10-Q

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 March 31, 2019
[  ]	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 23,681,408 shares outstanding of registrant’s common stock, par value $0.0001 per share, as of May 10, 2019.

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 March 31, 2019 and December 31, 2018	3
	Unaudited Consolidated Statements of Comprehensive Loss for the three months ended March 31, 2019 and 2018.	4
	Unaudited Consolidated Statement of Stockholders’ Deficiency for the three months ended March 31, 2019 and 2018.	5
	Unaudited Consolidated Statements of Cash Flows for the three months ended March 31, 2019 and 2018.	6
	Notes to Unaudited Consolidated Financial Statements	7
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operation	15
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

2

PART I

ITEM 1. FINANCIAL STATEMENTS

VYCOR MEDICAL, INC.

Consolidated Balance Sheets

(Unaudited)

	March 31, 2019			December 31, 2018
ASSETS
Current Assets
Cash	$	101,054		$	86,481
Trade accounts receivable		259,957			257,468
Inventory		254,386			203,122
Prepaid expenses and other current assets		154,412			82,575
Total Current Assets		769,809			629,646
Fixed assets, net		363,505			372,641
Intangible and Other assets:
Patents, net of accumulated amortization		32,309			35,303
Website, net of accumulated amortization		-			187
Other Assets – Long Term		25,145			6,000
Total Intangible and Other assets		38,309			41,490
TOTAL ASSETS	$	1,190,768		$	1,043,777
LIABILITIES AND STOCKHOLDERS’ DEFICIENCY
Current Liabilities
Accounts payable	$	178,604		$	92,955
Accrued interest: Other		244,601			232,765
Accrued interest: Related party		29,033			24,274
Accrued liabilities – Other		327,760			295,056
Accrued liabilities - Related Party		810,925			648,740
Notes payable: Other		347,643			325,814
Notes payable: Related Party		210,873			193,000
Total Current Liabilities		2,149,439			1,812,604
Long Term Liabilities – Capital Lease		19,145			-
STOCKHOLDERS’ DEFICIENCY
Preferred stock, $0.0001 par value, 10,000,000 shares authorized, 270,306 and 270,306 issued and outstanding as at March 31, 2019 and December 31, 2018 respectively		27			27
Common Stock, $0.0001 par value, 55,000,000 shares authorized at March 31, 2019 and December 31, 2018, 23,779,742 and 23,244,028 shares issued and 23,676,408 and 23,140,694 outstanding at March 31, 2019 and December 31, 2018 respectively		2,378			2,324
Additional Paid-in Capital		27,905,314			27,771,868
Treasury Stock (103,334 shares of Common Stock as at March 31, 2019 and December 31, 2018 respectively, at cost)		(1,033	)		(1,033	)
Accumulated Deficit		(29,012,169	)		(28,669,686	)
Accumulated Other Comprehensive Income (Loss)		127,667			127,673
Total Stockholders’ Equity Deficiency		(977,816	)		(768,827	)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIENCY	$	1,190,768		$	1,043,777

See accompanying notes to financial statements

3

VYCOR MEDICAL, INC.

Consolidated Statements of Comprehensive Loss

(Unaudited)

	For the three months ended March 31,
	2019			2018
Revenue	$	350,666		$	325,101
Cost of Goods Sold		36,198			29,343
Gross Profit		314,468			295,758
Operating expenses:
Depreciation and Amortization		15,085			42,003
Selling, General and administrative		462,221			568,305
Total Operating expenses		477,306			610,308
Operating loss		(162,838	)		(314,550	)
Other income (expense)
Interest expense: Related Party		(4,759	)		-
Interest expense: Other		(11,953	)		(12,026	)
Loss on foreign currency exchange		(748	)		(60	)
Total Other Income (expense)		(17,460	)		(12,086	)
Loss Before Credit for Income Taxes		(180,298	)		(326,636	)
Credit for income taxes		-			-
Net Loss		(180,298	)		(326,636	)
Preferred stock dividends		(162,185	)		(162,185	)
Net Loss available to common stockholders		(342,483	)		(488,821	)
Other Comprehensive Loss
Foreign Currency Translation Adjustment		(6	)		(1,162	)
Comprehensive Loss	$	(342,489	)	$	(489,983	)
Net Loss Per Share
Basic and diluted	$	(0.01	)	$	(0.02	)
Weighted Average Number of Shares Outstanding – Basic and Diluted		23,146,646			19,985,877

See accompanying notes to financial statements

4

VYCOR MEDICAL, INC.

Consolidated Statement of Stockholders’ Deficiency

(Unaudited)

																			Additional					Accum
	Common Stock				Preferred C				Preferred D				Treasury Stock						Paid-in		Accumulated			OCI
	Number		Amount		Number		Amount		Number		Amount		Number			Amount			Capital		Deficit			(Loss)			Total
Balance at December 31, 2018		23,244,028	$	2,324		1	$	0		270,306	$	27		(103,334	)	$	(1,033	)	$	27,771,868	$	(28,669,686	)	$	127,673		$	(768,827	)
Issuance of stock for board and consulting fees		535,714		54																112,446								112,500
Directors deferred compensation granted		-																		21,000								21,000
Issuance of shares pursuant to exercise of warrants																												-
Accumulated Comprehensive Loss																									(6	)		(6	)
Net loss for year ended December 31, 2018																						(342,483	)					(342,483	)
Balance at March 31, 2019		23,779,742	$	2,378		1	$	0		270,306	$	27		(103,334	)	$	(1,033	)	$	27,905,314	$	(29,012,169	)	$	127,667		$	(977,816	)
Balance at December 31, 2017		19,925,322	$	1,993		1	$	0		270,306	$	27		(103,334	)	$	(1,033	)	$	26,921,574	$	(26,965,960	)	$	124,841		$	81,442
Issuance of stock for board and consulting fees		250,000		25																92,475								92,500
Directors deferred compensation granted																				21,000								21,000
Share based compensation issued to management/ employees																				4,871								4,871
Accumulated Comprehensive Loss																									(1,162	)		(1,162	)
Net loss for year ended December 31, 2018																						(488,821	)					(488,821	)
Balance at March 31, 2018		20,175,322	$	2,018		1	$	0		270,306	$	27		(103,334	)	$	(1,033	)	$	27,039,920	$	(27,454,781	)	$	123,679		$	(290,170	)

See accompanying notes to financial statements

5

VYCOR MEDICAL, INC.

Consolidated Statement of Cash Flows

(Unaudited)

	For the three months ended March 31,
	2019			2018
Cash flows from operating activities:
Net loss	$	(180,298	)	$	(326,636	)
Adjustments to reconcile net loss to cash used in operating activities:
Amortization of intangible assets		3,181			12,972
Depreciation of fixed assets		14,816			32,346
Inventory provision		3,139			-
Stock based compensation		133,500			25,871
Accrued liabilities - Related Party		-			112,500
Loss on foreign exchange		1,387			-
Changes in assets and liabilities:
Accounts receivable		(2,489	)		(20,061	)
Inventory		(54,403	)		12,880
Prepaid expenses		(24,980	)		(40,175	)
Security Deposits		-			1,056
Accrued interest - Related Party		4,758			-
Accrued interest - Other		11,836			11,836
Accounts payable		85,649			(11,200	)
Accrued liabilities - Other		(14,152	)		43,945
Cash used in operating activities		(18,056	)		(144,666	)
Cash flows from investing activities:
Purchase of fixed assets		(6,325	)		(13,230	)
Cash used in investing activities		(6,325	)		(13,230	)
Cash flows from financing activities:
Proceeds from Notes Payable - Related Party		17,873			30,000
Proceeds net of repayments Notes Payable - Other		21,829			25,166
Cash provided by financing activities		39,702			55,166
Effect of exchange rate changes on cash		(748	)		(1,549	)
Net increase (decrease) in cash		14,573			(104,279	)
Cash at beginning of period		86,481			206,213
Cash at end of period	$	101,054		$	101,934
Non-Cash Transactions:
Common stock issued to related party for payment of accrued liabilities	$	0		$	92,500

See Accompanying Notes to Financial Statements

6

VYCOR MEDICAL, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2019

(Unaudited)

1. BASIS OF PRESENTATION

The accompanying unaudited consolidated financial statements of Vycor Medical, Inc. (the “Company” or “Vycor”) 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, 2018 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, 2018.

The unaudited consolidated financial statements as of and for the three months ended March 31, 2019 and 2018, 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, results of operations and cash flows. The results of operations for the three months ended March 31, 2019 and 2018 are not necessarily indicative of the results to be expected for any other interim period or for the entire year.

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 $180,298 for the three months ended March 31, 2019 and has not generated cash flows from operations. As of March 31, 2019 the Company had a working capital deficiency of $328,799, excluding related party liabilities of $1,050,831. 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 a reduction in cash operating losses for both the Vycor Medical and NovaVision divisions. Included within the working capital deficiency above is a term note for $300,000 to EuroAmerican Investment Corp. (“EuroAmerican”), together with accrued interest of $244,601, which has a maturity date of December 31, 2019, having been extended on a number of occasions from its initial due date of June 11, 2011. The Company will intend to seek an extension to the note, although it is not known whether the note will be extended or the terms of any extension. However, the Company believes it may not have sufficient cash to meet its various cash needs through May 31, 2020 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.

7

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

The Company adopted Accounting Standards Codification 842, Leases ("ASC 842") in the first quarter of 2019. As a result the Company updated its significant accounting policies for leases below. Refer to Note 4 for additional information related to the Company's lease arrangements and the impact of the adoption of ASC 842 on the Company's consolidated financial statements.

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, other than as disclosed above, 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.

Leases

The Company has one leased buildings in Boca Raton, Florida that is classified as operating lease right-of use ("ROU") assets and operating lease liabilities in the Company's consolidated balance sheet. ROU assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date for leases exceeding 12 months. Minimum lease payments include only the fixed lease component of the agreement. Operating lease expense is recognized on a straight-line basis over the lease term and is included in cost of Selling, General and Administrative expenses.

The standard was effective for us beginning January 1, 2019. The Company elected the available practical expedients on adoption. The adoption had a material impact on our consolidated balance sheets, but did not have a material impact on our consolidated income statements. The most significant impact was the recognition of ROU assets and lease liabilities for operating leases. Finance leases are not material to the Company and were not impacted by the adoption of ASC 842, as finance lease liabilities and the corresponding assets were already recorded in the balance sheet under the previous guidance, ASC 840.

Net Loss Per Share

Basic net loss per share is computed by dividing net loss available to common shareholders 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:

	March 31, 2019		March 31, 2018
Stock options outstanding		700,000		720,000
Warrants to purchase common stock		3,717,826		6,829,386
Debentures convertible into common stock		2,593,337		2,364,765
Preferred shares convertible into common stock		1,272,052		1,272,052
Directors Deferred Compensation Plan		875,910		558,612
Total		9,159,125		11,744,815

8

3. NOTES PAYABLE

Related Parties Notes Payable

Related Party Notes Payable consists of:

	March 31, 2019		December 31, 2018
On June 25, 2018 the Company issued promissory notes to Peter Zachariou for $30,000. 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.	$	30,000	$	30,000
In March 2019 and between March 2018 and July 2018 the Company issued various promissory notes to Fountainhead Capital Management Limited for $180,873. 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. Four notes were extended for another twelve months on their due dates which will be due between March and May 2020 or on demand by the Payee.		180,873		163,000
Total Related Party Notes Payable	$	210,873	$	193,000

Other Notes Payable

Other Notes Payable consists of:

	March 31, 2019		December 31, 2018
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 March 19, 2019, the note was extended to December 31, 2019. See further note below.	$	300,000	$	300,000
Insurance policy finance agreements.		47,643		25,814
Total Notes Payable:	$	347,643	$	325,814

in January 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 was extended until December 31, 2019 in March 2019. The conversion terms of the Note were 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 2,595,337 shares of Common Stock as of March 31, 2019. 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.

9

4. LEASES

The Company recognized the following related to leases in its Unaudited Consolidated Balance Sheet at March 31, 2019 (in millions):

	Three Months Ended March 31,
	2019		2018
Operating Lease Assets
Current portion	$	50,791	$	-
–Long-term portion		19,145		-
	$	69,936	$	-
Operating Lease Liabilities
Current portion	$	46,857	$	-
Long-term portion		19,145		-
	$	66,002	$	-

Long term lease liabilities are due during 2020.

5. 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 March 31,
	2019		2018
Revenue:
Vycor Medical	$	297,106	$	277,811
NovaVision		53,560		47,290
	$	350,666	$	325,101
Gross Profit
Vycor Medical	$	266,923	$	253,569
NovaVision		47,545		42,189
	$	314,468	$	295,758

	March 31, 2019		December 31, 2018
Total Assets:
Vycor Medical	$	1,060,319	$	981,553
NovaVision		64,447		62,224
Total Assets	$	1,124,766	$	1,043,777

(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 March 31,
	2019		2018
Revenue:
United States	$	320,616	$	300,171
Europe		30,050		24,930
	$	350,666	$	325,101
Gross Profit
United States	$	288,291	$	273,581
Europe		26,177		22,177
	$	314,468	$	295,758

	March 31,		December 31,
	2019		2018
Total Assets:
United States	$	1,087,869	$	1,010,067
Europe		36,897		33,710
Total Assets	$	1,124,766	$	1,043,777

10

6. EQUITY

Common Stock and Stock Grants

During January to March 2019, the Company granted 99,999 shares of Common Stock (valued at $21,000) 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 March 31, 2019 these shares have yet to be issued.

During January to March 2019, the Company issued 535,714 shares of Common Stock to Fountainhead for fees of $112,500 in accordance with the terms of a consulting agreement.

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, 2018		3,717,826	$	0.27
Granted		-		-
Exercised		-		-
Cancelled or expired		-		-
Outstanding at March 31, 2019		3,717,826	$	0.27

STOCK OPTIONS:

				Weighted average
	Number of shares			exercise price per share
Outstanding at December 31, 2018		1,380,000		$	0.53
Granted		-			-
Exercised		-			-
Cancelled or expired		(680,000	)		(0.79	)
Outstanding at March 31, 2019		700,000		$	0.28

As of March 31, 2019, the weighted-average remaining contractual life of outstanding warrants and options is 0.87 and 2.21 years, respectively.

11

7. 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 three months ended March 31, 2019 and 2018, the Company recognized share-based compensation of $0 and $4,871 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 March 31, 2019 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 three months ended March 31, 2019 and 2018 was $133,500. The expense related to stock not issued during the periods ended March 31, 2019 and 2018 comprise: $21,000, respectively for both periods, related to stock granted but not issued to directors under the Directors Deferred Compensation Plan. As of March 31, 2019, there was $0 of total unrecognized compensation costs related to warrant and stock awards and non-vested options.

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.

12

The following assumptions were used in calculations of the Black-Scholes option pricing model for the three months ended March 31, 2019 and 2018:

	Three Months Ended March 31,
	2019			2018
Risk-free interest rates		-	%		2.41	%
Expected life		-			1.5 years
Expected dividends		-	%		0	%
Expected volatility		-	%		107	%
Vycor Common Stock fair value	$	-		$	0.49

8. 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 three months ended March 31, 2019 and 2018 was $24,706 and $25,168 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. Accordingly, the Company has made no provision for this liability in the three months ended March 31, 2019 and the year ended December 31, 2018 respectively.

9. CONSULTING AND OTHER AGREEMENTS

The following agreements were entered into or remained in force during the period ended March 31, 2019:

Consulting Agreement with Fountainhead

In March 2017 and effective April 1, 2017, the Company amended the Fountainhead Consulting Agreement (“the Amended Agreement”). Under the Amended Agreement, 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 $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.

During the three months ended March 31, 2019, under the terms of the Amended Agreement, Fountainhead received total fees of $112,500, which were paid through the issuance of 535,714 shares of Company Common Stock.

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10. RELATED PARTY TRANSACTIONS

Peter Zachariou and David Cantor, directors of the Company, are investment managers of Fountainhead which owned, at March 31, 2019, 54% of the Company’s Common Stock and 70% of the Company’s Preferred D Stock. Adrian Liddell, Chairman, is a consultant for Fountainhead.

During the three months ended March 31, 2019, under the terms of the Consulting Agreement referred to in note 8, the Company issued 535,714 shares of Common Stock to Fountainhead for fees of $112,500.

During the three months ended March 31, 2019 and 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 for both periods.

During the three months ended March 31, 2019 and 2018 the Company issued unsecured loan notes to Fountainhead for a total of $17,873 and $30,000, respectively. The loan notes bear interest at a rate of 10% and are due on demand or by their one-year anniversary.

During the three months ended March 31, 2018, under the terms of the Consulting Agreement referred to in note 8, the Company issued 250,000 shares of Common Stock to Fountainhead for fees of $92,500 accrued at December 31, 2017 and accrued fees of $112,500, which were paid after the period end through the issuance of 234,375 shares of Company Common Stock.

11. CONCENTRATION

Vycor Medical sells its neurosurgical devices in the US primarily direct to hospitals, and internationally through distributors who in turn sell to hospitals. For the three months ended March 31, 2019 sales to no customer represented over 10% of total sales and for the three months ended March 31, 2018 sales to one customer represented 14% of total sales.

12. 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.

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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 6 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.

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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 13485:2016 and MDSAP (Medical Device Single Audit Program) certified, 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.

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, and has 45 granted patents.

Strategy

The Company is continuing to execute on a plan to achieve a reduction in cash operating losses. For Vycor Medical this plan includes in particular: increasing market penetration in the US through targeted focus group programs with surgeons, closer cooperation with complementary product manufacturers and tight management of the distribution network; increasing international growth particularly in Europe and other territories where we are not represented or under represented; and continued new product development. The first phase of modification of the existing VBAS product range to make it more easy to use with the most common IGS systems was completed in September 2017 and has been well received by surgeons; we are continuing our roll-out of this model through hospital inventories. The second phase of the development of further IGS integration will be completed in 2019 and then subject to regulatory clearances and approvals. Upon regulatory approval and product release of this new VBAS AC the Company intends to conduct a multi-center study with selected surgeons who are familiar with the VBAS. We will also be exploring with surgeons and focus groups additional selected development work targeted at increasing the ease and applicability of our products to common procedures. For NovaVision, given the company’s resources, and the large size and diversity of its end markets, we believe that the most efficient way to tackle the distribution of its broad range of patient and professional products is by partnering with entities that have either direct access to the end users or a desire and financial wherewithal to leverage the NovaVision therapy platform into new indications.. The Company is in the process of identifying and talking to such partners. The range of alternatives for NovaVision could comprise distribution and marketing partnerships, licensing, merger, sale and/or a significant restructuring of its activities.

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Comparison of the Three Months Ended March 31, 2019 to the Three Months Ended March 31, 2018

Revenue and Gross Margin:

	Three months ended
	March 31,
	2019		2018		% Change
Revenue:
Vycor Medical	$	297,106	$	277,811		7	%
NovaVision	$	53,560	$	47,290		13	%
	$	350,666	$	325,101		8	%
Gross Profit
Vycor Medical	$	266,923	$	253,569		5	%
NovaVision	$	47,545	$	42,189		13	%
	$	314,468	$	295,758		6	%

Vycor Medical recorded revenue of $297,106 from the sale of its products for the three months ended March 31, 2019, an increase of $19,295 over the same period in 2018. Gross margin of 90% was recorded for the three months ended March 31, 2019 compared to 91% for the same period in 2018. Gross margin is primarily affected by the domestic versus international revenue mix.

NovaVision recorded revenues of $53,560 for the three months ended March 31, 2019, an increase of $6,270 over the same period in 2018, and gross margin of 89% for the period in 2019 and 2018. New patient starts increased by 17% over the same period in 2018.

Selling, General and Administrative Expenses:

Selling, general and administrative expenses decreased by $106,084 to $462,221 for the three months ended March 31, 2019 from $568,305 for the same period in 2018. 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 March 31, 2019 was $133,500, a decrease of $4,871 over $138,371 in 2018. Also included within Selling, General and Administrative Expenses are Sales Commissions, which increased by $6,887 from $48,938 in 2018 to $55,825 in 2019. The remaining Selling, General and Administrative expenses decreased by $108,100 from $380,996 to $272,896 in 2019.

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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
Commissions	$	6,887		$	-
Other (travel/regulatory/premises)		(1,052	)		-
Board, financial and scientific advisory		(2,722	)		-
Sales, marketing and travel		(13,999	)		-
Legal, professional and other consulting		(35,339	)		-
Payroll		(54,988	)		(4,871	)
Total change	$	(101,213	)	$	(4,871	)

Interest Expense:

Interest comprises expense on the Company’s debt and insurance policy financing. Related Party Interest expense for the three months ended March 31, 2019 was $4,758 compared to $0 for 2018. Other Interest income and expense for 2019 decreased by $72 to $11,954 from $12,026 for 2018.

Liquidity and Capital Resources

Liquidity

The following table shows cash flow and liquidity data for the periods ended March 31, 2019 and December 31, 2018:

	March 31, 2019			December 31, 2018			$ Change
Cash	$	101,054		$	86,481		$	14,573
Accounts receivable, inventory and other current assets	$	621,898		$	543,165		$	78,733
Total current liabilities	$	(2,102,582	)	$	(1,812,604	)	$	(289,978	)
Working capital	$	(1,379,630	)	$	(1,182,958	)	$	(196,672	)
Cash provided by financing activities	$	39,702		$	200,421		$	(160,719	)

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.

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The following table shows the principle components of cash used in operating activities during the three months ended March 31, 2019 and 2018, with a commentary of changes during the periods and known or anticipated future changes:

	March 31, 2019			March 31, 2018			$ Change
Net loss	$	(180,298	)	$	(326,636	)	$	146,338
Adjustments to reconcile net loss to cash used in operating activities:
Amortization and depreciation of assets	$	17,997		$	45,318		$	(27,321	)
Share based compensation	$	133,500		$	25,871		$	107,629
Accrued share based compensation	$	0		$	112,500		$	(112,500	)
Other	$	7,666		$	0		$	7,666
	$	159,163		$	183,689		$	(24,526	)
Net loss adjusted for non-cash items	$	(21,135	)	$	(142,947	)	$	121,812
Changes in working capital
Accounts receivable, accounts payable and accrued liabilities	$	69,007		$	13,740		$	55,267
Inventory	$	(57,543	)	$	12,880		$	(70,423	)
Prepaid expenses and net insurance financing repayments	$	(3,151	)	$	(15,009	)	$	11,858
Accrued interest (not paid in cash)	$	16,595		$	11,836		$	4,759
	$	24,908		$	23,447		$	1,461
Cash provided by (used in) operating activities, adjusted for net insurance repayments	$	3,773		$	(119,500	)	$	123,273

The adjustments to reconcile net loss to cash of $159,163 in the period have no impact on liquidity. The decrease in net loss (as adjusted for non-cash items) by $121,812 to $21,135 was primarily a result of reduced expenses, as well as increased revenues. There was an increase in accounts payable offset by an increase in pre-payments as a result of annual expense contract renewals such as insurances and licenses during the first three months.

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 $75,000 was purchased during the three months ended March 31^st, 2019. The Company anticipates completing the second phase of this project during approximately the next six months and as a result will purchase additional new inventory of approximately $40,000.

Investing Activities. Cash used in investing activities for the three months ended March 31, 2019 was $6,325, 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 2019, including work to obtain regulatory clearances and approvals, of approximately $120,000.

Financing Activities. During the period ending March 31, 2019 the Company received funds of $17,873 in respect of loans from Fountainhead.

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 $180,298 for the three months ended March 31, 2019 and has not generated cash flows from operations. As of March 31, 2019 the Company had a working capital deficiency of $328,799, excluding related party liabilities of $1,050,831. 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.

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As described earlier in this ITEM 2 “Strategy”, the Company is executing on a plan to achieve a reduction in cash operating losses for both the Vycor Medical and NovaVision divisions. For Vycor Medical this plan includes in particular: increasing market penetration in the US through targeted focus group programs with surgeons, closer cooperation with complementary product manufacturers and tight management of the distribution network; increasing international growth particularly in Europe and other territories where we are not represented or under represented; and continued new product development. The first phase of modification of the existing VBAS product range to make it more easy to use with the most common IGS systems was completed in September 2017 and has been well received by surgeons; we are continuing our roll-out of this model through hospital inventories. The second phase of the development of further IGS integration will be completed in 2019. Upon regulatory approval and product release of this new VBAS AC the Company intends to conduct a multi-center study with selected surgeons who are familiar with the VBAS. We will also be exploring with surgeons and focus groups additional selected development work targeted at increasing the ease and applicability of our products to common procedures. For NovaVision, given the company’s resources, and the large size and diversity of its end markets, we believe that the most efficient way to tackle the distribution of its broad range of patient and professional products is by partnering with entities that have either direct access to the end users or a desire and financial wherewithal to leverage the NovaVision therapy platform into new indications. The Company is in the process of identifying and talking to such partners. The range of alternatives for NovaVision could comprise distribution and marketing partnerships, licensing, merger, sale and/or a significant restructuring of its activities.

However, the Company believes it may not have sufficient cash to meet its various cash needs through May 31, 2020 unless the Company is able to obtain additional cash from the issuance of debt or equity securities. Included within the working capital deficiency above is a term note for $300,000 to EuroAmerican Investment Corp. (“EuroAmerican”), together with accrued interest of $244,601, which has a maturity date of December 31, 2019, having been extended on a number of occasions from its initial due date of June 11, 2011. The Company would intend to seek an extension to the note, although it is not known whether the note will be extended or the terms of any extension. 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, 2018.

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.

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(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 May 10, 2019, 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
FHC Management Fees	Common	535,714

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.

21

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 May 13, 2019.

Vycor Medical, Inc.
(Registrant)
By:	/s/ Peter C. Zachariou
	Peter C. Zachariou
	Chief Executive Officer and Director (Principal Executive Officer)
Date	May 13, 2019
By:	/s/ Adrian Liddell
	Adrian Liddell
	Chairman of the Board and Director
	(Principal Financial and Accounting Officer)
Date	May 13, 2019

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EX-31.1

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 March 31, 2019 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

5. 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: May 13, 2019

/s/ Peter Zachariou

Peter C. Zachariou

Principal Executive Officer

EX-31.2

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 March 31, 2019 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

5. 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: May 13, 2019

/s/ Adrian Liddell

Adrian Liddell

Principal Financial Officer

EX-32.2

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 March 31, 2019 (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: May 13, 2019

/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

EXHIBIT 32.2

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 March 31, 2019 (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: May 13, 2019

/s/ Adrian Liddell

Adrian Liddell

Principal Accounting 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.

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Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 10, 2019
Document And Entity Information
Entity Registrant Name	VYCOR MEDICAL INC
Entity Central Index Key	0001424768
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		23,681,408
Trading Symbol	VYCO
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2019

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Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Current Assets
Cash	$ 101,054	$ 86,481
Trade accounts receivable	259,957	257,468
Inventory	254,386	203,122
Prepaid expenses and other current assets	154,412	82,575
Total Current Assets	769,809	629,646
Fixed assets, net	363,505	372,641
Intangible and Other assets:
Patents, net of accumulated amortization	32,309	35,303
Website, net of accumulated amortization		187
Other Assets - Long Term	25,145	6,000
Total Intangible and Other assets	38,309	41,490
TOTAL ASSETS	1,190,768	1,043,777
Current Liabilities
Accounts payable	178,604	92,955
Accrued interest: Other	244,601	232,765
Accrued interest: Related party	29,033	24,274
Accrued liabilities - Other	327,760	295,056
Accrued liabilities - Related Party	810,925	648,740
Notes payable: Other	347,643	325,814
Notes payable: Related Party	210,873	193,000
Total Current Liabilities	2,149,439	1,812,604
Long Term Liabilities - Capital Lease	19,145
STOCKHOLDERS' DEFICIENCY
Preferred stock, $0.0001 par value, 10,000,000 shares authorized, 270,306 and 270,306 issued and outstanding as at March 31, 2019 and December 31, 2018 respectively	27	27
Common Stock, $0.0001 par value, 55,000,000 shares authorized at March 31, 2019 and December 31, 2018, 23,779,742 and 23,244,028 shares issued and 23,676,408 and 23,140,694 outstanding at March 31, 2019 and December 31, 2018 respectively	2,378	2,324
Additional Paid-in Capital	27,905,314	27,771,868
Treasury Stock (103,334 shares of Common Stock as at March 31, 2019 and December 31, 2018 respectively, at cost)	(1,033)	(1,033)
Accumulated Deficit	(29,012,169)	(28,669,686)
Accumulated Other Comprehensive Income (Loss)	127,667	127,673
Total Stockholders' Equity Deficiency	(977,816)	(768,827)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY	$ 1,190,768	$ 1,043,777

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Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
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	23,779,742	23,244,028
Common stock, shares outstanding	23,676,408	23,140,694
Treasury stock, shares	103,334	103,334

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Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Revenue	$ 350,666	$ 325,101
Cost of Goods Sold	36,198	29,343
Gross Profit	314,468	295,758
Operating expenses:
Depreciation and Amortization	15,085	42,003
Selling, General and administrative	462,221	568,305
Total Operating expenses	477,306	610,308
Operating loss	(162,838)	(314,550)
Other income (expense)
Interest expense: Related Party	(4,759)
Interest expense: Other	(11,953)	(12,026)
Loss on foreign currency exchange	(748)	(60)
Total Other Income (expense)	(17,460)	(12,086)
Loss Before Credit for Income Taxes	(180,298)	(326,636)
Credit for income taxes
Net Loss	(180,298)	(326,636)
Preferred stock dividends	(162,185)	(162,185)
Net Loss available to common stockholders	(342,483)	(488,821)
Other Comprehensive Loss
Foreign Currency Translation Adjustment	(6)	(1,162)
Comprehensive Loss	$ (342,489)	$ (489,983)
Net Loss Per Share
Basic and diluted	$ (0.01)	$ (0.02)
Weighted Average Number of Shares Outstanding - Basic and Diluted	23,146,646	19,985,877

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Consolidated Statement of Stockholders' Deficiency (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Common Stock [Member]
Balance	$ 2,324	$ 1,993
Balance, shares	23,244,028	19,925,322
Issuance of stock for board and consulting fees	$ 54	$ 25
Issuance of stock for board and consulting fees, shares	535,714	250,000
Balance	$ 2,378	$ 2,018
Balance, shares	23,779,742	20,175,322
Preferred C [Member]
Balance	$ 0	$ 0
Balance, shares	1	1
Balance	$ 0	$ 0
Balance, shares	1	1
Preferred D [Member]
Balance	$ 27	$ 27
Balance, shares	270,306	270,306
Balance	$ 27	$ 27
Balance, shares	270,306	270,306
Treasury Stock [Member]
Balance	$ (1,033)	$ (1,033)
Balance, shares	(103,334)	(103,334)
Balance	$ (1,033)	$ (1,033)
Balance, shares	(103,334)	(103,334)
Additional Paid-In Capital [Member]
Balance	$ 27,771,868	$ 26,921,574
Issuance of stock for board and consulting fees	112,446	92,475
Directors deferred compensation granted	21,000	21,000
Share based compensation issued to management/employees		4,871
Balance	27,905,314	27,039,920
Accumulated Deficit [Member]
Balance	(28,669,686)	(26,965,960)
Net loss	(342,483)	(488,821)
Balance	(29,012,169)	(27,454,781)
Accumulated Other Comprehensive Loss [Member]
Balance	127,673	124,841
Accumulated Comprehensive Loss	(6)	(1,162)
Balance	127,667	123,679
Balance	(768,827)	81,442
Issuance of stock for board and consulting fees	112,500	92,500
Directors deferred compensation granted	21,000	21,000
Issuance of shares pursuant to exercise of warrants
Share based compensation issued to management/employees		4,871
Accumulated Comprehensive Loss	(6)	(1,162)
Net loss	(342,483)	(488,821)
Balance	$ (977,816)	$ (290,170)

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Consolidated Statement of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net loss	$ (180,298)	$ (326,636)
Adjustments to reconcile net loss to cash used in operating activities:
Amortization of intangible assets	3,181	12,972
Depreciation of fixed assets	14,816	32,346
Inventory provision	3,139
Stock based compensation	133,500	25,871
Accrued liabilities - Related Party		112,500
Loss on foreign exchange	1,387
Changes in assets and liabilities:
Accounts receivable	(2,489)	(20,061)
Inventory	(54,403)	12,880
Prepaid expenses	(24,980)	(40,175)
Security Deposits		1,056
Accrued interest - Related Party	4,758
Accrued interest - Other	11,836	11,836
Accounts payable	85,649	(11,200)
Accrued liabilities - Other	(14,152)	43,945
Cash used in operating activities	(18,056)	(144,666)
Cash flows from investing activities:
Purchase of fixed assets	(6,325)	(13,230)
Cash used in investing activities	(6,325)	(13,230)
Cash flows from financing activities:
Proceeds from Notes Payable - Related Party	17,873	30,000
Proceeds net of repayments Notes Payable - Other	21,829	25,166
Cash provided by financing activities	39,702	55,166
Effect of exchange rate changes on cash	(748)	(1,549)
Net increase (decrease) in cash	14,573	(104,279)
Cash at beginning of period	86,481	206,213
Cash at end of period	101,054	101,934
Non-Cash Transactions:
Common stock issued to related party for payment of accrued liabilities	$ 0	$ 92,500

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Basis of Presentation

3 Months Ended

Mar. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

1. BASIS OF PRESENTATION

The accompanying unaudited consolidated financial statements of Vycor Medical, Inc. (the “Company” or “Vycor”) 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, 2018 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, 2018.

The unaudited consolidated financial statements as of and for the three months ended March 31, 2019 and 2018, 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, results of operations and cash flows. The results of operations for the three months ended March 31, 2019 and 2018 are not necessarily indicative of the results to be expected for any other interim period or for the entire year.

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 $180,298 for the three months ended March 31, 2019 and has not generated cash flows from operations. As of March 31, 2019 the Company had a working capital deficiency of $328,799, excluding related party liabilities of $1,050,831. 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 a reduction in cash operating losses for both the Vycor Medical and NovaVision divisions. Included within the working capital deficiency above is a term note for $300,000 to EuroAmerican Investment Corp. (“EuroAmerican”), together with accrued interest of $244,601, which has a maturity date of December 31, 2019, having been extended on a number of occasions from its initial due date of June 11, 2011. The Company will intend to seek an extension to the note, although it is not known whether the note will be extended or the terms of any extension. However, the Company believes it may not have sufficient cash to meet its various cash needs through May 31, 2020 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.

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Significant Accounting Policies

3 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

Significant Accounting Policies

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

The Company adopted Accounting Standards Codification 842, Leases ("ASC 842") in the first quarter of 2019. As a result the Company updated its significant accounting policies for leases below. Refer to Note 4 for additional information related to the Company's lease arrangements and the impact of the adoption of ASC 842 on the Company's consolidated financial statements.

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, other than as disclosed above, 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.

Leases

The Company has one leased buildings in Boca Raton, Florida that is classified as operating lease right-of use ("ROU") assets and operating lease liabilities in the Company's consolidated balance sheet. ROU assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date for leases exceeding 12 months. Minimum lease payments include only the fixed lease component of the agreement. Operating lease expense is recognized on a straight-line basis over the lease term and is included in cost of Selling, General and Administrative expenses.

The standard was effective for us beginning January 1, 2019. The Company elected the available practical expedients on adoption. The adoption had a material impact on our consolidated balance sheets, but did not have a material impact on our consolidated income statements. The most significant impact was the recognition of ROU assets and lease liabilities for operating leases. Finance leases are not material to the Company and were not impacted by the adoption of ASC 842, as finance lease liabilities and the corresponding assets were already recorded in the balance sheet under the previous guidance, ASC 840.

Net Loss Per Share

Basic net loss per share is computed by dividing net loss available to common shareholders 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:

	March 31, 2019		March 31, 2018
Stock options outstanding		700,000		720,000
Warrants to purchase common stock		3,717,826		6,829,386
Debentures convertible into common stock		2,593,337		2,364,765
Preferred shares convertible into common stock		1,272,052		1,272,052
Directors Deferred Compensation Plan		875,910		558,612
Total		9,159,125		11,744,815

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Notes Payable

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Notes Payable

3. NOTES PAYABLE

Related Parties Notes Payable

Related Party Notes Payable consists of:

	March 31, 2019		December 31, 2018
On June 25, 2018 the Company issued promissory notes to Peter Zachariou for $30,000. 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.	$	30,000	$	30,000
In March 2019 and between March 2018 and July 2018 the Company issued various promissory notes to Fountainhead Capital Management Limited for $180,873. 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. Four notes were extended for another twelve months on their due dates which will be due between March and May 2020 or on demand by the Payee.		180,873		163,000
Total Related Party Notes Payable	$	210,873	$	193,000

Other Notes Payable

Other Notes Payable consists of:

	March 31, 2019		December 31, 2018
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 March 19, 2019, the note was extended to December 31, 2019. See further note below.	$	300,000	$	300,000
Insurance policy finance agreements.		47,643		25,814
Total Notes Payable:	$	347,643	$	325,814

in January 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 was extended until December 31, 2019 in March 2019. The conversion terms of the Note were 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 2,595,337 shares of Common Stock as of March 31, 2019. 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.

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Lease

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Lease

4. LEASES

The Company recognized the following related to leases in its Unaudited Consolidated Balance Sheet at March 31, 2019 (in millions):

	Three Months Ended March 31,
	2019		2018
Operating Lease Assets
Current portion	$	50,791	$	-
–Long-term portion		19,145		-
	$	69,936	$	-
Operating Lease Liabilities
Current portion	$	46,857	$	-
Long-term portion		19,145		-
	$	66,002	$	-

Long term lease liabilities are due during 2020.

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Segment Reporting, Geographical Information

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Segment Reporting, Geographical Information

5. 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 March 31,
	2019		2018
Revenue:
Vycor Medical	$	297,106	$	277,811
NovaVision		53,560		47,290
	$	350,666	$	325,101
Gross Profit
Vycor Medical	$	266,923	$	253,569
NovaVision		47,545		42,189
	$	314,468	$	295,758

	March 31, 2019		December 31, 2018
Total Assets:
Vycor Medical	$	1,060,319	$	981,553
NovaVision		64,447		62,224
Total Assets	$	1,124,766	$	1,043,777

(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 March 31,
	2019		2018
Revenue:
United States	$	320,616	$	300,171
Europe		30,050		24,930
	$	350,666	$	325,101
Gross Profit
United States	$	288,291	$	273,581
Europe		26,177		22,177
	$	314,468	$	295,758

	March 31,		December 31,
	2019		2018
Total Assets:
United States	$	1,087,869	$	1,010,067
Europe		36,897		33,710
Total Assets	$	1,124,766	$	1,043,777

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Equity

3 Months Ended

Mar. 31, 2019

Equity [Abstract]

Equity

6. EQUITY

Common Stock and Stock Grants

During January to March 2019, the Company granted 99,999 shares of Common Stock (valued at $21,000) 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 March 31, 2019 these shares have yet to be issued.

During January to March 2019, the Company issued 535,714 shares of Common Stock to Fountainhead for fees of $112,500 in accordance with the terms of a consulting agreement.

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, 2018		3,717,826	$	0.27
Granted		-		-
Exercised		-		-
Cancelled or expired		-		-
Outstanding at March 31, 2019		3,717,826	$	0.27

STOCK OPTIONS:

				Weighted average
	Number of shares			exercise price per share
Outstanding at December 31, 2018		1,380,000		$	0.53
Granted		-			-
Exercised		-			-
Cancelled or expired		(680,000	)		(0.79	)
Outstanding at March 31, 2019		700,000		$	0.28

As of March 31, 2019, the weighted-average remaining contractual life of outstanding warrants and options is 0.87 and 2.21 years, respectively.

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Share-Based Compensation

3 Months Ended

Mar. 31, 2019

Share-based Payment Arrangement [Abstract]

Share-Based Compensation

7. 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 three months ended March 31, 2019 and 2018, the Company recognized share-based compensation of $0 and $4,871 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 March 31, 2019 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 three months ended March 31, 2019 and 2018 was $133,500. The expense related to stock not issued during the periods ended March 31, 2019 and 2018 comprise: $21,000, respectively for both periods, related to stock granted but not issued to directors under the Directors Deferred Compensation Plan. As of March 31, 2019, there was $0 of total unrecognized compensation costs related to warrant and stock awards and non-vested options.

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 three months ended March 31, 2019 and 2018:

	Three Months Ended March 31,
	2019			2018
Risk-free interest rates		-	%		2.41	%
Expected life		-			1.5 years
Expected dividends		-	%		0	%
Expected volatility		-	%		107	%
Vycor Common Stock fair value	$	-		$	0.49

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Commitments and Contingencies

3 Months Ended

Mar. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

8. 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 three months ended March 31, 2019 and 2018 was $24,706 and $25,168 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. Accordingly, the Company has made no provision for this liability in the three months ended March 31, 2019 and the year ended December 31, 2018 respectively.

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Consulting and Other Agreements

3 Months Ended

Mar. 31, 2019

Consulting And Other Agreements

Consulting and Other Agreements

9. CONSULTING AND OTHER AGREEMENTS

The following agreements were entered into or remained in force during the period ended March 31, 2019:

Consulting Agreement with Fountainhead

In March 2017 and effective April 1, 2017, the Company amended the Fountainhead Consulting Agreement (“the Amended Agreement”). Under the Amended Agreement, 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 $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.

During the three months ended March 31, 2019, under the terms of the Amended Agreement, Fountainhead received total fees of $112,500, which were paid through the issuance of 535,714 shares of Company Common Stock.

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Related Party Transactions

3 Months Ended

Mar. 31, 2019

Related Party Transactions [Abstract]

Related Party Transactions

10. RELATED PARTY TRANSACTIONS

Peter Zachariou and David Cantor, directors of the Company, are investment managers of Fountainhead which owned, at March 31, 2019, 54% of the Company’s Common Stock and 70% of the Company’s Preferred D Stock. Adrian Liddell, Chairman, is a consultant for Fountainhead.

During the three months ended March 31, 2019, under the terms of the Consulting Agreement referred to in note 8, the Company issued 535,714 shares of Common Stock to Fountainhead for fees of $112,500.

During the three months ended March 31, 2019 and 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 for both periods.

During the three months ended March 31, 2019 and 2018 the Company issued unsecured loan notes to Fountainhead for a total of $17,873 and $30,000, respectively. The loan notes bear interest at a rate of 10% and are due on demand or by their one-year anniversary.

During the three months ended March 31, 2018, under the terms of the Consulting Agreement referred to in note 8, the Company issued 250,000 shares of Common Stock to Fountainhead for fees of $92,500 accrued at December 31, 2017 and accrued fees of $112,500, which were paid after the period end through the issuance of 234,375 shares of Company Common Stock.

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Concentration

3 Months Ended

Mar. 31, 2019

Risks and Uncertainties [Abstract]

Concentration

11. CONCENTRATION

Vycor Medical sells its neurosurgical devices in the US primarily direct to hospitals, and internationally through distributors who in turn sell to hospitals. For the three months ended March 31, 2019 sales to no customer represented over 10% of total sales and for the three months ended March 31, 2018 sales to one customer represented 14% of total sales.

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Subsequent Events

3 Months Ended

Mar. 31, 2019

Subsequent Events [Abstract]

Subsequent Events

12. 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.

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Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

Principles of Consolidation

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

Recent Accounting Pronouncements

The Company adopted Accounting Standards Codification 842, Leases ("ASC 842") in the first quarter of 2019. As a result the Company updated its significant accounting policies for leases below. Refer to Note 4 for additional information related to the Company's lease arrangements and the impact of the adoption of ASC 842 on the Company's consolidated financial statements.

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, other than as disclosed above, 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.

Leases

Leases

The Company has one leased buildings in Boca Raton, Florida that is classified as operating lease right-of use ("ROU") assets and operating lease liabilities in the Company's consolidated balance sheet. ROU assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date for leases exceeding 12 months. Minimum lease payments include only the fixed lease component of the agreement. Operating lease expense is recognized on a straight-line basis over the lease term and is included in cost of Selling, General and Administrative expenses.

The standard was effective for us beginning January 1, 2019. The Company elected the available practical expedients on adoption. The adoption had a material impact on our consolidated balance sheets, but did not have a material impact on our consolidated income statements. The most significant impact was the recognition of ROU assets and lease liabilities for operating leases. Finance leases are not material to the Company and were not impacted by the adoption of ASC 842, as finance lease liabilities and the corresponding assets were already recorded in the balance sheet under the previous guidance, ASC 840.

Net Loss Per Share

Net Loss Per Share

Basic net loss per share is computed by dividing net loss available to common shareholders 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:

	March 31, 2019		March 31, 2018
Stock options outstanding		700,000		720,000
Warrants to purchase common stock		3,717,826		6,829,386
Debentures convertible into common stock		2,593,337		2,364,765
Preferred shares convertible into common stock		1,272,052		1,272,052
Directors Deferred Compensation Plan		875,910		558,612
Total		9,159,125		11,744,815

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Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2019

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:

	March 31, 2019		March 31, 2018
Stock options outstanding		700,000		720,000
Warrants to purchase common stock		3,717,826		6,829,386
Debentures convertible into common stock		2,593,337		2,364,765
Preferred shares convertible into common stock		1,272,052		1,272,052
Directors Deferred Compensation Plan		875,910		558,612
Total		9,159,125		11,744,815

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Notes Payable (Tables)

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Summary of Notes Payable

Related Party Notes Payable consists of:

	March 31, 2019		December 31, 2018
On June 25, 2018 the Company issued promissory notes to Peter Zachariou for $30,000. 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.	$	30,000	$	30,000
In March 2019 and between March 2018 and July 2018 the Company issued various promissory notes to Fountainhead Capital Management Limited for $180,873. 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. Four notes were extended for another twelve months on their due dates which will be due between March and May 2020 or on demand by the Payee.		180,873		163,000
Total Related Party Notes Payable	$	210,873	$	193,000

Other Notes Payable

Other Notes Payable consists of:

	March 31, 2019		December 31, 2018
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 March 19, 2019, the note was extended to December 31, 2019. See further note below.	$	300,000	$	300,000
Insurance policy finance agreements.		47,643		25,814
Total Notes Payable:	$	347,643	$	325,814

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Lease (Tables)

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Schedule of Supplemental Balance Sheet Information Related to Leases

The Company recognized the following related to leases in its Unaudited Consolidated Balance Sheet at March 31, 2019 (in millions):

	Three Months Ended March 31,
	2019		2018
Operating Lease Assets
Current portion	$	50,791	$	-
–Long-term portion		19,145		-
	$	69,936	$	-
Operating Lease Liabilities
Current portion	$	46,857	$	-
Long-term portion		19,145		-
	$	66,002	$	-

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Segment Reporting, Geographical Information (Tables)

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Schedule of Business Segments Information

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 March 31,
	2019		2018
Revenue:
Vycor Medical	$	297,106	$	277,811
NovaVision		53,560		47,290
	$	350,666	$	325,101
Gross Profit
Vycor Medical	$	266,923	$	253,569
NovaVision		47,545		42,189
	$	314,468	$	295,758

	March 31, 2019		December 31, 2018
Total Assets:
Vycor Medical	$	1,060,319	$	981,553
NovaVision		64,447		62,224
Total Assets	$	1,124,766	$	1,043,777

Summary of 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 March 31,
	2019		2018
Revenue:
United States	$	320,616	$	300,171
Europe		30,050		24,930
	$	350,666	$	325,101
Gross Profit
United States	$	288,291	$	273,581
Europe		26,177		22,177
	$	314,468	$	295,758

	March 31,		December 31,
	2019		2018
Total Assets:
United States	$	1,087,869	$	1,010,067
Europe		36,897		33,710
Total Assets	$	1,124,766	$	1,043,777

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Equity (Tables)

3 Months Ended

Mar. 31, 2019

Stock Options [Member]

Schedule of Warrants and Options

STOCK OPTIONS:

				Weighted average
	Number of shares			exercise price per share
Outstanding at December 31, 2018		1,380,000		$	0.53
Granted		-			-
Exercised		-			-
Cancelled or expired		(680,000	)		(0.79	)
Outstanding at March 31, 2019		700,000		$	0.28

Stock Warrants [Member]

Schedule of Warrants and Options

STOCK WARRANTS:

			Weighted average
	Number of shares		exercise price per share
Outstanding at December 31, 2018		3,717,826	$	0.27
Granted		-		-
Exercised		-		-
Cancelled or expired		-		-
Outstanding at March 31, 2019		3,717,826	$	0.27

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Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2019

Share-based Payment Arrangement [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 three months ended March 31, 2019 and 2018:

	Three Months Ended March 31,
	2019			2018
Risk-free interest rates		-	%		2.41	%
Expected life		-			1.5 years
Expected dividends		-	%		0	%
Expected volatility		-	%		107	%
Vycor Common Stock fair value	$	-		$	0.49

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Basis of Presentation (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net loss	$ 180,298	$ 326,636
Working capital deficiency	328,799
Related party liabilities	1,050,831
EuroAmerican Investment Corp [Member]
Term note	300,000
Accrued interest	$ 244,601
Maturity date	Dec. 31, 2019

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Significant Accounting Policies - Schedule of Common Stock Not Included in Calculation of Diluted Net Loss per Share (Details) - shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Potential shares of common stock that are not included in the calculation of diluted net loss per share	9,159,125	11,744,815
Stock Options Outstanding [Member]
Potential shares of common stock that are not included in the calculation of diluted net loss per share	700,000	720,000
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	6,829,386
Debentures Convertible into Common Stock [Member]
Potential shares of common stock that are not included in the calculation of diluted net loss per share	2,593,337	2,364,765
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	875,910	558,612

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Notes Payable (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2019	Jan. 31, 2018
EuroAmerican Investment Corp [Member]
Debt conversion shares issued	2,595,337
EuroAmerican Investment Corp [Member]
Note payable other		$ 300,000
Conversion price		$ 0.21
EuroAmerican Investment Corp [Member] | Stock Warrants [Member]
Warrant to purchase common stock		2,308,405
Warrant exercise price		$ 0.27

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Notes Payable - Summary of Notes Payable (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Total Related Party Notes Payable	$ 210,873	$ 193,000
Total Other Notes Payable	347,643	325,814
Peter Zachariou [Member]
Total Related Party Notes Payable	30,000	30,000
Fountainhead Capital Management Limited [Member]
Total Related Party Notes Payable	180,873	163,000
Insurance Policy Finance Agreements [Member]
Total Other Notes Payable	47,643	25,814
EuroAmerican Investment Corp [Member]
Total Other Notes Payable	$ 300,000	$ 300,000

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Notes Payable - Summary of Notes Payable (Details) (Parenthetical) - USD ($)			3 Months Ended	5 Months Ended
	Jun. 25, 2018	Mar. 25, 2011	Mar. 31, 2019	Jul. 31, 2018
Peter Zachariou [Member]
Promissory notes issued	$ 30,000
Notes interest rate	10.00%
Fountainhead Capital Management Limited [Member]
Promissory notes issued			$ 180,873	$ 180,873
Notes interest rate			10.00%	10.00%
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, 2019

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Lease (Details Narrative)	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Operating lease Long term lease liabilities, description	Long term lease liabilities are due during 2020.

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Lease - Schedule of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Notes to Financial Statements
Operating lease assets current portion	$ 50,791
Operating lease assets –long-term portion	19,145
Operating lease assets	69,936
Operating lease liabilities current portion	46,857
Operating lease liabilities long-term portion	19,145
Operating lease liabilities	$ 66,002

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Segment Reporting, Geographical Information (Details Narrative)	12 Months Ended
	Dec. 30, 2018 Number
Segment Reporting [Abstract]
Number of reportable segments	2

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Segment Reporting, Geographical Information - Schedule of Business Segments Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Total Revenue	$ 350,666	$ 325,101
Total Gross Profit	314,468	295,758
Total Assets	1,190,768		$ 1,043,777
Vycor Medical [Member]
Total Revenue	297,106	277,811
Total Gross Profit	266,923	253,569
Total Assets	1,060,319		981,553
NovaVision [Member]
Total Revenue	53,560	47,290
Total Gross Profit	47,545	$ 42,189
Total Assets	$ 64,447		$ 62,224

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Segment Reporting, Geographical Information - Summary of Geographic Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Total Revenue	$ 350,666	$ 325,101
Total Gross Profit	314,468	295,758
Total Assets	1,190,768		$ 1,043,777
United States [Member]
Total Revenue	320,616	300,171
Total Gross Profit	288,291	273,581
Total Assets	1,087,869		1,010,067
Europe [Member]
Total Revenue	30,050	24,930
Total Gross Profit	26,177	$ 22,177
Total Assets	$ 36,897		$ 33,710

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Equity (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2017
Weighted-average remaining contractual life of outstanding warrants	10 months 14 days
Weighted-average remaining contractual life of outstanding options	2 years 2 months 16 days
Fountainhead [Member] | Consulting Agreement [Member]
Number of common stock issued for fees	535,714	250,000	234,375
Number of common stock issued for fees, value	$ 112,500	$ 92,500	$ 112,500
Non Employee Directors [Member]
Shares issued for services	99,999
Value of shares issued for services	$ 21,000

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Equity - Schedule of Warrants and Options (Details)	3 Months Ended
	Mar. 31, 2019 $ / shares shares
Stock Options [Member]
Number of shares Outstanding, Beginning Balance | shares	1,380,000
Number of shares, Granted | shares
Number of shares, Exercised | shares
Number of shares, Cancelled or expired | shares	(680,000)
Number of shares Outstanding, Ending Balance | shares	700,000
Weighted average exercise price per share, Outstanding, Beginning Balance | $ / shares	$ 0.53
Weighted average exercise price per share, Granted | $ / shares
Weighted average exercise price per share, Exercised | $ / shares
Weighted average exercise price per share, Cancelled or expired | $ / shares	(0.79)
Weighted average exercise price per share, Outstanding, Ending balance | $ / shares	$ 0.28
Stock Warrants [Member]
Number of shares Outstanding, Beginning Balance | shares	3,717,826
Number of shares, Granted | shares
Number of shares, Exercised | shares
Number of shares, Cancelled or expired | shares
Number of shares Outstanding, Ending Balance | shares	3,717,826
Weighted average exercise price per share, Outstanding, Beginning Balance | $ / shares	$ 0.27
Weighted average exercise price per share, Granted | $ / shares
Weighted average exercise price per share, Exercised | $ / shares
Weighted average exercise price per share, Cancelled or expired | $ / shares
Weighted average exercise price per share, Outstanding, Ending balance | $ / shares	$ 0.27

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Share-Based Compensation (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Non-employee [Member]
Share-based compensation	$ 133,500	$ 133,500
Total unrecognized compensation costs	0
Directors [Member] | Deferred Compensation Plan [Member]
Stock granted but not issued	21,000	21,000
Employee Stock Options [Member]
Share-based compensation	$ 0	$ 4,871

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Share-Based Compensation - Schedule of Assumptions Used in Calculations of Black-Scholes Option Pricing Model (Details) - $ / shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share-based Payment Arrangement [Abstract]
Risk-free interest rates	0.00%	2.41%
Expected life	0 years	1 year 6 months
Expected dividends	0.00%	0.00%
Expected volatility	0.00%	107.00%
Vycor Common Stock fair value	$ 0.00	$ 0.49

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Commitments and Contingencies (Details Narrative)	3 Months Ended
	Mar. 31, 2019 USD ($)	Mar. 31, 2018 USD ($)	Jun. 30, 2012 USD ($)	Jun. 30, 2012 EUR (€)
Rent expense	$ 5,700
Lease termination date	Sep. 30, 2020
Trade tax			$ 85,000
German [Member]
Rent expense	$ 24,706	$ 25,168
Euro Currency [Member]
Trade tax | €				€ 75,000

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Consulting and Other Agreements (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2017
Stock option cash	$ 133,500	$ 25,871
Fountainhead Consulting Agreement [Member] | March 2017 and Effective April 1, 2017 [Member]
Payment of fees	450,000
Stock option cash	$ 5,000
Common stock exercise price	$ 0.21
Consulting Agreement [Member] | Fountainhead [Member]
Number of common stock issued for fees, value	$ 112,500	$ 92,500	$ 112,500
Number of common stock issued for fees	535,714	250,000	234,375

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Related Party Transactions (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2017
Consulting Agreement [Member] | Fountainhead [Member]
Number of common stock issued for fees	535,714	250,000	234,375
Number of common stock issued for fees, value	$ 112,500	$ 92,500	$ 112,500
Preferred D Stock[Member]
Accrued dividends	162,185	162,185
Fountainhead [Member] | Unsecured Loan [Member]
Unsecured loan notes issued	$ 17,873	30,000
Unsecured loan notes interest rate	10.00%
Fountainhead [Member] | Directors [Member]
Equity ownership percentage	54.00%
Fountainhead [Member] | Directors [Member] | Series D Preferred D Stock [Member]
Equity ownership percentage	70.00%
Related Parties [Member] | Preferred D Stock[Member]
Accrued dividends	$ 154,712	$ 154,712

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Concentration (Details Narrative) - Sales Revenue [Member]	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
No Customer [Member]
Concentration Risk, Percentage	10.00%
One Customer [Member]
Concentration Risk, Percentage		14.00%