NEOVASC INC. | |||||
Consolidated Statements of Loss and Comprehensive Loss | |||||
For years ended March 31, | |||||
(Expressed in U.S. dollars) | |||||
2019 | 2018 | ||||
REVENUE | $ | 585,793 | $ | 339,922 | |
COST OF GOODS SOLD | (143,994) | (87,393) | |||
GROSS PROFIT | 441,799 | 252,529 | |||
EXPENSES | |||||
Selling expenses | 368,233 | 286,938 | |||
General and administrative expenses | 2,680,931 | 2,469,091 | |||
Product development and clinical trials expenses | 4,239,963 | 3,999,391 | |||
7,289,127 | 6,755,420 | ||||
OPERATING LOSS | (6,847,328) | (6,502,891) | |||
OTHER (EXPENSE)/INCOME | |||||
Interest income | 3,709 | 26,036 | |||
Impairment on right-of-use asset | (260,616) | - | |||
Gain/(loss) on foreign exchange | 20,518 | (72,563) | |||
Unrealized loss on derivative liability and convertible note | (781,621) | (4,337,049) | |||
Realized loss on exercise of warrants and convertible note | (786,407) | (17,557,693) | |||
Amortization of deferred loss | - | (27,382,735) | |||
(1,804,417) | (48,324,003) | ||||
LOSS BEFORE TAX | (8,651,745) | (55,826,894) | |||
Tax recovery/(expense) | 36,370 | (53,654) | |||
LOSS FOR THE PERIOD | $ | (8,615,375) | $ | (55,880,548) | |
OTHER COMPREHENSIVE INCOME FOR THE PERIOD | |||||
Fair market value changes in convertible note due to changes in own credit risk | 696,553 | 413,633 | |||
696,553 | 413,633 | ||||
LOSS AND OTHER COMPREHENSIVE LOSS FOR THE PERIOD | $ | (7,918,822) | $ | (55,466,915) | |
LOSS PER SHARE | |||||
Basic and diluted loss per share | $ | (0.21) | $ | (0.38) | |
