OTC Bulletin Board - S & P Company Insight for VICOR TECHNOLOGIES

OTC Bulletin Board

S & P Company Insight for VICOR TECHNOLOGIES

Profile

Auditor
Business Summary: Vicor Technologies, Inc. is a medical diagnostics company focused on commercializing noninvasive diagnostic technology products based on the company's patented, proprietary Point Correlation Dimension algorithm and software.

Address 2300 NW Corporate Boulevard, Suite 123 Boca Raton , FL 33431 Phone: 561-995-7313 Website: http://www.vicortech.com
Daszkal Bolton LLP
Transfer Agent
Corporate Stock Transfer, Inc.
Employees: 10 ShareHolders: 653
Founded: 2005 Domicile: Delaware

Background

Subsidiaries:
Vicor Technologies, Inc., in the development stage as of Sept. 30, 2009, is a medical diagnostics company focused on commercializing noninvasive diagnostic technology products based on Vicor's patented, proprietary Point Correlation Dimension algorithm (the PD2i algorithm) and software. The PD2i algorithm facilitates the ability to accurately risk stratify a specific target population to predict future pathological events. As of November 2009, Vicor was commercializing three proprietary diagnostic medical products which employ software utilizing the PD2i algorithm: the PD2i Analyzer, the PD2i-VS (Vital Sign) and the PD2i Cardiac Analyzer. Vicor's therapeutic products have been developed by using a drug discovery platform which focuses on naturally occurring biomolecules derived from state-dependent physiologies such as hibernation. The company's first product, the PD2i Analyzer, displays and analyzes electrocardiographic (ECG) information that measures heart rate variability (HRV). The PD2i Analyzer received 510(k) marketing clearance from the Food and Drug Administration (FDA) in December 2008. Vicor is completing software programming changes for the PD2i Analyzer to enable the capture and display of HRV information during paced respiration and controlled exercise. Following completion of these programming changes, the labeling for the original 510(k) will be expanded to include the measurement of heart rate variability during paced respiration and controlled exercise. This expanded labeling will facilitate the use of the PD2i Analyzer for screening diabetic and cardiac patients with reimbursement available to the physicians from insurers for these types of tests. Vicor anticipates the PD2i Analyzer will be in use in selected physicians' practices late in the fourth quarter of 2009. The company's second product, the PD2i-VS (Vital Sign), is being developed in collaboration with the United States Army and is used to assess the severity of injury of critically injured trauma victims to determine the need for an immediate life-saving intervention in those trauma victims who are at high risk of imminent death. It is anticipated that the PD2i-VS will be used for civilian triage and trauma emergency response. Vicor's third product, the PD2i Cardiac Analyzer, is designed to accurately risk stratify patients into those at high or low risk of suffering a fatal arrhythmic event, or Sudden Cardiac Death, within a six- to 12-month time frame. The PD2i Cardiac Analyzer is the subject of an ongoing research collaboration.
History: INCORPORATED in Delaware May 24, 2005, as SRKP 6, Inc. On Mar. 30, 2007, the company acquired Vicor Technologies, Inc. (Old Vicor), a Delaware corporation formed in August 2000, through the merger (Merger) of Old Vicor with a wholly owned subsidiary. Upon the closing of the Merger, Old Vicor became a wholly owned subsidiary of the company. Effective Mar. 31, 2007, Old Vicor was merged into the company, which changed its name to Vicor Technologies, Inc. At the closing, each outstanding share of Old Vicor Common stock was cancelled and automatically converted into the right to receive two Common shares of the company. Upon the consummation of the Merger, the company was obligated to issue an aggregate of 22,993,723 Common shares to Old Vicor's former Common stockholders and 157,592 shares of Series A 8.0% Convertible Cumulative Preferred stock to Old Vicor's former Preferred stockholders.

Non-Linear Medicine, Inc. Stasys Technologies, Inc.

Management

Management
Officers	Position
David H. Fater	President, Chief Financial Officer & Chief Executive Officer
Thomas J. Bohannon	Chief Accounting Officer
Lloyd C. Chesney	Chief Technology Officer
Anthony Pintsopoulos	Secretary
Richard Moyer	Investor Relations Contact

Directors
Jerry M. Anchin
David H. Fater
Joseph A. Franchetti
Frederick M. Hudson
James E. Skinner
Edward Wiesmeier

Annual Report

Annual Report

Income Statement

	2009	2008
EXPENSES
General and Administrative Expenses	(4,372,000)	(2,433,000)
Research and Development	(964,000)	(993,000)
Depreciation and Amortization	(41,000)	(41,000)
Interest Expense	(1,944,000)	(3,260,000)
Unrealized gain on derivative financial instruments	1,074,000	-
Realized gain on derivative financial instruments	1,083,000	-
Net Income (Loss)	(5,164,000)	(6,727,000)
CHARGES ON NET INCOME
Dividends on Preferred Stock	(479,000)	(246,000)
Value of warrants issued in connection with sales of Series B preferred stock	-	(1,536,000)
Preferred Stock Adjustments	(979,000)	-
Net Income Available to Common Shareholders	(6,622,000)	(8,509,000)
SUPPLEMENTARY INFO
Net loss per common share basic and diluted	(0.18)	(0.29)

Balance Sheet

	2009	2008
ASSETS:
CURRENT ASSETS
Cash	544,000	182,000
Prepaid Expenses	74,000	14,000
Total Current Assets	618,000	196,000
NON CURRENT ASSETS
Furniture and Fixtures	21,000	2,000
Intellectual Property	229,000	266,000
Deferred Charges	168,000	-
Deposits	12,000	12,000
Total Assets	1,048,000	476,000
LIABILITIES:
CURRENT LIABILITIES
Accounts Payable and Accrued Expenses	600,000	1,000,000
Current Debt	460,000	900,000
Due to Related Parties	100,000	100,000
Total Current Liabilities	1,160,000	2,000,000
NON CURRENT LIABILITIES
Long-term Debt	1,251,000	-
Accrued Dividend	833,000	434,000
Derivative Financial Instruments Payable in Shares of Common Stock	4,414,000	-
SHAREHOLDERS' EQUITY
Common Stock - Par Value	4,000	3,000
Additional Paid in Capital	46,848,000	44,782,000
Deficit Accumulated during the Development Stage	(53,462,000)	(47,320,000)
Subscribed Share Capital - Common	-	577,000
Total Shareholders Equity	(6,610,000)	(1,958,000)
Total Liabilities & Shareholders Equity	1,048,000	476,000

Interim Report

Interim Report

Data Not Available

Pro Forma Report

Pro Forma Report

Data Not Available

Quarterly Report

Quarterly Report Information

Quarterly Revenue, US$

Year	Quarter	Revenue
2010	1	100,000
2009	1	Nil
2009	2	Nil
2009	3	Nil
2009	4	Nil
2009	Full Year	Nil
2008	1	Nil
2008	2	Nil
2008	3	Nil
2008	4	Nil
2008	Full Year	Nil
2007	1	10,000
2007	2	Nil
2007	3	Nil
2007	4	Nil
2007	Full Year	10,000
2006	1	N/A
2006	Full Year	N/A
2005	Full Year	N/A

Quarterly Net Income, US$

Year	Quarter	Revenue
2010	1	N/A
2009	3	N/A
2009	4	N/A
2009	Full Year	(5,160,000)
2008	Full Year	(6,700,000)
2007	Full Year	(6,100,000)
2006	Full Year	N/A
2005	Full Year	N/A

Quarterly EPS, US$

Year	Quarter	Revenue
2010	1	(.04)
2009	1	(.06)
2009	2	(.04)
2009	3	(.12)
2009	4	.03
2009	Full Year	(.18)
2008	1	(.03)
2008	2	(.04)
2008	3	(.04)
2008	4	(.18)
2008	Full Year	(.29)
2007	1	(.15)
2007	2	(.05)
2007	3	(.06)
2007	4	(.06)
2007	Full Year	(.26)
2006	1	N/A
2006	Full Year	N/A
2005	Full Year	N/A

Stock Data

Capitalization as of 03/31/2010:

	Authorized Shares	Outstanding Shares
Common $0.0001 par	100,000,000	42,933,973
Preferred $0.0001 par	10,000,000	5,367,693^so2

LONG TERM DEBT: $1,172,000.

Common $0.0001 par

Stockholders: 02/28/2010, 653.

PRINCIPAL STOCKHOLDERS: February 28, 2010, James E. Skinner owned or controlled 8.7% of the Common.

Transfer Agent: Corporate Stock Transfer, Inc. Denver , CO

OTC Bulletin Board( Primary): VCRT

Exchange	Year	High	Low
OTC Bulletin Board	2009	1.3000	0.3600
OTC Bulletin Board	2008	1.4900	0.2000
OTC Bulletin Board	2007	5.0000	0.2500

DIVIDENDS: Common $0.0001 par: None.

^so2Consists of 157,592 Series A Preferred shares; 5,210,101 Series B Preferred shares. Each share of Series A and Series B Preferred stock is convertible into one Common share.