NEOVASC INC | CIK:0001399708 | 3

  • Filed: 5/16/2018
  • Entity registrant name: NEOVASC INC (CIK: 0001399708)
  • Generator: Merrill
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1399708/000104746918003806/0001047469-18-003806-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1399708/000104746918003806/nvcn-20171231.xml
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  • ifrs-full:DisclosureOfExpensesByNatureExplanatory

                                                                                                                                                                                                                            

     

     

     

    For the years ended December 31,

     

     

     

     

    2017

     

    2016

     

    2015

     

     

    COST OF GOODS SOLD

     

     

     

     

     

     

     

     

     

     

     

    Depreciation

     

    $

    59,115

     

    $

    209,613

     

    $

    165,884

     

     

    Share-based payments

     

     

    70,242

     

     

    45,803

     

     

    310,360

     

     

    Cash-based employee expenses

     

     

    2,595,654

     

     

    2,753,841

     

     

    3,070,566

     

     

    Other expenses

     

     

    752,810

     

     

    4,082,504

     

     

    3,391,324

     

     

     

     

     

     

     

     

     

     

     

     

     

    $

    3,477,821

     

    $

    7,091,761

     

    $

    6,938,134

     

     

     

     

     

     

     

     

     

     

     

    EXPENSES

     

     

     

     

     

     

     

     

     

     

     

    Selling expenses

     

     

     

     

     

     

     

     

     

     

     

    Share-based payments

     

    $

    98,379

     

    $

    138,334

     

    $

    120,780

     

     

    Cash-based employee expenses

     

     

    202,261

     

     

    109,150

     

     

    31,447

     

     

    Other expenses

     

     

    585,586

     

     

    449,154

     

     

    503,442

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    886,226

     

     

    696,638

     

     

    655,669

     

     

     

     

     

     

     

     

     

     

     

    General and administrative expenses

     

     

     

     

     

     

     

     

     

     

     

    Depreciation

     

     

    93,196

     

     

    119,977

     

     

    78,544

     

     

    Share-based payments

     

     

    1,080,627

     

     

    510,508

     

     

    1,323,583

     

     

    Cash-based employee expenses

     

     

    2,792,897

     

     

    2,713,110

     

     

    2,128,392

     

     

    Litigation expenses

     

     

    2,410,350

     

     

    13,170,138

     

     

    7,058,226

     

     

    Expenses related to the financing

     

     

    5,447,182

     

     

    —

     

     

    —

     

     

    Other expenses

     

     

    3,860,531

     

     

    2,669,054

     

     

    3,324,331

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    15,684,783

     

     

    19,182,787

     

     

    13,913,076

     

     

     

     

     

     

     

     

     

     

     

    Product development and clinical trials expenses

     

     

     

     

     

     

     

     

     

     

     

    Depreciation

     

     

    382,234

     

     

    426,144

     

     

    259,281

     

     

    Share-based payments

     

     

    1,235,294

     

     

    1,115,466

     

     

    2,359,442

     

     

    Cash-based employee expenses

     

     

    4,971,668

     

     

    6,183,013

     

     

    5,000,258

     

     

    Other expenses

     

     

    10,899,896

     

     

    11,639,880

     

     

    9,562,414

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    17,489,092

     

     

    19,364,503

     

     

    17,181,395

     

     

     

     

     

     

     

     

     

     

     

    TOTAL EXPENSES

     

    $

    34,060,101

     

    $

    39,243,928

     

    $

    31,750,140

     

     

     

     

     

     

     

     

     

     

     

    Depreciation per Statements of Cash Flows

     

    $

    534,545

     

    $

    755,734

     

    $

    503,709

     

     

     

     

     

     

     

     

     

     

     

    Share-based payments per Statements of Cash Flows

     

    $

    2,484,542

     

    $

    1,810,111

     

    $

    4,114,165

     

     

     

     

     

     

     

     

     

     

     

    Cash-based employee expenses (see Note 19)

     

    $

    10,562,480

     

    $

    11,759,114

     

    $

    10,230,663