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| Delaware                                                    | 20-2903491          |
|-------------------------------------------------------------|---------------------|
| (State or other jurisdiction of                             | (I.R.S. Employer    |
| incorporation or organization)                              | Identification No.) |
|                                                        |                |
| 2300 NW Corporate Boulevard, Suite 123, Boca Raton, Florida | 33431               |
| (Address of principal executive office)                     | (Zip Code)          |

| Large accelerated filer  ̈ | Accelerated filer  ̈ | Non-accelerated filer  ̈                  | Smaller reporting company R |
|--------------------------------|--------------------------|-----------------------------------------------|-----------------------------|
|                           |                     | (Do not check if a smaller reporting company) |                        |

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|                                                                                                                                                                                       | Page   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| PART I — Financial Information                                                                                                                                                       |   |
| Item 1. Condensed Consolidated Financial Statements:                                                                                                                                       |   |
| Condensed Consolidated Balance Sheets as of December 31, 2010 and June 30, 2011 (unaudited)                                                                                                | 3      |
| Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2010 and 2011 and the period from August 4, 2000 (inception) through June 30, 2011 (unaudited) | 4      |
| Condensed Consolidated Statement of Changes in Net Capital Deficiency for the six months ended June 30, 2011 (unaudited)                                                                   | 6      |
| Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2010 and June 30, 2011 and the period from August 4, 2000 (inception) through June 30, 2011 (unaudited)  | 7      |
| Notes to Condensed Consolidated Financial Statements (unaudited)                                                                                                                           | 9      |
| Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations                                                                                        | 17     |
| Item 3. Quantitative and Qualitative Disclosures about Market Risk                                                                                                                         | 22     |
| Item 4. Controls and Procedures                                                                                                                                                            | 23     |
| PART II — Other Information                                                                                                                                                          |   |
| Item 1. Legal Proceedings                                                                                                                                                                  | 23     |
| Item 2. Unregistered Sales of Equity Securities and Use of Proceeds                                                                                                                        | 23     |
| Item 3. Defaults Upon Senior Securities                                                                                                                                                    | 23     |
| Item 4. Removed and reserved                                                                                                                                                               | 23     |
| Item 5. Other Information                                                                                                                                                                  | 23     |
| Item 6. Exhibits                                                                                                                                                                           | 23     |
| Signatures                                                                                                                                                                                 |   |

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|                                                                                                                                                                                                                                      |   | December 31,2010 |        |   | June 30, 2011(unaudited) |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------|-------------|--------|------------------------------------|--------|
| ASSETS                                                                                                                                                                                                                                    |
| Current assets:                                                                                                                                                                                                                           |   |                  |        |   |                               |   |
| Cash                                                                                                                                                                                                                                      |   | $                     | 1,119,000   |   |                               | $      | 26,000 |   |
| Accounts receivable                                                                                                                                                                                                                       |   |                  | 58,000      |   |                               |   | 132,000 |   |
| Inventory                                                                                                                                                                                                                                 |   |                  | 58,000      |   |                               |   | 23,000 |   |
| Prepaid expenses                                                                                                                                                                                                                          |   |                  | 411,000     |   |                               |   | 311,000 |   |
| Total current assets                                                                                                                                                                                                                      |   |                  | 1,646,000   |   |                               |   | 492,000 |   |
|                                                                                                                                                                                                                                      |   |                  |        |   |                               |   |   |   |
| Property and equipment:                                                                                                                                                                                                                   |   |                  |        |   |                               |   |   |   |
| Equipment                                                                                                                                                                                                                                 |   |                  | 213,000     |   |                               |   | 244,000 |   |
| Furniture and fixtures                                                                                                                                                                                                                    |   |                  | 24,000      |   |                               |   | 24,000 |   |
| Less accumulated depreciation                                                                                                                                                                                                             |   |                  | (82,000     | )      |                               |   | (127,000 | ) |
| Net property and equipment                                                                                                                                                                                                                |   |                  | 155,000     |   |                               |   | 141,000 |   |
|                                                                                                                                                                                                                                      |   |                  |        |   |                               |   |   |   |
| Other assets:                                                                                                                                                                                                                             |   |                  |        |   |                               |   |   |   |
| Deposits                                                                                                                                                                                                                                  |   |                  | 18,000      |   |                               |   | 18,000 |   |
| Deferred financing costs                                                                                                                                                                                                                  |   |                  | 8,076,000   |   |                               |   | 6,161,000 |   |
| Intellectual property, net of accumulated amortization of $260,000 and $284,000 at December 31, 2010 and June 30, 2011, respectively                                                                                                      |   |                  | 192,000     |   |                               |   | 224,000 |   |
|                                                                                                                                                                                                                                      |   |                  |        |   |                               |   |   |   |
|                                                                                                                                                                                                                                      |   | $                     | 10,087,000  |   |                               | $      | 7,036,000 |   |
|                                                                                                                                                                                                                                      |   |                  |        |   |                               |   |   |   |
| LIABILITIES AND NET CAPITAL DEFICIENCY                                                                                                                                                                                                    |
|                                                                                                                                                                                                                                      |   |                  |        |   |                               |   |   |   |
| Current liabilities:                                                                                                                                                                                                                      |   |                  |        |   |                               |   |   |   |
| Accounts payable and accrued expenses                                                                                                                                                                                                     |   | $                     | 1,166,000   |   |                               | $      | 2,528,000 |   |
| Current debt                                                                                                                                                                                                                              |   |                  | 360,000     |   |                               |   | 910,000 |   |
| Due to related party                                                                                                                                                                                                                      |   |                  | 88,000      |   |                               |   | 146,000 |   |
| Total current liabilities                                                                                                                                                                                                                 |   |                  | 1,614,000   |   |                               |   | 3,584,000 |   |
|                                                                                                                                                                                                                                      |   |                  |        |   |                               |   |   |   |
| Long-term liabilities:                                                                                                                                                                                                                    |   |                  |        |   |                               |   |   |   |
| Long-term debt                                                                                                                                                                                                                            |   |                  | 8,277,000   |   |                               |   | 7,829,000 |   |
| Accrued dividends                                                                                                                                                                                                                         |   |                  | 932,000     |   |                               |   | 1,153,000 |   |
| Derivative financial instruments payable in shares of common stock                                                                                                                                                                        |   |                  | 7,692,000   |   |                               |   | 1,274,000 |   |
| Total long-term liabilities                                                                                                                                                                                                               |   |                  | 16,901,000  |   |                               |   | 10,256,000 |   |
|                                                                                                                                                                                                                                      |   |                  |        |   |                               |   |   |   |
| Commitments and contingencies                                                                                                                                                                                                             |   |                  |        |   |                               |   |   |   |
|                                                                                                                                                                                                                                      |   |                  |        |   |                               |   |   |   |
| Net capital deficiency:                                                                                                                                                                                                                   |   |                  |        |   |                               |   |   |   |
|  Preferred stock, $.0001 par value; 25,000,000 shares authorized:                                                                                                                                                                    |   |                  |        |   |                               |   |   |   |
| Series B Voting Junior Convertible Cumulative, 5,185,101 shares issued and outstanding at December 31, 2010 and June 30,2011; preference in liquidation of $5,795,000 and $6,016,000 at December 31, 2010 and June 30, 2011, respectively |   |                  | -           |   |                               |   | - |   |
| Common stock, $.0001 par value; 150,000,000 shares authorized; 46,799,324 and 51,448,457 shares issued and outstanding at December 31, 2010 and June 30, 2011, respectively                                                               |   |                  | 5,000       |   |                               |   | 5,000 |   |
| Additional paid-in capital                                                                                                                                                                                                                |   |                  | 51,275,000  |   |                               |   | 52,662,000 |   |
| Deficit accumulated during the development stage                                                                                                                                                                                          |   |                  | (59,708,000 | )      |                               |   | (59,471,000 | ) |
| Net capital deficiency                                                                                                                                                                                                                    |   |                  | (8,428,000  | )      |                               |   | (6,804,000 | ) |
|                                                                                                                                                                                                                                      |   |                  |        |   |                               |   |   |   |
|                                                                                                                                                                                                                                      |   | $                     | 10,087,000  |   |                               | $      | 7,036,000 |   |

----

|                                                                          |   | Threemonthsended June30, 2010 |       |   | Threemonthsended June30, 2011 |   |
|-------------------------------------------------------------------------------|--------|-----------------------------------------|------------|--------|-----------------------------------------|--------|
| Revenue:                                                                      |   |                                    |       |   |                                    |   |
| Sales                                                                         |   | $                                       | 8,000      |   |                                    | $      | 129,000 |   |
| Leases                                                                        |   |                                    | -          |   |                                    |   | 10,000 |   |
| Grants and other                                                              |   |                                    | -          |   |                                    |   | - |   |
|                                                                          |   |                                    | 8,000      |   |                                    |   | 139,000 |   |
| Cost of revenue                                                               |   |                                    | 2,000      |   |                                    |   | 72,000 |   |
| Gross profit                                                                  |   |                                    | 6,000      |   |                                    |   | 67,000 |   |
| Operating expenses:                                                           |   |                                    |       |   |                                    |   |   |   |
| Research and development                                                      |   |                                    | 193,000    |   |                                    |   | 163,000 |   |
| Selling, general and administrative                                           |   |                                    | 1,488,000  |   |                                    |   | 1,670,000 |   |
| Interest                                                                      |   |                                    | 558,000    |   |                                    |   | 1,172,000 |   |
| Total operating expenses                                                      |   |                                    | 2,239,000  |   |                                    |   | 3,005,000 |   |
|                                                                          |   |                                    | (2,233,000 | )      |                                    |   | (2,938,000 | ) |
| Gain on derivative financial instruments:                                     |   |                                    |       |   |                                    |   |   |   |
| Realized                                                                      |   |                                    | 200,000    |   |                                    |   | 62,000 |   |
| Unrealized                                                                    |   |                                    | 254,000    |   |                                    |   | 3,145,000 |   |
|                                                                          |   |                                    | 454,000    |   |                                    |   | 3,207,000 |   |
| Net income (loss)                                                             |   |                                    | (1,779,000 | )      |                                    |   | 269,000 |   |
| Dividends for the benefit of preferred stockholders:                          |   |                                    |       |   |                                    |   |   |   |
| Payable on Series A and Series B preferred stock                              |   |                                    | (114,000   | )      |                                    |   | (106,000 | ) |
| Amortization of derivative discount on Series B preferred stock               |   |                                    | (250,000   | )      |                                    |   | (249,000 | ) |
| Value of warrants issued in connection with sales of Series B preferred stock |   |                                    | -          |   |                                    |   | - |   |
| Total dividends for the benefit of preferred stockholders                     |   |                                    | (364,000   | )      |                                    |   | (355,000 | ) |
| Net loss applicable to common stock                                           |   | $                                       | (2,143,000 | )      |                                    | $      | (86,000 | ) |
|                                                                          |   |                                    |       |   |                                    |   |   |   |
| Net loss per common share - basic and diluted                                 |   | $                                       | (0.05      | )      |                                    | $      | - |   |
|                                                                          |   |                                    |       |   |                                    |   |   |   |
| Weighted average number of shares of common stock outstanding                 |   |                                    | 44,603,885 |   |                                    |   | 48,610,806 |   |

----

|                                                                          |   | Six monthsended June30, 2010 |       |   | Six monthsended June 30,2011 |   |       | Period fromAugust 4,2000(Inception) toJune 30,2011 |   |
|-------------------------------------------------------------------------------|--------|---------------------------------------------|------------|--------|---------------------------------------------|--------|------------|------------------------------------------------------------------------|--------|
|                                                                          |   |                                        |       |   |                                        |   |       |                                                                   |   |
| Revenue:                                                                      |   |                                        |       |   |                                        |   |       |                                                                   |   |
| Sales                                                                         |   | $                                           | 108,000    |   |                                        | $      | 288,000    |                                                                   |   | $ | 473,000 |   |
| Leases                                                                        |   |                                        | -          |   |                                        |   | 19,000     |                                                                   |   |   | 23,000 |   |
| Grants and other                                                              |   |                                        | -          |   |                                        |   | -          |                                                                   |   |   | 844,000 |   |
|                                                                          |   |                                        | 108,000    |   |                                        |   | 307,000    |                                                                   |   |   | 1,340,000 |   |
| Cost of revenue                                                               |   |                                        | 87,000     |   |                                        |   | 156,000    |                                                                   |   |   | 287,000 |   |
| Gross profit                                                                  |   |                                        | 21,000     |   |                                        |   | 151,000    |                                                                   |   |   | 1,053,000 |   |
| Operating expenses:                                                           |   |                                        |       |   |                                        |   |       |                                                                   |   |   |   |   |
| Research and development                                                      |   |                                        | 350,000    |   |                                        |   | 285,000    |                                                                   |   |   | 15,950,000 |   |
| Selling, general and administrative                                           |   |                                        | 2,857,000  |   |                                        |   | 3,125,000  |                                                                   |   |   | 38,163,000 |   |
| Interest                                                                      |   |                                        | 1,003,000  |   |                                        |   | 2,203,000  |                                                                   |   |   | 12,604,000 |   |
| Loss from extinguishment of debt                                              |   |                                        | -          |   |                                        |   | -          |                                                                   |   |   | 1,266,000 |   |
| Total operating expenses                                                      |   |                                        | 4,210,000  |   |                                        |   | 5,613,000  |                                                                   |   |   | 67,983,000 |   |
|                                                                          |   |                                        | (4,189,000 | )      |                                        |   | (5,462,000 | )                                                                      |   |   | (66,930,000 | ) |
| Gain on derivative financial instruments:                                     |   |                                        |       |   |                                        |   |       |                                                                   |   |   |   |   |
| Realized                                                                      |   |                                        | 311,000    |   |                                        |   | 62,000     |                                                                   |   |   | 1,463,000 |   |
| Unrealized                                                                    |   |                                        | 26,000     |   |                                        |   | 6,356,000  |                                                                   |   |   | 11,103,000 |   |
|                                                                          |   |                                        | 337,000    |   |                                        |   | 6,418,000  |                                                                   |   |   | 12,566,000 |   |
| Net income (loss)                                                             |   |                                        | (3,852,000 | )      |                                        |   | 956,000    |                                                                   |   |   | (54,364,000 | ) |
| Cumulative effect of change in accounting principle                           |   |                                        | -          |   |                                        |   | -          |                                                                   |   |   | 480,000 |   |
| Dividends for the benefit of preferred stockholders:                          |   |                                        |       |   |                                        |   |       |                                                                   |   |   |   |   |
| Payable on Series A and Series B preferred stock                              |   |                                        | (240,000   | )      |                                        |   | (221,000   | )                                                                      |   |   | (1,570,000 | ) |
| Amortization of derivative discount on Series B preferred stock               |   |                                        | (499,000   | )      |                                        |   | (498,000   | )                                                                      |   |   | (2,481,000 | ) |
| Value of warrants issued in connection with sales of Series B preferred stock |   |                                        | -          |   |                                        |   | -          |                                                                   |   |   | (1,536,000 | ) |
| Total dividends for the benefit of preferred stockholders                     |   |                                        | (739,000   | )      |                                        |   | (719,000   | )                                                                      |   |   | (5,587,000 | ) |
| Net income (loss) applicable to common stock                                  |   | $                                           | (4,591,000 | )      |                                        |   | 237,000    |                                                                   |   | $ | (59,471,000 | ) |
|                                                                          |   |                                        |       |   |                                        |   |       |                                                                   |   |   |   |   |
| Net income (loss) per common share - basic and diluted                        |   | $                                           | (0.11      | )      |                                        | $      | -          |                                                                   |   |   |   |   |
|                                                                          |   |                                        |       |   |                                        |   |       |                                                                   |   |   |   |   |
| Weighted average number of shares of common stock outstanding                 |   |                                        | 43,524,192 |   |                                        |   | 47,792,773 |                                                                   |   |   |   |   |

----

|                                                                  |   | Common Stock |       |   | Preferred Stock - Class B |   |   |   |   |   |      |   |   |                     |   |
|-----------------------------------------------------------------------|--------|-------------------|------------|--------|-----------------------------------------------|--------|--------|--------|--------|--------|-----------|--------|--------|--------------------------|--------|
|                                                                  |   | Shares            |       |   | Amount                                        |   |   | Shares |   |   | Amount    |   |   | AdditionalPaid-InCapital |   |   | AccumulatedDeficit |   |   | Total |   |
| Balance at December 31, 2010                                          |   |              | 46,799,324 |   |                                          |   | 5,000  |   |   |   | 5,185,101 |   |   |                     | -      |   |   |   | 51,275,000 |   |   |   | (59,708,000 | ) |   |   | (8,428,000 | ) |
| Accrued dividends on preferred stock                                  |   |              | -          |   |                                          |   | -      |   |   |   | -         |   |   |                     | -      |   |   |   | - |   |   |   | (221,000 | ) |   |   | (221,000 | ) |
| Issuance of stock for interest payments                               |   |              | 3,640      |   |                                          |   | -      |   |   |   | -         |   |   |                     | -      |   |   |   | 2,000 |   |   |   | - |   |   |   | 2,000 |   |
| Issuance of stock for consulting and fees                             |   |              | 707,267    |   |                                          |   | -      |   |   |   | -         |   |   |                     | -      |   |   |   | 189,000 |   |   |   | - |   |   |   | 189,000 |   |
| Issuance of stock for services                                        |   |              | 468,677    |   |                                          |   | -      |   |   |   | -         |   |   |                     | -      |   |   |   | 263,000 |   |   |   | - |   |   |   | 263,000 |   |
| Issuance of stock for conversion of debt                              |   |              | 3,444,549  |   |                                          |   | -      |   |   |   | -         |   |   |                     | -      |   |   |   | 394,000 |   |   |   | - |   |   |   | 394,000 |   |
| Issuance of warrants for consulting                                   |   |              | -          |   |                                          |   | -      |   |   |   | -         |   |   |                     | -      |   |   |   | 14,000 |   |   |   | - |   |   |   | 14,000 |   |
| Issuance of warrants with debt                                        |   |              | -          |   |                                          |   | -      |   |   |   | -         |   |   |                     | -      |   |   |   | 15,000 |   |   |   | - |   |   |   | 15,000 |   |
| Exercise of warrants                                                  |   |              | 25,000     |   |                                          |   | -      |   |   |   | -         |   |   |                     | -      |   |   |   | 6,000 |   |   |   | - |   |   |   | 6,000 |   |
| Issuance of stock options                                             |   |              | -          |   |                                          |   | -      |   |   |   | -         |   |   |                     | -      |   |   |   | 6,000 |   |   |   | - |   |   |   | 6,000 |   |
| Amortization of discounts related to derivative financial instruments |   |              | -          |   |                                          |   | -      |   |   |   | -         |   |   |                     | -      |   |   |   | 498,000 |   |   |   | (498,000 | ) |   |   | - |   |
| Net income                                                            |   |              | -          |   |                                          |   | -      |   |   |   | -         |   |   |                     | -      |   |   |   | - |   |   |   | 956,000 |   |   |   | 956,000 |   |
| Balance at June 30, 2011                                              |   |              | 51,448,457 |   |                                          | $      | 5,000  |   |   |   | 5,185,101 |   |   | $                        | -      |   |   | $ | 52,662,000 |   |   | $ | (59,471,000 | ) |   | $ | (6,804,000 | ) |

----

|                                                                        |   | Six monthsended June30, 2010 |       |   | Six monthsended June30, 2011 |   |       | Period fromAugust 4, 2000(Inception) toJune 30, 2011 |   |
|-----------------------------------------------------------------------------|--------|---------------------------------------------|------------|--------|---------------------------------------------|--------|------------|------------------------------------------------------------------------------------|--------|
| Cash flows from operating activities:                                       |   |                                        |       |   |                                        |   |       |                                                                               |   |
| Net income (loss)                                                           |   | $                                           | (3,852,000 | )      |                                        | $      | 956,000    |                                                                               |   | $ | (54,364,000 | ) |
| Adjustments to reconcile net loss to net cash used in operating activities: |   |                                        |       |   |                                        |   |       |                                                                               |   |   |   |   |
| Depreciation and amortization                                               |   |                                        | 35,000     |   |                                        |   | 69,000     |                                                                               |   |   | 473,000 |   |
| Noncash interest imputed upon conversion of debt to equity                  |   |                                        | -          |   |                                        |   | -          |                                                                               |   |   | 5,620,000 |   |
| Noncash interest and amortization of deferred financing costs               |   |                                        | 824,000    |   |                                        |   | 2,170,000  |                                                                               |   |   | 6,256,000 |   |
| Gain on derivative financial instruments                                    |   |                                        | (337,000   | )      |                                        |   | (6,418,000 | )                                                                                  |   |   | (12,566,000 | ) |
| Loss from sale of assets                                                    |   |                                        | -          |   |                                        |   | -          |                                                                               |   |   | 48,000 |   |
| Securities issued for services                                              |   |                                        | 35,000     |   |                                        |   | 169,000    |                                                                               |   |   | 2,113,000 |   |
| Beneficial conversion feature of notes payable                              |   |                                        | 33,000     |   |                                        |   | -          |                                                                               |   |   | 303,000 |   |
| Contributed research and development services                               |   |                                        | -          |   |                                        |   | -          |                                                                               |   |   | 95,000 |   |
| Merger-related costs                                                        |   |                                        | -          |   |                                        |   | -          |                                                                               |   |   | 523,000 |   |
| Shares in lieu of interest payments                                         |   |                                        | 2,000      |   |                                        |   | 2,000      |                                                                               |   |   | 389,000 |   |
| Equity-based compensation                                                   |   |                                        | 409,000    |   |                                        |   | 269,000    |                                                                               |   |   | 19,618,000 |   |
| Changes in assets and liabilities:                                          |   |                                        |       |   |                                        |   |       |                                                                               |   |   |   |   |
| Accounts receivable                                                         |   |                                        | (61,000    | )      |                                        |   | (74,000    | )                                                                                  |   |   | (132,000 | ) |
| Inventory                                                                   |   |                                        | (141,000   | )      |                                        |   | 35,000     |                                                                               |   |   | (23,000 | ) |
| Prepaid expenses and other assets                                           |   |                                        | (731,000   | )      |                                        |   | (110,000   | )                                                                                  |   |   | (2,008,000 | ) |
| Accounts payable and accrued expenses                                       |   |                                        | 937,000    |   |                                        |   | 1,511,000  |                                                                               |   |   | 4,412,000 |   |
| Accrued royalties due to related party                                      |   |                                        | -          |   |                                        |   | 58,000     |                                                                               |   |   | 58,000 |   |
|                                                                        |   |                                        |       |   |                                        |   |       |                                                                               |   |   |   |   |
| Net cash used in operating activities                                       |   |                                        | (2,847,000 | )      |                                        |   | (1,363,000 | )                                                                                  |   |   | (29,185,000 | ) |
|                                                                        |   |                                        |       |   |                                        |   |       |                                                                               |   |   |   |   |
| Cash flows from investing activities:                                       |   |                                        |       |   |                                        |   |       |                                                                               |   |   |   |   |
| Purchase of intellectual property                                           |   |                                        | -          |   |                                        |   | (56,000    | )                                                                                  |   |   | (293,000 | ) |
| Net proceeds from sale of equipment                                         |   |                                        | -          |   |                                        |   | -          |                                                                               |   |   | 59,000 |   |
| Purchase of property and equipment                                          |   |                                        | (107,000   | )      |                                        |   | (31,000    | )                                                                                  |   |   | (386,000 | ) |
| Net cash used in investing activities                                       |   |                                        | (107,000   | )      |                                        |   | (87,000    | )                                                                                  |   |   | (620,000 | ) |
|                                                                        |   |                                        |       |   |                                        |   |       |                                                                               |   |   |   |   |
| Cash flows from financing activities:                                       |   |                                        |       |   |                                        |   |       |                                                                               |   |   |   |   |
| Due to related parties                                                      |   |                                        | -          |   |                                        |   | 1,000      |                                                                               |   |   | 101,000 |   |
| Proceeds from bank loans                                                    |   |                                        | -          |   |                                        |   | -          |                                                                               |   |   | 300,000 |   |
| Proceeds from sale of preferred stock                                       |   |                                        | -          |   |                                        |   | -          |                                                                               |   |   | 2,915,000 |   |
| Proceeds from sale of common stock                                          |   |                                        | -          |   |                                        |   | -          |                                                                               |   |   | 11,268,000 |   |
| Proceeds from exercise of warrants                                          |   |                                        | -          |   |                                        |   | 6,000      |                                                                               |   |   | 6,000 |   |
| Repayment of notes                                                          |   |                                        | -          |   |                                        |   | -          |                                                                               |   |   | (1,005,000 | ) |
| Proceeds from bridge loan                                                   |   |                                        | -          |   |                                        |   | -          |                                                                               |   |   | 300,000 |   |
| Proceeds from sale of notes                                                 |   |                                        | 3,667,000  |   |                                        |   | 350,000    |                                                                               |   |   | 15,752,000 |   |
| Proceeds for stock to be issued                                             |   |                                        | -          |   |                                        |   | -          |                                                                               |   |   | 16,000 |   |
| Contributed capital                                                         |   |                                        | -          |   |                                        |   | -          |                                                                               |   |   | 178,000 |   |
| Net cash provided by financing activities                                   |   |                                        | 3,667,000  |   |                                        |   | 357,000    |                                                                               |   |   | 29,831,000 |   |
|                                                                        |   |                                        |       |   |                                        |   |       |                                                                               |   |   |   |   |
| Net increase (decrease) in cash                                             |   |                                        | 713,000    |   |                                        |   | (1,093,000 | )                                                                                  |   |   | 26,000 |   |
| Cash at beginning of period                                                 |   |                                        | 544,000    |   |                                        |   | 1,119,000  |                                                                               |   |   | - |   |
| Cash at end of period                                                       |   | $                                           | 1,257,000  |   |                                        | $      | 26,000     |                                                                               |   | $ | 26,000 |   |

----

|                                                                         |   | Six monthsended June30, 2010 |      |   | Six monthsended June30, 2011 |   |    | Period fromAugust 4, 2000(Inception) toJune 30, 2011 |   |
|------------------------------------------------------------------------------|--------|---------------------------------------------|-----------|--------|---------------------------------------------|--------|---------|------------------------------------------------------------------------------------|--------|
|                                                                         |   |                                        |      |   |                                        |   |    |                                                                               |   |
| Supplemental cash flow information:                                          |   |                                        |      |   |                                        |   |    |                                                                               |   |
| Issuance of previously-subscribed common stock                               |   | $                                           | -         |   |                                        | $      | -       |                                                                               |   | $ | 16,000 |   |
| Conversion of accounts payable to note payable                               |   |                                        | -         |   |                                        |   | -       |                                                                               |   |   | 100,000 |   |
| Repurchase of common stock for cancellation of subscription note receivable  |   |                                        | -         |   |                                        |   | -       |                                                                               |   |   | 750,000 |   |
| Contributed research and development                                         |   |                                        | -         |   |                                        |   | -       |                                                                               |   |   | 95,000 |   |
| Acquisition of intellectual property from related party                      |   |                                        | -         |   |                                        |   | -       |                                                                               |   |   | 200,000 |   |
| Beneficial conversion features for promissory notes                          |   |                                        | -         |   |                                        |   | -       |                                                                               |   |   | 912,000 |   |
| Warrants issued in connection with 15% promissory notes                      |   |                                        | -         |   |                                        |   | 15,000  |                                                                               |   |   | 276,000 |   |
| Warrants issued in connection with 8% Subordinated Convertible Notes         |   |                                        | 557,000   |   |                                        |   | -       |                                                                               |   |   | 674,000 |   |
| Exercise of warrants to purchase common stock                                |   |                                        | -         |   |                                        |   | -       |                                                                               |   |   | 1,000 |   |
| Cash paid for interest expense                                               |   |                                        | 36,000    |   |                                        |   | 36,000  |                                                                               |   |   | 1,065,000 |   |
| Accrued equity-based compensation                                            |   |                                        | -         |   |                                        |   | -       |                                                                               |   |   | 41,000 |   |
| Accrued dividends                                                            |   |                                        | 240,000   |   |                                        |   | 221,000 |                                                                               |   |   | 3,041,000 |   |
| Interest on promissory notes paid in common stock                            |   |                                        | -         |   |                                        |   | -       |                                                                               |   |   | 520,000 |   |
| Related-party accrual converted to common stock                              |   |                                        | -         |   |                                        |   | -       |                                                                               |   |   | 561,000 |   |
| Conversion of debt to Series B preferred stock                               |   |                                        | -         |   |                                        |   | -       |                                                                               |   |   | 1,567,000 |   |
| Conversion of notes to common stock                                          |   |                                        | 1,206,000 |   |                                        |   | 394,000 |                                                                               |   |   | 6,209,000 |   |
| Accrued expenses paid with notes                                             |   |                                        | -         |   |                                        |   | -       |                                                                               |   |   | 703,000 |   |
| Accrued expenses paid with preferred stock                                   |   |                                        | -         |   |                                        |   | -       |                                                                               |   |   | 108,000 |   |
| Accrued expenses paid with common stock                                      |   |                                        | -         |   |                                        |   | -       |                                                                               |   |   | 772,000 |   |
| Fair value of equity-based derivative financial instruments issued           |   |                                        | 2,535,000 |   |                                        |   | -       |                                                                               |   |   | 816,000 |   |
| Fair value of debt-based derivative financial instruments issued             |   |                                        | -         |   |                                        |   | -       |                                                                               |   |   | 8,316,000 |   |
| Deferred costs paid with common stock                                        |   |                                        | -         |   |                                        |   | 34,000  |                                                                               |   |   | 392,000 |   |
| Amortization of derivative discounts                                         |   |                                        | 499,000   |   |                                        |   | 498,000 |                                                                               |   |   | 1,843,000 |   |
| Conversion of Series A preferred stock and accrued dividends to common stock |   |                                        | -         |   |                                        |   | -       |                                                                               |   |   | 335,000 |   |
| Conversion of Series B preferred stock and accrued dividends to common stock |   |                                        | -         |   |                                        |   | -       |                                                                               |   |   | 91,000 |   |

----

----

|                          |   | December31, 2010 |     |   | June 30,2011 |   |
|-------------------------------|--------|------------------|----------|--------|--------------|--------|
| Patents                       |   | $                | 252,000  |   |         | $      | 252,000 |   |
| Purchased software            |   |             | 200,000  |   |         |   | 256,000 |   |
|                          |   |             | 452,000  |   |         |   | 508,000 |   |
| Less accumulated amortization |   |             | (260,000 | )      |         |   | (284,000 | ) |
| Net intellectual property     |   | $                | 192,000  |   |         | $      | 224,000 |   |

----

|                                           |   | December 31,2010 |    |   | June 30, 2011 |   |
|------------------------------------------------|--------|------------------|---------|--------|--------------------|--------|
|                                           |   |             |    |   |               |   |
| 2004 Notes, 12%                                |   | $                | 250,000 |   |               | $      | 250,000 |   |
| 12% Convertible Promissory Notes               |   |             | 110,000 |   |               |   | 110,000 |   |
| 15% Promissory Notes                           |   |             | -       |   |               |   | 350,000 |   |
| Bank loan, unsecured, 3.45%, due February 2012 |   |             | -       |   |               |   | 200,000 |   |
|                                           |   | $                | 360,000 |   |               | $      | 910,000 |   |

|                              |   | December 31,2010 |      |   | June 30, 2011 |   |
|-----------------------------------|--------|------------------|-----------|--------|--------------------|--------|
| 8% Subordinated Convertible Notes |   | $                | 5,273,000 |   |               | $      | 5,273,000 |   |
| 10% Convertible Promissory Notes  |   |             | 2,804,000 |   |               |   | 2,556,000 |   |
| Bank loan, unsecured, 3.54%       |   |             | 200,000   |   |               |   | - |   |
|                              |   | $                | 8,277,000 |   |               | $      | 7,829,000 |   |

----

----

|                             |   | Shares underwarrants |       |   | Weightedaverageexerciseprice |   |
|----------------------------------|--------|---------------------------|------------|--------|------------------------------|--------|
| Exercisable at December 31, 2010 |   |                      | 24,466,460 |   |                         | $      | 0.93 |   |
| Granted                          |   |                      | 200,000    |   |                         | $      | 0.36 |   |
| Expired or canceled              |   |                      | (191,382   | )      |                         | $      | 2.30 |   |
| Exercised                        |   |                      | (131,000   | )      |                         | $      | 1.57 |   |
| Exercisable at June 30, 2011     |   |                      | 24,344,078 |   |                         | $      | 1.02 |   |

| Year ofexpiration |   | Quantity |      |   | Averageexerciseprice |   |
|------------------------|--------|----------|-----------|--------|----------------------|--------|
| 2013                   |   |     | 9,207,213 |   |                 | $      | 0.96 |   |
| 2014                   |   |     | 9,302,363 |   |                 | $      | 0.91 |   |
| 2015                   |   |     | 5,180,752 |   |                 | $      | 1.00 |   |
| 2016                   |   |     | 278,750   |   |                 | $      | 0.31 |   |
| 2017                   |   |     | 375,000   |   |                 | $      | 1.00 |   |

|                                               |   | Number ofShares |      |   | Weighted-AverageExercisePrice |   |   | OptionsExercisable |   |   | Weighted-AverageExercisePrice |   |
|----------------------------------------------------|--------|----------------------|-----------|--------|-------------------------------|--------|--------|--------------------|--------|--------|-------------------------------|--------|
| Outstanding at December 31, 2010                   |   |                 | 3,817,500 |   |                          | $      | 0.73   |               |   |   | 2,983,750                     |   |   | $ | 0.76 |   |
| Granted or vested                                  |   |                 | 275,000   |   |                          | $      | 0.44   |               |   |   | 169,000                       |   |   | $ | 0.42 |   |
| Canceled                                           |   |                 | (150,000  | )      |                          | $      | 0.65   |               |   |   | (138,000                      | )      |   | $ | 0.65 |   |
| Outstanding at June 30, 2011                       |   |                 | 3,942,500 |   |                          | $      | 0.71   |               |   |   | 3,014,750                     |   |   | $ | 0.55 |   |
| Reserved for future option grants at June 30, 2011 |   |                 | 1,057,500 |   |                          |   |   |               |   |   |                          |   |   |   |   |   |

----

|                             |   | Number ofShares |     |   | Weightedaveragegrant-datefair value |   |
|----------------------------------|--------|----------------------|----------|--------|------------------------------------------|--------|
| Outstanding at December 31, 2010 |   |                 | 833,750  |   |                                     | $      | 332,000 |   |
| Granted                          |   |                 | 200,000  |   |                                     |   | 70,000 |   |
| Vested or canceled               |   |                 | (106,000 | )      |                                     |   | (46,000 | ) |
|                             |   |                 | 927,750  |   |                                     | $      | 356,000 |   |

|   | • | Level 1 — Valuations for assets and liabilities traded in active exchange markets, or interest in open-end mutual funds that allow a company to sell its ownership interest back at net asset value (“NAV”) on a daily basis. Valuations are obtained from readily available pricing sources for market transactions involving identical assets, liabilities or funds. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Level 2 — Valuations for assets and liabilities traded in less active dealer, or broker markets, such as quoted prices for similar assets or liabilities or quoted prices in markets that are not active. |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Level 3 — Valuations for assets and liabilities that are derived from other valuation methodologies, such as options pricing models, discounted cash flow models and similar techniques, and not based on market exchange, dealer, or broker traded transactions. Level 3 valuations incorporate certain assumptions and projections in determining the fair value assigned to such assets or liabilities. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                            |   | Warrants |         |   | BeneficialConversion -Preferred Stock |   |         | BeneficialConversion -Convertible Notes |   |
|---------------------------------|--------|----------|--------------|--------|-------------------------------------------------|--------|--------------|---------------------------------------------------|--------|
| Year ended December 31, 2010:   |   |     |         |   |                                            |   |         |                                              |   |
| Risk-free interest rate         |   |     | 1.27% - 2.55 | %      |                                            |   | 1.27% - 2.55 | %                                                 |   |   | 0.64% - 1.43 | % |
| Expected volatility             |   |     | 63           | %      |                                            |   | 63           | %                                                 |   |   | 63 | % |
| Expected life (in years)        |   |     | 2.25 - 4.50  |   |                                            |   | 2.25 - 4.50  |                                              |   |   | 1.50 - 3.00 |   |
| Expected dividend yield         |   |     | 0            | %      |                                            |   | 0            | %                                                 |   |   | 0 | % |
|                            |   |     |         |   |                                            |   |         |                                              |   |   |   |   |
| Six months ended June 30, 2011: |   |     |         |   |                                            |   |         |                                              |   |   |   |   |
| Risk-free interest rate         |   |     | 1.29% - 2.54 | %      |                                            |   | 2.24% - 2.54 | %                                                 |   |   | 0.38% - 1.64 | % |
| Expected volatility             |   |     | 63           | %      |                                            |   | 63           | %                                                 |   |   | 63 | % |
| Expected life (in years)        |   |     | 1.25 - 3.25  |   |                                            |   | 1.50 - 3.50  |                                              |   |   | 1.25 - 1.59 |   |
| Expected dividend yield         |   |     | 0            | %      |                                            |   | 0            | %                                                 |   |   | 0 | % |

|                                                 |   | Fair Value |      |   | Quoted prices inactive markets foridentical liabilities(Level 1) |   |   | Significantother observ-able inputs(Level 2) |   |   | SignificantUnobservableinputs (Level3) |   |
|------------------------------------------------------|--------|-----------------|-----------|--------|------------------------------------------------------------------------------------------------|--------|--------|-------------------------------------------------------------|--------|--------|---------------------------------------------|--------|
| Liabilities:                                         |   |            |      |   |                                                                                           |   |   |                                                        |   |   |                                        |   |
| Derivative financial instruments - December 31, 2010 |   | $               | 7,692,000 |   |                                                                                           | $      | -      |                                                        |   | $      | -                                           |   |   | $ | 7,692,000 |   |
| Derivative financial instruments - June 30, 2011     |   | $               | 1,274,000 |   |                                                                                           | $      | -      |                                                        |   | $      | -                                           |   |   | $ | 1,274,000 |   |

----

|                                   |   | Warrants |       |   | BeneficialConversion -PreferredStock |   |       | BeneficialConversion -Convertiblenotes |   |   | Total      |   |
|----------------------------------------|--------|----------|------------|--------|-------------------------------------------|--------|------------|---------------------------------------------|--------|--------|------------|--------|
| Balance, December 31, 2010             |   | $        | 2,956,000  |   |                                      | $      | 1,256,000  |                                        |   | $      | 3,480,000  |   |   | $ | 7,692,000 |   |
| Included in earnings:                  |   |     |       |   |                                      |   |       |                                        |   |   |       |   |   |   |   |   |
| Realized loss (gain)                   |   |     | -          |   |                                      |   | -          |                                        |   |   | (62,000    | )      |   |   | (62,000 | ) |
| Unrealized loss (gain)                 |   |     | (2,613,000 | )      |                                      |   | (1,003,000 | )                                           |   |   | (2,740,000 | )      |   |   | (6,356,000 | ) |
| Purchases, sales and other             |   |     | -          |   |                                      |   | -          |                                        |   |   | -          |   |   |   | - |   |
| Settlements and issuances - net        |   |     | -          |   |                                      |   | -          |                                        |   |   | -          |   |   |   | - |   |
| Net transfers in and/or out of Level 3 |   |     | -          |   |                                      |   | -          |                                        |   |   | -          |   |   |   | - |   |
| Balance, June 30, 2011                 |   | $        | 343,000    |   |                                      | $      | 253,000    |                                        |   | $      | 678,000    |   |   | $ | 1,274,000 |   |

----

|   | 1. | Increasing sales of the PD2i AnalyzerTM to physicians and health care facilities in the United States through the use of independent sales agents and direct sales personnel. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | Raising additional capital with which to expand the sales and administrative infrastructure and fund ongoing operations until our operations generate positive cash flow. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3. | Completing various clinical trials and 510(k) submissions to secure additional marketing claims for the PD2i AnalyzerTM to enhance and accelerate marketing efforts. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 4. | Initiating international sales of the PD2i AnalyzerTM and PD2i-VSTM (Vital Sign), including securing CE Mark Clearance. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------|

----

----

|            |   | Three months ended June 30, |   |
|-----------------|--------|-------------------------------------------------|--------|
|            |   | 2010                                            |   |   | 2011 |   |
| Revenue:        |   |                                            |   |   |   |   |   |   |   |   |   |   |
| Sales           |   | $                                               | 8,000  |   |   |   | 100.0 | % |   | $ | 129,000 |   |   |   | 92.8 | % |
| Lease income    |   |                                            | -      |   |   |   | 0.0 | % |   |   | 10,000 |   |   |   | 7.2 | % |
|            |   |                                            | 8,000  |   |   |   | 100.0 | % |   |   | 139,000 |   |   |   | 100.0 | % |
| Cost of revenue |   |                                            | 2,000  |   |   |   | 25.0 | % |   |   | 72,000 |   |   |   | 51.8 | % |
| Gross profit    |   | $                                               | 6,000  |   |   |   | 75.0 | % |   | $ | 67,000 |   |   |   | 48.2 | % |

|            |   | Six months ended June 30, |    |
|-----------------|--------|-----------------------------------------------|---------|
|            |   | 2010                                          |    |   | 2011 |   |
| Revenue:        |   |                                          |    |   |   |   |   |   |   |   |   |   |
| Sales           |   | $                                             | 108,000 |   |   |   | 100.0 | % |   | $ | 288,000 |   |   |   | 93.8 | % |
| Lease income    |   |                                          | -       |   |   |   | 0.0 | % |   |   | 19,000 |   |   |   | 6.2 | % |
|            |   |                                          | 108,000 |   |   |   | 100.0 | % |   |   | 307,000 |   |   |   | 100.0 | % |
| Cost of revenue |   |                                          | 87,000  |   |   |   | 80.6 | % |   |   | 156,000 |   |   |   | 50.8 | % |
| Gross profit    |   | $                                             | 21,000  |   |   |   | 19.4 | % |   | $ | 151,000 |   |   |   | 49.2 | % |

|                                     |   | Three months ended June 30, |      |
|------------------------------------------|--------|-------------------------------------------------|-----------|
|                                     |   | 2010                                            |      |   | 2011 |   |
| Operating expenses:                      |   |                                            |      |   |   |   |   |   |   |   |   |   |
| Research and development                 |   | $                                               | 193,000   |   |   |   | 8.6 | % |   | $ | 163,000 |   |   |   | 5.4 | % |
| Selling, general and administrative      |   |                                            | 1,488,000 |   |   |   | 66.5 | % |   |   | 1,670,000 |   |   |   | 55.6 | % |
| Interest                                 |   |                                            | 558,000   |   |   |   | 24.9 | % |   |   | 1,172,000 |   |   |   | 39.0 | % |
| Total operating expenses                 |   | $                                               | 2,239,000 |   |   |   | 100.0 | % |   | $ | 3,005,000 |   |   |   | 100.0 | % |
|                                     |   |                                            |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Gain on derivative financial instruments |   | $                                               | 454,000   |   |   |   |   |   |   | $ | 3,207,000 |   |   |   |   |   |

|                                     |   | Six months ended June 30, |      |
|------------------------------------------|--------|-----------------------------------------------|-----------|
|                                     |   | 2010                                          |      |   | 2011 |   |
| Operating expenses:                      |   |                                          |      |   |   |   |   |   |   |   |   |   |
| Research and development                 |   | $                                             | 350,000   |   |   |   | 8.3 | % |   | $ | 285,000 |   |   |   | 5.1 | % |
| Selling, general and administrative      |   |                                          | 2,857,000 |   |   |   | 67.9 | % |   |   | 3,125,000 |   |   |   | 55.7 | % |
| Interest                                 |   |                                          | 1,003,000 |   |   |   | 23.8 | % |   |   | 2,203,000 |   |   |   | 39.2 | % |
| Total operating expenses                 |   | $                                             | 4,210,000 |   |   |   | 100.0 | % |   | $ | 5,613,000 |   |   |   | 100.0 | % |
|                                     |   |                                          |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Gain on derivative financial instruments |   | $                                             | 337,000   |   |   |   |   |   |   | $ | 6,418,000 |   |   |   |   |   |

----

|   | • | Recurring payroll costs increased $33,000 due to higher sales-related payroll and increased employee benefit costs. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------|

|   | • | Amortization of fees included in deferred financing costs increased 2011 expense by $91,000. |
|--------|---------|----------------------------------------------------------------------------------------------|

|   | • | Professional fees increased $71,000. This increase is primarily attributable to the services by our general counsel as well as independent counsel engaged to assist management and the Board of Directors in matters related to a special investigation authorized by the Board of Directors. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Increased 2011 investor relations expense of $40,000 compared to 2010. |
|--------|---------|------------------------------------------------------------------------|

|   | • | Decrease of $27,000 in consulting fees as a result of changes in the mix of consultants used by Vicor and completion of certain 2010 projects that did not recur in 2011. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Decrease of $57,000 in equity-based compensation primarily because of certain options granted in 2010 but not repeated in 2011. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------|

|   | • | Decrease of $269,000 in payroll and related costs were affected by a decrease in 2011 in equity-based compensation expense. There were numerous management hires in the first quarter of 2010 with stock and stock option incentives. Recurring payroll costs increased $184,000 due to higher sales-related payroll and increased employee benefit costs. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Amortization of certain fees included in deferred financing costs increased 2011 expense by $172,000. |
|--------|---------|-------------------------------------------------------------------------------------------------------|

|   | • | Professional fees increased $71,000. This increase is primarily attributable to the services by our general counsel as well as independent counsel engaged to assist management and the Board of Directors in matters related to a special investigation authorized by the Board of Directors. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Increased 2011 investor relations expense of $25,000 compared to 2010. |
|--------|---------|------------------------------------------------------------------------|

----

----

|   | • | A retained or contingent interest in assets transferred to the unconsolidated entity or similar arrangement that serves as credit; |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Liquidity or market risk support to such entity for such assets; or |
|--------|---------|---------------------------------------------------------------------|

|   | • | An obligation, including a contingent obligation, arising out of a variable interest in an unconsolidated entity that is held by, and material to us, where such entity provides financing, liquidity, market risk or credit risk support to, or engages in leasing, hedging, or research and development services with us. |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | • | Issued 940,044 shares of common stock and 200,000 warrants to purchase common stock at a weighted average exercise price of $0.36 for a term of 5 years to employees and consultants for services rendered. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Issued 75,000 options to an employee at an exercise price of $0.13 per share for a term of 7 years, vesting immediately, pursuant to the 2008 Stock Option Plan. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Issued 25,000 shares of common stock as a result of the exercise of warrants. |
|--------|---------|-------------------------------------------------------------------------------|

|   | • | Issued 3,444,549 shares of common stock upon the conversion of $247,298 principal amount of 10% Notes and $148,617 of accrued interest. |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------|

| Exhibit No. |   | Description                                                                                                                                 |
|-------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------|
| 31.1        |   | Certification of David H. Fater, Chief Executive Officer and President, pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934.* |
|        |   |                                                                                                                                        |
| 31.2        |   | Certification of Thomas J. Bohannon, Chief Financial Officer, pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934.*           |
|        |   |                                                                                                                                        |
| 32.1        |   | Certification of David H. Fater, Chief Executive Officer and President of Vicor Technologies, Inc., pursuant to 18 U.S.C. 1350.*            |
|        |   |                                                                                                                                        |
| 32.2        |   | Certification of Thomas J. Bohannon, Chief Financial Officer of Vicor Technologies, Inc., pursuant to 18 U.S.C. 1350.*                      |

----

| * | Filed herewith |
|---|----------------|

----

| Dated: August 22, 2011 | Vicor Technologies, Inc. |
|------------------------|--------------------------|
|                   |                     |
|                   | By:                      | /s/ David H. Fater |
|                   |                     | David H. Fater |
|                   |                     | Chief Executive Officer and President |
|                   |                     |
|                   | By:                      | /s/ Thomas J. Bohannon |
|                   |                     | Name: Thomas J. Bohannon |
|                   |                     | Title: Chief Financial Officer |

----