X0202 4 2008-04-24 0 0000095047 DEER VALLEY CORP DVLY.OB 0001341950 Vicis Capital, LLC 126 EAST 56TH STREET, TOWER 56, SUITE 70 NEW YORK NY 10022 0 0 1 0 0001365954 Vicis Capital Master Fund 126 EAST 56TH STREET, TOWER 56, SUITE 70 NEW YORK NY 10022 0 0 1 0 Common Stock, $0.001, par value per share 2008-04-24 4 P 0 18000 .95 A 3409757 I By Vicis Capital Master Fund Series A Convertible Pref. Stock, $.01 par value per share 0.75 Common Stock 56666 492500 I By Vicis Capital Master Fund Series B Warrant to Purchase Common Stock 2.25 2013-03-07 Common Stock 283334 3283334 I By Vicis Capital Master Fund Series B Warrant to Purchase Common Stock 1.50 2006-08-11 2011-03-07 Common Stock 566668 6566668 I By Vicis Capital Master Fund Series E Convertible Pref. Stock, $.01 par value per share 0 Common Stock 250000 1000000 I By Vicis Capital Master Fund Series F Warrant to Purchase Common Stock 2.25 2012-07-23 Common Stock 250000 250000 I By Vicis Capital Master Fund Series C Convertible Preferred Stock, $.01 par value 0 Common Stock 2246300 22463 I By Vicis Capital Master Fund Series C Warrant to Purchase Common Stock 0.75 2012-01-18 Common Stock 2000000 2000000 I By Vicis Capital Master Fund Series BD Warrant to Purchase Common Stock 1.50 2012-01-18 Common Stock 421683 421683 I By Vicis Capital Master Fund Series BD Warrant to Purchase Common Stock 2.25 2012-01-18 Common Stock 210841 210841 I By Vicis Capital Master Fund Series F Warrant to Purchase Common Stock 0.75 2006-11-16 2011-11-16 Common Stock 2000000 2000000 I By Vicis Capital Master Fund Series F Warrant to Purchase Common Stock 1.50 2006-11-16 2011-11-16 Common Stock 750000 750000 I By Vicis Capital Master Fund Series A Warrant to Purchase Common Stock 1.50 2011-12-04 Common Stock 364178 364178 I By Vicis Capital Master Fund Represents the indirect holdings of Vicis Capital LLC. All of the foregoing represents securities held directly by Vicis Capital Master Fund. Vicis Capital LLC acts as investment advisor to Vicis Capital Master Fund and therefore has voting and dispositive power over all the foregoing shares. For the purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended, Vicis Capital LLC may be deemed to be the beneficial owner of, but hereby disclaims such beneficial ownership of, the foregoing shares. Immediately. None. /s/ Keith Hughes, Chief Operating Officer, Vicis Capital LLC 2008-04-25 /s/ Keith Hughes, Authorized Representative, Vicis Capital Master Fund 2008-04-25