UNITED
STATES


SECURITIES
AND EXCHANGE COMMISSION


WASHINGTON,
D.C. 20549





FORM
10-K/A


Amendment
No. 2





x
            
            ANNUAL
      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
      1934


FOR THE
FISCAL YEAR ENDED DECEMBER 31, 2007




OR





 ̈
            
            TRANSITION
      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
      1934


FOR THE
TRANSITION PERIOD
FROM                TO




COMMISSION
FILE
NUMBER:                001-09727





PATIENT
SAFETY TECHNOLOGIES, INC.


(Exact
name of registrant as specified in its charter)





Delaware
            
            13-3419202(State
      of Incorporation)
            
            (I.R.S.
      Employer Identification Number)43460
      Ridge Park Drive, Suite 140, Temecula, CA 92591(Address
      of principal executive offices) (Zip
Code)





Registrant’s
telephone number, including area code: (951) 587-6201





Securities registered pursuant to
Section 12(b) of the Act:None





Securities
registered pursuant to Section 12(g) of the Act:





Title of each class
                Common
      Stock, par value $0.33 per share
              Name of each exchange on which
      registered
                OTC
      Bulletin Board





Indicate
by check mark if the registrant is a well-known seasoned issuer, as defined in
Rule 405 of the Securities Act. Yes   ̈
   No   x .





Indicate
by check mark if the registrant is not required to file reports pursuant to
Section 13 or Section 15(d) of the Act.  ̈





Indicate
by check mark whether the registrant (1) has filed all reports required to be
filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
past 12 months (or for such shorter period that the registrant was required to
file such reports), and (2) has been subject to such filing requirements for the
past 90 days.   Yes x
    No    ̈ .




Indicate
by check mark, if disclosure of delinquent filers in response to Item 405 of
Regulation S-K is not contained herein, and will not be contained, to the best
of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K.   ̈




Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, or a non-accelerated filer. See definition of “accelerated
filer and large accelerated filer” in Rule 12b-2 of the Exchange Act. (Check
one):


Large
      accelerated filer   ̈
            Accelerated
      filer   ̈
            Non-accelerated
      filer  x





Indicate
by check mark whether the registrant is a shell company (as defined in Rule
12b-2) of the Act. Yes   ̈
   No   x .




As of
April 11, 2008, 12,079,602 shares of the issuer's Common Stock were outstanding.
The aggregate market value of the voting stock held by non-affiliates on April
11, 2008 was approximately $9,303,000 based on the average of the bid and asked
prices of the issuer's common stock in the over-the-counter market on such date
as reported by the OTC Bulletin Board.










EXPLANATORY
NOTE





Patient
Safety Technologies, Inc. (the “Company”) is filing this Amendment No. 2 on Form
10-K/A (this “Amendment”) to its Annual Report on Form 10-K for the fiscal year
ended December 31, 2007, which was originally filed on April 15, 2008 (the
“Original Filing”).





The
purpose of this Amendment is to correct a typographical error in Exhibit 31,
Certifications of the Chief Executive Officer and Chief Financial Officer where
a portion of the original certification was inadvertently
omitted. The
current Chief Executive Officer and Interim Chief Financial Officer, who are
signing on behalf of the Company, took their respective positions with the
Company on January 5, 2009 and October 13, 2008, respectively. They have
reviewed the auditors report and the internal auditors report for the Company's
fiscal year ended December 31, 2007 as part of the process to provide the
certifications. This Amendment amends and restates in their entirety only the
cover page and Exhibit 31.1 and 31.2. This
Amendment does not affect any other parts of Form 10-K or exhibits to the
Original Filing, and those unaffected parts or exhibits are not included in this
Amendment.





Except as
expressly stated herein, this Amendment continues to speak as of the date of the
Original Filing and the Company has not updated the disclosure contained herein
to reflect events that have occurred since the filing of the Original
Filing.  Accordingly, this Amendment should be read in conjunction
with the Company’s other filings, if any, made with the Securities and Exchange
Commission subsequent to the filing of the Original Filing, including any
amendments to those filings.