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Neovasc Inc. Reports Third Quarter Fiscal Year 2008 Financial Results
Date:12/1/2008

2,259 8,413,041 6,042,767 ------------------------------------------------------------------------- LOSS BEFORE OTHER INCOME (EXPENSES) (4,003,041) (1,829,316) (7,670,285) (5,578,505) ------------------------------------------------------------------------- OTHER INCOME (EXPENSES) Interest income 36,500 59,689 59,803 141,769 Interest on long-term debt (45,477) (2,808) (58,012) (8,544) Accreted interest on repayable contribution agreement (Note 14) (3,880) - (11,565) - Gain (Loss) on foreign exchange 11,875 (29,741) 18,788 (85,445) ------------------------------------------------------------------------- (982) 27,140 9,014 47,780 ------------------------------------------------------------------------- NET LOSS AND COMPREHENSIVE LOSS FOR THE PERIOD (4,004,023) (1,802,176) (7,661,271) (5,530,725) DEFICIT, BEGINNING OF PERIOD (29,287,646) (21,628,986) (25,630,398) (17,900,437) ------------------------------------------------------------------------- DEFICIT, END OF PERIOD $(33,291,669) $(23,431,162) $(33,291,669) $(23,431,162) ------------------------------------------------------------------------- ------------------------------------------------------------------------- ------------------------------------------------------------------------- BASIC LOSS PER SHARE $ (0.23) $ (0.32) $ (0.81) $ (1.17) FULLY DILUTED LOSS PER SHARE $ (0.21) $ (0.32) $ (0.77) $ (1.17) ------------------------------------------------------------------------- ---------------------------------------------------------
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