SC 13G 1 sc13g0313brio_plcsystems.htm SCHEDULE 13G sc13g0313brio_plcsystems.htm


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

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. ___)


PLC SYSTEMS, INC.

(Name of Issuer)
 

COMMON STOCK, NO PAR VALUE

(Title of Class of Securities)


69341D104

(CUSIP Number)



Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(c)
 
*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).


(Continued on following page(s)

Page 1 of 4 Pages
 
 
 

 
 
CUSIP No. 69341D104    13G    Page 2 of 4 Pages
 
 1.    NAMES OF REPORTING PERSON
                S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

                     Brio Capital Master Fund Ltd.

2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
                                                                 (a)   [_]
                                                                 (b)   [_]

3.    SEC USE ONLY


4.    CITIZENSHIP OR PLACE OF ORGANIZATION

Cayman Islands

5.   SOLE VOTING POWER, NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON – 6,469,467 Common Stock
 

6.   SHARED VOTING POWER - None
 

7.   SOLE DISPOSITIVE POWER – 6,469,467 shares of Common Stock
 
 

8.   SHARED DISPOSITIVE POWER – None
 
 

9.     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -

6,469,467 shares of Common Stock

10.    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES                                                   [   X   ]
 
The aggregate amount in Row 9 represents the maximum amount of shares that Brio Capital Master Fund Ltd. (“Brio”) can beneficially control under a contractually stipulated 9.99% ownership restriction as of March 13, 2013.

11.    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

9.99%

12.    TYPE OF REPORTING PERSON
 
CO

 
 
 

 
 
CUSIP No. 69341D104    13G    Page 3 of 4 Pages
 
ITEM 1 (a) NAME OF ISSUER: PLC Systems, Inc., a Yukon Territory, Canada corporation

ITEM 1 (b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

             459 Fortune Boulevard, Milford, MA 01757

ITEM 2 (a) NAME OF PERSON FILING: Brio Capital Master Fund Ltd.

ITEM 2 (b) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:

c/o Brio Capital Management LLC, 100 Merrick Road, Suite 401W, Rockville Centre, NY 11570

ITEM 2 (c) CITIZENSHIP: Cayman Islands

ITEM 2 (d) TITLE OF CLASS OF SECURITIES: Common Stock, no par value

ITEM 2 (e) CUSIP NUMBER: 69341D104

ITEM 3 IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B) OR 13D-2(B):  Not applicable

ITEM 4 OWNERSHIP

         (a) AMOUNT BENEFICIALLY OWNED: 6,469,467 Shares of Common Stock

         (b) PERCENT OF CLASS: 9.99%

         (c) NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:

             (i)   SOLE POWER TO VOTE OR DIRECT THE VOTE

6,469,467 Shares

             (ii)  SHARED POWER TO VOTE OR DIRECT THE VOTE

0 Shares

             (iii) SOLE POWER TO DISPOSE OR TO DIRECT THE DISPOSITION OF

6,469,467 Shares

             (iv) SHARED POWER TO DISPOSE OR TO DIRECT THE DISPOSITION OF

 0 Shares
 
 
 

 
 
CUSIP No. 69341D104    13G    Page 4 of 4 Pages

ITEM 5 OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
 
Not applicable
 
ITEM 6 OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON

Not applicable

ITEM 7 IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY

Not applicable

ITEM 8 IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF A GROUP

Not applicable

ITEM 9   NOTICE OF DISSOLUTION OF GROUP

Not applicable
 

SIGNATURE

         After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
 
 
  March 15, 2013
  (Date)
   
  /s/ Shaye Hirsch
  (Signature)
   
  Shaye Hirsch, Director
  (Name/Title)