Medicalcv Inc - Statement of Ownership (SC 13G)

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SECURITIES AND EXCHANGE COMMISSION OMB Number: Washington, D.C. 20549 Expires: SCHEDULE 13G Estimated average (Rule 13d-102) burden hours per response. .

Information Statement Pursuant to Rules 13d-1 and 13d-2
Under the Securities Exchange Act of 1934

MedicalCV, Inc.
(Name of Issuer)

Common Stock, par value $ .01 per share
(Title of Class of Securities)

584639405
(CUSIP Number)

August 12, 2008
(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

[ ] Rule 13d-1(b)
[ X ] Rule 13d-1(c)
[ ] Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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CUSIP No. 584639405 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) Potomac Capital Management LLC 13-3984298 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ] (b) [ ] 3. SEC Use Only 4. Citizenship or Place of Organization New York Number of 5. Sole Voting Power Shares 468,668 Beneficially Owned by 6. Shared Voting Power Each 0 Reporting Person With 7. Sole Dispositive Power 468,668 8. Shared Dispositive Power 0 9. Aggregate Amount Beneficially Owned by Each Reporting Person The Reporting Persons own an aggregate of 468,668 shares consisting of 300,000 shares of common stock and warrants to purchase 168,668 shares of common stock. 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] 11. Percent of Class Represented by Amount in Row (9) 4.6%(1) 12. Type of Reporting Person (See Instructions) HC; OO (Limited Liability Company) ____________ (1) Based on 9,984,724 shares of the issuer's common stock outstanding as of March 7, 2008 and Warrants to purchase 168,668 shares of common stock. 2

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CUSIP No. 584639405 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) Potomac Capital Management Inc. 13-3984786 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ] (b) [ ] 3. SEC Use Only 4. Citizenship or Place of Organization New York Number of 5. Sole Voting Power Shares 649,187 Beneficially Owned by 6. Shared Voting Power Each 0 Reporting Person With 7. Sole Dispositive Power 649,187 8. Shared Dispositive Power 0 9. Aggregate Amount Beneficially Owned by Each Reporting Person The Reporting Persons own an aggregate of 649,187 shares consisting of 414,286 shares of common stock and warrants to purchase 234,901 shares of common stock. 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] 11. Percent of Class Represented by Amount in Row (9) 6.4%(2) 12. Type of Reporting Person (See Instructions) HC; CO ____________ (2) Based on 9,984,724 shares of the issuer's common stock outstanding as of March 7, 2008 and warrants to purchase 234,901 shares of Common Stock. 3

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CUSIP No. 584639405 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) Paul J. Solit 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ] (b) [ ] 3. SEC Use Only 4. Citizenship or Place of Organization Number of 5. Sole Voting Power Shares 0 Beneficially Owned by 6. Shared Voting Power Each 1,117,855 Reporting Person With 7. Sole Dispositive Power 8. Shared Dispositive Power 1,117,855 9. Aggregate Amount Beneficially Owned by Each Reporting Person The Reporting Persons own an aggregate of 1,117,855shares consisting of 714,286 shares of common stock and warrants to purchase 403,569 shares of common stock. 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] 11. Percent of Class Represented by Amount in Row (9) 10.8%(3) 12. Type of Reporting Person (See Instructions) IN; HC ____________ (3) Based on 9,984,724 shares of the issuer's Common Stock outstanding as of March 7, 2008 and Warrants to purchase 403,569 shares of Common Stock. 4

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Item 1.
(a) Name of Issuer

MedicalCV, Inc.

(b) Address of Issuer's Principal Executive Offices

9725 South Robert Trail
Inver Grove Heights, Minnesota 55077

Item 2.
(a) Name of Person Filing

(i) Potomac Capital Management LLC;
(ii) Potomac Capital Management Inc.; and
(iii) Paul J. Solit

(b) Address of Principal Business Office or, if none, Residence

(i), (ii), and (iii)

825 Third Avenue, 33rd Floor New York, New York 10022

(c) Citizenship

(i) New York
(ii) Delaware
(iii) U.S.

(d) Title of Class of Securities Common Stock, par value $.01 per share

(e) CUSIP Number 584639405

Item 3. Not Applicable

Item 4. Ownership
Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

Potomac Capital Management LLC

(a) Amount beneficially owned: 468,668
(b) Percent of class: 4.6%
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote 468,668
(ii) Shared power to vote or to direct the vote 0
(iii) Sole power to dispose or to direct the disposition of 468,668
(iv) Shared power to dispose or to direct the disposition of 0

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Potomac Capital Management Inc.

(a) Amount beneficially owned: 649,187
(b) Percent of class: 6.4%
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote 649,187
(ii) Shared power to vote or to direct the vote 0
(iii) Sole power to dispose or to direct the disposition of 649,187
(iv) Shared power to dispose or to direct the disposition of 0

Paul J. Solit

(a) Amount beneficially owned: 1,117,855
(b) Percent of class: 10.8%
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote 0
(ii) Shared power to vote or to direct the vote 1,117,855
(iii) Sole power to dispose or to direct the disposition of 0
(iv) Shared power to dispose or to direct the disposition of 1,117,855

Item 5. Ownership of Five Percent or Less of a Class
If this Statement is being filed to report the fact that as of the date hereof the Reporting Persons have ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ]

Item 6. Ownership of More than Five Percent on Behalf of Another Person

Not Applicable.

Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company or Control Person

See Exhibit A attached hereto.

Item 8. Identification and Classification of Members of the Group

Not Applicable.

Item 9. Notice of Dissolution of Group

Not Applicable.

Item 10. Certification
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

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Signature

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated this 9th day of September, 2008

POTOMAC CAPITAL MANAGEMENT LLC

By: /s/ Paul J. Solit ------------------------------- Paul J. Solit, Managing Member

POTOMAC CAPITAL MANAGEMENT INC.

By: /s/ Paul J. Solit ------------------------------- Paul J. Solit, President

PAUL J. SOLIT

By: /s/ Paul J. Solit ------------------------------- Paul J. Solit

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EXHIBIT INDEX

The following exhibits are filed with this report on Schedule 13G:

Exhibit A Identification of entities which acquired the shares which are the subject of this report on Schedule 13G. Exhibit B Joint Filing Agreement dated September 9, 2008 among Potomac Capital Management LLC, Potomac Capital Management, Inc. and Paul J. Solit

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