Vycor Medical Inc (VYCO)

[Roland Rick Perry]

Impressive video.

https://vimeo.com/39766887

Adding to Watch List at The Biotech Stock Review.

http://biotechstockreview.ning.com/profiles/blogs/adding-vycor-medical-inc-vyco-1-15-to-watch-list

Also impressive..

http://www.fhcpartners.com/

http://www.fhcpartners.com/fhcpartners/the_team.php

Under the terms of the exchange, the Fountainhead Parties will receive $2,355,587 of Vycor Series D preferred shares ("Series D") that will be convertible into Vycor Shares at a price of $2.15. The Series D will carry a dividend of 7% per annum, payable in cash or Series D at the Company's option. The Company is able to redeem the Series D at par at any time, at its sole option. The Fountainhead Parties will also receive 3-year warrants equivalent to 75% of the Vycor Shares received in the exchange on a converted basis, exercisable at $3.08. Full details will be contained in a Form 8-K filing.

Adrian Liddell, the chairman of Vycor, commented: "This transaction was carefully reviewed by outside counsel and based on their expertise the Audit Committee and Board of Directors of Vycor consider this exchange as very beneficial to the Company, considerably strengthening the balance sheet, and in the best interests of all shareholders."

At the same time, in a transaction not related to the exchange, Fountainhead entered into an agreement with the Company preventing it from selling any Vycor Shares currently held by Fountainhead below $4.50. In return, the Company agreed to extend the life of certain of Fountainhead's existing warrants expiring in 2015 to the same 3-year term as the warrants being issued under the exchange.