Vycor Medical, Inc. (OTCMKTS:VYCO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements with Certain Officers
At its March 23, 2020 meeting the Company’s Board of Directors accepted the tendered resignation as Director of Oscar Bronsther, M.D., with effect from July 1, 2020, expressing appreciation for his years of service. There were no disagreements between the Company and Mr. Bronsther on any matters.
Item 2.02. Results of Operations and Financial Conditions
The information in this report and the exhibit attached hereto are being furnished to Item 2.02 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall they be deemed incorporated by reference in any filing with the Securities and Exchange Commission under the Securities Act of 1934 or the Securities Act of 1933, except as shall be expressly set forth by specific reference to such filing.
On March 27, 2020, we issued a press release regarding our financial results for the year ended December 31, 2019. A copy of the press release is furnished as Exhibit 99.1 to this Form 8-K.
Non-GAAP Measures
We make reference to non-GAAP financial information in this press release together with a reconciliation of these non-GAAP financial measures to the comparable GAAP financial measures. Specifically, we have provided non-GAAP Cash Operating Expenses and non-GAAP Cash Operating Loss measures that exclude Depreciation, Amortization and non-cash Stock Compensation.
We believe that these non-GAAP financial measures provide investors with insight into what is used by management to conduct a more meaningful and consistent comparison of our ongoing operating results and trends, compared with historical results. This presentation is also consistent with the measures management uses to measure the performance of ongoing operating results against prior periods and against our internally developed targets. There are limitations in using these non-GAAP financial measures because they are not prepared in accordance with GAAP and may be different from non-GAAP financial measures used by other companies. These non-GAAP financial measures should not be considered in isolation or as a substitute for GAAP financial measures. Investors and potential investors should consider non-GAAP financial measures only in conjunction with the Company’s consolidated financial statements prepared in accordance with GAAP and the reconciliation of non-GAAP financial measures in this press release.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
VYCOR MEDICAL INC Exhibit
EX-99.1 2 ex99-1.htm Vycor Medical Reports Financial Results for the year ended December 31st,…
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About Vycor Medical, Inc. (OTCMKTS:VYCO)
Vycor Medical, Inc. provides surgical and therapeutic solutions. The Company operates through two segments: Vycor Medical, which focuses on brain and cervical surgical access systems for sale to hospitals and medical professionals, and NovaVision, which focuses on neuro-stimulation therapies and diagnostic devices for the treatment and screening of vision field loss resulting from neurological damage. The Company designs, develops and markets neurological medical devices and therapies. The Company operates in the United States and Europe. Vycor Medical’s product Vycor Medical’s ViewSite Brain Access System (VBAS) is a next generation retraction and access system. VBAS is a disposable product that can be used with microscopic, endoscopic and neuro-navigation systems. NovaVision has a family of therapies that both restore and compensate for lost vision. NovaVision’s products include VRT and Neuro-Eye Therapy (NeET), NeuroEyeCoach and Vision Diagnostic (VIDIT).