0001493152-18-011317.txt : 20180810 0001493152-18-011317.hdr.sgml : 20180810 20180810080133 ACCESSION NUMBER: 0001493152-18-011317 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 54 CONFORMED PERIOD OF REPORT: 20180630 FILED AS OF DATE: 20180810 DATE AS OF CHANGE: 20180810 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VYCOR MEDICAL INC CENTRAL INDEX KEY: 0001424768 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] IRS NUMBER: 203369218 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-34932 FILM NUMBER: 181007031 BUSINESS ADDRESS: STREET 1: 951 BROKEN SOUND PARKWAY STREET 2: SUITE 320 CITY: BOCA RATON, STATE: FL ZIP: 33487 BUSINESS PHONE: 562.558.2000 MAIL ADDRESS: STREET 1: 951 BROKEN SOUND PARKWAY STREET 2: SUITE 320 CITY: BOCA RATON, STATE: FL ZIP: 33487 10-Q 1 form10q.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

FORM 10-Q

(Mark One)

[X]	QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

	For the fiscal quarter ended June 30, 2018

[ ]	TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

	For the transition period from to

VYCOR MEDICAL, INC.

(Exact name of small business issuer as specified in its charter)

Delaware	001-34932	20-3369218
(State of	(Commission	(IRS Employer
Incorporation)	File Number)	Identification No.)

951 Broken Sound Parkway, Suite 320, Boca Raton, FL 33487
(Address of principal executive offices) (Zip code)

Issuer’s telephone number: (561) 558-2020

Securities registered under Section 12(g) of the Exchange Act:

Common Stock par value $0.0001

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [ ] No [ ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer [ ]		Accelerated Filer [ ]
Non-accelerated Filer [ ] (Do not check if a smaller reporting company)		Smaller Reporting Company [X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). [ ] Yes [ ] No

There were 22,217,049 shares outstanding of registrant’s common stock, par value $0.0001 per share, as of August 10, 2018.

Transitional Small Business Disclosure Format (check one): Yes [ ] No [X]

TABLE OF CONTENTS

		Page
PART I

Item 1.	Financial Statements	3

	Unaudited Consolidated Balance Sheets as of June 30, 2018 and December 31, 2017	3

	Unaudited Consolidated Statements of Comprehensive Loss for the three and six months ended June 30, 2018 and 2017.	4

	Unaudited Consolidated Statements of Cash Flows for the six months ended June 30, 2018 and 2017.	5

	Notes to Unaudited Consolidated Financial Statements	6

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operation	14

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	20

Item 4.	Controls and Procedures	20

PART II

Item 1.	Legal Proceedings	21

Item 1A.	Risk Factors	21

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	21

Item 3.	Defaults Upon Senior Securities	21

Item 4.	Mine Safety Disclosures	21

Item 5.	Other Information	21

Item 6.	Exhibits	21

SIGNATURES		22

PART I

ITEM 1.

FINANCIAL STATEMENTS

VYCOR MEDICAL, INC.
Consolidated Balance Sheets

(Unaudited)

	June 30, 2018			December 31, 2017

ASSETS
Current Assets
Cash	$	76,733		$	206,213
Trade accounts receivable		136,322			110,422
Inventory		182,346			213,883
Prepaid expenses and other current assets		76,617			77,990
Total Current Assets		472,018			608,508

Fixed assets, net		473,829			489,170

Intangible and Other assets:
Trademarks		251,157			251,157
Patents, net of accumulated amortization		58,183			81,064
Website, net of accumulated amortization		8,104			10,389
Security deposits		6,528			9,169
Total Intangible and Other assets		323,972			351,779
TOTAL ASSETS	$	1,269,819		$	1,449,457

LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIENCY)
Current Liabilities
Accounts payable	$	117,978		$	141,319
Accrued interest: Other		208,568			184,765
Accrued interest: Related party		13,486			12,840
Accrued liabilities - Other		196,985			161,328
Accrued liabilities - Related Party		486,555			549,370
Notes payable: Other		323,080			318,393
Notes payable: Related Party		163,000			-
Total Current Liabilities		1,509,652			1,368,015

STOCKHOLDERS’ EQUITY (DEFICIENCY)
Preferred stock, $0.0001 par value, 10,000,000 shares authorized, 270,306 and 270,306 issued and outstanding as at June 30, 2018 and December 31, 2017 respectively		27			27
Common Stock, $0.0001 par value, 55,000,000 shares authorized, 22,320,393 and 19,925,322 shares issued and 22,217,049 and 19,821,988 outstanding at June 30, 2018 and December 31, 2017 respectively		2,232			1,993
Additional Paid-in Capital		27,504,960			26,921,574
Treasury Stock (103,334 shares of Common Stock at cost)		(1,033	)		(1,033	)
Accumulated Deficit		(27,873,365	)		(26,965,960	)
Accumulated Other Comprehensive Income		127,346			124,841
Total Stockholders’ Equity (Deficiency)		(239,833	)		81,442
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIENCY)	$	1,269,819		$	1,449,457

See accompanying notes to financial statements

VYCOR MEDICAL, INC.
Consolidated Statements of Comprehensive Loss
(Unaudited)

	For the three months ended June 30,						For the six months ended June 30,
	2018			2017			2018			2017

Revenue	$	301,665		$	307,684		$	626,766		$	736,083
Cost of Revenues Sold		46,987			39,445			76,330			87,421
Gross Profit		254,678			268,239			550,436			648,662

Operating expenses:
Depreciation and Amortization		43,329			69,264			85,332			138,636
General and administrative		616,997			552,865			1,185,302			1,163,635
Total Operating expenses		660,326			622,129			1,270,634			1,302,271
Operating loss		(405,648	)		(353,890	)		(720,198	)		(653,609	)

Other income (expense)
Interest expense: Other		(12,199	)		(8,809	)		(24,225	)		(20,853	)
Interest expense: Related Party		(646	)		-			(646	)		(679	)
Loss on foreign currency exchange		(91	)		1,982			(151	)		1,632
Total Other Income (expense)		(12,936	)		(6,827	)		(25,022	)		(19,900	)

Loss Before Credit for Income Taxes		(418,584	)		(360,717	)		(745,220	)		(673,509	)
Credit for income taxes		-			-			-			-
Net Loss		(418,584	)		(360,717	)		(745,220	)		(673,509	)
Preferred stock dividends		-			-			(162,185	)		(162,185	)
Net Loss available to common shareholders		(418,584	)		(360,717	)		(907,405	)		(835,694	)
Comprehensive Loss
Foreign Currency Translation Adjustment		3,667			(2,959	)		2,505			(2,959	)
Comprehensive Loss	$	(414,917	)	$	(363,676	)	$	(904,900	)	$	(838,653	)

Net Loss Per Share
Basic and diluted	$	(0.02	)	$	(0.02	)	$	(0.04	)	$	(0.05	)

Weighted Average Number of Shares Outstanding – Basic and Diluted		21,542,847			18,674,287			20,768,663			16,970,241

See accompanying notes to financial statements

VYCOR MEDICAL, INC.
Consolidated Statement of Cash Flows
(Unaudited)

	For the six months ended
	June 30,
	2018			2017
Cash flows from operating activities:
Net loss	$	(745,220	)	$	(673,509	)
Adjustments to reconcile net loss to cash used in operating activities:
Amortization of intangible assets		25,166			86,118
Depreciation of fixed assets		64,902			60,214
Inventory provision		-			2,544
Stock based compensation		358,625			197,868
Accrued liabilities - Related Party		-			82,500
loss on foreign exchange		-			1,634

Changes in assets and liabilities:
Accounts receivable		(25,900	)		30,897
Inventory		31,537			26,507
Prepaid expenses		1,375			47,970
Security Deposits		2,641			(4,245	)
Accrued interest - Related Party		646			680
Accrued interest - Other		23,803			23,803
Accounts payable		(23,341	)		(128,956	)
Accrued liabilities - Other		35,657			(3,542	)
Cash used in operating activities		(250,109	)		(249,517	)
Cash flows from investing activities:
Purchase of fixed assets		(50,035	)		(88,012	)
Cash used in investing activities		(50,035	)		(88,012	)
Cash flows from financing activities:
Proceeds from issuance of common stock, net		-			842,207
Proceeds from Notes Payable - Related Party		163,000			-
Proceeds net of repayments Notes Payable - Other		4,687			(37,735	)
Cash provided by financing activities		167,687			804,472
Effect of exchange rate changes on cash		2,977			(5,047	)
Net increase (decrease) in cash		(129,480	)		461,896
Cash at beginning of period		206,213			56,859
Cash at end of period	$	76,733		$	518,755

Supplemental Disclosures of Cash Flow information:
Cash paid for interest	$	0		$	0
Cash paid for income tax	$	0		$	0
Non-Cash Transactions:
Common stock issued upon conversion of debt	$	0		$	248,000
Common stock issued in respect of funds held in escrow	$	0		$	101,000
Common stock issued to related party for payment of accrued liabilities	$	225,000		$	0

See Accompanying Notes to Financial Statements

VYCOR MEDICAL, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
June 30, 2018
(Unaudited)

1.	BASIS OF PRESENTATION

The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X of the Securities Exchange Commission. In accordance with those rules and regulations certain information and footnote disclosures normally included in consolidated financial statements have been omitted pursuant to such rules and regulations. The consolidated balance sheet as of December 31, 2017 derives from the audited financial statements at that date, but does not include all the information and footnotes required by GAAP. These financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017.

The unaudited consolidated financial statements as of and for the three and six months ended June 30, 2018 and 2017, in the opinion of management, include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the Company’s financial condition and results of operations. The results of operations for the three and six months ended June 30, 2018 and 2017 are not necessarily indicative of the results to be expected for any other interim period or for the entire year. Certain prior period amounts have been reclassified to conform to the current presentation.

Ability to continue as a Going Concern

The accompanying unaudited consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The Company has incurred losses since its inception, including a net loss of $745,220 for the six months ended June 30, 2018 and has not generated cash flows from operations. As of June 30, 2018 the Company had a working capital deficiency of $374,593, excluding related party liabilities of $663,041. As a result, these conditions, among others, raise substantial doubt regarding our ability to continue as a going concern. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of this uncertainty.

The Company is executing on a plan to achieve growth in revenues for both the Vycor Medical and NovaVision divisions as well as a reduction in costs, thereby reducing its cash operating usage. However, the Company believes it may not have sufficient cash to meet its various cash needs through August 31, 2019 unless the Company is able to obtain additional cash from the issuance of debt or equity securities. Fountainhead Capital Management Limited (“Fountainhead”), the Company’s largest shareholder, is currently providing working capital funding to the Company on an as-needed basis, although there is no guarantee that this will continue to be the case. The Company may consider seeking additional equity or debt funding, although there is no assurance that this would be available on acceptable terms or at all. If adequate funds are not available, the Company may have to delay or curtail development or commercialization of products, or cease some of its operations.

2.	SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation

The unaudited consolidated financial statements include the accounts of Vycor Medical, Inc., and its wholly-owned subsidiaries, NovaVision, Inc. (a Delaware corporation), NovaVision GmbH (a German corporation) and Sight Science Limited (a UK corporation), both wholly owned subsidiaries of NovaVision, Inc. The Company is headquartered in Boca Raton, FL. All material inter-company accounts, transactions, and profits have been eliminated in consolidation.

Recent Accounting Pronouncements

From time to time new accounting pronouncements are issued by the Financial Accounting Standards Board or other standard setting bodies that may have an impact on the Company’s accounting and reporting. The Company believes that such recently issued accounting pronouncements and other authoritative guidance for which the effective date is in the future will not have an impact on its accounting or reporting or that such impact will not be material to its financial position, results of operations and cash flows when implemented.

Net Loss Per Share

Basic net loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted net loss per share is computed giving effect to all dilutive potential common shares that were outstanding during the period. Dilutive potential common shares consist of incremental shares issuable upon exercise of stock options and warrants and conversion of preferred stock and convertible debt. Such potentially dilutive shares are excluded when the effect would be to reduce a net loss per share. No dilution adjustment has been made to the weighted average outstanding common shares in the periods presented because the assumed exercise of outstanding options and warrants and the conversion of preferred stock and debt would be anti-dilutive.

The following table sets forth the potential shares of common stock that are not included in the calculation of diluted net loss per share:

	June 30, 2018		June 30, 2017
Stock options outstanding		1,380,000		725,557
Warrants to purchase common stock		3,717,826		7,875,417
Debentures convertible into common stock		2,421,752		255,871
Preferred shares convertible into common stock		1,272,052		1,272,052
Directors Deferred Compensation Plan		615,619		364,356
Total		9,407,249		10,493,253

3.	NOTES PAYABLE

Related Parties Notes Payable

Related Party Notes Payable consists of:

	June 30, 2018		December 31, 2017
In the period the Company issued promissory notes to Fountainhead Capital Management Limited and Peter Zachariou for $163,000. The notes bear interest at 10% per annum and are payable on the earlier of one year or five days following the delivery of written demand for payment by the Payee.		163,000		-
Total Related Party Notes Payable		163,000		-

Other Notes Payable

Other Notes Payable consists of:

	June 30, 2018		December 31, 2017
On March 25, 2011 the Company issued a term note for $300,000 to EuroAmerican Investment Corp. (“EuroAmerican”). The term note bears interest at 16% per annum and was due June 25, 2011, and has been extended on a number of occasions. On the note’s most recent due date, the note was amended and extended to December 31, 2018. See further note below.		300,000		300,000
Insurance policy finance agreements.		23,080		18,393
Total Notes Payable:		323,080		318,393

On January 24, 2018 the Company entered into an amendment agreement (the “Amendment”) with EuroAmerican Investments (“EuroAmerican”) regarding its $300,000 loan note (the “Note”). Under the Amendment, the Note was extended until December 31, 2018 and the conversion terms of the Note reduced to $0.21, the same as the offering price of the 2018 Offering. Conversion of the Note and accrued interest would result in the issuance of 2,421,752 shares of Common Stock as of June 30, 2018. Notwithstanding, EuroAmerican agreed that the Note could not be converted without first offering the Company the right to redeem the Note at principal and accrued interest, and secondly Fountainhead the right to purchase the Note, which cannot be converted prior to such offer and the failure of the Company and Fountainhead to exercise such option in accordance with the amendment terms. In addition, the Company agreed to issue warrants to purchase 2,308,405 shares of Common Stock at $0.27, the same terms as the 2018 Offering, exercisable for three years from January 1, 2018, if and when the conversion option is exercised. The amendment was recognized as a modification, based on the guidance in ASC 470-50.

The Company routinely finances all their insurance policies through a third party finance company which requires a down payment and subsequent monthly payments, the time periods vary from 10 months to 12 equal monthly payments.

4.	SEGMENT REPORTING, GEOGRAPHICAL INFORMATION

(a) Business segments

The Company operates in two business segments: Vycor Medical, which focuses on devices for neurosurgery; and NovaVision, which focuses on neuro stimulation therapies and diagnostic devices for the treatment and screening of vision field loss and which includes Sight Science. Set out below are the revenues, gross profits and total assets for each segment.

	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Revenue:
Vycor Medical	$	253,292	$	252,324	$	531,103	$	622,210
NovaVision	$	48,373	$	55,360	$	95,663	$	113,873
	$	301,665	$	307,684	$	626,766	$	736,083
Gross Profit
Vycor Medical	$	209,998	$	218,257	$	463,567	$	546,853
NovaVision	$	44,680	$	49,982	$	86,869	$	101,809
	$	254,678	$	268,239	$	550,436	$	648,662

	June 30, 2018		December 31, 2017
Total Assets:
Vycor Medical	$	845,267	$	977,145
NovaVision		424,552		472,312
Total Assets	$	1,269,819	$	1,449,457

(b) Geographic information

The Company operates in two geographic segments, the United States and Europe. Set out below are the revenues, gross profits and total assets for each segment.

	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Revenue:
United States	$	276,952	$	279,908	$	577,123	$	680,979
Europe	$	24,713	$	27,776	$	49,643	$	55,104
	$	301,665	$	307,684	$	626,766	$	736,083
Gross Profit
United States	$	233,603	$	242,912	$	507,184	$	598,612
Europe	$	21,075	$	25,327	$	43,252	$	50,050
	$	254,678	$	268,239	$	550,436	$	648,662

	June 30, 2018		December 31, 2017
Total Assets:
United States	$	1,092,286	$	1,263,197
Europe		177,533		186,260
Total Assets	$	1,269,819	$	1,449,457

5.	EQUITY

Common Stock and Stock Grants

During January to June 2018, the Company granted 105,092 shares of Common Stock (valued at $42,000) to non-employee Directors. Under the terms of the Directors Deferred Compensation Plan, the receipt of these shares is deferred until the January 15^th following the termination of their services as a director. As of June 30, 2018 these shares have yet to be issued.

During January to June 2018, the Company issued 1,281,124 shares of Common Stock to Fountainhead for fees of $450,000 of which $225,000 was accrued at December 31, 2017 in accordance with the terms of a Consulting Agreement.

On April 20, 2018, the Company issued an aggregate of 1,113,936 shares of Company Common Stock on the cashless exercise of an aggregate of Warrants to purchase 3,111,560 shares of Common Stock

Warrants and Options

The details of the outstanding warrants and options are as follows:

STOCK WARRANTS:

				Weighted average
	Number of shares			exercise price per share
Outstanding at December 31, 2017		6,929,386		$	0.31
Granted		-			-
Exercised		(3,111,560	)		0.28
Cancelled or expired		(100,000	)		2.56
Outstanding at June 30, 2018		3,717,826		$	0.27

STOCK OPTIONS:

				Weighted average
	Number of shares			exercise price per share
Outstanding at December 31, 2017		725,557		$	0.95
Granted		680,000			0.28
Exercised		-			-
Cancelled or expired		(25,557	)		5.97
Outstanding at June 30, 2018		1,380,000		$	0.53

In March 2017 options to purchase 660,000 shares of Common Stock were granted to Fountainhead under the terms of a Consulting Agreement, subject to performance vesting milestones; these milestones were achieved and the options fully vested on June 30, 2018. In March 2018 options to purchase 660,000 shares of Common Stock were granted to Fountainhead under the terms of the Consulting Agreement. These options will vest on April 1, 2019 subject to the achievement of certain milestones by March 31, 2019. These options are not included in the above table until such a time as they vest.

As of June 30, 2018, the weighted-average remaining contractual life of outstanding warrants and options is 1.62 and 1.86 years, respectively.

6.	SHARE-BASED COMPENSATION

Stock Option Plan

Under ASC Topic 718, the Company estimates the fair value of option awards on the date of grant using an option pricing model. The grant date fair value is recognized over the option-vesting period, the period during which an employee is required to provide service in exchange for the award. No compensation cost is recognized for equity instruments for which employees do not render the requisite service. Under these standards, compensation cost for employee cost for employee stock-based awards is based on the estimated grant-date fair value and recognized over the vesting period of the applicable award on a straight-line basis.

For the six months ended June 30, 2018 and 2017, the Company recognized share-based compensation of $4,871 and $1,609, respectively, for employee stock options.

Stock appreciation rights may be granted either on a stand-alone basis or in conjunction with all or part of any other stock options granted under the plan. As of June 30, 2018 there were no awards of any stock appreciation rights.

Non-Employee Stock Compensation

The Company from time to time issues common stock, stock options or common stock warrants to acquire services or goods from non-employees. Common stock, stock options and common stock warrants issued to other than employees or directors are recorded on the basis of their fair value, which is measured as of the “measurement date” using an option pricing model. The “measurement date” for options and warrants related to contracts that have substantial disincentives to non-performance is the date of the contract, and for all other contracts is the vesting date. Expense related to the options and warrants is recognized on a straight-line basis over the shorter of the period over which services are to be received or the life of the option or warrant.

Aggregate stock-based compensation for stock and warrants granted to non-employees for the six months ended June 30, 2018 and 2017 was $353,800 and $278,759. The expense related to stock not issued during the periods ended June 30, 2018 and 2017 comprise: $42,000, respectively for both periods, related to stock granted but not issued to directors under the Directors Deferred Compensation Plan; and $86,754 related to the issuance of 660,000 options in the six months ended June 30^,2018 discussed below. As of June 30, 2018, there was $0 of total unrecognized compensation costs related to warrant and stock awards and non-vested options.

During the six months ended June 30, 2018 and 2017, options with a value of $216,582 and $86,754, respectively, were granted to Fountainhead with performance vesting conditions, (see Note 8). The performance conditions of the options granted during 2017 have now been met and these options became fully vested in June 2018. The value of the 2018 options will not be recognized as share-based compensation unless or until the Company concludes that it is probable the performance conditions will be achieved.

Stock-based Compensation Valuation Methodology

Stock-based compensation resulting from the issuance of Common Stock is calculated by reference to the valuation of the Stock on the date of issuance, the expense being recognized as the compensation is earned. Stock-based compensation expenses related to employee options and warrants granted to non-employees are recognized as the stock options and warrants are earned. The fair value of the stock options or warrants granted is estimated at the grant date, using the Black-Scholes option pricing model, and the expense is recognized on a straight-line basis over the shorter of the period over which services are to be received or the life of the option or warrant. The grant date fair value of employee share options and similar instruments is estimated using the Black-Scholes option pricing model on the basis of the fair value of the underlying common stock on the measurement date, adjusted for the unique characteristics of those equity instruments, using the assumptions noted in the table below. Expected volatility is based on the historical volatility of a peer group of publicly traded companies. The expected term of options and warrants was based upon the expected life of the option or warrant, and the risk-free rate is based on the U.S. Treasury Constant Maturity rate.

The following assumptions were used in calculations of the Black-Scholes option pricing model for the six months ended June 30, 2018 and 2017:

	Six Months Ended June 30,
	2018			2017
Risk-free interest rates		1.72-2.41	%		1.5	%
Expected life		1.5-4 years			1.5 years
Expected dividends		0	%		0	%
Expected volatility		102-107	%		104	%
Vycor Common Stock fair value	$	0.20-0.49		$	0.20

7.	COMMITMENTS AND CONTINGENCIES

Lease

The Company leases office space located at 951 Broken Sound Parkway, Suite 320, Boca Raton, FL 33487 from WPT Land 2 L.P., for a gross rent of approximately $5,700 plus sales tax per month. The lease terminates September 30, 2020. The Company’s subsidiary in Germany occupies premises on a short-term lease agreement. Rent expense for the six months ended June 30, 2018 and 2017 was $49,979 and $100,978 respectively.

Potential German tax liability

In June 2012 the Company’s German subsidiary received a preliminary assessment for Magdeburg City trade tax of approximately €75,000 (approximately $85,000). This assessment is for the 2010 fiscal year and relates to the Company’s acquisition of the assets of the former NovaVision, Inc. An initial assessment for corporate tax for the same period has been preliminarily reduced to zero. The Company has not accepted this trade tax assessment and is in discussion with the relevant tax authorities with a view to its reduction. The tax authorities have agreed to suspend the assessment pending the outcome of certain court hearings, and the Company has agreed to make limited monthly payments on account which were completed in October 2016. To the extent that this assessment (either a higher or a reduced amount) is ultimately confirmed by the tax authorities, the Company believes it has a very strong claim against certain professional advisors which would offset the liability in full. Accordingly, the Company has made no provision for this liability in the six months ended June 30, 2018 and the year ended December 31, 2017 respectively.

8.	CONSULTING AND OTHER AGREEMENTS

The following agreements were entered into or remained in force during the period ended June 30, 2018:

Consulting Agreement with Fountainhead

In March 2017 and effective April 1, 2017, the Company amended the Fountainhead Consulting Agreement (“the Amendment”). Under the Amendment, fees of $450,000 are payable to Fountainhead, with an option to receive $5,000 per month in cash and the remainder payable in Company Common Stock issued at the higher of the Private Placement price ($0.21) and the average price for the 30 days prior to issuance, and deliverable at the end of each fiscal quarter. The Consulting Agreement also contains provisions for Fountainhead to receive a higher proportion of its fees in cash subject to certain future liquidity events and Board approval. Under the Amendment, Fountainhead was granted options pursuant to the Vycor Medical, Inc. 2008 Stock Option Plan, to purchase 660,000 shares of Company Common Stock at the same $0.27 exercise price as that of the warrants issued in the Private Placement. Vesting of these options was subject to the achievement of certain milestones; these milestones were achieved and the options fully vested on June 30, 2018.

In March 2018 Fountainhead was granted options pursuant to the Vycor Medical, Inc. 2018 Stock Option Plan, to purchase 660,000 shares of Company Common Stock at an exercise price of $0.46 (the average closing price for the 5 trading days before the grant). Vesting of these options is subject to the achievement of certain milestones by March 31, 2019.

During the six months ended June 30, 2018, under the terms of this amended Consulting Agreement, Fountainhead received total fees of $225,000, which were paid through the issuance of 575,284 shares of Company Common Stock. Also under the terms of the consulting agreement Fountainhead was issued $225,000 in fees accrued as at December 31, 2017 through the issuance of 705,841 shares of Company Common Stock.

9.	RELATED PARTY TRANSACTIONS

Peter Zachariou, and David Cantor, directors of the Company, are investment managers of Fountainhead which owned, at June 30, 2018, 51% of the Company’s Common Stock and 70% of the Company’s Preferred D Stock. Adrian Liddell, Chairman, is a consultant for Fountainhead.

As referred to in Note 3, on January 24, 2018 the Company entered into the Amendment with EuroAmerican. regarding its $300,000 Note. Under the Amendment, EuroAmerican granted a right of first refusal prior to converting or selling or the Note a) first to Vycor to redeem the Note and accrued interest at face value and b) if not exercised second to Fountainhead to purchase the Note and accrued interest at face value on the same terms.

In March 2017 Fountainhead was granted options pursuant to the Vycor Medical, Inc. 2008 Stock Option Plan, to purchase 660,000 shares of Company Common Stock at an exercise price of $0.27, subject to performance vesting conditions. These options became fully vested in June 2018 following the achievement of the milestones.

During the six months ended June 30, 2018, under the terms of the Consulting Agreement referred to in note 8, the Company issued 1,281,124 shares of Common Stock to Fountainhead for fees of $450,000 of which $225,000 was accrued at December 31, 2017.

During the six months ended June 30, 2018, the Company accrued an aggregate of $162,185 of Preferred D Stock dividends, of which an aggregate of $154,712 Preferred D Stock dividends were in respect of related parties.

During the six months ended June 30, 2018 the Company issued unsecured loan notes to Fountainhead for a total of $133,000. The loan notes bear interest at a rate of 10% and are due on demand or by their one-year anniversary.

During the period ended June 30, 2018, the Company issued unsecured loan notes to Peter Zachariou for a total of $30,000. The loan notes bear interest at a rate of 10% and are due on demand or by their one-year anniversary.

10.

CONCENTRATION

Vycor sells its neurosurgical devices in the US primarily direct to hospitals, and internationally through distributors who in turn sell to hospitals. The sales to one international distributor represented 30% and 0%, respectively, of total sales for the three months ended June 30, 2018 and 2017. The sales to one international distributor represented 14% and 10%, respectively, of total sales for the six months ended June 30, 2018 and 2017. The accounts receivable from one international distributor represented 26% of total accounts receivable at June 30, 2018 and the accounts receivable from two distributors represented 12% and 16% of total accounts receivable at December 31, 2017 respectively.

11.

SUBSEQUENT EVENTS

The Company has evaluated the existence of events and transactions subsequent to the balance sheet date through the date the consolidated financial statements were issued and has determined that there were no significant subsequent events or transactions which would require recognition or disclosure in the financial statements.

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

Forward Looking Statements

This Interim Report on Form 10-Q contains, in addition to historical information, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (“PLSRA”), Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) regarding Vycor Medical, Inc. (the “Company” or “Vycor,” also referred to as “us”, “we” or “our”). Forward-looking statements give our current expectations or forecasts of future events. You can identify these statements by the fact that they do not relate strictly to historical or current facts. Forward-looking statements involve risks and uncertainties. Forward-looking statements include statements regarding, among other things, (a) our projected sales, profitability, and cash flows, (b) our growth strategies, (c) anticipated trends in our industries, (d) our future financing plans and (e) our anticipated needs for working capital. They are generally identifiable by use of the words “may,” “will,” “should,” “anticipate,” “estimate,” “plans,” “potential,” “projects,” “continuing,” “ongoing,” “expects,” “management believes,” “we believe,” “we intend” or the negative of these words or other variations on these words or comparable terminology. These statements may be found under “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Description of Business,” as well as in this Form 10-Q generally. In particular, these include statements relating to future actions, prospective products or product approvals, future performance or results of current and anticipated products, sales efforts, expenses, the outcome of contingencies such as legal proceedings, and financial results.

Any or all of our forward-looking statements in this report may turn out to be inaccurate. They can be affected by inaccurate assumptions we might make or by known or unknown risks or uncertainties. Consequently, no forward-looking statement can be guaranteed. Actual future results may vary materially as a result of various factors, including, without limitation, the risks outlined under “Risk Factors” and matters described in this Form 10-Q generally. In light of these risks and uncertainties, there can be no assurance that the forward-looking statements contained in this filing will in fact occur. You should not place undue reliance on these forward-looking statements. The forward-looking statements speak only as of the date on which they are made, and, except to the extent required by federal securities laws, we undertake no obligation to publicly update any forward-looking statements, whether as the result of new information, future events, or otherwise. We intend that all forward-looking statements be subject to the safe harbor provisions of the PSLRA.

1. Organizational History

The Company was formed as a limited liability company under the laws of the State of New York on June 17, 2005 as “Vycor Medical LLC”. On August 14, 2007, we converted into a Delaware corporation and changed our name to “Vycor Medical, Inc.”. The Company’s listing went effective on February 2009 and on November 29, 2010 Vycor completed the acquisition of substantially all of the assets of NovaVision, Inc. (“NovaVision”) and on January 4, 2012 Vycor, through its wholly-owned NovaVision subsidiary, completed the acquisition of all the shares of Sight Science Limited (“Sight Science”).

2. Overview of Business

Vycor is dedicated to providing the medical community with innovative and superior surgical and therapeutic solutions and operates two distinct business units within the medical device industry. Vycor Medical designs, develops and markets medical devices for use in neurosurgery. NovaVision provides non-invasive rehabilitation therapies for those who have vision disorders resulting from neurological brain damage such as that caused by a stroke. Both businesses adopt a minimally or non-invasive approach. Both technologies have strong sales growth potential, address large potential markets and have the requisite regulatory approvals. The Company has 68 issued or allowed patents and a further 7 pending. The Company leverages joint resources across the divisions to operate in a cost-efficient manner.

The Company periodically engages in discussions with potential strategic partners for or purchasers of each or both of our operating divisions.

Vycor Medical

Vycor Medical designs, develops and markets medical devices for use in neurosurgery. Vycor Medical’s ViewSite Brain Access System (“VBAS”) is a next generation retraction and access system that was fully commercialized in early 2010 and is the first significant technological change to brain tissue retraction in over 50 years in contrast to significant development in most other neuro-surgical technologies. Vycor Medical is ISO 13485:2003 compliant, and VBAS has U.S. FDA 510(k) clearance and CE Marking for Europe (Class III) for brain and spine surgeries, and regulatory approvals in Australia, Brazil, Canada, China, Korea, Japan, Russia and Taiwan. Vycor has 23 granted and 6 pending patents worldwide.

NovaVision

NovaVision provides non-invasive, computer-based rehabilitation targeted at a substantial and largely un-addressed market of people who have lost their sight as a result of stroke or other brain injury.

Our Growth Strategy

Vycor Medical

Vycor Medical’s growth strategy includes:

1. Increasing U.S. market penetration through broader hospital coverage and targeted direct physician marketing. Vycor Medical’s sales and marketing strategy is to penetrate a well-defined US target market of 4,500 neurosurgeons. Vycor markets direct to surgeons as well as marketing and distributing through independent distributors, with a focus both on adding new hospitals and expanding to additional surgeons in hospitals where VBAS is already approved, and to expand usage to a broader range of procedures. Vycor is pursuing a policy of continually evaluating and upgrading its distributors as well as adding additional distributors in regions where it has little to no presence.

2. Provision of more Clinical and Scientific Data supporting the products superiority over the current standard-of-care blade retractors and to demonstrate VBAS’ potential for cost savings. Clinical and scientific data (in the form of peer reviewed articles, clinical studies and other reports and case studies) are critical in driving adoption, and in turn revenues, further and faster by demonstrating VBAS’ superiority as a minimally invasive access system that helps VBAS move further up the hospital cost/benefit curve. To date the Company has already had 13 Peer Reviewed studies and 7 other clinical papers published or presented.

3. International Market Growth

Vycor Medical utilizes select medical device distributors with experience in neurosurgical devices in their countries or regions. VBAS has regulatory approvals in Australia, Brazil, Canada, China, Europe (EU – Class III), Korea, Mexico, Japan, Russia and Taiwan. Vycor Medical is actively pursuing new distribution agreements in the countries where it does not have any market presence.

4. New Product Development

Vycor is modifying its existing VBAS product suite to make it easier to integrate with Image Guidance Systems (IGS) by re-engineering its VBAS product range so that the entire range of 12 devices, excluding the VBASmini, will be able to more easily accommodate pointers from the leading IGS system providers. The first phase of this was completed in September 2017 and the final phase will be completed during 2018 and then subject to regulatory approval in the US and internationally. Increasingly, all major neuro centers have image guidance systems, and where this is in place management believes over 90% of surgeries are carried out using IGS; management believes that the existing VBAS rigid structure lends itself well to being incorporated into this increasing trend.

NovaVision

While speech, physical, and occupational therapies are the long-standing treatment standards for stroke and brain injury survivors, vision has been largely unaddressed. Increasingly the healthcare community, partly driven by strong lobbying by stroke associations worldwide, are recognizing that vision is not only a significant issue post stroke or brain injury, but that visual field loss can have a significant impact on the success of other rehabilitation modalities and the patient’s quality of life. VRT is the first and only FDA-cleared clinical-supported vision restoration therapy that can physically enhance the visual field after a stroke or brain injury.

NovaVision is now able to provide a clinically supported, cost-effective and scalable visual therapy solutions offering broad benefits to patients suffering from visual impairments following neurological brain damage; and a highly flexible range of products and licensing options for medical professionals.

NovaVisions’s potential customers often tend to have other medical issues associated with their neurological condition making this a hard target universe. Rehabilitation therapies of this type are a time and effort commitment for patients, who therefore need to be in a condition to carry them out and to be motivated to rehabilitate their vision disorder. The market is also very diverse; stroke patients pass through the rehabilitation system in the first weeks after stroke, and unless they are acute patients are then sent home for recovery. At this point they may see physiotherapists, occupational therapists, eye-care professionals and other physicians, as well as stroke support groups. NovaVision’s challenge has been to continue to drive awareness amongst patients understanding that they are subject to a diverse range of other influencers.

NovaVision, taking the aforementioned issue into consideration, has chosen to target four routes-to-market aimed at patients and professionals, comprising: direct-to-patient; optometrists and other eye-care professionals, rehabilitation centers and clinics; stroke associations and support groups; and other physicians. NovaVision has initially focused on direct-to-patient, with a website lead-driven inbound and outbound marketing strategy targeted at prospective patients and relatives. Given the company’s resources, size and diversity of the professional market, NovaVision believes the best route to market here is by partnering with entities who already have the capability of delivery to the various professional target markets. NovaVision is identifying and is in dialogue with such qualified entities; the range of alternatives could comprise distribution partnerships, merger, sale and/or restructuring of its activities.

Comparison of the Three Months Ended June 30, 2018 to the Three Months Ended June 30, 2017

Revenue and Gross Margin:

	Three months ended
	June 30,
	2018		2017		% Change
Revenue:
Vycor Medical	$	253,292	$	252,324		0	%
NovaVision	$	48,373	$	55,360		-13	%
	$	301,665	$	307,684		-2	%
Gross Profit
Vycor Medical	$	209,998	$	218,257		-4	%
NovaVision	$	44,680	$	49,982		-11	%
	$	254,678	$	268,239		-5	%

Vycor Medical recorded revenue of $253,292 from the sale of its products for the three months ended June 30, 2018, an increase of $968 over the same period in 2017.. Gross margin of 83% was recorded for the three months ended June 30, 2018 compared to 86% for the same period in 2017. Gross margin is affected by the revenue mix and also by inventory validation charges as a result of the ongoing inventory build program.

NovaVision recorded revenues of $48,373 for the three months ended June 30, 2018, a decrease of $6,987 over the same period in 2017, and gross margin of 92%, compared to 90% for the same period in 2017.

Selling, General and Administrative Expenses:

Selling, general and administrative expenses increased by $64,132 to $616,997 for the three months ended June 30, 2018 from $552,865 for the same period in 2017. Included within Selling, General and Administrative Expenses are non-cash charges for share based compensation as the result of amortizing employee and non-employee shares, warrants and options which have been issued by the Company over various periods. The charge for the three months ended June 30, 2018 was $220,254, an increase of $83,433 over $136,821 in 2017. Also included within Selling, General and Administrative Expenses are Sales Commissions, which decreased by $11,042 from $48,050 to $37,008 in 2018. The remaining Selling, General and Administrative expenses decreased by $8,259 from $367,987 to $359,728 in 2018.

An analysis of the change in cash and non-cash G&A is shown in the table below:

	Cash G&A			Non-Cash G&A
Payroll		11,291			-
Sales, marketing and travel		6,357			-
Other (travel/regulatory/premises)		(1,092	)		-
Legal, professional and other consulting		(5,991	)		-
Commissions		(11,042	)
Board, financial and scientific advisory		(18,824	)		83,433
Total change		(19,301	)		83,433

Interest Expense:

Interest comprises expense on the Company’s debt and insurance policy financing. Related Party Interest expense for the three months ended June 30, 2018 was $646 compared to $0 for 2017. Other Interest income and expense for 2018 increased by $3,389 to $12,198 from $8,809 for 2017.

Comparison of the Six Months Ended June 30, 2018 to the Six Months Ended June 30, 2017

Revenue and Gross Margin:

	Six months ended
	June 30,
	2018		2017		% Change
Revenue:
Vycor Medical	$	531,103	$	622,210		-15	%
NovaVision	$	95,663	$	113,873		-16	%
	$	626,766	$	736,083		-15	%
Gross Profit
Vycor Medical	$	463,567	$	546,853		-15	%
NovaVision	$	86,869	$	101,809		-15	%
	$	550,436	$	648,662		-15	%

Vycor Medical recorded revenue of $531,103 from the sale of its products for the six months ended June 30, 2018, a decrease of $91,107, or 15%, over the same period in 2017. . Following the release of the enhanced VBAS model at the end of September 2017, Vycor took the decision in February 2018, based on surgeon feedback, to accelerate the roll-out of the enhanced model and cease shipment of the previous model. As a result, manufacturing of the enhanced model needed to be accelerated and this caused some delays and lost revenue. Vycor also experienced a decline in sales from two US distributors which it is working on to improve. Gross margin of 87% was recorded for the six months ended June 30, 2018 compared to 88% for the same period in 2017.

NovaVision recorded revenues of $95,663 for the six months ended June 30, 2018, an decrease of $18,210 over the same period in 2016, and gross margin of 91%, compared to 89% for the same period in 2017.

Selling, General and Administrative Expenses:

Selling, general and administrative expenses increased by $21,667 to $1,185,302 for the six months ended June 30, 2018 from $1,163,635 for the same period in 2017. Included within Selling, General and Administrative Expenses are non-cash charges for share based compensation as the result of amortizing employee and non-employee shares, warrants and options which have been issued by the Company over various periods. The charge for the six months ended June 30, 2018 was $358,625 an increase of $78,257 over $280,368 in 2017. Also included within General and Administrative Expenses are Sales Commissions, which decreased by $33,027 to $85,959. The remaining General and Administrative expenses decreased by $23,563 from $764,281 to $740,718.

An analysis of the change in cash and non-cash G&A is shown in the table below:

	Cash G&A			Non-Cash G&A
Payroll		16,021			3,262
Sales, marketing and travel		6,839			-
Legal, professional and other consulting		4,226			-
Board, financial and scientific advisory		(15,341	)		74,995
Commissions		(33,027	)
Other (travel/regulatory/premises)		(35,308	)		-
Total change		(56,590	)		78,257

Interest Expense:

Interest comprises expense on the Company’s debt and insurance policy financing. Related Party Interest expense for the six months ended June 30, 2018 was $646 compared to $679 for 2017. Other Interest expense for 2018 increased by $3,372 to $24,225 from $20,853 for 2017.

Liquidity and Capital Resources

Liquidity

The following table shows cash flow and liquidity data for the periods ended June 30, 2018 and December 31, 2017:

	June 30, 2018			December 31, 2017			$ Change
Cash	$	76,733		$	206,213		$	(129,480	)
Accounts receivable, inventory and other current assets	$	395,285		$	402,295		$	(7,010	)
Total current liabilities	$	(1,509,652	)	$	(1,368,015	)	$	(141,637	)
Working capital	$	(1,037,634	)	$	(759,507	)	$	(278,127	)
Cash provided by financing activities	$	167,687		$	863,851		$	(696,164	)

Operating Activities. Cash used in operating activities comprises net loss adjusted for non-cash items and the effect of changes in working capital and other activities. The net repayment of normal insurance financing should also be taken into account when considering cash used in operating activities.

The following table shows the principle components of cash used in operating activities during the six months ended June 30, 2018 and 2017, with a commentary of changes during the periods and known or anticipated future changes:

	June 30, 2018			June 30, 2017			$ Change
Net loss	$	(745,220	)	$	(673,509	)	$	(71,711	)

Adjustments to reconcile net loss to cash used in operating activities:
Amortization and depreciation of assets	$	90,068		$	146,332		$	(56,264	)
Share based compensation		358,625			197,868			160,757
Accrued share based compensation		-			82,500			(82,500	)
Other		-			4,178			(4,178	)
	$	448,693		$	430,878		$	17,815

Net loss adjusted for non-cash items	$	(296,527	)	$	(242,631	)	$	(53,896	)
Changes in working capital
Accounts receivable, accounts payable and accrued liabilities		(10,943	)		(105,846	)		94,902
Inventory		31,537			26,507			5,030
Prepaid expenses and net insurance financing repayments		6,062			10,235			(4,174	)
Accrued interest (not paid in cash)		24,449			24,483			(34	)
	$	51,105		$	(44,621	)	$	95,724

Cash used in operating activities, adjusted for net insurance repayments	$	(245,422	)	$	(287,252	)	$	41,828

The adjustments to reconcile net loss to cash of $448,693 in the period have no impact on liquidity. The increase in net loss (as adjusted for non-cash items) by $53,896 to $296,527 was primarily a result of reduced revenues. During the first quarter of 2017 a number of material and unusual items impacted the net accounts receivable, accounts payable and accrued liabilities; these were reversed in the first quarter of 2018. In addition, the Company typically renews a large number of annual expense contracts such as insurances and licenses during the first six months, which has an impact on cash usage. The Company is in the process of modifying the VBAS product suite to make it easier to integrate with IGS. The first phase of this project was completed in September 2017 and additional inventory of $18,497 was purchased during the period. The Company anticipates completing the second phase of this project during 2018 and as a result will purchase additional new inventory of approximately $135,000.

Investing Activities. Cash used in investing activities for the six months ended June 30, 2018 was $50,035, which primarily reflected expenditure on the second phase of modifying the VBAS product suite to make it easier to integrate with IGS. The Company anticipates additional expenditures for this second phase during 2018 of approximately $80,000.

Financing Activities. During and subsequent to the period ending June 30, 2018 the Company received funds of $163,000 in respect of loans from Fountainhead and Peter Zachariou (the Company’s Chief Executive Officer).

Liquidity and Plan of Operations, Ability to Continue as a Going Concern

The accompanying unaudited consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The Company has incurred losses since its inception, including a net loss of $745,220 and $673,509 for the six months ended June 30, 2018 and 2017 respectively and has not generated cash flows from operations. As of June 30, 2018 the Company had a working capital deficiency of $374,593, excluding related party liabilities of $663,041. As a result, these conditions, among others, raise substantial doubt regarding our ability to continue as a going concern. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of this uncertainty.

As described earlier in this ITEM 2 “Our Growth Strategy”, the Company is executing on a plan to achieve growth in revenues for both the Vycor Medical and NovaVision divisions as well as reduction in costs, thereby further reducing its cash operating usage. For Vycor Medical this includes in particular: increasing penetration in the US market through targeted marketing and a potential new medical education program; increased international market growth; and new product development centered around the modification of its existing VBAS product range to make it more easy to use with the most common IGS systems, the first phase of which was completed in September 2017. For NovaVision, after a prolonged and now complete period of re-development, the Company is focusing its resources on direct-to-patient marketing through a website lead-driven inbound and outbound marketing strategy. Given the company’s resources, and the size and diversity of the professional market, NovaVision believes the best route to the professional market for its products is by partnering with entities who have already established distribution channels and expertise in the various professional target markets. The Company is identifying and is in dialogue with such qualified entities; the range of alternatives for NovaVision could comprise distribution partnerships, merger, sale and/or restructuring of its activities.

However, the Company believes it may not have sufficient cash to meet its various cash needs through August 31, 2019 unless the Company is able to obtain additional cash from the issuance of debt or equity securities. Fountainhead, the Company’s largest shareholder, is currently providing working capital funding to the Company on an as-needed basis, although there is no guarantee that this will continue to be the case. The Company may consider seeking additional equity or debt funding, although there is no assurance that this would be available on acceptable terms or at all. If adequate funds are not available, the Company may have to delay or curtail development or commercialization of products, or cease some of its operations.

Critical Accounting Policies and Estimates

Uses of estimates in the preparation of financial statements

The preparation of unaudited consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the unaudited consolidated financial statements and accompanying notes. Actual results could differ from those estimated. To the extent management’s estimates prove to be incorrect, financial results for future periods may be adversely affected. Significant estimates and assumptions contained in the accompanying unaudited consolidated financial statements include management’s estimate of the allowance for uncollectible accounts receivable, amortization of intangible assets, and the fair values of options and warrant included in the determination of debt discounts and share-based compensation.

A detailed description of our significant accounting policies can be found in our most recent Annual Report on Form 10-K for the year ended December 31, 2017.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not applicable

ITEM 4. CONTROLS AND PROCEDURES

(a) Disclosure Controls and Procedures

We are required to maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our reports filed under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms, and that such information is accumulated and communicated to our management, including our chief executive officer (also our principal executive officer) and our chief financial officer (also our principal financial and accounting officer) to allow for timely decisions regarding required disclosure.

The Company’s management, including our Chief Executive Officer (“CEO”) and our Chief Financial Officer (“CFO”), have evaluated the effectiveness of our “disclosure controls and procedures” (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, or the Exchange Act), as of the end of the period covered by this report. Based on such evaluation, our CEO and our CFO have concluded that, as of the end of such period, the Company’s disclosure controls and procedures were effective as of that date to provide reasonable assurance that the information required to be disclosed by the Company in the reports it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the SEC and that information required to be disclosed by the Company in the reports its files or submits under the Exchange Act is accumulated and communicated to the Company’s management, including its CEO and its CFO, as appropriate, to allow timely decisions regarding required disclosure. There have not been any changes in the Company’s internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the fiscal quarter to which this report relates that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

(b) Changes in Internal Controls

There have not been any changes in the Company’s internal control over financial reporting (as such term is defined in Rules 13a-15(f) under the Exchange Act) during the fiscal period to which this report relates that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

The Company’s management, including the Company’s CEO and CFO, does not expect that the Company’s internal control over financial reporting will prevent all errors and all fraud. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree or compliance with the policies or procedures may deteriorate.

PART II

ITEM 1. LEGAL PROCEEDINGS

We are subject from time to time to litigation, claims and suits arising in the ordinary course of business. As of August 10, 2018, we were not a party to any material litigation, claim or suit whose outcome could have a material effect on our financial statements.

ITEM 1A. RISK FACTORS.

As a “smaller reporting company” as defined by Item 10 of Regulation S-K, the Company is not required to provide information required by this Item.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Issuance Type	Security	Shares
Fountainhead Management Fees	Common	1,281,124
Fountainhead Warrant Exercise	Common	979,283
Director Warrant Exercise	Common	57,614
Shareholder Warrant Exercise	Common	77,039

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. OTHER INFORMATION

None

Index to Exhibits

31.1	Certification of the Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2	Certification of the Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32.1	Certification of Principal Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

32.2	Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

SIGNATURES

In accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on August 10, 2018.

	Vycor Medical, Inc.
	(Registrant)

	By:	/s/ Peter C. Zachariou
		Peter C. Zachariou
		Chief Executive Officer and Director (Principal Executive Officer)

	Date	August 10, 2018

	By:	/s/ Adrian Liddell
		Adrian Liddell
		Chairman of the Board and Director
		(Principal Financial and Accounting Officer)

	Date	August 10, 2018

EX-31.1 2 ex31-1.htm

EXHIBIT 31.1

CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

(18 U.S.C. SECTION 1350)

I, Peter Zachariou, certify that:

	1.	I have reviewed this Form 10-Q for the period ended June 30, 2018 of Vycor Medical, Inc.;

	2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

	3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

	4.	The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

	a.	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

	b.	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

	c.	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	d.	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

	a.	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

	b.	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 10, 2018

/s/ Peter Zachariou
Peter C. Zachariou
Principal Executive Officer

EX-31.2 3 ex31-2.htm

EXHIBIT 31.2

CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

(18 U.S.C. SECTION 1350)

I, Adrian Liddell, certify that:

	1.	I have reviewed this Form 10-Q for the period ended June 30, 2018 of Vycor Medical, Inc.;

	2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

	3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

	4.	The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

	a.	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

	b.	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

	c.	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	d.	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

	a.	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

	b.	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 10, 2018

/s/ Adrian Liddell
Adrian Liddell
Principal Financial Officer

EX-32.1 4 ex32-1.htm

EXHIBIT 32.1

CERTIFICATIONS PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

(18 U.S.C. SECTION 1350)

Pursuant to section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of section 1350, chapter 63 of title 18, United States Code), the undersigned officer of Vycor Medical, Inc., a Delaware corporation (the “Company”), does hereby certify, to such officer’s knowledge, that:

The report on Form 10-Q for the period ended June 30, 2018 (the “Form 10-Q”) of the Company fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, and the information contained in the Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: August 10, 2018

	/s/ Peter Zachariou
	Peter Zachariou
	Principal Executive Officer

A signed original of this written statement required by Section 906 has been provided to VYCOR MEDICAL, INC. and will be retained by VYCOR MEDICAL, INC. and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.2 5 ex32-2.htm

EXHIBIT 32.2

CERTIFICATIONS PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

(18 U.S.C. SECTION 1350)

Date: August 10, 2018

	/s/ Adrian Liddell
	Adrian Liddell
	Principal Accounting Officer

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2018

Set out below are the revenues, gross profits and total assets for each segment.   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td> <td style="text-align: center"> </td> <td colspan="6" style="text-align: center">Three Months Ended June 30,</td> <td style="text-align: center"> </td> <td style="text-align: center"> </td> <td colspan="6" style="text-align: center">Six Months Ended June 30,</td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">2018</td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">2017</td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">2018</td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">2017</td> <td style="padding-bottom: 1.5pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Revenue:</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 40%; padding-left: 10pt">Vycor Medical</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 12%; text-align: right">253,292</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 12%; text-align: right">252,324</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 12%; text-align: right">531,103</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 12%; text-align: right">622,210</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">NovaVision</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">48,373</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">55,360</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">95,663</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">113,873</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">301,665</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">307,684</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">626,766</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">736,083</td> <td style="padding-bottom: 2.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Gross Profit</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt">Vycor Medical</td> <td> </td> <td>$</td> <td style="text-align: right">209,998</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">218,257</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">463,567</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">546,853</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">NovaVision</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">44,680</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">49,982</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">86,869</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">101,809</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">254,678</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">268,239</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">550,436</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">648,662</td> <td style="padding-bottom: 2.5pt"> </td></tr> </table>   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">June 30, 2018</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">December 31, 2017</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Total Assets:</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 50%; padding-left: 10pt">Vycor Medical</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 22%; text-align: right">845,267</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 22%; text-align: right">977,145</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">NovaVision</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">424,552</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">472,312</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt; padding-left: 10pt">Total Assets</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">1,269,819</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">1,449,457</td> <td style="padding-bottom: 2.5pt"> </td></tr> </table>

Set out below are the revenues, gross profits and total assets for each segment.   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td> <td style="text-align: center"> </td> <td colspan="6" style="text-align: center">Three Months Ended June 30,</td> <td style="text-align: center"> </td> <td style="text-align: center"> </td> <td colspan="6" style="text-align: center">Six Months Ended June 30,</td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">2018</td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">2017</td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">2018</td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">2017</td> <td style="padding-bottom: 1.5pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Revenue:</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 40%; padding-left: 10pt">United States</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 12%; text-align: right">276,952</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 12%; text-align: right">279,908</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 12%; text-align: right">577,123</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 12%; text-align: right">680,979</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">Europe</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">24,713</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">27,776</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">49,643</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">55,104</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">301,665</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">307,684</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">626,766</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">736,083</td> <td style="padding-bottom: 2.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Gross Profit</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt">United States</td> <td> </td> <td>$</td> <td style="text-align: right">233,603</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">242,912</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">507,184</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">598,612</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">Europe</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">21,075</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">25,327</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">43,252</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">50,050</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">254,678</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">268,239</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">550,436</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">648,662</td> <td style="padding-bottom: 2.5pt"> </td></tr> </table>   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">June 30, 2018</td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">December 31, 2017</td> <td style="padding-bottom: 1.5pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Total Assets:</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 50%; padding-left: 10pt">United States</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 22%; text-align: right">1,092,286</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 22%; text-align: right">1,263,197</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">Europe</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">177,533</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">186,260</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt; padding-left: 20pt">Total Assets</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">1,269,819</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">1,449,457</td> <td style="padding-bottom: 2.5pt"> </td></tr> </table>

0001424768

842207

86754

1269819

1449457

-239833

81442

127346

124841

-27873365

-26965960

1033

1509652

1368015

486555 549370

196985

161328

13486 12840 208568 184765

117978

141319

323972 351779

6528

9169

8104 10389 58183 81064

251157

473829

489170

472018

608508

76617

77990

182346

213883

136322

110422

2641

-4245

35657

-3542

646

680

9407249

615619

1380000

2421752

1272052

3717826

725557

7875417

255871

1272052

364356

10493253

0.16

0.10

300000

2011-06-25

2018-12-31 2018-12-31

105092

42000

572824

1281124

705841

0 101000

P1Y7M13D

P1Y10M10D

6929386

3717826

1380000

725557

660000

680000

660000

-3111560

0.31

0.27

0.46

0.53

0.95

0.27

0.28

2.56

5.97

278759

353800

4871

1609

42000 42000

0.015

0.0172

0.0241

P1Y6M

P1Y6M0D

P4Y

0.00

1.04

1.02

1.07

0.20 0.20 0.49

5700

49979

100978

75000

85000

0.21

0.27

225000

450000

133000

30000

The following assumptions were used in calculations of the Black-Scholes option pricing model for the six months ended June 30, 2018 and 2017:   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center">Six Months Ended June 30,</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">2018</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">2017</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 50%">Risk-free interest rates</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 22%; text-align: right">1.72-2.41</td> <td style="width: 1%">%</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 22%; text-align: right">1.5</td> <td style="width: 1%">%</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Expected life</td> <td> </td> <td> </td> <td style="text-align: right">1.5-4 years</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">1.5 years</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Expected dividends</td> <td> </td> <td> </td> <td style="text-align: right">0</td> <td>%</td> <td> </td> <td> </td> <td style="text-align: right">0</td> <td>%</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Expected volatility</td> <td> </td> <td> </td> <td style="text-align: right">102-107</td> <td>%</td> <td> </td> <td> </td> <td style="text-align: right">104</td> <td>%</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Vycor Common Stock fair value</td> <td> </td> <td>$</td> <td style="text-align: right">0.20-0.49</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">0.20</td> <td> </td></tr> </table>

2020-09-30

0.51

0.70

300000

0.00

0.30

0.14

0.10

0.26

0.12

-745220

-673509

-418584

-360717

2977

-5047

4687

-37735

374593

663041

323080

318393

23080

18393

300000

163000

225000 450000 0 450000 225000

Vesting of these options is subject to the achievement of certain milestones by March 31, 2019.

These options became fully vested in June 2018 following the achievement of the milestones.

P1Y

STOCK WARRANTS:   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center; line-height: 107%"> </td> <td style="text-align: center; line-height: 107%"> </td> <td colspan="2" style="text-align: center; line-height: 107%"> </td> <td style="text-align: center; line-height: 107%"> </td> <td style="text-align: center; line-height: 107%"> </td> <td colspan="2" style="text-align: center; line-height: 107%">Weighted average</td> <td style="text-align: center; line-height: 107%"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; line-height: 107%"> </td> <td style="text-align: center; line-height: 107%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 107%">Number of shares</td> <td style="text-align: center; line-height: 107%"> </td> <td style="text-align: center; line-height: 107%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 107%">exercise price per share</td> <td style="text-align: center; line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 62%; line-height: 107%">Outstanding at December 31, 2017</td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 16%; text-align: right; line-height: 107%">6,929,386</td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; line-height: 107%">$</td> <td style="width: 16%; text-align: right; line-height: 107%">0.31</td> <td style="width: 1%; line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 107%">Granted</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">-</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">-</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 107%">Exercised</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">(3,111,560</td> <td style="line-height: 107%">)</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">0.28</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 107%">Cancelled or expired</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">(100,000</td> <td style="line-height: 107%">)</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">2.56</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 107%">Outstanding at June 30, 2018</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 107%">3,717,826</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 107%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 107%">0.27</td> <td style="line-height: 107%"> </td></tr> </table>

STOCK OPTIONS:   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center; line-height: 107%"> </td> <td style="text-align: center; line-height: 107%"> </td> <td colspan="2" style="text-align: center; line-height: 107%"> </td> <td style="text-align: center; line-height: 107%"> </td> <td style="text-align: center; line-height: 107%"> </td> <td colspan="2" style="text-align: center; line-height: 107%">Weighted average</td> <td style="text-align: center; line-height: 107%"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; line-height: 107%"> </td> <td style="text-align: center; line-height: 107%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 107%">Number of shares</td> <td style="text-align: center; line-height: 107%"> </td> <td style="text-align: center; line-height: 107%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 107%">exercise price per share</td> <td style="text-align: center; line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 62%; line-height: 107%">Outstanding at December 31, 2017</td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 16%; text-align: right; line-height: 107%">725,557</td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; line-height: 107%">$</td> <td style="width: 16%; text-align: right; line-height: 107%">0.95</td> <td style="width: 1%; line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 107%">Granted</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">680,000</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">0.28</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 107%">Exercised</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">-</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">-</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 107%">Cancelled or expired</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">(25,557</td> <td style="line-height: 107%">)</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">5.97</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 107%">Outstanding at June 30, 2018</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 107%">1,380,000</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 107%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 107%">0.53</td> <td style="line-height: 107%"> </td></tr> </table>

-151

1632

-91

1982

2544 82500

248000

1281124

216582

86754

1113936

162185

154712

-2505

2959

-3667

2959

76330

87421

46987

39445

100000

25557

626766

531103

95663

577123

49643

736083

113873

680979

55104

622210

301665

307684

253292

48373

252324

55360

276952

279908

24713

27776

1185302

1163635

616997

552865

The notes bear interest at 10% per annum and are payable on the earlier of one year or five days following the delivery of written demand for payment by the Payee.

2308405

3111560

660000

300000

0.21

2421752

0.27

P3Y 22217049

27504960

26921574

626766

736083

301665

307684

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 24px; font: 12pt Times New Roman, Times, Serif">4.</td> <td style="font: 12pt Times New Roman, Times, Serif">SEGMENT REPORTING, GEOGRAPHICAL INFORMATION </td></tr> </table>   (a) Business segments   The Company operates in two business segments: Vycor Medical, which focuses on devices for neurosurgery; and NovaVision, which focuses on neuro stimulation therapies and diagnostic devices for the treatment and screening of vision field loss and which includes Sight Science. Set out below are the revenues, gross profits and total assets for each segment.   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td> <td style="text-align: center"> </td> <td colspan="6" style="text-align: center">Three Months Ended June 30,</td> <td style="text-align: center"> </td> <td style="text-align: center"> </td> <td colspan="6" style="text-align: center">Six Months Ended June 30,</td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">2018</td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">2017</td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">2018</td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">2017</td> <td style="padding-bottom: 1.5pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Revenue:</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 40%; padding-left: 10pt">Vycor Medical</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 12%; text-align: right">253,292</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 12%; text-align: right">252,324</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 12%; text-align: right">531,103</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 12%; text-align: right">622,210</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">NovaVision</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">48,373</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">55,360</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">95,663</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">113,873</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">301,665</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">307,684</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">626,766</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">736,083</td> <td style="padding-bottom: 2.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Gross Profit</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt">Vycor Medical</td> <td> </td> <td>$</td> <td style="text-align: right">209,998</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">218,257</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">463,567</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">546,853</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">NovaVision</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">44,680</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">49,982</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">86,869</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">101,809</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">254,678</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">268,239</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">550,436</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">648,662</td> <td style="padding-bottom: 2.5pt"> </td></tr> </table>   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">June 30, 2018</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">December 31, 2017</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Total Assets:</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 50%; padding-left: 10pt">Vycor Medical</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 22%; text-align: right">845,267</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 22%; text-align: right">977,145</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">NovaVision</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">424,552</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">472,312</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt; padding-left: 10pt">Total Assets</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">1,269,819</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">1,449,457</td> <td style="padding-bottom: 2.5pt"> </td></tr> </table>   (b) Geographic information   The Company operates in two geographic segments, the United States and Europe. Set out below are the revenues, gross profits and total assets for each segment.   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td> <td style="text-align: center"> </td> <td colspan="6" style="text-align: center">Three Months Ended June 30,</td> <td style="text-align: center"> </td> <td style="text-align: center"> </td> <td colspan="6" style="text-align: center">Six Months Ended June 30,</td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">2018</td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">2017</td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">2018</td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">2017</td> <td style="padding-bottom: 1.5pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Revenue:</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 40%; padding-left: 10pt">United States</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 12%; text-align: right">276,952</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 12%; text-align: right">279,908</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 12%; text-align: right">577,123</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 12%; text-align: right">680,979</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">Europe</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">24,713</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">27,776</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">49,643</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">55,104</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">301,665</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">307,684</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">626,766</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">736,083</td> <td style="padding-bottom: 2.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Gross Profit</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt">United States</td> <td> </td> <td>$</td> <td style="text-align: right">233,603</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">242,912</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">507,184</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">598,612</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">Europe</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">21,075</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">25,327</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">43,252</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right">50,050</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">254,678</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">268,239</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">550,436</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">648,662</td> <td style="padding-bottom: 2.5pt"> </td></tr> </table>   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">June 30, 2018</td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">December 31, 2017</td> <td style="padding-bottom: 1.5pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Total Assets:</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 50%; padding-left: 10pt">United States</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 22%; text-align: right">1,092,286</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 22%; text-align: right">1,263,197</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">Europe</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">177,533</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">186,260</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt; padding-left: 20pt">Total Assets</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">1,269,819</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">1,449,457</td> <td style="padding-bottom: 2.5pt"> </td></tr> </table>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 24px; font: 11pt/107% Calibri, Helvetica, Sans-Serif">5.</td> <td style="font: 11pt/107% Calibri, Helvetica, Sans-Serif">EQUITY </td></tr> </table>   Common Stock and Stock Grants   During January to June 2018, the Company granted 105,092 shares of Common Stock (valued at $42,000) to non-employee Directors. Under the terms of the Directors Deferred Compensation Plan, the receipt of these shares is deferred until the January 15th following the termination of their services as a director. As of June 30, 2018 these shares have yet to be issued.   During January to June 2018, the Company issued 1,281,124 shares of Common Stock to Fountainhead for fees of $450,000 of which $225,000 was accrued at December 31, 2017 in accordance with the terms of a Consulting Agreement.   On April 20, 2018, the Company issued an aggregate of 1,113,936 shares of Company Common Stock on the cashless exercise of an aggregate of Warrants to purchase 3,111,560 shares of Common Stock   Warrants and Options   The details of the outstanding warrants and options are as follows:   STOCK WARRANTS:   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center; line-height: 107%"> </td> <td style="text-align: center; line-height: 107%"> </td> <td colspan="2" style="text-align: center; line-height: 107%"> </td> <td style="text-align: center; line-height: 107%"> </td> <td style="text-align: center; line-height: 107%"> </td> <td colspan="2" style="text-align: center; line-height: 107%">Weighted average</td> <td style="text-align: center; line-height: 107%"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; line-height: 107%"> </td> <td style="text-align: center; line-height: 107%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 107%">Number of shares</td> <td style="text-align: center; line-height: 107%"> </td> <td style="text-align: center; line-height: 107%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 107%">exercise price per share</td> <td style="text-align: center; line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 62%; line-height: 107%">Outstanding at December 31, 2017</td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 16%; text-align: right; line-height: 107%">6,929,386</td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; line-height: 107%">$</td> <td style="width: 16%; text-align: right; line-height: 107%">0.31</td> <td style="width: 1%; line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 107%">Granted</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">-</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">-</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 107%">Exercised</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">(3,111,560</td> <td style="line-height: 107%">)</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">0.28</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 107%">Cancelled or expired</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">(100,000</td> <td style="line-height: 107%">)</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">2.56</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 107%">Outstanding at June 30, 2018</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 107%">3,717,826</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 107%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 107%">0.27</td> <td style="line-height: 107%"> </td></tr> </table>   STOCK OPTIONS:   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center; line-height: 107%"> </td> <td style="text-align: center; line-height: 107%"> </td> <td colspan="2" style="text-align: center; line-height: 107%"> </td> <td style="text-align: center; line-height: 107%"> </td> <td style="text-align: center; line-height: 107%"> </td> <td colspan="2" style="text-align: center; line-height: 107%">Weighted average</td> <td style="text-align: center; line-height: 107%"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; line-height: 107%"> </td> <td style="text-align: center; line-height: 107%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 107%">Number of shares</td> <td style="text-align: center; line-height: 107%"> </td> <td style="text-align: center; line-height: 107%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 107%">exercise price per share</td> <td style="text-align: center; line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 62%; line-height: 107%">Outstanding at December 31, 2017</td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 16%; text-align: right; line-height: 107%">725,557</td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; line-height: 107%">$</td> <td style="width: 16%; text-align: right; line-height: 107%">0.95</td> <td style="width: 1%; line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 107%">Granted</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">680,000</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">0.28</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 107%">Exercised</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">-</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">-</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 107%">Cancelled or expired</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">(25,557</td> <td style="line-height: 107%">)</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">5.97</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 107%">Outstanding at June 30, 2018</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 107%">1,380,000</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 107%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 107%">0.53</td> <td style="line-height: 107%"> </td></tr> </table>   In March 2017 options to purchase 660,000 shares of Common Stock were granted to Fountainhead under the terms of a Consulting Agreement, subject to performance vesting milestones; these milestones were achieved and the options fully vested on June 30, 2018. In March 2018 options to purchase 660,000 shares of Common Stock were granted to Fountainhead under the terms of the Consulting Agreement. These options will vest on April 1, 2019 subject to the achievement of certain milestones by March 31, 2019. These options are not included in the above table until such a time as they vest.   As of June 30, 2018, the weighted-average remaining contractual life of outstanding warrants and options is 1.62 and 1.86 years, respectively.

Principles of Consolidation   The unaudited consolidated financial statements include the accounts of Vycor Medical, Inc., and its wholly-owned subsidiaries, NovaVision, Inc. (a Delaware corporation), NovaVision GmbH (a German corporation) and Sight Science Limited (a UK corporation), both wholly owned subsidiaries of NovaVision, Inc. The Company is headquartered in Boca Raton, FL. All material inter-company accounts, transactions, and profits have been eliminated in consolidation.

Recent Accounting Pronouncements   From time to time new accounting pronouncements are issued by the Financial Accounting Standards Board or other standard setting bodies that may have an impact on the Company’s accounting and reporting. The Company believes that such recently issued accounting pronouncements and other authoritative guidance for which the effective date is in the future will not have an impact on its accounting or reporting or that such impact will not be material to its financial position, results of operations and cash flows when implemented.

Net Loss Per Share   Basic net loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted net loss per share is computed giving effect to all dilutive potential common shares that were outstanding during the period. Dilutive potential common shares consist of incremental shares issuable upon exercise of stock options and warrants and conversion of preferred stock and convertible debt. Such potentially dilutive shares are excluded when the effect would be to reduce a net loss per share. No dilution adjustment has been made to the weighted average outstanding common shares in the periods presented because the assumed exercise of outstanding options and warrants and the conversion of preferred stock and debt would be anti-dilutive.   The following table sets forth the potential shares of common stock that are not included in the calculation of diluted net loss per share:   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center; line-height: 107%"> </td> <td style="text-align: center; line-height: 107%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 107%">June 30, 2018</td> <td style="text-align: center; line-height: 107%"> </td> <td style="text-align: center; line-height: 107%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 107%">June 30, 2017</td> <td style="text-align: center; line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 62%; line-height: 107%">Stock options outstanding</td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 16%; text-align: right; line-height: 107%">1,380,000</td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 16%; text-align: right; line-height: 107%">725,557</td> <td style="width: 1%; line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 107%">Warrants to purchase common stock</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">3,717,826</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">7,875,417</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 107%">Debentures convertible into common stock</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">2,421,752</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">255,871</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 107%">Preferred shares convertible into common stock</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">1,272,052</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">1,272,052</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 107%">Directors Deferred Compensation Plan</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">615,619</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">364,356</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; line-height: 107%">Total</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">9,407,249</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">10,493,253</td> <td style="line-height: 107%"> </td></tr> </table>

The following table sets forth the potential shares of common stock that are not included in the calculation of diluted net loss per share:   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center; line-height: 107%"> </td> <td style="text-align: center; line-height: 107%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 107%">June 30, 2018</td> <td style="text-align: center; line-height: 107%"> </td> <td style="text-align: center; line-height: 107%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 107%">June 30, 2017</td> <td style="text-align: center; line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 62%; line-height: 107%">Stock options outstanding</td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 16%; text-align: right; line-height: 107%">1,380,000</td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 16%; text-align: right; line-height: 107%">725,557</td> <td style="width: 1%; line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 107%">Warrants to purchase common stock</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">3,717,826</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">7,875,417</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 107%">Debentures convertible into common stock</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">2,421,752</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">255,871</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 107%">Preferred shares convertible into common stock</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">1,272,052</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">1,272,052</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 107%">Directors Deferred Compensation Plan</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">615,619</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">364,356</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; line-height: 107%">Total</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">9,407,249</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">10,493,253</td> <td style="line-height: 107%"> </td></tr> </table>

Related Parties Notes Payable   Related Party Notes Payable consists of:   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center; line-height: 107%"> </td> <td style="text-align: center; line-height: 107%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 107%">June 30, 2018</td> <td style="text-align: center; line-height: 107%"> </td> <td style="text-align: center; line-height: 107%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 107%">December 31, 2017</td> <td style="text-align: center; line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 54%; text-align: justify; line-height: 107%">In the period the Company issued promissory notes to Fountainhead Capital Management Limited and Peter Zachariou for $163,000. The notes bear interest at 10% per annum and are payable on the earlier of one year or five days following the delivery of written demand for payment by the Payee.</td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="width: 20%; border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">163,000</td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="width: 20%; border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">-</td> <td style="width: 1%; line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 107%">Total Related Party Notes Payable</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 107%">163,000</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 107%">-</td> <td style="line-height: 107%"> </td></tr> </table>   Other Notes Payable   Other Notes Payable consists of:   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center; line-height: 107%"> </td> <td style="text-align: center; line-height: 107%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 107%">June 30, 2018</td> <td style="text-align: center; line-height: 107%"> </td> <td style="text-align: center; line-height: 107%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 107%">December 31, 2017</td> <td style="text-align: center; line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 54%; line-height: 107%">On March 25, 2011 the Company issued a term note for $300,000 to EuroAmerican Investment Corp. (“EuroAmerican”). The term note bears interest at 16% per annum and was due June 25, 2011, and has been extended on a number of occasions. On the note’s most recent due date, the note was amended and extended to December 31, 2018. See further note below.</td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 20%; text-align: right; line-height: 107%">300,000</td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 20%; text-align: right; line-height: 107%">300,000</td> <td style="width: 1%; line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify; line-height: 107%">Insurance policy finance agreements.</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">23,080</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">18,393</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 107%">Total Notes Payable:</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 107%">323,080</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 107%">318,393</td> <td style="line-height: 107%"> </td></tr> </table>

2018 Offering, exercisable for three years from January 1, 2018, if and when the conversion option is exercised.

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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2018	Aug. 10, 2018
Document And Entity Information
Entity Registrant Name	VYCOR MEDICAL INC
Entity Central Index Key	0001424768
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		22,217,049
Trading Symbol	VYCO
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2018

XML 13 R2.htm IDEA: XBRL DOCUMENT

Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Current Assets
Cash	$ 76,733	$ 206,213
Trade accounts receivable	136,322	110,422
Inventory	182,346	213,883
Prepaid expenses and other current assets	76,617	77,990
Total Current Assets	472,018	608,508
Fixed assets, net	473,829	489,170
Intangible and Other assets:
Trademarks	251,157	251,157
Patents, net of accumulated amortization	58,183	81,064
Website, net of accumulated amortization	8,104	10,389
Security deposits	6,528	9,169
Total Intangible and Other assets	323,972	351,779
TOTAL ASSETS	1,269,819	1,449,457
Current Liabilities
Accounts payable	117,978	141,319
Accrued interest: Other	208,568	184,765
Accrued interest: Related party	13,486	12,840
Accrued liabilities - Other	196,985	161,328
Accrued liabilities - Related Party	486,555	549,370
Notes payable: Other	323,080	318,393
Notes payable: Related Party	163,000
Total Current Liabilities	1,509,652	1,368,015
STOCKHOLDERS' EQUITY (DEFICIENCY)
Preferred stock, $0.0001 par value, 10,000,000 shares authorized, 270,306 and 270,306 issued and outstanding as at June 30, 2018 and December 31, 2017 respectively	27	27
Common Stock, $0.0001 par value, 55,000,000 shares authorized, 22,320,393 and 19,925,322 shares issued and 22,217,049 and 19,821,988 outstanding at June 30, 2018 and December 31, 2017 respectively	2,232	1,993
Additional Paid-in Capital	27,504,960	26,921,574
Treasury Stock (103,334 shares of Common Stock at cost)	(1,033)	(1,033)
Accumulated Deficit	(27,873,365)	(26,965,960)
Accumulated Other Comprehensive Income	127,346	124,841
Total Stockholders' Equity (Deficiency)	(239,833)	81,442
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY)	$ 1,269,819	$ 1,449,457

XML 14 R3.htm IDEA: XBRL DOCUMENT

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	270,306	270,306
Preferred stock, shares outstanding	270,306	270,306
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	55,000,000	55,000,000
Common stock, shares issued	22,320,393	19,925,322
Common stock, shares outstanding	22,217,049	19,821,988
Treasury stock, shares	103,334	103,334

XML 15 R4.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Statement [Abstract]
Revenue	$ 301,665	$ 307,684	$ 626,766	$ 736,083
Cost of Revenues Sold	46,987	39,445	76,330	87,421
Gross Profit	254,678	268,239	550,436	648,662
Operating expenses:
Depreciation and Amortization	43,329	69,264	85,332	138,636
General and administrative	616,997	552,865	1,185,302	1,163,635
Total Operating expenses	660,326	622,129	1,270,634	1,302,271
Operating loss	(405,648)	(353,890)	(720,198)	(653,609)
Other income (expense)
Interest expense: Other	(12,199)	(8,809)	(24,225)	(20,853)
Interest expense: Related Party	(646)		(646)	(679)
Loss on foreign currency exchange	(91)	1,982	(151)	1,632
Total Other Income (expense)	(12,936)	(6,827)	(25,022)	(19,900)
Loss Before Credit for Income Taxes	(418,584)	(360,717)	(745,220)	(673,509)
Credit for income taxes
Net Loss	(418,584)	(360,717)	(745,220)	(673,509)
Preferred stock dividends			(162,185)	(162,185)
Net Loss available to common shareholders	(418,584)	(360,717)	(907,405)	(835,694)
Comprehensive Loss
Foreign Currency Translation Adjustment	3,667	(2,959)	2,505	(2,959)
Comprehensive Loss	$ (414,917)	$ (363,676)	$ (904,900)	$ (838,653)
Net Loss Per Share
Basic and diluted	$ (0.02)	$ (0.02)	$ (0.04)	$ (0.05)
Weighted Average Number of Shares Outstanding - Basic and Diluted	21,542,847	18,674,287	20,768,663	16,970,241

XML 16 R5.htm IDEA: XBRL DOCUMENT

Consolidated Statement of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities:
Net loss	$ (745,220)	$ (673,509)
Adjustments to reconcile net loss to cash used in operating activities:
Amortization of intangible assets	25,166	86,118
Depreciation of fixed assets	64,902	60,214
Inventory provision		2,544
Stock based compensation	358,625	197,868
Accrued liabilities - Related Party		82,500
loss on foreign exchange		1,634
Changes in assets and liabilities:
Accounts receivable	(25,900)	30,897
Inventory	31,537	26,507
Prepaid expenses	1,375	47,970
Security Deposits	2,641	(4,245)
Accrued interest - Related Party	646	680
Accrued interest - Other	23,803	23,803
Accounts payable	(23,341)	(128,956)
Accrued liabilities - Other	35,657	(3,542)
Cash used in operating activities	(250,109)	(249,517)
Cash flows from investing activities:
Purchase of fixed assets	(50,035)	(88,012)
Cash used in investing activities	(50,035)	(88,012)
Cash flows from financing activities:
Proceeds from issuance of common stock, net		842,207
Proceeds from Notes Payable - Related Party	163,000
Proceeds net of repayments Notes Payable - Other	4,687	(37,735)
Cash provided by financing activities	167,687	804,472
Effect of exchange rate changes on cash	2,977	(5,047)
Net increase (decrease) in cash	(129,480)	461,896
Cash at beginning of period	206,213	56,859
Cash at end of period	76,733	518,755
Supplemental Disclosures of Cash Flow information:
Cash paid for interest	0	0
Cash paid for income tax	0	0
Non-Cash Transactions:
Common stock issued upon conversion of debt	0	248,000
Common stock issued in respect of funds held in escrow	0	101,000
Common stock issued to related party for payment of accrued liabilities	$ 225,000	$ 0

XML 17 R6.htm IDEA: XBRL DOCUMENT

Basis of Presentation

6 Months Ended

Jun. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

1.	BASIS OF PRESENTATION

Ability to continue as a Going Concern

XML 18 R7.htm IDEA: XBRL DOCUMENT

Significant Accounting Policies

6 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

Significant Accounting Policies

2.	SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation

Recent Accounting Pronouncements

Net Loss Per Share

The following table sets forth the potential shares of common stock that are not included in the calculation of diluted net loss per share:

	June 30, 2018		June 30, 2017
Stock options outstanding		1,380,000		725,557
Warrants to purchase common stock		3,717,826		7,875,417
Debentures convertible into common stock		2,421,752		255,871
Preferred shares convertible into common stock		1,272,052		1,272,052
Directors Deferred Compensation Plan		615,619		364,356
Total		9,407,249		10,493,253

XML 19 R8.htm IDEA: XBRL DOCUMENT

Notes Payable

6 Months Ended

Jun. 30, 2018

Debt Disclosure [Abstract]

Notes Payable

3.	NOTES PAYABLE

Related Parties Notes Payable

Related Party Notes Payable consists of:

	June 30, 2018		December 31, 2017
In the period the Company issued promissory notes to Fountainhead Capital Management Limited and Peter Zachariou for $163,000. The notes bear interest at 10% per annum and are payable on the earlier of one year or five days following the delivery of written demand for payment by the Payee.		163,000		-
Total Related Party Notes Payable		163,000		-

Other Notes Payable

Other Notes Payable consists of:

	June 30, 2018		December 31, 2017
On March 25, 2011 the Company issued a term note for $300,000 to EuroAmerican Investment Corp. (“EuroAmerican”). The term note bears interest at 16% per annum and was due June 25, 2011, and has been extended on a number of occasions. On the note’s most recent due date, the note was amended and extended to December 31, 2018. See further note below.		300,000		300,000
Insurance policy finance agreements.		23,080		18,393
Total Notes Payable:		323,080		318,393

XML 20 R9.htm IDEA: XBRL DOCUMENT

Segment Reporting, Geographical Information

6 Months Ended

Jun. 30, 2018

Segment Reporting [Abstract]

Segment Reporting, Geographical Information

4.	SEGMENT REPORTING, GEOGRAPHICAL INFORMATION

(a) Business segments

	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Revenue:
Vycor Medical	$	253,292	$	252,324	$	531,103	$	622,210
NovaVision	$	48,373	$	55,360	$	95,663	$	113,873
	$	301,665	$	307,684	$	626,766	$	736,083
Gross Profit
Vycor Medical	$	209,998	$	218,257	$	463,567	$	546,853
NovaVision	$	44,680	$	49,982	$	86,869	$	101,809
	$	254,678	$	268,239	$	550,436	$	648,662

	June 30, 2018		December 31, 2017
Total Assets:
Vycor Medical	$	845,267	$	977,145
NovaVision		424,552		472,312
Total Assets	$	1,269,819	$	1,449,457

(b) Geographic information

The Company operates in two geographic segments, the United States and Europe. Set out below are the revenues, gross profits and total assets for each segment.

	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Revenue:
United States	$	276,952	$	279,908	$	577,123	$	680,979
Europe	$	24,713	$	27,776	$	49,643	$	55,104
	$	301,665	$	307,684	$	626,766	$	736,083
Gross Profit
United States	$	233,603	$	242,912	$	507,184	$	598,612
Europe	$	21,075	$	25,327	$	43,252	$	50,050
	$	254,678	$	268,239	$	550,436	$	648,662

	June 30, 2018		December 31, 2017
Total Assets:
United States	$	1,092,286	$	1,263,197
Europe		177,533		186,260
Total Assets	$	1,269,819	$	1,449,457

XML 21 R10.htm IDEA: XBRL DOCUMENT

Equity

6 Months Ended

Jun. 30, 2018

Equity [Abstract]

Equity

5.	EQUITY

Common Stock and Stock Grants

On April 20, 2018, the Company issued an aggregate of 1,113,936 shares of Company Common Stock on the cashless exercise of an aggregate of Warrants to purchase 3,111,560 shares of Common Stock

Warrants and Options

The details of the outstanding warrants and options are as follows:

STOCK WARRANTS:

				Weighted average
	Number of shares			exercise price per share
Outstanding at December 31, 2017		6,929,386		$	0.31
Granted		-			-
Exercised		(3,111,560	)		0.28
Cancelled or expired		(100,000	)		2.56
Outstanding at June 30, 2018		3,717,826		$	0.27

STOCK OPTIONS:

				Weighted average
	Number of shares			exercise price per share
Outstanding at December 31, 2017		725,557		$	0.95
Granted		680,000			0.28
Exercised		-			-
Cancelled or expired		(25,557	)		5.97
Outstanding at June 30, 2018		1,380,000		$	0.53

As of June 30, 2018, the weighted-average remaining contractual life of outstanding warrants and options is 1.62 and 1.86 years, respectively.

XML 22 R11.htm IDEA: XBRL DOCUMENT

Share-Based Compensation

6 Months Ended

Jun. 30, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Compensation

6.	SHARE-BASED COMPENSATION

Stock Option Plan

For the six months ended June 30, 2018 and 2017, the Company recognized share-based compensation of $4,871 and $1,609, respectively, for employee stock options.

Non-Employee Stock Compensation

Stock-based Compensation Valuation Methodology

The following assumptions were used in calculations of the Black-Scholes option pricing model for the six months ended June 30, 2018 and 2017:

	Six Months Ended June 30,
	2018			2017
Risk-free interest rates		1.72-2.41	%		1.5	%
Expected life		1.5-4 years			1.5 years
Expected dividends		0	%		0	%
Expected volatility		102-107	%		104	%
Vycor Common Stock fair value	$	0.20-0.49		$	0.20

XML 23 R12.htm IDEA: XBRL DOCUMENT

Commitments and Contingencies

6 Months Ended

Jun. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

7.	COMMITMENTS AND CONTINGENCIES

Lease

Potential German tax liability

XML 24 R13.htm IDEA: XBRL DOCUMENT

Consulting and Other Agreements

6 Months Ended

Jun. 30, 2018

Consulting And Other Agreements

Consulting and Other Agreements

8.	CONSULTING AND OTHER AGREEMENTS

The following agreements were entered into or remained in force during the period ended June 30, 2018:

Consulting Agreement with Fountainhead

XML 25 R14.htm IDEA: XBRL DOCUMENT

Related Party Transactions

6 Months Ended

Jun. 30, 2018

Related Party Transactions

9.	RELATED PARTY TRANSACTIONS

XML 26 R15.htm IDEA: XBRL DOCUMENT

Concentration

6 Months Ended

Jun. 30, 2018

Risks and Uncertainties [Abstract]

Concentration

10.

CONCENTRATION

Vycor sells its neurosurgical devices in the US primarily direct to hospitals, and internationally through distributors who in turn sell to hospitals. The sales to one international distributor represented 30% and 0%, respectively, of total sales for the three months ended June 30, 2018 and 2017. The sales to one international distributor represented 14% and 10%, respectively, of total sales for the six months ended June 30, 2018 and 2017. The accounts receivable from one international distributor represented 26% of total Accounts Receivable at June 30, 2018 and another international distributor represented 12% at December 31, 2017 of total Accounts Receivable at December 31, 2017 respectively.

XML 27 R16.htm IDEA: XBRL DOCUMENT

Subsequent Events

6 Months Ended

Jun. 30, 2018

Subsequent Events [Abstract]

Subsequent Events

11.

SUBSEQUENT EVENTS

XML 28 R17.htm IDEA: XBRL DOCUMENT

Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

Principles of Consolidation

Principles of Consolidation

Recent Accounting Pronouncements

Recent Accounting Pronouncements

Net Loss Per Share

Net Loss Per Share

The following table sets forth the potential shares of common stock that are not included in the calculation of diluted net loss per share:

	June 30, 2018		June 30, 2017
Stock options outstanding		1,380,000		725,557
Warrants to purchase common stock		3,717,826		7,875,417
Debentures convertible into common stock		2,421,752		255,871
Preferred shares convertible into common stock		1,272,052		1,272,052
Directors Deferred Compensation Plan		615,619		364,356
Total		9,407,249		10,493,253

XML 29 R18.htm IDEA: XBRL DOCUMENT

Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

Schedule of Common Stock Not Included in Calculation of Diluted Net Loss Per Share

The following table sets forth the potential shares of common stock that are not included in the calculation of diluted net loss per share:

	June 30, 2018		June 30, 2017
Stock options outstanding		1,380,000		725,557
Warrants to purchase common stock		3,717,826		7,875,417
Debentures convertible into common stock		2,421,752		255,871
Preferred shares convertible into common stock		1,272,052		1,272,052
Directors Deferred Compensation Plan		615,619		364,356
Total		9,407,249		10,493,253

XML 30 R19.htm IDEA: XBRL DOCUMENT

Notes Payable (Tables)

6 Months Ended

Jun. 30, 2018

Debt Disclosure [Abstract]

Summary of Notes Payable

Related Parties Notes Payable

Related Party Notes Payable consists of:

	June 30, 2018		December 31, 2017
In the period the Company issued promissory notes to Fountainhead Capital Management Limited and Peter Zachariou for $163,000. The notes bear interest at 10% per annum and are payable on the earlier of one year or five days following the delivery of written demand for payment by the Payee.		163,000		-
Total Related Party Notes Payable		163,000		-

Other Notes Payable

Other Notes Payable consists of:

	June 30, 2018		December 31, 2017
On March 25, 2011 the Company issued a term note for $300,000 to EuroAmerican Investment Corp. (“EuroAmerican”). The term note bears interest at 16% per annum and was due June 25, 2011, and has been extended on a number of occasions. On the note’s most recent due date, the note was amended and extended to December 31, 2018. See further note below.		300,000		300,000
Insurance policy finance agreements.		23,080		18,393
Total Notes Payable:		323,080		318,393

XML 31 R20.htm IDEA: XBRL DOCUMENT

Segment Reporting, Geographical Information (Tables)

6 Months Ended

Jun. 30, 2018

Segment Reporting [Abstract]

Schedule of Business Segments Information

Set out below are the revenues, gross profits and total assets for each segment.

	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Revenue:
Vycor Medical	$	253,292	$	252,324	$	531,103	$	622,210
NovaVision	$	48,373	$	55,360	$	95,663	$	113,873
	$	301,665	$	307,684	$	626,766	$	736,083
Gross Profit
Vycor Medical	$	209,998	$	218,257	$	463,567	$	546,853
NovaVision	$	44,680	$	49,982	$	86,869	$	101,809
	$	254,678	$	268,239	$	550,436	$	648,662

	June 30, 2018		December 31, 2017
Total Assets:
Vycor Medical	$	845,267	$	977,145
NovaVision		424,552		472,312
Total Assets	$	1,269,819	$	1,449,457

Summary of Geographic Information

Set out below are the revenues, gross profits and total assets for each segment.

	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Revenue:
United States	$	276,952	$	279,908	$	577,123	$	680,979
Europe	$	24,713	$	27,776	$	49,643	$	55,104
	$	301,665	$	307,684	$	626,766	$	736,083
Gross Profit
United States	$	233,603	$	242,912	$	507,184	$	598,612
Europe	$	21,075	$	25,327	$	43,252	$	50,050
	$	254,678	$	268,239	$	550,436	$	648,662

	June 30, 2018		December 31, 2017
Total Assets:
United States	$	1,092,286	$	1,263,197
Europe		177,533		186,260
Total Assets	$	1,269,819	$	1,449,457

XML 32 R21.htm IDEA: XBRL DOCUMENT

Equity (Tables)

6 Months Ended

Jun. 30, 2018

Stock Option [Member]

Schedule of Warrants and Options

STOCK OPTIONS:

				Weighted average
	Number of shares			exercise price per share
Outstanding at December 31, 2017		725,557		$	0.95
Granted		680,000			0.28
Exercised		-			-
Cancelled or expired		(25,557	)		5.97
Outstanding at June 30, 2018		1,380,000		$	0.53

Warrant [Member]

Schedule of Warrants and Options

STOCK WARRANTS:

				Weighted average
	Number of shares			exercise price per share
Outstanding at December 31, 2017		6,929,386		$	0.31
Granted		-			-
Exercised		(3,111,560	)		0.28
Cancelled or expired		(100,000	)		2.56
Outstanding at June 30, 2018		3,717,826		$	0.27

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References + Details

XML 33 R22.htm IDEA: XBRL DOCUMENT

Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Assumptions Used in Calculations of Black-Scholes Option Pricing Model

The following assumptions were used in calculations of the Black-Scholes option pricing model for the six months ended June 30, 2018 and 2017:

	Six Months Ended June 30,
	2018			2017
Risk-free interest rates		1.72-2.41	%		1.5	%
Expected life		1.5-4 years			1.5 years
Expected dividends		0	%		0	%
Expected volatility		102-107	%		104	%
Vycor Common Stock fair value	$	0.20-0.49		$	0.20

XML 34 R23.htm IDEA: XBRL DOCUMENT

Basis of Presentation (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
Basis of Presentation (Details Narrative) - USD ($)	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ 418,584	$ 360,717	$ 745,220	$ 673,509
Working capital deficiency	374,593		374,593
Related party liabilities	$ 663,041		$ 663,041

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

XML 35 R24.htm IDEA: XBRL DOCUMENT

Significant Accounting Policies - Schedule of Common Stock Not Included in Calculation of Diluted Net Loss Per Share (Details) - shares	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Potential shares of common stock that are not included in the calculation of diluted net loss per share	9,407,249	10,493,253
Stock Options Outstanding [Member]
Potential shares of common stock that are not included in the calculation of diluted net loss per share	1,380,000	725,557
Warrants to Purchase Common Stock [Member]
Potential shares of common stock that are not included in the calculation of diluted net loss per share	3,717,826	7,875,417
Debentures Convertible into Common Stock [Member]
Potential shares of common stock that are not included in the calculation of diluted net loss per share	2,421,752	255,871
Preferred Shares Convertible into Common Stock [Member]
Potential shares of common stock that are not included in the calculation of diluted net loss per share	1,272,052	1,272,052
Directors Deferred Compensation Plan [Member]
Potential shares of common stock that are not included in the calculation of diluted net loss per share	615,619	364,356

XML 36 R25.htm IDEA: XBRL DOCUMENT

Notes Payable (Details Narrative) - EuroAmerican Investment Corp [Member] - USD ($)			6 Months Ended
	Jan. 24, 2018	Mar. 25, 2011	Jun. 30, 2018
Debt extended due date		Dec. 31, 2018
Warrant [Member]
Warrant to purchase of common stock	2,308,405
Warrant to purchase of common stock price per share	$ 0.27
Warrant term	3 years
Offering exercisable term description	2018 Offering, exercisable for three years from January 1, 2018, if and when the conversion option is exercised.
Amendment Agreement [Member]
Note payable other	$ 300,000
Debt extended due date	Dec. 31, 2018
Debt conversion price	$ 0.21
Number of common stock, shares converted			2,421,752

XML 37 R26.htm IDEA: XBRL DOCUMENT

Notes Payable - Summary of Notes Payable (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Total Related Party Notes Payable	$ 163,000
Total Other Notes Payable	323,080	318,393
Fountainhead Capital Management Limited and Peter Zachariou [Member]
Total Related Party Notes Payable	163,000
Other Notes Payable [Member]
Total Other Notes Payable	300,000	300,000
Insurance Policy Finance Agreements [Member]
Total Other Notes Payable	$ 23,080	$ 18,393

XML 38 R27.htm IDEA: XBRL DOCUMENT

Notes Payable - Summary of Notes Payable (Details) (Parenthetical) - USD ($)		6 Months Ended
	Mar. 25, 2011	Jun. 30, 2018	Dec. 31, 2017
Related party notes payable		$ 163,000
EuroAmerican Investment Corp [Member]
Notes interest rate	16.00%
Term notes	$ 300,000
Debt due date	Jun. 25, 2011
Debt extended due date	Dec. 31, 2018
Fountainhead Capital Management Limited and Peter Zachariou [Member]
Related party notes payable		$ 163,000
Notes interest rate		10.00%
Interest rate description		The notes bear interest at 10% per annum and are payable on the earlier of one year or five days following the delivery of written demand for payment by the Payee.

- Definition

Identification of the lender and information about a contractual promise to repay a short-term or long-term obligation, which includes borrowings under lines of credit, notes payable, commercial paper, bonds payable, debentures, and other contractual obligations for payment. This may include rationale for entering into the arrangement, significant terms of the arrangement, which may include amount, repayment terms, priority, collateral required, debt covenants, borrowing capacity, call features, participation rights, conversion provisions, sinking-fund requirements, voting rights, basis for conversion if convertible and remarketing provisions. The description may be provided for individual debt instruments, rational groupings of debt instruments, or by debt in total.

+ References + Details

XML 39 R28.htm IDEA: XBRL DOCUMENT

Segment Reporting, Geographical Information (Details Narrative)	6 Months Ended
	Jun. 30, 2018 Number
Segment Reporting [Abstract]
Number of reportable segments	2

XML 40 R29.htm IDEA: XBRL DOCUMENT

Segment Reporting, Geographical Information - Schedule of Business Segments Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Total Revenue	$ 301,665	$ 307,684	$ 626,766	$ 736,083
Total Gross Profit	254,678	268,239	550,436	648,662
Total Assets	1,269,819		1,269,819		$ 1,449,457
Vycor Medical [Member]
Total Revenue	253,292	252,324	531,103	622,210
Total Gross Profit	209,998	218,257	463,567	546,853
Total Assets	845,267		845,267		977,145
NovaVision [Member]
Total Revenue	48,373	55,360	95,663	113,873
Total Gross Profit	44,680	$ 49,982	86,869	$ 101,809
Total Assets	$ 424,552		$ 424,552		$ 472,312

XML 41 R30.htm IDEA: XBRL DOCUMENT

Segment Reporting, Geographical Information - Summary of Geographic Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Total Revenue	$ 301,665	$ 307,684	$ 626,766	$ 736,083
Total Gross Profit	254,678	268,239	550,436	648,662
Total Assets	1,269,819		1,269,819		$ 1,449,457
United States [Member]
Total Revenue	276,952	279,908	577,123	680,979
Total Gross Profit	233,603	242,912	507,184	598,612
Total Assets	1,092,286		1,092,286		1,263,197
Europe [Member]
Total Revenue	24,713	27,776	49,643	55,104
Total Gross Profit	21,075	$ 25,327	43,252	$ 50,050
Total Assets	$ 177,533		$ 177,533		$ 186,260

XML 42 R31.htm IDEA: XBRL DOCUMENT

Equity (Details Narrative) - USD ($)		1 Months Ended		6 Months Ended		12 Months Ended
Equity (Details Narrative) - USD ($)	Apr. 20, 2018	Mar. 31, 2018	Mar. 31, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Common stock issued to related party for payment of accrued fees				$ 225,000	$ 0
Weighted-average remaining contractual life of outstanding warrants				1 year 7 months 13 days
Weighted-average remaining contractual life of outstanding options				1 year 10 months 10 days
Fountainhead [Member] \| Consulting Agreement [Member]
Common stock shares issued to related party for payment of accrued fees				1,281,124
Common stock issued to related party for payment of accrued fees				$ 450,000		$ 225,000
Number of common stock shares issued on cashless exercise	1,113,936
Number of warrants to purchase shares of common stock	3,111,560
Number of options to purchase shares of common stock		660,000	660,000
Non Employee Directors [Member]
Shares issued for services				105,092
Value of shares issued for services				$ 42,000

XML 43 R32.htm IDEA: XBRL DOCUMENT

Equity - Schedule of Warrants and Options (Details)	6 Months Ended
Equity - Schedule of Warrants and Options (Details)	Jun. 30, 2018 $ / shares shares
Stock Option [Member]
Number of shares Outstanding, Beginning Balance \| shares	725,557
Number of shares, Granted \| shares	680,000
Number of shares, Exercised \| shares
Number of shares, Cancelled or expired \| shares	(25,557)
Number of shares Outstanding, Ending Balance \| shares	1,380,000
Weighted average exercise price per share, Outstanding, Beginning Balance \| $ / shares	$ 0.95
Weighted average exercise price per share, Granted \| $ / shares	0.28
Weighted average exercise price per share, Exercised \| $ / shares
Weighted average exercise price per share, Cancelled or expired \| $ / shares	5.97
Weighted average exercise price per share, Outstanding, Ending balance \| $ / shares	$ 0.53
Warrant [Member]
Number of shares Outstanding, Beginning Balance \| shares	6,929,386
Number of shares, Granted \| shares
Number of shares, Exercised \| shares	(3,111,560)
Number of shares, Cancelled or expired \| shares	(100,000)
Number of shares Outstanding, Ending Balance \| shares	3,717,826
Weighted average exercise price per share, Outstanding, Beginning Balance \| $ / shares	$ 0.31
Weighted average exercise price per share, Granted \| $ / shares
Weighted average exercise price per share, Exercised \| $ / shares	0.28
Weighted average exercise price per share, Cancelled or expired \| $ / shares	2.56
Weighted average exercise price per share, Outstanding, Ending balance \| $ / shares	$ 0.27

XML 44 R33.htm IDEA: XBRL DOCUMENT

Share-Based Compensation (Details Narrative) - USD ($)	6 Months Ended
Share-Based Compensation (Details Narrative) - USD ($)	Jun. 30, 2018	Jun. 30, 2017
Issuances of common stock		$ 842,207
Stock Option [Member]
Issuances of common stock	$ 86,754
Number of issuance of options	660,000
Directors [Member] \| Deferred Compensation Plan [Member]
Stock granted but not issued	$ 42,000	42,000
Fountainhead [Member]
Number of option granted	216,582	86,754
Employees [Member]
Share-based compensation	4,871	1,609
Non-employee [Member]
Share-based compensation	353,800	$ 278,759
Total unrecognized compensation costs	$ 0

XML 45 R34.htm IDEA: XBRL DOCUMENT

Share-Based Compensation - Schedule of Assumptions Used in Calculations of Black-Scholes Option Pricing Model (Details) - $ / shares	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Risk-free interest rates		1.50%
Expected life		1 year 6 months
Expected dividends	0.00%	0.00%
Expected volatility		104.00%
Vycor Common Stock fair value		$ 0.20
Minimum [Member]
Risk-free interest rates	1.72%
Expected life	1 year 6 months
Expected volatility	102.00%
Vycor Common Stock fair value	$ 0.20
Maximum [Member]
Risk-free interest rates	2.41%
Expected life	4 years
Expected volatility	107.00%
Vycor Common Stock fair value	$ 0.49

XML 46 R35.htm IDEA: XBRL DOCUMENT

Commitments and Contingencies (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2012
Rent expense	$ 5,700
Lease termination date	Sep. 30, 2020
Trade tax			$ 85,000
Euro [Member]
Trade tax			$ 75,000
Germany [Member]
Rent expense	$ 49,979	$ 100,978

XML 47 R36.htm IDEA: XBRL DOCUMENT

Consulting and Other Agreements (Details Narrative) - USD ($)	1 Months Ended		3 Months Ended		6 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Stock option cash					$ 358,625	$ 197,868
2018 Stock Option Plan [Member] \| Fountainhead [Member]
Number of options to purchase shares of common stock			660,000	660,000
Common stock options exercise price	$ 0.46	$ 0.27	$ 0.46	$ 0.27
Vesting period description			Vesting of these options is subject to the achievement of certain milestones by March 31, 2019.	These options became fully vested in June 2018 following the achievement of the milestones.
Fountainhead Consulting Agreement [Member] \| March 2017 and Effective April 1, 2017 [Member]
Payment of fees					450,000
Stock option cash					$ 5,000
Fountainhead Consulting Agreement [Member] \| March 2017 and Effective April 1, 2017 [Member] \| 2008 Stock Option Plan [Member]
Common stock exercise price					$ 0.27
Number of options to purchase shares of common stock					660,000
Fountainhead Consulting Agreement [Member] \| March 2017 and Effective April 1, 2017 [Member] \| Private Placement [Member]
Common stock exercise price					$ 0.21
Consulting Agreement [Member] \| Fountainhead [Member]
Number of options to purchase shares of common stock	660,000	660,000
Aggregate fee received					$ 225,000		$ 225,000
Issuance of shares of common stock					572,824		705,841

XML 48 R37.htm IDEA: XBRL DOCUMENT

Related Party Transactions (Details Narrative) - USD ($)	1 Months Ended		3 Months Ended		6 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017	Jan. 24, 2018
Common stock issued to related party for payment of accrued fees					$ 225,000	$ 0
Fountainhead [Member] \| Consulting Agreement [Member]
Stock based granted options	660,000	660,000
Issuance of shares of common stock					572,824		705,841
Common stock issued to related party for payment of accrued fees					$ 450,000		$ 225,000
Aggregate fee received					225,000		$ 225,000
Fountainhead [Member] \| 2018 Stock Option Plan [Member]
Stock based granted options			660,000	660,000
Common stock options exercise price	$ 0.46	$ 0.27	$ 0.46	$ 0.27
Vesting period description			Vesting of these options is subject to the achievement of certain milestones by March 31, 2019.	These options became fully vested in June 2018 following the achievement of the milestones.
Preferred D Stock[Member]
Aggregate dividends					162,185
Preferred D Stock[Member] \| Related Party [Member]
Aggregate dividends					154,712
EuroAmerican [Member]
Debt instrument face value								$ 300,000
Fountainhead [Member]
Unsecured loan notes issued					$ 133,000
Unsecured loan notes interest rate					10.00%
Debt term					1 year
Fountainhead [Member] \| Consulting Agreement [Member]
Issuance of shares of common stock							1,281,124
Common stock issued to related party for payment of accrued fees							$ 450,000
Aggregate fee received							$ 225,000
Fountainhead [Member] \| Directors [Member]
Equity ownership percentage					51.00%
Fountainhead [Member] \| Directors [Member] \| Preferred D Stock[Member]
Equity ownership percentage					70.00%
Peter Zachariou [Member]
Unsecured loan notes issued					$ 30,000
Unsecured loan notes interest rate					10.00%
Debt term					1 year

XML 49 R38.htm IDEA: XBRL DOCUMENT

Concentration (Details Narrative) - International Distributor [Member]	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Sales [Member]
Concentration risk, percentage	30.00%	0.00%	14.00%	10.00%
Accounts Receivable [Member]
Concentration risk, percentage			26.00%		12.00%