PMTI Palomar Medical Technologies, Inc. (MM)

CUSIP No. 697529303
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1. NAME OF REPORTING PERSONS
 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 Craig A. Drill
 d/b/a Craig Drill Capital Corporation and Craig Drill Capital, LLC

2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
 (a) [_]
 (b) [X]

3. SEC USE ONLY

4. CITIZENSHIP OR PLACE OF ORGANIZATION

 United States of America

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH

5. SOLE VOTING POWER

 0

6. SHARED VOTING POWER

 366,300

7. SOLE DISPOSITIVE POWER

 0

8. SHARED DISPOSITIVE POWER

 366,300

9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 366,300

10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
 CERTAIN SHARES

 [_]

11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 2.00%

12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 IN; HC

CUSIP No. 697529303
 ---------

1. NAME OF REPORTING PERSONS
 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 Craig Drill Capital, L.L.C.

2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
 (a) [_]
 (b) [X]

3. SEC USE ONLY

4. CITIZENSHIP OR PLACE OF ORGANIZATION

 Delaware

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH

5. SOLE VOTING POWER

 0

6. SHARED VOTING POWER

 204,300

7. SOLE DISPOSITIVE POWER

 0

8. SHARED DISPOSITIVE POWER

 204,300

9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 204,300

10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
 CERTAIN SHARES

 [_]

11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 1.11%

12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 OO; IA

CUSIP No. 697529303
 ---------

Item 1(a). Name of Issuer:

 Palomar Medical Technologies, Inc.
 -------------------------------------------------------------------

 (b). Address of Issuer's Principal Executive Offices:

 82 Cambridge Street
 Burlington, Massachusetts 01803
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Item 2(a). Name of Person Filing:

 Craig A. Drill
 d/b/a Craig Drill Capital Corporation and Craig Drill Capital, LLC

 Craig Drill Capital, L.L.C.
 --------------------------------------------------------------------

 (b). Address of Principal Business Office, or if None, Residence:

 724 Fifth Avenue
 9th Floor
 New York, New York 10019
 --------------------------------------------------------------------

 (c). Citizenship:

 Craig A. Drill d/b/a Craig Drill Capital
 Corporation and Craig Drill Capital, LLC -- United States of America

 Craig Drill Capital, L.L.C. -- Delaware
 -------------------------------------------------------------------

 (d). Title of Class of Securities:

 Common Stock, $0.01 par value
 --------------------------------------------------------------------

 (e). CUSIP Number:

 697529303
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Item 3. If This Statement is filed pursuant to ss.240.13d-1(b) or
 240.13d-2(b), or (c), check whether the person filing is a:

 (a) [_] Broker or dealer registered under Section 15 of the Exchange Act
 (15 U.S.C. 78c).

 (b) [_] Bank as defined in Section 3(a)(6) of the Exchange Act (15 U.S.C.
 78c).

 (c) [_] Insurance company as defined in Section 3(a)(19) of the Exchange
 Act (15 U.S.C. 78c).

 (d) [_] Investment company registered under Section 8 of the Investment
 Company Act of 1940 (15 U.S.C. 80a-8).

 (e) [X] An investment adviser in accordance with s.240.13d-1(b)(1)(ii)(E);

 (f) [_] An employee benefit plan or endowment fund in accordance with
 s.240.13d-1(b)(1)(ii)(F);

 (g) [X] A parent holding company or control person in accordance with
 Rule 13d-1(b)(1)(ii)(G);

 (h) [_] A savings association as defined in Section 3(b) of the Federal
 Deposit Insurance Act (12 U.S.C.1813);

 (i) [_] A church plan that is excluded from the definition of an
 investment company under Section 3(c)(14) of the Investment
 Company Act of 1940 (15 U.S.C. 80a-3);

 (j) [_] Group, in accordance with s.240.13d-1(b)(1)(ii)(J).

Item 4. Ownership.

 Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.

Craig A. Drill d/b/a Craig Drill Capital Corporation and Craig Drill
Capital, LLC

 (a) Amount beneficially owned:

 366,300
 ----------------------------------------------------------------------

 (b) Percent of class:

 2.00%
 ----------------------------------------------------------------------

 (c) Number of shares as to which the person has:

 (i) Sole power to vote or to direct the vote 0
 -------------,

 (ii) Shared power to vote or to direct the vote 366,300
 -------------,

 (iii) Sole power to dispose or to direct the
 disposition of 0
 -------------,

 (iv) Shared power to dispose or to direct the
 disposition of 366,300
 -------------.

Craig Drill Capital, L.L.C.

 (a) Amount beneficially owned:

 204,300
 ----------------------------------------------------------------------

 (b) Percent of class:

 1.11%
 ----------------------------------------------------------------------

 (c) Number of shares as to which the person has:

 (i) Sole power to vote or to direct the vote 0
 -------------,

 (ii) Shared power to vote or to direct the vote 204,300
 -------------,

 (iii) Sole power to dispose or to direct the
 disposition of 0
 -------------,

 (iv) Shared power to dispose or to direct the
 disposition of 204,300
 -------------.

Item 5. Ownership of Five Percent or Less of a Class.

 If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following [X].


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Item 6. Ownership of More Than Five Percent on Behalf of Another Person.

 If any other person is known to have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of, such
securities, a statement to that effect should be included in response to this
item and, if such interest relates to more than five percent of the class, such
person should be identified. A listing of the shareholders of an investment
company registered under the Investment Company Act of 1940 or the beneficiaries
of employee benefit plan, pension fund or endowment fund is not required.

 Not Applicable
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Item 7. Identification and Classification of the Subsidiary Which Acquired the
 Security Being Reported on by the Parent Holding Company.

 If a parent holding company has filed this schedule, pursuant to Rule
13d-1(b)(1)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating
the identity and the Item 3 classification of the relevant subsidiary. If a
parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule
13d-1(d), attach an exhibit stating the identification of the relevant
subsidiary.

 Not Applicable
 ----------------------------------------------------------------------

Item 8. Identification and Classification of Members of the Group.

 If a group has filed this schedule pursuant to ss.240.13d-1(b)(1)(ii)(J),
so indicate under Item 3(j) and attach an exhibit stating the identity and Item
3 classification of each member of the group. If a group has filed this schedule
pursuant to ss.240.13d-1(c) or ss.240.13d-1(d), attach an exhibit stating the
identity of each member of the group.

 Not Applicable
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Item 9. Notice of Dissolution of Group.

 Notice of dissolution of a group may be furnished as an exhibit stating the
date of the dissolution and that all further filings with respect to
transactions in the security reported on will be filed, if required, by members
of the group, in their individual capacity. See Item 5.

 Not Applicable
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Item 10. Certification.

 By signing below I certify that, to the best of my knowledge and
 belief, the securities referred to above were acquired and are held in
 the ordinary course of business and were not acquired and are not held
 for the purpose of or with the effect of changing or influencing the
 control of the issuer of the securities and were not acquired and are
 not held in connection with or as a participant in any transaction
 having that purpose or effect.