agreement&#8221;) with Manufacturers and
      Traders Trust Corporation (&#8220;M&amp;T&#8221;), establishing a revolving credit facility
      (the &#8220;Credit Facility&#8221;), for aggregate borrowings of up to $6.0 million, to be
      used for general working capital needs and certain permitted
      acquisitions.&#160;&#160;This Credit Facility replaces the Company&#8217;s previous
      revolving line of credit facility with M&amp;T, established in August,
      2005.&#160;&#160;The initial term of the Credit Facility expires in August
      2009.&#160;&#160;All sums drawn by the Company under the Credit Facility are
      repayable interest only on a monthly basis, commencing on the first day of
      each
      month during the term of the Credit Facility, calculated at the variable rate
      of
      two hundred seventy five basis points in excess of LIBOR, and all principal
      actually drawn by the Company payable on August 1, 2009.&#160;&#160;The total
      outstanding borrowings under the Credit Facility may be accelerated by M&amp;T
      upon the occurrence of one or more events, including, without limitation, the
      Company&#8217;s failure to satisfy certain financial covenants (set forth in the
      Credit Agreement).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">In
      order
      to secure repayment of the aggregate borrowings made under the Credit Facility,
      the Company entered into Security Agreements with M&amp;T, pursuant to which (i)
      the Company and certain of its wholly-owned subsidiaries granted M&amp;T a
      security interest in substantially all of its respective tangible and intangible
      assets, and (ii) certain of the Company&#8217;s wholly-owned subsidiaries executed a
      Guaranty, pursuant to which such subsidiaries guaranteed the performance of
      the
      Company&#8217;s obligations to M&amp;T in respect of the Credit Facility.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">As
      of
      August 13, 2007, there was outstanding under the Credit Facility $4,359,423,
      of
      which $750,000 was drawn for general working capital requirements, and the
      remaining $3,609,423 of which was drawn to fund the purchase price (the
      "Purchase Price")&#160;payable in connection with the acquisition, by OG
      Acquisition, Inc. (&#8220;Purchaser&#8221;), the Company&#8217;s wholly-owned subsidiary, of (i)
      all of the equity ownership interests in , 1725758 Ontario Inc., d/b/a The
      Optical Group (&#8220;OG&#8221;), and (ii) substantially all of the tangible and intangible
      assets of&#160;&#160;Corowl Optical Credit Services, Inc. (&#8220;COC&#8221;).</font></div>
    <div><br></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
      descriptions of the Credit Facility and the related transactions are qualified
      in their entirety by reference to the Credit Agreement, Security Agreements
      and
      Guarantees filed as Exhibits 10.1 through 10.11 hereto, and which are
      incorporated herein by this reference.</font></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Item
      2.01 Completion of Acquisition or Disposition of
      Assets</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Pursuant
      to a Business Purchase Agreement (the &#8220;Purchase Agreement&#8221;), dated June 29,
      2007, among the Company&#8217;s wholly-owned subsidiary, Purchaser, OG, COC and Grant
      Osborne, on August 10, 2007, in consideration of the payment of the Purchase
      Price, and the assumption of certain accounts payable of OG and COC, (i)
      Purchaser acquired all of the equity ownership interests in OG, and (ii)
      Purchaser acquired substantially all of the tangible and intangible assets
      of
      COC.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
      descriptions of the Purchase Agreement and the related agreements and
      transactions are qualified in their entirety by reference to the Purchase
      Agreement, which is incorporated herein by reference to the Company&#8217;s Form 8-K
      filed on&#160;July 5, 2007,&#160;to which the Purchase Agreement is attached as
      Exhibit 10.1 thereto.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 72pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Item
                9.01</u></strong></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Financial
                Statements and
                Exhibits.</u></strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
      financial information required by this item is not included in this initial
      report on Form 8-K but will be filed by amendment not later than 71 days after
      the date that this initial report on Form 8-K is required to be
      filed.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
      pro forma financial information required by this item is not included in this
      initial report on Form 8-K but will be filed by amendment not later than 71
      days
      after the date that this initial report on Form 8-K is required to be
      filed.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exhibits.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font size="2">Exhibit
      10.1<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;Revolving Line of
      Credit Note and Credit Agreement</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font size="2">Exhibit
      10.2<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;Absolute Assignment
      of Franchise Notes and Proceeds Due</font></div>
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      on following page]</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Pursuant
      to the requirements of the Securities Exchange Act of 1934, as amended, the
      Registrant has duly caused this Report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font></div>
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      VISION, INC.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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                Christopher G. Payan</font></div>
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                13, 2007</font></div>
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form8-k.htm
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):
August
      8, 2007
EMERGING
      VISION, INC.
(Exact
      name of registrant as specified in its charter)
New
                York
No.001-14128
No.11-3096941
(State
                or other jurisdiction of incorporation)
(Commission
                File Number)
(IRS
                Employer Identification No.)
100
      Quentin Roosevelt Boulevard
Garden
      City, New York 11530
(Address
      of principal executive offices) (Zip Code)
Registrant's
      telephone number, including area code:
(516)
      390-2100
Former
      name or former address, if changed since last report:
N/A
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 Instructions A.2.):

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
      1.01 Entry into a Material Definitive Agreement
Item
      2.03 Creation of a Direct Financial Obligation or an Obligation under an
      Off-Balance Sheet Arrangement of a Registrant
On
      August
      8, 2007, Emerging Vision, Inc. (the "Company") entered into a Revolving Line of
      Credit Note and Credit Agreement (the "Credit Agreement") with Manufacturers and
      Traders Trust Corporation ("M&T"), establishing a revolving credit facility
      (the "Credit Facility"), for aggregate borrowings of up to $6.0 million, to be
      used for general working capital needs and certain permitted
      acquisitions.  This Credit Facility replaces the Company's previous
      revolving line of credit facility with M&T, established in August,
      2005.  The initial term of the Credit Facility expires in August
      2009.  All sums drawn by the Company under the Credit Facility are
      repayable interest only on a monthly basis, commencing on the first day of
      each
      month during the term of the Credit Facility, calculated at the variable rate
      of
      two hundred seventy five basis points in excess of LIBOR, and all principal
      actually drawn by the Company payable on August 1, 2009.  The total
      outstanding borrowings under the Credit Facility may be accelerated by M&T
      upon the occurrence of one or more events, including, without limitation, the
      Company's failure to satisfy certain financial covenants (set forth in the
      Credit Agreement).
In
      order
      to secure repayment of the aggregate borrowings made under the Credit Facility,
      the Company entered into Security Agreements with M&T, pursuant to which (i)
      the Company and certain of its wholly-owned subsidiaries granted M&T a
      security interest in substantially all of its respective tangible and intangible
      assets, and (ii) certain of the Company's wholly-owned subsidiaries executed a
      Guaranty, pursuant to which such subsidiaries guaranteed the performance of
      the
      Company's obligations to M&T in respect of the Credit Facility.
As
      of
      August 13, 2007, there was outstanding under the Credit Facility $4,359,423,
      of
      which $750,000 was drawn for general working capital requirements, and the
      remaining $3,609,423 of which was drawn to fund the purchase price (the
      "Purchase Price") payable in connection with the acquisition, by OG
      Acquisition, Inc. ("Purchaser"), the Company's wholly-owned subsidiary, of (i)
      all of the equity ownership interests in , 1725758 Ontario Inc., d/b/a The
      Optical Group ("OG"), and (ii) substantially all of the tangible and intangible
      assets of  Corowl Optical Credit Services, Inc. ("COC").
The
      descriptions of the Credit Facility and the related transactions are qualified
      in their entirety by reference to the Credit Agreement, Security Agreements
      and
      Guarantees filed as Exhibits 10.1 through 10.11 hereto, and which are
      incorporated herein by this reference.
Item
      2.01 Completion of Acquisition or Disposition of
      Assets
Pursuant
      to a Business Purchase Agreement (the "Purchase Agreement"), dated June 29,
      2007, among the Company's wholly-owned subsidiary, Purchaser, OG, COC and Grant
      Osborne, on August 10, 2007, in consideration of the payment of the Purchase
      Price, and the assumption of certain accounts payable of OG and COC, (i)
      Purchaser acquired all of the equity ownership interests in OG, and (ii)
      Purchaser acquired substantially all of the tangible and intangible assets
      of
      COC.
The
      descriptions of the Purchase Agreement and the related agreements and
      transactions are qualified in their entirety by reference to the Purchase
      Agreement, which is incorporated herein by reference to the Company's Form 8-K
      filed on July 5, 2007, to which the Purchase Agreement is attached as
      Exhibit 10.1 thereto.
Item
                9.01
Financial
                Statements and
                Exhibits.
(a)           The
      financial information required by this item is not included in this initial
      report on Form 8-K but will be filed by amendment not later than 71 days after
      the date that this initial report on Form 8-K is required to be
      filed.
(b)           The
      pro forma financial information required by this item is not included in this
      initial report on Form 8-K but will be filed by amendment not later than 71
      days
      after the date that this initial report on Form 8-K is required to be
      filed.
(d)           Exhibits.
Exhibit
      10.1
Revolving Line of
      Credit Note and Credit Agreement
Exhibit
      10.2
Absolute Assignment
      of Franchise Notes and Proceeds Due
Exhibit
      10.3
General Security
      Agreement - Emerging Vision, Inc.
Exhibit
      10.4
General Security
      Agreement - Combine Buying Group, Inc.
Exhibit
      10.5
General Security
      Agreement - OG Acquisition, Inc.
Exhibit
      10.6
General Security
      Agreement - 1725758 Ontario Inc. d/b/a The Optical Group
Exhibit
      10.7
Continuing Guaranty -
      Combine Buying Group, Inc.
Exhibit
      10.8
Continuing Guaranty
      - OG Acquisition, Inc.
Exhibit
      10.9
Continuing Guaranty -
      1725758 Ontario Inc. d/b/a The Optical Group
Exhibit
      10.10
Pledge Agreement and
      Assignment
Exhibit
      10.11
United States
      Trademark Collateral Assignment and Security Agreement by Emerging Vision,
      Inc.
[Signature
      on following page]
SIGNATURE
Pursuant
      to the requirements of the Securities Exchange Act of 1934, as amended, the
      Registrant has duly caused this Report to be signed on its behalf by the
      undersigned hereunto duly authorized.
EMERGING
      VISION, INC.
By:
/s/
                Christopher G. Payan
Name:
      Christopher G. Payan
Title:
Chief
                Executive Officer
Date:
August
                13, 2007