On Kickstarter right now is BULLET, which is said to be the world's smallest LED flashlight if it goes into full production. It has already achieved funding goals with a lot days to spare. Just be aware that it may attract attention at airports, especially in the Philippines... "Light is essential in our everyday lives. We need it to see—when in cars, when finding keyholes, even when we’re outdoors. We have noticed that many everyday carry, or EDC, essentials are too dull, and current EDC flashlights are too big and bulky, so we set out to create our own.
It all started when I needed a flashlight one evening after I dropped my phone under my car. I immediately needed a light but did not have one. I thought to myself, "It would be great to have a flashlight, but the size of a bullet."