SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

SKIPTUNIS RAYMOND J

(Last)

(First)

(Middle)

4459 VIA BIANCA AVE

(Street)

LAS VEGAS

89141

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
POWER EFFICIENCY CORP [ PEFF ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/27/2007

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	11/27/2007		X		60,000	A	$20,000	82,539	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
STOCK OPTIONS	$0.65							⁽¹⁾	10/10/2014	COMMON STOCK	25,000		25,000	D
STOCK WARRANTS	$0.65							10/05/2004	10/04/2009	COMMON STOCK	36,000		36,000	D
STOCK OPTIONS	$0.2							05/23/2006	05/22/2015	COMMON STOCK	100,000		100,000	D
STOCK WARRANTS	$0.65							11/18/2004	11/17/2009	COMMON STOCK	50,000		50,000	D
STOCK OPTIONS	$0.35							⁽²⁾	05/12/2016	COMMON STOCK	112,500		112,500	D
STOCK OPTIONS	$0.3							⁽³⁾	01/17/2017	COMMON STOCK	150,000		150,000	D
Stock Options	$0.2	11/27/2007		X			100,000	05/23/2006	05/22/2015	Common Stock	100,000	$0.2	0	D

Explanation of Responses:

1. 12,500 ARE EXERCISABLE IMMEDIATELY, 12,500 ARE EXERCISEABLE ON 10-11-2005.

2. 37,500 BECOME EXERCISABLE ON 6-30-2006, 37,500 MORE BECOME EXERCISEABLE ON 9-30-2006, AND 37,500 BECOME EXERCISEABLE ON 12-31/2006

3. 37,500 become exercisable on 3-31-2007, 37,500 become exercisable on 6-30-2007, 37,500 become exercisable on 9-30-2007, and 37,500 become exercisable on 12-31-2007.

	Raymond Skiptunis	12/10/2007
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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