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Neovasc Inc. Reports Second Quarter 2009 Financial Results
Date:8/19/2009

1,585,066 1,666,616 ------------------------------------------------------------------------- SHAREHOLDERS' EQUITY Share capital 60,588,307 58,607,066 Contributed surplus 4,563,255 4,436,804 Deficit (62,966,654) (59,889,963) ------------------------------------------------------------------------- 2,184,908 3,153,907 ------------------------------------------------------------------------- $ 3,769,974 $ 4,820,523 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Neovasc Inc. (formerly Medical Ventures Corp.) Consolidated Statements of Operations, Comprehensive Loss and Deficit For the three and six months ended June 30 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Three months ended June 30 Six months ended June 30 2009 2008 2009 2008 ------------------------------------------------------------------------- SALES Product sales $ 529,769 $ 433,061 $ 828,399 $ 837,924 Consulting services 70,555 - 127,409 28,622 ------------------------------------------------------------------------- 600,324 433,061 955,808 866,546 COST OF SALES, including underutilized capacity of $16,038 (2008: $25,144) 277,265 220,344 427,025 428,604 --------------------------------------------------
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