NEOVASC INC. Condensed Interim Consolidated Statements of Financial Position (Expressed in U.S. dollars)(Unaudited) March 31, December 31, Notes 2018 2017 ASSETS Current assets $ 12,261,559 Cash and cash equivalents 6 $ 17,507,157 Accounts receivable 7 746,007 1,334,923 Inventory 8 234,704 398,556 Prepaid expenses and other assets 9 794,190 802,366 Total current assets 14,036,460 20,043,002 Non-current assets 465,423 Restricted cash 10 478,260 Property, plant and equipment 11 1,624,842 1,685,181 Total non-current assets 2,090,265 2,163,441 Total assets $ 16,126,725 $ 22,206,443 LIABILITIES AND EQUITY Liabilities Current liabilities Accounts payable and accrued liabilities 12 $ 2,231,090 $ 1,844,955 4,261,597 Convertible Note 13 4,261,597 Derivative liability from financing 13 8,819,652 19,997,345 Total current liabilities 15,312,339 26,103,897 Non-Current Liabilities 13 23,131,611 Convertible Note 15,745,962 13 Derivative liability from financing 9,539,132 16,831,685 Total non-current liabilities 32,670,743 32,577,647 Total liabilities $ 47,983,082 $ 58,661,544 Equity $ 231,858,163 Share capital 14 $ 171,803,816 Contributed surplus 14 23,088,158 23,056,846 Accumulated other comprehensive loss (6,229,803) (6,643,436) Deficit (280,572,875) (224,692,327) Total equity (31,856,357) (36,475,101) Total liabilities and equity $ 16,126,725 $ 22,206,443 Going Concern and Uncertainty (see Note 1 and 5d) Subsequent Events (see Note 22) See Accompanying Notes to the Condensed Interim Consolidated Financial Statements
NEOVASC INC. Condensed Interim Consolidated Statements of Financial Position (Expressed in U.S. dollars)(Unaudited) Notes March 31, 2018 December 31, 2017 ASSETS Current assets Cash and cash equivalents 6 $ 12,261,559 $ 17,507,157 Accounts receivable 7 746,007 1,334,923 Inventory 8 234,704 398,556 Prepaid expenses and other assets 9 794,190 802,366 Total current assets 14,036,460 20,043,002 Non-current assets Restricted cash 10 465,423 478,260 Property, plant and equipment 11 1,624,842 1,685,181 Total non-current assets 2,090,265 2,163,441 Total assets $ 16,126,725 $ 22,206,443 LIABILITIES AND EQUITY Liabilities Current liabilities Accounts payable and accrued liabilities 12 $ 2,231,090 $ 1,844,955 Convertible Note 13 4,261,597 4,261,597 Derivative liability from financing 13 8,819,652 19,997,345 Total current liabilities 15,312,339 26,103,897 Non-Current Liabilities Convertible Note 13 23,131,611 15,745,962 Derivative liability from financing 13 9,539,132 16,831,685 Total non-current liabilities 32,670,743 32,577,647 Total liabilities $ 47,983,082 $ 58,661,544 Equity Share capital 14 $ 231,858,163 $ 171,803,816 Contributed surplus 14 23,088,158 23,056,846 Accumulated other comprehensive loss (6,229,803) (6,643,436) Deficit (280,572,875) (224,692,327) Total equity (31,856,357) (36,475,101) Total liabilities and equity $ 16,126,725 $ 22,206,443 Going Concern and Uncertainty (see Note 1 and 5d) Subsequent Events (see Note 22) See Accompanying Notes to the Condensed Interim Consolidated Financial Statements