CURRENT REPORT PURSUANT TO SECTION 13 OR 15 (d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of report

(Date of earliest event reported) ~~June~~July 1831, 2008

MICRO COMPONENT TECHNOLOGY, INC.

(Exact name of registrant as specified in its charter)

Minnesota	0-22384	41-0985960
(State or other jurisdiction of	(Commission File	(I.R.S. Employer
incorporation or organization)	Number)	Identification No.)

2340 West County Road C, St. Paul, Minnesota 55113

(651) 697-4000

(Address, including zip code, and telephone number, including area

code, of registrant’s principal executive offices)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simutaneously satify the filing obligation of the registrant under any of the following provision:

o Written communications pursuant to Rule 425 under the Securities Act (17 CRF 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CRF 240.14d-2(b))

ITEM 2.05		COSTS ASSOCIATED WITH EXIT OR DISPOSAL ACTIVITIES.
ITEM 1.01	ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
		On June 18, 2008, the Company initiated an employee restructuring. The Company will be incurring approximately $70,000 in severance costs related to the terminations. Also, salary reductions for a number of other salaried employees were announced.
	On July 31, 2008, the Company entered into a loan transaction with affiliates of its senior secured lender, Laurus Master Funds, Ltd. The Company borrowed an additional $3,500,000 pursuant to a secured note. The note bears interest at the rate of twelve (12%) percent per annum, and is secured by all of the assets of the Company and its subsidiaries. As part of this transaction, the Company granted to the secured lender’s affiliates a ten-year warrant to purchase 31,000,000 shares of the Company’s common stock at $0.01 per share. The new loan matures on November 30, 2008. Also as part of this transaction, the allowed overadvance on the Company’s revolving line of credit with the secured lender was increased to $1,000,000 until November 30, 2008. The maturity date of this new loan, and of all of the Company’s debt with the secured lender and its affiliates (including the overadvance), will be extended to July 31, 2010 if, no later than November 30, 2008, the Company holds a shareholders’ meeting to increase its number of authorized shares, and grants to the secured lender’s affiliates an additional ten-year warrant to purchase 146,143,792 shares of the Company’s common stock at $0.01 per share. The Company believes that this financing transaction provides the capability to allow the Company to move forward with various strategic initiatives not available previously.
ITEM 5.02		DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
ITEM 2.02	RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
		On June 19, 2008, the Company’s Board of Directors approved the 2008 Non-Qualified Stock Option Plan for the purpose of granting options to employees and directors whose pay has been reduced. A total of 5,000,000 shares has been reserved for the grant of options under the plan. Options will be granted with an exercise price equal to the market value of the stock on the date of grant. The options will vest monthly over a one-year period.
	On August 6, 2008, the Company issued a press release disclosing financial information regarding the quarter ended June 28, 2008. A copy of the press release is attached as Exhibit 99.1
ITEM 9.01		FINANCIAL STATEMENTS AND EXHIBITS.
ITEM 3.02	UNREGISTERED SALES OF EQUITY SECURITIES
(d)		2008 Non-Qualified Stock Option Plan
	On July 31, 2008, the Company sold to affiliates of its senior secured lender a warrant to purchase 31,000,000 shares of its common stock at $0.01 per share. The warrant is immediately exercisable, and has a ten-year term. The warrant may be exercised in whole or in part by the holder by payment of the exercise price, or through a “cashless exercise”, in which part of the value of the warrant is used to pay the exercise price. Issuance of the warrant was exempt from registration under Section 4(2) of the Securities Act of 1933, because the affiliates are accredited investors with access to material information about the Company, the issuance was in a private transaction with no general solicitation or advertising, the warrant is subject to restrictions on transfer, and no commissions or other remunerations were paid.
ITEM 9.01	FINANCIAL STATEMENTS AND EXHIBITS.
(d)	Exhibits
99.1	Press release dated August 06, 2008.

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.

		MICRO COMPONENT TECHNOLOGY, INC.
		(Registrant)
Date: June 24, 2008
		By: /s/ Bruce R. Ficks
		(Bruce R. Ficks, Chief Financial Officer)

	MICRO COMPONENT TECHNOLOGY, INC.

	(Registrant)

Date:	August 6, 2008

	By:	/s/ Bruce R. Ficks

		(Bruce R. Ficks, Chief Financial Officer)

EXHIBIT INDEX

Ex. No.		Description
10.1		2008 Non-Qualified Stock Option Plan
99.1		Press release dated August 6, 2008.

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