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

----------------------- GROSS PROFIT 323,059 212,717 528,783 437,942 ------------------------------------------------------------------------- EXPENSES Selling 163,683 785,491 466,568 1,534,995 General and administration 659,004 779,363 1,409,833 1,317,648 Product development and clinical trials 864,702 414,958 1,741,482 1,036,703 Inventory write down - 94,404 - 94,404 Amortization 31,103 75,670 63,459 121,436 ------------------------------------------------------------------------- 1,718,492 2,149,886 3,681,342 4,105,186 ------------------------------------------------------------------------- LOSS BEFORE OTHER INCOME (EXPENSES) (1,395,433) (1,937,169) (3,152,559) (3,667,244) ------------------------------------------------------------------------- OTHER INCOME (EXPENSES) Interest income 1,355 14,208 10,976 23,303 Interest on long-term debt (2,276) (5,021) (5,529) (12,535) Accreted interest on repayable contribution agreement - (3,846) - (7,685) Gain (Loss) on foreign exchange 65,903 16,155 70,421 6,913 ------------------------------------------------------------------------- 64,982 21,496 75,868 9,996 ------------------------------------------------------------------------- NET LOSS AND COMPREHENSIVE LOSS FOR THE PERIOD (1,330,451) (1,915,673) (3,076,691) (3,657,248) DEFICIT, BEGINNING OF PERIOD (61,636,203) (27,371,973) (59,889,963) (25,630,398)
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