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<P STYLE="font: bold 14pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 12pt">_____________________________</P>

<P STYLE="font: bold 16pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">FORM 8-K</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">CURRENT REPORT<BR>
PURSUANT TO SECTION 13 OR 15(d) OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">Date of Report:</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">(Date of earliest event reported)</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-decoration: underline; text-align: center">December
22, 2011</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">____________________________</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PHOTOTRON HOLDINGS, INC.</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0.25in; text-align: center">(Exact name of registrant as specified
in charter)</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-decoration: underline; text-align: center">Delaware</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">(State or other Jurisdiction of Incorporation
or Organization)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; margin-left: 19.5pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>0-50385</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 2.9pt; text-align: center">(Commission File Number)</P></TD>
    <TD STYLE="width: 39%; font: 12pt Times New Roman, Times, Serif; padding-right: 6pt; padding-bottom: 2.9pt; padding-left: 6pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 33%; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>84-1588927</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 2.9pt; text-align: center">(IRS Employer Identification No.)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 6pt; padding-bottom: 2.9pt; padding-left: 6pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>20259 Ventura Boulevard</B></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Woodland Hills, CA 91364</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 2.9pt; text-align: center">(Address of Principal Executive Offices
        and zip code)</P></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 6pt; padding-bottom: 0.25in; padding-left: 6pt; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-decoration: underline; text-align: center">(818) 992-0200</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">(Registrant&rsquo;s telephone<BR>
number, including area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">[ ] 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">[ ] Soliciting material pursuant to Rule 14a-12(b) under the Exchange
Act (17 CFR 240.14a-12(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">[ ] 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 0 12pt"><FONT STYLE="font-family: TimesNewRoman,serif">[ ] Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>&#9;&nbsp;</U></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 96px; font: bold 10pt Times New Roman, Times, Serif">Item 1.01.</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">Entry into a Material Definitive Agreement.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">Item 2.03.</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On December 22, 2011, the
Registrant entered into a Revolving Promissory Note (the &ldquo;Revolving Note&rdquo;) with W-Net Fund I, L.P. (&ldquo;W-Net&rdquo;).
Under the terms of the Revolving Note, W-Net agreed to advance to the Registrant, from time to time and at W-Net&rsquo;s discretion,
amounts up to an aggregate of $150,000 pursuant to requests made by the Registrant until December 31, 2012. All advances shall
be paid on or before December 31, 2012 and interest shall accrue from the date of any advance on any principal amount withdrawn,
and on accrued and unpaid interest thereon, at the rate of twelve percent (12%) per annum, compounded annually.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Registrant&rsquo;s
obligations under the Revolving Note will accelerate, upon written notice from W-Net, upon a bankruptcy event with respect to the
Registrant, any default in the Registrant&rsquo;s payment obligations or the Registrant&rsquo;s breach of any provision of any
material agreement between the Registrant and W-Net. Upon an event of default, the Revolving Note will bear interest at the rate
of 15% per annum, compounded annually. As of the date of the Revolving Note, $30,000 was deemed outstanding under the Revolving
Note. A copy of the Revolving Note is attached to this Current Report on Form 8-K as Exhibit 10.1 and is incorporated herein by
reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 96px; font: bold 10pt Times New Roman, Times, Serif; text-align: justify">Item 1.02.</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: justify">Termination of a Material Definitive Agreement.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On December 24, 2011, the
Registrant and 20259 Ventura Blvd. LP (&ldquo;Lessor&rdquo;) entered into a Settlement and Lease Termination Agreement (&ldquo;Agreement&rdquo;).
The Registrant originally had entered into a lease agreement to lease 4,033 rentable square feet of office space, located at 20259
Ventura Blvd., Woodland Hills, CA 91364 through January 14, 2014 for approximately $8,033 per month (&ldquo;Lease&rdquo;). The
Registrant agreed to settle any and all liabilities under the Lease for 1,884,796 shares of Phototron Holdings, Inc. common stock.
In connection with the above security issuances, we did not pay any underwriting discounts or commissions. None of the sales of
securities described or referred to above was registered under the Securities Act. In making the sales without registration under
the Securities Act, we relied upon one or more of the exemptions from registration contained in Section 4(2) of the Securities
Act, and in Regulation D promulgated under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif">Item 9.01.</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">Financial Statements and Exhibits.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">(d)</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-decoration: underline">Exhibits.</TD></TR>
<TR>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 88%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 96px; font: 10pt Times New Roman, Times, Serif">10.1</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Revolving Promissory Note dated December 14, 2011 issued by Phototron Holdings, Inc. in favor of W-Net Fund I, L.P.</TD></TR>
</TABLE>
<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">&nbsp;</P>

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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">SIGNATURES</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">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: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in"><B>Phototron Holdings, Inc.<BR STYLE="mso-special-character: line-break">
<BR STYLE="mso-special-character: line-break">
</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 110pt">Date: December 27, 2011&#9;By:&#9;<U>/s/ BRIAN SAGHEB&#9;</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 243.35pt">Brian B. Sagheb</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 243.35pt">Chief Executive Officer</P>



<P STYLE="margin: 0"></P>

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{"company-data": {"conformed-name": "PHOTOTRON HOLDINGS, INC.", "cik": "0001161582", "assigned-sic": "3231", "irs-number": "841588927", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-50385", "film-number": "111283284"}, "business-address": {"street1": "20259 VENTURA BOULEVARD", "city": "WOODLAND HILLS", "state": "CA", "zip": "91364", "phone": "818.992.0200"}, "mail-address": {"street1": "20259 VENTURA BOULEVARD", "city": "WOODLAND HILLS", "state": "CA", "zip": "91364"}, "former-company": [{"former-conformed-name": "CATALYST LIGHTING GROUP INC", "date-changed": "20030909"}, {"former-conformed-name": "WENTWORTH III INC", "date-changed": "20011026"}]}
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
22, 2011
____________________________
PHOTOTRON HOLDINGS, INC.
(Exact name of registrant as specified
in charter)
Delaware
(State or other Jurisdiction of Incorporation
or Organization)
0-50385
(Commission File Number)
84-1588927
(IRS Employer Identification No.)
20259 Ventura Boulevard
Woodland Hills, CA 91364
(Address of Principal Executive Offices
        and zip code)
(818) 992-0200
(Registrant's telephone
number, including area code)
Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of 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(b) under the Exchange
Act (17 CFR 240.14a-12(b))
[ ] 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 December 22, 2011, the
Registrant entered into a Revolving Promissory Note (the "Revolving Note") with W-Net Fund I, L.P. ("W-Net").
Under the terms of the Revolving Note, W-Net agreed to advance to the Registrant, from time to time and at W-Net's discretion,
amounts up to an aggregate of $150,000 pursuant to requests made by the Registrant until December 31, 2012. All advances shall
be paid on or before December 31, 2012 and interest shall accrue from the date of any advance on any principal amount withdrawn,
and on accrued and unpaid interest thereon, at the rate of twelve percent (12%) per annum, compounded annually.
The Registrant's
obligations under the Revolving Note will accelerate, upon written notice from W-Net, upon a bankruptcy event with respect to the
Registrant, any default in the Registrant's payment obligations or the Registrant's breach of any provision of any
material agreement between the Registrant and W-Net. Upon an event of default, the Revolving Note will bear interest at the rate
of 15% per annum, compounded annually. As of the date of the Revolving Note, $30,000 was deemed outstanding under the Revolving
Note. A copy of the Revolving Note is attached to this Current Report on Form 8-K as Exhibit 10.1 and is incorporated herein by
reference.
Item 1.02.
Termination of a Material Definitive Agreement.
On December 24, 2011, the
Registrant and 20259 Ventura Blvd. LP ("Lessor") entered into a Settlement and Lease Termination Agreement ("Agreement").
The Registrant originally had entered into a lease agreement to lease 4,033 rentable square feet of office space, located at 20259
Ventura Blvd., Woodland Hills, CA 91364 through January 14, 2014 for approximately $8,033 per month ("Lease"). The
Registrant agreed to settle any and all liabilities under the Lease for 1,884,796 shares of Phototron Holdings, Inc. common stock.
In connection with the above security issuances, we did not pay any underwriting discounts or commissions. None of the sales of
securities described or referred to above was registered under the Securities Act. In making the sales without registration under
the Securities Act, we relied upon one or more of the exemptions from registration contained in Section 4(2) of the Securities
Act, and in Regulation D promulgated under the Securities Act.
Item 9.01.
Financial Statements and Exhibits.
(d)
Exhibits.
10.1
Revolving Promissory Note dated December 14, 2011 issued by Phototron Holdings, Inc. in favor of W-Net Fund I, L.P.
-
2
-
SIGNATURES
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.
Phototron Holdings, Inc.
Date: December 27, 2011	By:
/s/ BRIAN SAGHEB
Brian B. Sagheb
Chief Executive Officer