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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  EASTON HUNT CAPITAL PARTNERS LP
 2. Date of Event Requiring Statement (Month/Day/Year)
03/12/2007		 3. Issuer Name and Ticker or Trading Symbol
SPECTRX INC [SPRX]
(Last)
(First)
(Middle)
767 THIRD AVENUE, 7TH FLOOR		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

NEW YORK, NY 10017		 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
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)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 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
Series A Convertible Preferred Stock   (1)   (2) Common Stock 1,923,069 (3) $ 0.65 (4) I By: Easton Hunt Capital Partners, L.P. (5)
Common Stock Warrant   (1) 03/26/2009 Common Stock 416,665 $ 0.81 I By: Easton Hunt Capital Partners, L.P. (5)

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
EASTON HUNT CAPITAL PARTNERS LP
767 THIRD AVENUE, 7TH FLOOR
NEW YORK, NY 10017		     X    
EHC, Inc.
767 THIRD AVENUE, 7TH FLOOR
NEW YORK, NY 10017		     X    
EHC GP, LP
767 THIRD AVENUE, 7TH FLOOR
NEW YORK, NY 10017		     X    

Signatures

/s/ Richard Schneider, Vice President of EHC, Inc., the general partner of EHC GP, LP, the general partner of Easton Hunt Capital Partners, LP 06/14/2007
**Signature of Reporting Person Date
/s/ Richard Schneider, Vice President of EHC, Inc. the general partner of EHC GP, LP 06/14/2007
**Signature of Reporting Person Date
/s/ Richard Schneider, Vice President of EHC, Inc. 06/14/2007
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) Immediately exercisable
(2) None
(3) This amount does not include shares of common stock which may be acquired upon conversion of accrued but unpaid dividends on the Series A Convertible Preferred Stock. See footnote (4).
(4) Each share of Series A Convertible Preferred Stock is convertible into the number of shares of common stock equal to the quotient obtained by dividing the sum of (i) $15.00 (as adjusted from time to time for changes in the Series A Convertible Preferred Stock by stock split, stock dividend or other similar circumstances), plus (ii) all accrued but unpaid dividends on such share of Series A Convertible Preferred Stock, by the conversion price per share of $0.65 (as mau be adjusted from time to time to take into account certain anti-dilutive events). The Reporting Person beneficially owns 83,333 shares of Seriea A Convertible Preferred Stock.
(5) EHC, Inc. is the general partner of EHC GP, L.P., which is the general partner of Easton Hunt Capital Partners, L.P. The securities are directly held by Easton Hunt Capital Partners, L.P.

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