content: <html>
  
  <head>
  
  
  
  
  
  </head>
  
  <body lang="EN-US" style="text-justify-trim:punctuation">
  
  <div style="font-family:Times New Roman;">
  
  <div style="border:none;border-top:double windowtext 6.0pt;padding:0in 0in 0in 0in;">
  
  <p align="center" style="border:none;margin:0in 0in .0001pt;padding:0in;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  
  </div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">UNITED
  STATES</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">SECURITIES
  AND EXCHANGE COMMISSION</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WASHINGTON,
  D.C. 20549</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><hr size="1" width="25%" noshade color="black" align="center"></div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM&nbsp;8-K</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <h3 style="font-weight:normal;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">CURRENT
  REPORT</font></b></h3>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Pursuant to Section&nbsp;13 or 15(d)&nbsp;of the
  Securities Exchange Act of 1934</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Date of Report:&#160;
  May&nbsp;21, 2008</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">ISONICS
  CORPORATION</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Name of small business issuer as specified in its charter)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div align="center">
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">California</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">001-12531</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">77-0338561</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">State of</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Commission File</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IRS Employer</font></p>
    </td>
   </tr>
   <tr>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Incorporation</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Number</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Identification No.</font></p>
    </td>
   </tr>
  </table>
  
  </div>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <h4 style="font-weight:normal;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">5906 McIntyre Street, Golden, Colorado 80403</font></b></h4>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Address of
  principal executive offices</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">303-279-7900</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Telephone number,
  including</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Area code</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <h5 align="center" style="font-weight:normal;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Not applicable</font></b></h5>
  
  <h5 align="center" style="font-weight:normal;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Former name or
  former address if changed since last report</font></h5>
  
  <h5 align="center" style="font-weight:normal;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h5>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check the appropriate box below if the Form&nbsp;8-K filing is intended
  to simultaneously satisfy the filing obligation of the registrant under any of
  the following provisions:</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="2" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Written communications pursuant to Rule&nbsp;425
  under the Securities Act</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="2" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Soliciting material pursuant to Rule&nbsp;14a-12
  under the Exchange Act</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="2" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Pre-commencement communications
  pursuant to Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="2" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Pre-commencement communications
  pursuant to Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act</font></p>
  
  <div style="border:none;border-bottom:double windowtext 6.0pt;padding:0in 0in 0in 0in;">
  
  <p style="border:none;margin:0in 0in .0001pt;padding:0in;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  </div>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105480\08-15374-1\task2961934\15374-1-ba.htm',USER='105480',CD='May 28 09:32 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div style="font-family:Times New Roman;">
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;</font><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Item 3.02 -
  Unregistered Sale of Equity Securities</font></b></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In May, June&nbsp;and November&nbsp;2006
  and April&nbsp;2007 Isonics Corporation (&#147;Isonics&#148;) issued <font style="letter-spacing:-.15pt;">YA Global Investments, L.P. (&#147;YA Global&#148;),
  formerly known as Cornell Capital Partners, LP,</font> a total of four
  convertible debentures having an aggregate face amount of $18,000,000.&#160;&#160; </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">On both May&nbsp;9, 2008 and May&nbsp;21, 2008,
  YA Global converted a portion of the debenture originally issued in May&nbsp;2006
  (the &#147;May&nbsp;2006 Debenture&#148;) into shares of Isonics common stock to
  partially satisfy the amount due under that debenture.&#160; On those dates YA Global did not convert any
  portion of the debentures originally issued in June&nbsp;and November&nbsp;2006
  or April&nbsp;2007 into shares of our common stock, and therefore the amounts
  due under those debentures were not reduced.&#160;&#160;&#160;
  The following sets forth the information required by Item 701 of
  Regulation S-K in connection with the issuances:</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; On May&nbsp;9, 2008 YA Global converted $18,200 of face
  amount of the May&nbsp;2006 Debenture into 777,778 shares of Isonics common
  stock.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt 1.0in;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
  transaction was completed effective as of the date stated above.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt 1.0in;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; There
  was no placement agent or underwriter for the transaction.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
  shares were not issued in consideration for cash, however the amount due under
  the May&nbsp;2006 Debenture was reduced by $18,200.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt .5in;text-autospace:ideograph-numeric ideograph-other;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; We
  relied on the exemption from registration provided by Sections 4(2)&nbsp;and 4(6)&nbsp;under
  the Securities Act of 1933 for this transaction.&nbsp; </font><font size="2" style="font-size:10.0pt;">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
  Isonics it requested, received answers to all questions it (and its advisors)
  posed, and otherwise understood the risks of accepting our securities for
  investment purposes.&#160; Further, based on
  representations previously made to us, we believe that YA Global is an
  accredited investor.</font></p>
  
  <p style="margin:0in 0in .0001pt .5in;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt .5in;text-autospace:ideograph-numeric ideograph-other;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
  common stock issued in this transaction is not convertible or exchangeable.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; On May&nbsp;21, 2008 YA Global
  converted $16,000 of face amount of the May&nbsp;2006 Debenture into </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">812,183</font><font size="2" face="Times New Roman" style="font-size:10.0pt;"> shares of Isonics common stock.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt .5in;text-autospace:ideograph-numeric ideograph-other;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
  transaction was completed effective as stated above.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt .5in;text-autospace:ideograph-numeric ideograph-other;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; There
  was no placement agent or underwriter for this transaction.</font></p>
  
  <p style="margin:0in 0in .0001pt .5in;text-autospace:ideograph-numeric ideograph-other;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt .5in;text-autospace:ideograph-numeric ideograph-other;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
  shares were not sold for cash, however the amount due under the May 2006
  Debenture was reduced by $16,000.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt .5in;text-autospace:ideograph-numeric ideograph-other;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; We
  relied on the exemption from registration provided by Sections 4(2)&nbsp;and 4(6)&nbsp;under
  the Securities Act of 1933 for this transaction.&nbsp; </font><font size="2" style="font-size:10.0pt;">We did not
  engage in </font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>
  
  <div style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\105480\08-15374-1\task2961934\15374-1-ba.htm',USER='105480',CD='May 28 09:32 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt .5in;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">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
  Isonics it requested, received answers to all questions it (and its advisors)
  posed, and otherwise understood the risks of accepting our securities for
  investment purposes.&#160; Further, based on
  representations previously made to us, we believe that YA Global is an
  accredited investor.</font></p>
  
  <p style="margin:0in 0in .0001pt .5in;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
  common stock issued in this transaction is not convertible or exchangeable.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURES</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">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 28th day of May&nbsp;2008.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="48%" valign="top" style="padding:0in 0in 0in 0in;width:48.58%;">
    <p align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
    </td>
    <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.08%;">
    <p align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
    </td>
    <td width="48%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:48.34%;">
    <p align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Isonics Corporation</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="48%" valign="top" style="padding:0in 0in 0in 0in;width:48.58%;">
    <p align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
    </td>
    <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.08%;">
    <p align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
    </td>
    <td width="48%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:48.34%;">
    <p align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="48%" valign="top" style="padding:0in 0in 0in 0in;width:48.58%;">
    <p align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
    </td>
    <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.08%;">
    <p align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
    </td>
    <td width="48%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:48.34%;">
    <p align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="48%" valign="top" style="padding:0in 0in 0in 0in;width:48.58%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.08%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.1%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By: </font></p>
    </td>
    <td width="45%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:45.26%;">
    <p style="margin:0in 0in .0001pt .35in;text-autospace:none;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ John Sakys</font></p>
    </td>
   </tr>
   <tr>
    <td width="48%" valign="top" style="padding:0in 0in 0in 0in;width:48.58%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.08%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.1%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="45%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:45.26%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">John Sakys</font></p>
    </td>
   </tr>
   <tr>
    <td width="48%" valign="top" style="padding:0in 0in 0in 0in;width:48.58%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.08%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.1%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.26%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">President and Chief Operating Officer</font></p>
    </td>
   </tr>
  </table>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>
  
  <div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\105480\08-15374-1\task2961934\15374-1-ba.htm',USER='105480',CD='May 28 09:32 2008' -->
  
  
  </body>
  
  </html>
metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "a08-15374_18k.htm", "description": "8-K", "secsgml_size_bytes": 30479}]
metadata_filer: {"company-data": {"conformed-name": "ISONICS CORP", "cik": "0001023966", "assigned-sic": "2800", "irs-number": "770338561", "state-of-incorporation": "CA", "fiscal-year-end": "0430"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-21607", "film-number": "08864216"}, "business-address": {"street1": "5906 MCINTYRE STREET", "city": "GOLDEN", "state": "CO", "zip": "80403", "phone": "3032797900"}, "mail-address": {"street1": "5906 MCINTYRE STREET", "city": "GOLDEN", "state": "CO", "zip": "80403"}}
text: 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: 
  May 21, 2008
  ISONICS
  CORPORATION
  (Name of small business issuer as specified in its charter)
  California
  001-12531
  77-0338561
  State of
  Commission File
  IRS Employer
  Incorporation
  Number
  Identification No.
  5906 McIntyre Street, Golden, Colorado 80403
  Address of
  principal executive offices
  303-279-7900
  Telephone number,
  including
  Area code
  Not applicable
  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:
  o
  Written communications pursuant to Rule 425
  under the Securities Act
  o
  Soliciting material pursuant to Rule 14a-12
  under the Exchange Act
  o
  Pre-commencement communications
  pursuant to Rule 14d-2(b) under the Exchange Act
  o
  Pre-commencement communications
  pursuant to Rule 13e-4(c) under the Exchange Act
  Item 3.02 -
  Unregistered Sale of Equity Securities
  In May, June and November 2006
  and April 2007 Isonics Corporation ("Isonics") issued
  YA Global Investments, L.P. ("YA Global"),
  formerly known as Cornell Capital Partners, LP,
  a total of four
  convertible debentures having an aggregate face amount of $18,000,000.
  On both May 9, 2008 and May 21, 2008,
  YA Global converted a portion of the debenture originally issued in May 2006
  (the "May 2006 Debenture") into shares of Isonics common stock to
  partially satisfy the amount due under that debenture.  On those dates YA Global did not convert any
  portion of the debentures originally issued in June and November 2006
  or April 2007 into shares of our common stock, and therefore the amounts
  due under those debentures were not reduced.   
  The following sets forth the information required by Item 701 of
  Regulation S-K in connection with the issuances:
  1.           On May 9, 2008 YA Global converted $18,200 of face
  amount of the May 2006 Debenture into 777,778 shares of Isonics common
  stock.
  (a)           The
  transaction was completed effective as of the date stated above.
  (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 $18,200.
  (d)           We
  relied on the exemption 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
  Isonics 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.
  2.           On May 21, 2008 YA Global
  converted $16,000 of face amount of the May 2006 Debenture into
  812,183
  shares of Isonics common stock.
  (a)           The
  transaction was completed effective as stated above.
  (b)           There
  was no placement agent or underwriter for this transaction.
  (c)           The
  shares were not sold for cash, however the amount due under the May 2006
  Debenture was reduced by $16,000.
  (d)           We
  relied on the exemption from registration provided by Sections 4(2) and 4(6) under
  the Securities Act of 1933 for this transaction.
  We did not
  engage in
  2
  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
  Isonics 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 28th day of May 2008.
  Isonics Corporation
  By:
  /s/ John Sakys
  John Sakys
  President and Chief Operating Officer
  3