<SUBMISSION>
<ACCESSION-NUMBER>0001144204-14-060060
<TYPE>4
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20141006
<FILING-DATE>20141008
<DATE-OF-FILING-DATE-CHANGE>20141008
<ISSUER>
<COMPANY-DATA>
<CONFORMED-NAME>DEER VALLEY CORP
<CIK>0000095047
<ASSIGNED-SIC>2451
<IRS-NUMBER>205256635
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<BUSINESS-ADDRESS>
<STREET1>4218  W. LINEBAUGH AVE.
<CITY>TAMPA
<STATE>FL
<ZIP>33624
<PHONE>813-885-5998
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>4218  W. LINEBAUGH AVE.
<CITY>TAMPA
<STATE>FL
<ZIP>33624
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>CYTATION CORP
<DATE-CHANGED>20010626
</FORMER-COMPANY>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>COLLEGELINK COM INCORP
<DATE-CHANGED>19991122
</FORMER-COMPANY>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>CYTATION COM INC
<DATE-CHANGED>19990318
</FORMER-COMPANY>
</ISSUER>
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>LUCAS SKY
<CIK>0001613784
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>000-05388
<FILM-NUMBER>141147051
</FILING-VALUES>
<MAIL-ADDRESS>
<STREET1>445 PARK AVENUE
<STREET2>SUITE 1043
<CITY>NEW YORK
<STATE>NY
<ZIP>10022
</MAIL-ADDRESS>
</REPORTING-OWNER>
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>SUCCO JOHN
<CIK>0001613782
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>000-05388
<FILM-NUMBER>141147052
</FILING-VALUES>
<MAIL-ADDRESS>
<STREET1>445 PARK AVENUE
<STREET2>SUITE 1043
<CITY>NEW YORK
<STATE>NY
<ZIP>10022
</MAIL-ADDRESS>
</REPORTING-OWNER>
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>Vicis Capital Master Fund
<CIK>0001365954
<STATE-OF-INCORPORATION>E9
<FISCAL-YEAR-END>1231
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>000-05388
<FILM-NUMBER>141147053
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>126 EAST 56TH STREET
<STREET2>TOWER 56, SUITE 700
<CITY>NEW YORK
<STATE>NY
<ZIP>10022
<PHONE>212-909-4600
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>126 EAST 56TH STREET
<STREET2>TOWER 56, SUITE 700
<CITY>NEW YORK
<STATE>NY
<ZIP>10022
</MAIL-ADDRESS>
</REPORTING-OWNER>
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>Vicis Capital, LLC
<CIK>0001341950
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>000-05388
<FILM-NUMBER>141147054
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>445 PARK AVENUE
<STREET2>SUITE 1043
<CITY>NEW YORK
<STATE>NY
<ZIP>10022
<PHONE>212-909-4600
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>445 PARK AVENUE
<STREET2>SUITE 1043
<CITY>NEW YORK
<STATE>NY
<ZIP>10022
</MAIL-ADDRESS>
</REPORTING-OWNER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>v390904_4.xml
<DESCRIPTION>OWNERSHIP DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2014-10-06</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000095047</issuerCik>
        <issuerName>DEER VALLEY CORP</issuerName>
        <issuerTradingSymbol>DVLY</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001341950</rptOwnerCik>
            <rptOwnerName>Vicis Capital, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>445 PARK AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 1043</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>Former 10% Beneficial Owners</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001365954</rptOwnerCik>
            <rptOwnerName>Vicis Capital Master Fund</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>445 PARK AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 1043</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>Former 10% Beneficial Owners</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001613782</rptOwnerCik>
            <rptOwnerName>SUCCO JOHN</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O VICIS CAPITAL, LLC</rptOwnerStreet1>
            <rptOwnerStreet2>445 PARK AVENUE, SUITE 1043</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>Former 10% Beneficial Owners</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001613784</rptOwnerCik>
            <rptOwnerName>LUCAS SKY</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O VICIS CAPITAL, LLC</rptOwnerStreet1>
            <rptOwnerStreet2>445 PARK AVENUE, SUITE 1043</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>Former 10% Beneficial Owners</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, $0.001 par value per share</value>
            </securityTitle>
            <transactionDate>
                <value>2014-10-06</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>12310458</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.2924</value>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F1"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Vicis Capital Master Fund</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">All of the foregoing represents securities formerly held directly by Vicis Capital Master Fund. Vicis Capital, LLC acts as investment advisor to Vicis Capital Master Fund and therefore formerly had voting and dispositive power over all the foregoing shares. For the purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended, Vicis Capital, LLC, and its members, John Succo and Sky Lucas, may each have been deemed to be the beneficial owner of, but hereby disclaim such beneficial ownership of, the foregoing shares.</footnote>
        <footnote id="F2">This Form 4 is being filed by each of the Reporting Persons as a result of the disposition of all of the shares of Deer Valley Corporation by Vicis Capital Master Fund to a private purchaser for aggregate consideration of $3,600,000 on October 6, 2014.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Andrew Comito, Authorized Representative, Vicis Capital Master Fund</signatureName>
        <signatureDate>2014-10-07</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Andrew Comito, as Power of Attorney for John D. Succo</signatureName>
        <signatureDate>2014-10-07</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Andrew Comito, as Power of Attorney for Sky M. Lucas</signatureName>
        <signatureDate>2014-10-07</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Andrew Comito, Compliance Officer, Vicis Capital, LLC</signatureName>
        <signatureDate>2014-10-07</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SUBMISSION>
