FORM 3
        
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

YA Global Investments

2. Date of Event Requiring Statement (MM/DD/YYYY)
12/30/2008 

3. Issuer Name and Ticker or Trading Symbol

ISONICS CORP [ISON]

(Last)        (First)        (Middle)

101 HUDSON STREET, SUITE 3700

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

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

(Street)

JERSEY CITY, NJ 07302       

(City)              (State)              (Zip)
5. If Amendment, Date Original Filed (MM/DD/YYYY)

 

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

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


Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4) 		2. Amount of Securities Beneficially Owned
(Instr. 4) 		3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5) 		4. Nature of Indirect Beneficial Ownership
(Instr. 5)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 4) 		2. Date Exercisable and Expiration Date
(MM/DD/YYYY) 		3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4) 		4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5) 		6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Secured Convertible Debenture 13.0%   (1)   (6) 10/31/2009   Common Stock   9857800     (7) D   (8) (9)  
Secured Convertible Debenture 13.0%   (2)   (6) 10/31/2009   Common Stock   2000000     (7) D   (8) (9)  
Warrant   (3)   (6) 5/30/2009   Common Stock   500000   $5.00   D   (8) (9)  
Warrant   (4)   (6) 5/30/2009   Common Stock   750000   $7.00   D   (8) (9)  
Warrant   (5)   (6) 5/30/2009   Common Stock   750000   $8.00   D   (8) (9)  
Warrant     (6) 6/13/2015   Common Stock   13000000   $0.03   D   (8) (9)  
Warrant     (6) 4/10/2010   Common Stock   250000   $0.07   D   (8) (9)  

Explanation of Responses:
( 1)  The Secured Convertible Debenture (No. CCP-1) was originally issued on May 31, 2006, pursuant to a Securities Purchase Agreement, dated May 31, 2006, by and among the Issuer and YA Global, in the principal amount of $10,000,000. ("Debenture No. 1"). Debenture No. 1 was amended and restated as Secured Convertible Debenture (No. CCP-3), on June 13, 2006 and further amended pursuant to Amendment No. 1 ("Amendment to Debenture No. 1") thereto on June 13, 2008. As amended, Debenture No. 1 is convertible into shares of Common Stock at a per share price equal to the lower of (i) $.03 or (ii) 80% of the lowest volume weighted average price over the previous ten trading days.
( 2)  The Secured Convertible Debenture (No. CCP-2007-1), was originally issued on April 10, 2007, pursuant to a Securities Purchase Agreement, dated April 10, 2006, by and among the Issuer and YA Global, in the principal amount of $2,000,000. ("Debenture No. 2"). Debenture No. 2 was amended pursuant to Amendment No. 1 ("Amendment to Debenture No. 2") on June 13, 2008, As amended, Debenture No. 2 is convertible into shares of Common Stock at a per share price equal to the lower of (i) $.03 or (ii) 80% of the average two lowest volume weighted average price over the previous ten trading days.
( 3)  Warrant to Purchase Common Stock (No. CCP-001), which was amended and restated on June 13, 2006 as Amended and Restated Warrant to Purchase Common Stock (No. CCP-002), to purchase 2,000,000 shares of Common Stock at a purchase price of $1.25 per share ("Warrant No. 1"). On February 13, 2007, the Issuer consummated a 4:1 reverse stock split of the Common Stock as a result of which the number of shares of Common Stock that may be purchased pursuant to Warrant No. 1 was amended on the books of YA Global to 500,000.
( 4)  Warrant to Purchase Common Stock (No. CCP-002), which was amended and restated on June 13, 2006 as Amended and Restated Warrant to Purchase Common Stock (No. CCP-003), to purchase 3,000,000 shares of Common Stock at a purchase price of $1.75 per share ("Warrant No. 2"). On February 13, 2007, the Issuer consummated a 4:1 reverse stock split of the Common Stock as a result of which the number of shares of Common Stock that may be purchased pursuant to Warrant No. 1 was amended on the books of YA Global to 750,000.
( 5)  Warrant to Purchase Common Stock (No. CCP-003), which was amended and restated on June 13, 2006, as Amended and Restated Warrant to Purchase Common Stock (No. CCP-004), to purchase 3,000,000 shares of Common Stock at a purchase price of $2.00 per share ("Warrant No. 3"). On February 13, 2007, the Issuer consummated a 4:1 reverse stock split of the Common Stock as a result of which the number of shares of Common Stock that may be purchased pursuant to Warrant No. 1 was amended on the books of YA Global to 750,000.
( 6)  These derivative securities are presently exercisable.
( 7)  $0.03 or 80% of the lowest VWAP for the previous (10) trading days.
( 8)  YA Global Investments, L.P. ("YA Global") directly owns the Derivative Securities. As the Investment Manager of YA Global, Yorkville Advisors, LLC ("Yorkville") may be deemed to beneficially own the Derivative Securities beneficially owned by YA Global. As the president of Yorkville, the investment manager to YA Global, and as the portfolio manager to YA Global, Mark Angelo ("Angelo") may be deemed to beneficially own the Derivative Securities beneficially owned by YA Global.
( 9)  Except for the Derivative Securities beneficially owned by YA Global, the other Reporting Persons disclaim beneficial ownership of these securities except to the extent of his or its pecuniary interest, and its report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of these securities for the purpose of Section 16 or for any other purpose.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
YA Global Investments
101 HUDSON STREET, SUITE 3700
JERSEY CITY, NJ 07302
X

YORKVILLE ADVISORS LLC
101 HUDSON STREET, SUITE 3700
JERSEY CITY, NJ 07302
X

ANGELO MARK
101 HUDSON STREET, SUITE 3700
JERSEY CITY, NJ 07302
X


Signatures
/s/ Steven S. Goldstein By: Yorkville Advisors, LLC By: Steven S. Goldstein 1/12/2009
** Signature of Reporting Person Date

/s/ Steven S. Goldstein By: Yorkville Advisors, LLC By: Steven S. Goldstein Its: Investment Manager 1/12/2009
** Signature of Reporting Person Date

/s/ Mark Angelo By: Mark Angelo 1/12/2009
** 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 5(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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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