<PAGE>

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                   FORM 10-QSB

 Quarterly Report Pursuant to Section 13 or 15(D) of The Securities Act of 1934

                 For the quarterly period ended: August 31, 2002
                       Commission file number: 000-32249

                             MIV THERAPEUTICS, INC.
        (Exact name of small business issuer as specified in its charter)

            Nevada                                             n/a
(State or other jurisdiction of                (IRS Employee Identification No.)
incorporation or organization)

               1-8765 Ash Street, Vancouver, B.C., Canada, V6P 6T3
                    (Address of principal executive offices)

                                 (604) 301-9545
                           (Issuer's telephone number)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities and Exchange Act of 1934
during the preceding 12 months (or for such shorter period that the registrant
was required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.

Yes [X]         No [ ]

Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date:

Common Stock, $0.001 par value                            17,729,150
          (Class)                            (Outstanding as of August 31, 2002)



<PAGE>


                             MIV THERAPEUTICS, INC.
                                   FORM 10-QSB
                                      INDEX

                                                                            Page
                                                                            ----
Part I - FINANCIAL INFORMATION

Item 1.  Financial Statements (Unaudited)

Consolidated Balance Sheets...................................................3

Consolidated Statement of Operations..........................................4

Consolidated Statement of Cash Flows..........................................5

Notes to Consolidated Financial Information...................................6

Item 2   Management's Discussion and Analysis or Plan of Operation............7

Part II  OTHER INFORMATION

Item 6   Exhibits and Reports on Form 8-K.....................................16

Signatures....................................................................17


<PAGE>


                          PART I: FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS (UNAUDITED)





                             MIV THERAPEUTICS, INC.
                          (FORMERLY DBS HOLDINGS, INC.)
                          (A DEVELOPMENT STAGE COMPANY)


                        CONSOLIDATED FINANCIAL STATEMENTS
                        ---------------------------------


                                 AUGUST 31, 2002
                                   (UNAUDITED)
                            (STATED IN U.S. DOLLARS)


<PAGE>
<TABLE>

                                           MIV THERAPEUTICS, INC.
                                       (FORMERLY DBS HOLDINGS, INC.)
                                       (A DEVELOPMENT STAGE COMPANY)

                                         CONSOLIDATED BALANCE SHEET
                                                (UNAUDITED)
                                          (STATED IN U.S. DOLLARS)
<CAPTION>

----------------------------------------------------------------------------------------------------------
                                                                                AUGUST 31       MAY 31
                                                                                  2002           2002
----------------------------------------------------------------------------------------------------------
                                                                               (UNAUDITED)     (Audited)
                                 ASSETS                                                   (Restated - Note 4)
<S>                                                                            <C>            <C>

CURRENT
     Cash and cash equivalents                                                 $   298,563    $     4,536
     Prepaid expenses and deposits                                                  21,499         21,933
     Other receivable                                                              165,484        163,883
                                                                               ------------   ------------
                                                                                   485,546        190,352
INVESTMENT                                                                          50,000         50,000
LICENSE                                                                                 --        150,000
PLANT AND EQUIPMENT                                                                390,217        428,098
                                                                               ------------   ------------

                                                                               $   925,763    $   818,450
==========================================================================================================

                                LIABILITIES

CURRENT
     Accounts payable and accrued liabilities                                  $   949,939    $   836,530
                                                                               ------------   ------------

STOCKHOLDERS' DEFICIENCY

COMMON STOCK
     Authorized:
         80,000,000 common shares with a par value of $0.001
         20,000,000 preferred shares
     Issued and outstanding:
         16,665,500 common shares at August 31, 2002 and May 31, 2002
                                                                                    16,665         16,665

OTHER CAPITAL ACCOUNTS                                                           8,771,193      8,129,053
DEFICIT ACCUMULATED DURING THE DEVELOPMENT STAGE                                (8,859,513)    (8,136,883)
ACCUMULATED OTHER COMPREHENSIVE INCOME                                              47,479        (26,915)
                                                                               ------------   ------------
                                                                                   (24,176)       (18,080)
                                                                               ------------   ------------

                                                                               $   925,763    $   818,450
==========================================================================================================


Approved by the Directors:


--------------------------------------                    ------------------------------------------------
Director                                                  Director
</TABLE>

                                                  3
<PAGE>
<TABLE>

                                        MIV THERAPEUTICS, INC.
                                    (FORMERLY DBS HOLDINGS, INC.)
                                    (A DEVELOPMENT STAGE COMPANY)

                           CONSOLIDATED STATEMENT OF OPERATIONS AND DEFICIT
                                             (UNAUDITED)
                                       (STATED IN U.S. DOLLARS)

<CAPTION>


----------------------------------------------------------------------------------------------------
                                                                                       PERIOD FROM
                                                                                      INCORPORATION
                                                                                        JANUARY 20
                                                            THREE MONTHS ENDED           1999 TO
                                                                 AUGUST 31               AUGUST 31
                                                           2002            2001            2002
----------------------------------------------------------------------------------------------------
                                                                    (Restated - Note 4)
<S>                                                    <C>             <C>             <C>
EXPENSES
     General and administrative                        $    262,625    $    421,502    $  3,875,802
     Stock based compensation                               196,729       2,677,868       3,532,592
     Research and development                                59,918         282,535       2,456,499
     Depreciation                                            37,881          37,609         317,537
     Interest expense                                        15,477              --         868,681
     Intangible asset impairment (Note 3)                   150,000              --         150,000
                                                       -------------   -------------   -------------

LOSS FROM OPERATIONS                                        722,630       3,419,514      11,201,111

INTEREST INCOME                                                  --          (2,641)        (49,767)
                                                       -------------   -------------   -------------

LOSS FOR THE PERIOD                                    $    722,630    $  3,416,873    $ 11,151,344
====================================================================================================


BASIC AND FULLY DILUTED LOSS PER SHARE                 $      (0.04)   $      (0.22)
====================================================================================


WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING     16,665,500      15,471,569
====================================================================================


     * Note: Stock based compensation does not represent cash remuneration to
     the officers, directors or consultants and the calculation of the "value"
     at the date of grant is more fully disclosed in Note 2.
</TABLE>

                                                  4
<PAGE>
<TABLE>

                                          MIV THERAPEUTICS, INC.
                                      (FORMERLY DBS HOLDINGS, INC.)
                                      (A DEVELOPMENT STAGE COMPANY)

                                   CONSOLIDATED STATEMENT OF CASH FLOWS
                                               (UNAUDITED)
                                         (STATED IN U.S. DOLLARS)
<CAPTION>

---------------------------------------------------------------------------------------------------------
                                                                                            PERIOD FROM
                                                                                           INCORPORATION
                                                                                             JANUARY 20
                                                                THREE MONTHS ENDED             1999 TO
                                                                     AUGUST 31                AUGUST 31
                                                                2002           2001             2002
---------------------------------------------------------------------------------------------------------
                                                                         (Restated - Note 4)
<S>                                                         <C>             <C>             <C>
CASH FLOWS FROM OPERATING ACTIVITIES
     Loss for the period                                    $   (722,630)   $ (3,416,873)   $(11,151,344)

     Adjustments to reconcile loss to net cash used in
       operating activities
         Stock based compensation                                149,629       2,677,868       4,164,344
         Interest expense on related party loan                       --              --         850,000
         Depreciation                                             37,881          37,609         317,537
         Leasehold improvements written down                          --              --          13,300
         Intangible asset impairment                             150,000              --         150,000
     Changes in non-cash working capital items:
         Other receivable                                         (1,601)         (6,913)       (165,640)
         Prepaid expenses and deposits                               434           5,748         (22,179)
         Accounts payable and accrued liabilities                113,409         (62,420)        863,722
                                                            -------------   -------------   -------------
                                                                (272,878)       (764,981)     (4,980,260)
                                                            -------------   -------------   -------------

CASH FLOWS FROM FINANCING ACTIVITIES
     Issuance of common stock and warrants for cash, less
       share issuance costs                                           --          52,500       3,656,143
     Related party loan                                               --              --         850,000
     Cash acquired in reverse acquisition                             --              --          13,824
     Common stock redemption                                          --              --        (120,000)
     Subscriptions received                                      492,511              --       1,818,577
                                                            -------------   -------------   -------------
                                                                 492,511          52,500       6,218,544
                                                            -------------   -------------   -------------

CASH FLOWS FROM INVESTING ACTIVITIES
     Investments                                                      --              --         (50,000)
     Acquisition of license                                           --              --        (150,000)
     Purchases of plant and equipment                                 --         (10,354)       (725,972)
                                                            -------------   -------------   -------------
                                                                      --         (10,354)       (925,972)
                                                            -------------   -------------   -------------

FOREIGN EXCHANGE EFFECT ON CASH                                   74,394         (10,263)        (13,749)
                                                            -------------   -------------   -------------

NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS
                                                                 294,027        (733,098)        298,563

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
                                                                   4,536       1,242,332              --
                                                            -------------   -------------   -------------

CASH AND CASH EQUIVALENTS, END OF PERIOD                    $    298,563    $    509,234    $    298,563
=========================================================================================================
</TABLE>

                                                    5
<PAGE>

                             MIV THERAPEUTICS, INC.
                          (FORMERLY DBS HOLDINGS, INC.)
                          (A DEVELOPMENT STAGE COMPANY)

                    NOTE TO CONSOLIDATED FINANCIAL STATEMENTS

                                 AUGUST 31, 2002
                                   (UNAUDITED)
                            (STATED IN U.S. DOLLARS)



1.   BASIS OF PRESENTATION

     The unaudited consolidated financial statements as of August 31, 2002
     included herein have been prepared without audit pursuant to the rules and
     regulations of the Securities and Exchange Commission. Certain information
     and footnote disclosures normally included in financial statements prepared
     in accordance with United States generally accepted accounting principles
     have been condensed or omitted pursuant to such rules and regulations. In
     the opinion of management, all adjustments (consisting of normal recurring
     accruals) considered necessary for a fair presentation have been included.
     It is suggested that these consolidated financial statements be read in
     conjunction with the May 31, 2002 audited consolidated financial statements
     and notes thereto.

2.   STOCK BASED COMPENSATION

     The Company accounts for employee stock based compensation using the
     intrinsic value method prescribed in Accounting Principles Board Opinion
     No. 25 - "Accounting for Stock Issued to Employees", and related
     interpretations. Accordingly, compensation cost for stock options is
     measured as the excess, if any, of the fair value of the Company's common
     stock at the date of the grant over the amount an employee must pay to
     acquire the common stock. Non-employee stock based compensation is
     accounted for using the fair value method in accordance with SFAS No. 123 -
     "Accounting for Stock Based Compensation".

3.   RELATED PARTY TRANSACTIONS

     During the period ended August 31, 2002, the Company paid $50,991 (2001 -
     $82,469) in management fees to directors of the Company. At August 31,
     2002, $181,588 (2001 - $49,000) payable to the Chief Executive Officer of
     the Company for accrued salary and expenses paid on behalf of the Company.

4.   CHANGE IN ACCOUNTING POLICY

     Effective June 1, 2002, the Company adopted the requirements of SFAS No.
     142 - "Goodwill and Other Intangible Assets". Under SFAS No. 142, goodwill
     and indefinite-lived intangible assets are no longer amortized, but are
     reviewed annually or more frequently if impairment indicators arise, for
     impairment.

     During the quarter ended August 31, 2002, the Company recognized impairment
     loss of $150,000.

     The license was acquired on May 17, 2002 and no amortization was charged to
     operations in the financial statements for the year ended May 31, 2002.


                                       6
<PAGE>


                             MIV THERAPEUTICS, INC.
                          (FORMERLY DBS HOLDINGS, INC.)
                          (A DEVELOPMENT STAGE COMPANY)

                    NOTE TO CONSOLIDATED FINANCIAL STATEMENTS

                                 AUGUST 31, 2002
                                   (UNAUDITED)
                            (STATED IN U.S. DOLLARS)



5.   PRIOR PERIOD ADJUSTMENT

     By an agreement dated May 17, 2002, the Company paid $150,000 for a license
     and $50,000 for 1,000,000 common shares of a listed public company. The
     Company previously recorded the license at $200,000 with value attributed
     to the 1,000,000 common shares. The adjustment results in an increase in
     investment of $50,000 and a decrease in license of $50,000 at May 31, 2002.
     Net loss for the year ended May 31, 2002 and earnings per share were not
     affected.



                                       7
<PAGE>


ITEM 2.           MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS

The following discussion contains forward-looking statements that are subject to
significant risks and uncertainties and should be read in conjunction with the
Company's Condensed Financial Statements and Notes thereto, included elsewhere
within this report. There are several important factors that could cause actual
results to differ materially from historical results and percentages and results
anticipated by the forward-looking statements. The Company has sought to
identify the most significant risks to its business, but cannot predict whether
or to what extent any of such risks may be realized nor can there be any
assurance that the Company has identified all possible risks that might arise.
Investors should carefully consider all of such risks before making an
investment decision with respect to the Company's stock. In particular,
investors should refer to the section entitled, "Factors that May Affect Future
Results and Market Price of Stock".

PLAN OF OPERATION

The Company has developed and acquired a family of medical device technologies
that form the basis of its product development programs. The Company's
proprietary products are derived from its expertise in minimally invasive
implantable devices and from a series of licensed technologies for novel coating
and drug delivery technologies.

The Company's core technologies are the basis for the following products that
are in various stages of commercial development:

     1.       Laser-cut coronary stent - in commercial manufacturing
     2.       Biocompatible coated stent - in late-stage development
     3.       Drug-eluting stent - in preclinical development
     4.       Biodegradable stent - in preclinical development
     5.       ANGIOGENIX(TM)- (as a therapeutic coating for stents) Endovasc
              has approval for FDA phase III trials for other fields of use

In addition, the Company intends to use its proprietary coating and
drug-delivery technologies, along with the biodegradable stent technology, to
develop a series of drug-delivery devices that offer the benefits of local,
sustained delivery of therapeutic agents from a biodegradable platform. The
combination of these features would position MIV Therapeutics as a leader in the
rapidly growing drug delivery sector.

Over the next 2-3 years, the Company intends to expand the volume of
manufacturing of its existing laser-cut stent through private-label agreements
and distribution agreements, targeting markets in countries where a
cost-effective coronary stent would be a competitive product. During this same
timeframe, the Company intends to complete development and obtain a CE mark for
its biocompatible coated stents, which can then be marketed internationally
through agreements with major medical device marketing partners. The initial
focus will be on coated stents for use in angioplasty procedures, where a
biocompatible product is required to prevent the development of restenosis.


                                       8

<PAGE>

While the biocompatible coated stent is in development, the Company will also be
advancing its drug-eluting coronary stent through commercial development. This
product is being developed jointly with Endovasc Ltd., Inc. ("Endovasc"), a
Texas-based drug development company that has licensed its PROstent(TM)
drug-eluting technology to MIVT for use on its proprietary laser-cut stent. Over
the next two years this product will be developed through preclinical and early
human clinical trials for prevention of restenosis, with the objective of
securing a major partner to support late stage human clinical trials and
marketing.

In addition, MIVT has an option to establish a joint venture with Endovasc to
develop a novel biodegradable stent technology that offers the potential for the
commercial development of resorbable medical devices for local drug delivery
applications as well as an ANGIOGENIX (TM) drug coating for stents. The Company
intends to advance this proprietary technology through to commercial development
and utilize it as the basis for a range of drug delivery products for both
coronary and other applications.

After completing development of these products, MIVT will have successfully
transitioned itself from being a manufacturer of coronary stents, into an
innovative drug-delivery company with proprietary technologies that can be
applied to a wide range of therapeutic applications for the delivery of a
variety of pharmaceutical agents.

DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

The Company has incurred annual operating losses since its inception in January
1999 related primarily to the research and clinical development of its
technologies and products, and general administration costs. During the quarter
ended August 31, 2002, the Company posted a loss of $722,630, compared to a loss
of $3.42 million for the three months ended August 31, 2001. The decrease in
expenses is mainly attributable to the fact that the 2001 results for the same
period include charges of $2.03 million to the Consolidated Statement of
Operations, representing the fair value of Stock Based Compensation granted on
August 30, 2001. Another $236,868 was charged to the Consolidated Statement of
Operations based on the issuance of 113,334 shares for finders' fees.

The working capital deficit increased from a deficit of $119,712 (August 31,
2001) to a deficit of $464,393 (August 31, 2002) the increase in the working
capital deficit is due primarily to an increase in accounts payable and a
decrease in cash and other current assets.

The Company's main focus during the three months ending August 31, 2002 has been
the continued research and development of new therapeutic technologies and its
biocompatible coating for stent and drug delivery systems.

General & Administrative Expenses
---------------------------------

General and administrative expenses decreased to $262,625 during the quarter
ended August 31, 2002, compared to $421,502 for the quarter ended August 31,
2001. The decrease in 2002 is mainly due to improved operating efficiencies
within the company.


                                       9
<PAGE>

Research & Development Expenses
-------------------------------

Research and developmental costs decreased 79% during the quarter ended August
31, 2002 to $59,918 compared to $282,535 for the quarter ended August 31, 2001.
The decrease in 2002 resulted primarily from the Company focusing on research
and development on its coating technology. During the same period last year the
Company experienced one time expenses such as legal costs related to patent
application fees, costs related to in vitro testing, and consulting costs
incurred in developing the company's quality system for the attainment of the CE
mark. In addition, the company now employs significantly fewer R&D personnel.

Depreciation Expense
--------------------

Depreciation expenses increased by $272 during the quarter ended August 31, 2002
to $37,881 compared to $37,609 for the quarter ended August 31, 2001. The change
in 2002 was mainly due to the added depreciation expense associated with the
addition of laboratory equipment for the R&D subsidiary.

Liquidity And Capital Resources
-------------------------------

Since inception, the Company has financed its operations from private financing,
the exercise of warrants and interest income. The company has suffered recurring
losses from operations and has a working capital deficiency of $464,393 (current
assets-current liabilities), which raises substantial doubt about its ability to
continue as a going concern.

Stock based compensation decreased substantially to $196,729 for the quarter
ended August 31, 2002, from $2,677,868 during the same period in 2001.

Financing
---------

The Company's capital requirements have been and will continue to be
significant. As of August 31, 2002, the Company had a working capital deficiency
of $464,393.

Cash flow from financing activities increased to $492,511 for the quarter
compared to $52,500 for the same period in 2001, resulting in a net increase in
Cash to $294,027 and total Cash and Cash Equivalents of $298,563. Despite the
favorable increase in Cash there was a decrease from the same period last year
from $509,234 for the period ended August 31, 2001, to $298,563 for the period
ended August 31, 2002.

The subscriptions received were for a private placement of 1,063,650 Units for
$0.40 each, consisting of one common share and one non-transferable share
purchase warrant to purchase an additional share for $1.00 until August 27,
2003. An aggregate of $425,460 was received for the Units during the quarter.


                                       10
<PAGE>

Warrants
--------

As at August 31, 2002, the Company has outstanding warrants to purchase
3,693,333 common shares at $1.50 per share, 2,560,000 expiring on April 30,
2003, and 1,133,333 expiring on June 14, 2003.

In addition, the common shares and warrants underlying the 1,063,650 Units for
which subscriptions were received during the quarter were issued as of August
27, 2002. The 1,063,000 warrants are non-transferable and entitle the owner to
purchase one common share for $1.00 until August 27, 2003.

The following table summarizes information about the warrants issued by the
Company:

                                                              Number of
Quarter ended August 31, 2002                                 underlying shares
-----------------------------                                 -----------------

Warrants outstanding - May 31, 2002                           3,693,333
Warrants issued                                               1,063,650
Warrants expired                                              0
Balance, end of period - August 31, 2002                      4,756,983(1)

(1) The Company entered into two major financial consulting agreements during
the quarter. One contract required a payment of $15,000 and the granting of
500,000 warrants to purchase common stock at $0.40 per share with a date of
expiry of August 23, 2007. The second contract includes an initial retainer of
$10,000 with a monthly payment of $5,000 a month thereafter, and the grant of
600,000 warrants to purchase common shares for $0.01 per share, however, the
term of the warrants has yet to be determined by the parties. The issuance of
the warrants is still subject to approval by the Board of Directors. Management
does not anticipate that approval will be denied, and the warrants are expected
to be issued in a subsequent event. This will bring the total to 5,856,983
warrants issued and outstanding. These transactions resulted in an expense of
$47,100 being recorded in the quarter ended August 31, 2002.

Stock-based compensation
------------------------

The Company does not have a formal stock option plan. The Company has however
granted incentive stock options to employees, consultants, officers and
directors of the Company.

At May 31, 2002, the Company had 3,965,000 options outstanding. During the three
months ended August 31, 2002, the Company granted 490,000 options and cancelled
100,000 options.

                                       11
<PAGE>

The following table summarizes information about the stock options issued by the
Company:

                                            Number of         Weighted Average
Quarter ended August 31, 2002               Options           Exercise Price
-----------------------------               -------           --------------

Options outstanding - May 31, 2002          3,575,000              $0.86
Options issued                                490,000              $0.79
Options cancelled                            (100,000)             $1.50
Balance, end of period - August 31, 2002    3,965,000              $0.81

Cash Position
-------------

At August 31, 2002, the Company had cash and cash equivalents of $298,563
compared to $4,536 at May 31, 2002. The increase in the Company's cash position
is due primarily to private placement subscriptions collected for the Company's
Units. The working capital deficiency decreased from a deficiency of $646,098 at
May 31, 2002 to a deficit of $464,393 as at August 31, 2002. The change in
working capital is a direct result from the Company's private placement of Units
which raised $425,460.

The company intends to raise additional funds through equity financings via
private placements, as it may need to raise additional capital to fund
operations over the long-term. There can be no guarantee that such funds will be
available to the Company.

Accounts Payable & Accrued Liabilities
--------------------------------------

Accounts payable and accrued liabilities increased 14 % in the quarter ended
August 31, 2002 to $949,939 compared to $836,530 at May 31, 2002. This increase
is a result of a delay in payments made by the Company to its creditors.

Cash requirements and need for additional funds
-----------------------------------------------

To date, the Company has invested approximately US$6 million in research and
development of its stent products, coatings and operations establishing a
quality manufacturing facility and completing laboratory and preclinical testing
on its stents. The Company also has developed strong research collaborations
with the University of British Columbia for its proprietary stent coatings and
has implemented an aggressive in-house product development program. The Company
has also established a strategic alliance with Endovasc.

In order to initiate marketing efforts for its laser-cut stent, commercialize
its HAp coating technologies and move the PROstent(TM) product into preclinical
studies, the Company will require US$5 million in 2003. These funds could be
provided through exercise of existing warrants and options, or through a
subsequent round of financing.

Factors That May Affect Future Results and Market Price of Stock.
-----------------------------------------------------------------

The business of the Company involves a number of risks and uncertainties that
could cause actual results to differ materially from results projected in any
forward-looking statement, or statements, made in this report. These risks and
uncertainties include, but are not necessarily limited to the risks set forth
below. The Company's securities are speculative and investment in the Company's
securities involves a high degree of risk and the possibility that the investor
will suffer the loss of the entire amount invested.

                                       12
<PAGE>

DEVELOPMENT STAGE COMPANY

The Company is in the development stage and currently has no products approved
for sale or use. The Company will not be able to sell significant quantities of
its products until such time, if ever, as it receives regulatory approval to
commercially market such products, and thus the Company's long-term viability,
growth, and profitability will depend upon successful testing, approval, and
commercialization of the MIVI Stent or other products resulting from its
research and development activities. Adverse or inconclusive results in clinical
trials of these products could significantly delay or ultimately preclude any
regulatory approvals, and even if obtained there can be no assurance that any
product approval would lead to the successful commercialization of the product
approved. Furthermore, the Company does not expect to begin the regulatory
approval process in the United States for at least the next three years, and
will only pursue approval and marketing of its products in the countries
recognizing the CE Mark, such as most European and Asian countries.

LIMITED OPERATING HISTORY.

The Company has a limited operating history upon which an evaluation of its
prospects can be made. There can be no assurance that the Company will
effectively execute MIV's business plan or manage any growth of the MIV
business, or that the Company's future operating and financial forecast will be
met. Future development and operating results will depend on many factors,
including access to adequate capital, the completion and regulatory approval of
marketable products, the demand for the Company's products, the level of product
and price competition, the Company's success in setting up and expanding
distribution channels, and whether the Company can control costs. Many of these
factors are beyond the control of the Company. In addition, the Company's future
prospects must be considered in light of the risks, expenses, and difficulties
frequently encountered in establishing a new business in the medical device
industry, which is characterized by intense competition, rapid technological
change, highly litigious competitors, potential product liability and
significant regulation.

HISTORY OF LOSSES, ANTICIPATED FUTURE LOSSES.

Since inception, the Company has suffered recurring losses, totaling $11,151,344
as of August 31, 2002. The Company has funded its operations through the
issuance of common stock, and through related party loans since inception, in
order to meet its strategic objectives. The Company anticipates that losses will
continue until such time, if ever, as the Company is able to generate sufficient
revenues to support its operations. The Company's ability to generate revenue
primarily depends on its success in completing development and obtaining
regulatory approvals for the commercial sale of the products under development.
There can be no assurance that any such events will occur, that the Company will
attain revenues from commercialization of its products, or that the Company will
ever achieve profitable operations.

                                       13
<PAGE>

UNPREDICTABILITY OF REVENUES.

The life cycle of the products that the Company plans to develop is difficult to
predict. Failure to gain timely market acceptance of its products would have a
material adverse effect on the Company's ability to generate revenue, and would
have a material adverse effect on the Company's business, financial condition
and results of operations. To successfully gain market acceptance, the Company
must develop the ability to manufacture its products in large quantities in
compliance with regulatory requirements and at an acceptable cost. The Company
has no long-term experience in manufacturing stent products, and could
experience difficulties in development or manufacturing that may have a material
adverse effect on the Company's ability to market its product. Moreover, there
can be no assurance that the Company will be successful in scaling up
manufacturing operations sufficient to produce its products in sufficient volume
to generate market acceptance.

COMPETITION AND MARKET FACTORS.

The market in which the Company intends to operate is dominated by several large
firms with established products, and the Company's success is dependant upon
acceptance of its products by the medical community as reliable, safe and
cost-effective. It may be difficult or impossible for the Company to achieve
such acceptance of its products in view of these market conditions. In addition,
the Company's competitors are more financially stable than the Company and have
significant resources for research and development available to them. Thus it is
likely that they will be quicker to market than the Company, with products that
will compete with its products, should it be successfully approved and
commercialized. Moreover, even if the Company successfully brings its products
to market ahead of its projected competitors, established competitors could
quickly bring products to market that would compete. In addition, the medical
device market is subject to constant introduction of new products and designs.
Market acceptance of the Company's products may be influenced by new products or
technologies that come to market, which could render the Company's products
obsolete or prohibitively expensive.

DEPENDENCE ON FINANCING.

The Company's capital requirements have been and will continue to be
significant. The Company will be dependant on future financing to fund its
research and development as well as other working capital requirements. The
Company estimates that its current working capital will support its activities
for no more than four months. After that time, the Company will need additional
financing. The Company is currently anticipating further subscriptions for its
common stock, but there can be no assurance that these subscriptions will be
forthcoming or that they will result in sufficient capital for the Company to
meet its current and expected working capital needs. It is not anticipated that
any of the officers, directors or current shareholders of the Company will
provide any significant portion of the Company's future financing requirements.
Furthermore, in the event that the Company's plans change, its assumptions
change or prove inaccurate, or its capital resources prove to be insufficient to
fund operations, the Company could be required to seek additional financing
sooner than currently anticipated, or in greater amounts than is currently
anticipated. Any inability to obtain additional financing when needed would have
a material adverse effect on the Company, including possibly requiring the
Company to significantly curtail or possibly cease its operations. In addition,
any future equity financing may involve substantial dilution to the Company's
existing shareholders.

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DEPENDENCE MANAGEMENT AND RECRUITING.

The Company currently has 6 full time employees and only three full-time
officers and directors. In addition, the Company has entered into consulting
agreements with three individuals two of whom are also a Directors, to provide
management services to the Company. The remainder of the Company's management
has been undertaken by independent consultants. This may make it difficult for
the Company to attract capital investment sufficient to meet its capital needs.
Because the Company is in the development stage and has not yet produced a
marketable product, it will be reliant upon its ability to attract skilled
members of the Stent or medical products industries. There can be no assurance
that the Company will be able to identify suitable candidates for employment, or
to attract them to the Company should they be identified. In addition, the
Company will be heavily dependent upon creative design and engineering skills of
individuals with whom it has little familiarity, and who may not perform as
expected.

INTELLECTUAL PROPERTY RISKS.

With respect to the Company's bare stent technology, its success will depend in
part on whether the Company can obtain patent protection for its products and
processes, preserve trade secrets and proprietary technology, and operate
without infringing upon patent or other proprietary rights of third parties. The
Company has patent applications pending in the United States and in several
foreign markets, but there can be no assurance that any of these patents will be
issued or that patents will not be challenged. A significant number of medical
device companies, other companies, universities, and research institutions have
filed patent applications or have been issued patents relating to stents and
stent delivery systems, and there has been substantial litigation in this area.
Established companies in the medical products industry generally, and the stent
industry in particular, are aggressive in attempts to block new entrants to
their markets, and the Company's products, if successfully developed, may
interfere with the intellectual property rights of these companies. The
Company's success will depend on its products not infringing patents that the
Company expects would be vigorously prosecuted. Furthermore, the validity and
breadth of claims in medical technology patents involve complex legal and
factual questions and, therefore, are highly uncertain. Even if the Company
successfully patents the MIVI laser-cut stent, there can be no assurance that it
would be able to successfully assert its patents against competing products. In
addition, infringement claims against the MIVI laser-cut stent could be
sufficiently expensive to have a material adverse effect on the Company's
results or ability to continue marketing its products.

PRODUCT LIABILITY EXPOSURE.

The Company's business exposes it to potential product liability risks, which
are inherent in the testing, manufacturing, marketing and sale of medical
products. While the Company will take precautions it deems to be appropriate to
avoid product liability suits against it, there can be no assurance that it will
be able to avoid significant product liability exposure. Product liability
insurance for the medical products industry is generally expensive, to the
extent it is available at all. The Company has not yet sought to obtain product
liability coverage. The Company intends to obtain such coverage when it is
apparent that the MIVI Stent or other products developed by the Company will be
marketable. There can be no assurance that it will be able to obtain such
coverage on acceptable terms, or that any insurance policy will provide adequate
protection against potential claims. A successful product liability claim
brought against the Company may exceed any insurance coverage secured by the
Company, and could have a material adverse effect on the Company's results or
ability to continue marketing its products.

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UNCERTAINTY OF HEALTHCARE REIMBURSEMENT.

The health care industry is subject to changing political, economic and
regulatory influences that may affect the procurement practices and operations
of healthcare industry participants. During the past several years, government
regulation of the healthcare industry has changed significantly in several
countries. Healthcare industry participants may react to new policies by
curtailing or deferring use of new treatments for disease, including treatments
that would use the products that the Company intends to develop. This could
substantially impair the Company's ability to successfully commercialize the
MIVI Stent, which would have a material adverse effect on the Company's
performance.

PENNY STOCK RULE.

The Company's common stock is listed on the OTCBB. Investors may find it more
difficult to dispose of, or to obtain accurate quotations as to the market value
of, the Company's common stock than would otherwise be the case were the
Company's common stock listed on a more recognized stock exchange or quotation
service. In addition, trading in the Company's common stock is currently subject
to certain rules under the Exchange Act, which require additional disclosure by
broker-dealers in connection with any trades involving a stock defined as a
"penny stock." Penny stocks are generally non-Nasdaq equity securities with a
market price less than $5.00 per share. The penny stock rules require
broker-dealers selling penny stocks to make certain disclosures about such
stocks to purchasers thereof, and impose sales practice restrictions on
broker-dealers in certain penny stock transactions. The additional burdens
imposed upon broker-dealers by these rules may discourage them from effecting
transactions in the Company's common stock, which could limit the liquidity of
the common stock and the ability of the Company's stockholders to sell their
stock in the secondary market.

PART II:  OTHER INFORMATION

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K
-------  --------------------------------

(a)      Exhibits

          3.1      Articles of Incorporation of the Registrant (1)
          3.2      By-laws of the Registrant (1)
          99.1     Section 906 Certification of CEO
          99.2     Section 906 Certification of CFO
          ---------------



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(1)  Previously filed as an Exhibit to MIV Therapeutics, Inc.'s registration
     statement on Form 10-SB filed April 25, 2000.


(b)  Reports on Form 8-K filed during the three months ended August 31, 2002.

     No Current Reports on Form 8-K were filed during the three months ended
August 31, 2002


SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

Date:  October 9, 2002                         MIV Therapeutics, Inc.

                                               /s/ Alan Lindsay
                                               -------------------------------
                                               Alan Lindsay
                                               President


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