NEOVASC INC Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Statements of Cash Flows

In millions of USD, except per-share amounts

	FY2021 12 months to Dec 31, 2021	FY2020 12 months to Dec 31, 2020	FY2019 12 months to Dec 31, 2019	FY2018 12 months to Dec 31, 2018
OPERATING ACTIVITIES
Loss for the year
Adjustments for:
Depreciation
Share-based payments
Impairment of right-of-use asset
(Gain)/loss on disposal of assets
Loss on disposal of assets
Accrued employee termination expenses
Collaboration and services provision
Settlement provision
Accretion on collaboration, license and settlement agreement provision
Realized loss on exercise of warrants and convertible note
Unrealized (gain)/loss on warrants, derivative liability warrants and convertible notes
Realized loss/(gain) on exercise or conversion of warrants, derivative Liability warrants and convertible notes
Amortization of deferred loss
Legal expenses and underwriters fees from financing activity
Write-down of fixed assets for obsolescence
Write-down accounts receivable
Income tax expense/(recovery)
Interest expense/(income)
Cash applied to operating activities before change in non-cash working capital

Net change in non-cash working capital items:
Accounts receivable
Inventory
Research and development supplies
Prepaid expenses and other assets
Accounts payable and accrued liabilities
Payment of amounts due on collaboration, license and settlement agreements
Net change in non-cash working capital
Income tax and Interest paid and received:
Income tax recovered/(paid)
Interest received
Total of income tax, interest paid and received
Net cash applied to operating activities
INVESTING ACTIVITIES
(Increase)/decrease in restricted cash
Purchase of property and equipment
Proceeds from sale of assets
Net cash applied to investing activities

FINANCING ACTIVITIES
Proceeds from public offering net of share issuance costs
Proceeds from private placement
Proceeds From Public Offering
Proceeds from exercise of warrants
Proceeds from government assistance
Proceeds from exercise of options
Repayment of 2017 convertible note
Repayment of 2019 convertible note
Interest payment on 2019 convertible note
Payment of lease obligation
Net cash from financing activities
NET CHANGE IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS
Beginning of the year
End of the year
Cash

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