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 *
  Dance Claude A.
 2. Date of Event Requiring Statement (Month/Day/Year)
12/26/2007		 3. Issuer Name and Ticker or Trading Symbol
SHARPS COMPLIANCE CORP [SCOM]
(Last)
(First)
(Middle)
9220 KIRBY DRIVE, SUITE 500		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Sr. VP of Sales & Marketing
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

HOUSTON, TX 77054		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ 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
Sharps Compliance Corp. Common Stock Option 12/26/2008(1) 12/26/2014 Common Stock 25,000 (2) $ 3.01 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Dance Claude A.
9220 KIRBY DRIVE
SUITE 500
HOUSTON, TX 77054		       Sr. VP of Sales & Marketing  

Signatures

Lynn Carnes 12/26/2007
**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) Vesting 33.3% on each December 26, 2008, 2009 & 2010.
(2) Granted under the 1993 Sharps Compliance Corp. Stock Plan.
 
Remarks:
In conjuction with his appointment as an officer on December 26, 2007, Mr. Dance is entitled to a future grant of 75,000 Sharps Compliance Corp. stock options as long as Mr. Dance is an employee of the Company ninety (90) days from December 26, 2007. Such future stock options, if issued, will have an exercise price equal to the market price of the Company's common stock at date of grant and will vest over a three (3) year period.

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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