<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, 2003
                        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                28,413,963
                    (Class)                 (Outstanding as of August 31, 2003)

<PAGE>


                             MIV THERAPEUTICS, INC.
                                   FORM 10-QSB
                                      INDEX

                                                                            PAGE
                                                                            ----
Part I - FINANCIAL INFORMATION

Item 1.  Financial Statements (Unaudited)

Consolidated Balance Sheets..................................................F-1

Consolidated Statement of Operations.........................................F-2

Consolidated Statement of Cash Flows.........................................F-3

Notes to Consolidated Financial Information..................................F-4

Item 2   Management's Discussion and Analysis or Plan of Operation...........3

Item 3   Controls and Procedures.............................................11

Part II  OTHER INFORMATION

Item 1   Legal Proceedings...................................................11

Item 2   Changes in Securities...............................................11

Item 3   Default Upon Senior Securities......................................12

Item 4   Submission of Matters to a Vote of Security Holders.................12

Item 5   Other Information...................................................12

Item 6   Exhibits and Reports on Form 8-K....................................12

Signatures...................................................................13

Certifications...............................................................14


                                       2
<PAGE>
<TABLE>

                                    PART I: FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS (UNAUDITED)

                                       MIV THERAPEUTICS, INC.
                                    (A DEVELOPMENT STAGE COMPANY)

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

----------------------------------------------------------------------------------------------------------
                                                                          AUGUST 31             MAY 31
                                                                             2003                2003
----------------------------------------------------------------------------------------------------------

                                ASSETS
                                ------
<S>                                                                      <C>                <C>
CURRENT
     Cash and cash equivalents                                           $     83,170       $     11,614
     Prepaid expenses and deposits                                             24,184             46,819
     Other receivable                                                         163,045            165,485
                                                                         --------------------------------
                                                                              270,399            223,918
INVESTMENT, at cost                                                            50,000             50,000
PLANT AND EQUIPMENT, net                                                      278,393            312,179
                                                                         --------------------------------

                                                                         $    598,792       $    586,097
                                                                         ================================

                              LIABILITIES
                              -----------
CURRENT
     Accounts payable                                                    $    418,021       $    448,959
     Due to related parties (Note 4)                                           82,149            136,983
                                                                         --------------------------------
                                                                              500,170            585,942
LOAN PAYABLE (Note 3)                                                         500,000            500,000
                                                                         --------------------------------
                                                                            1,000,170          1,085,942
                                                                         --------------------------------

STOCKHOLDERS' DEFICIENCY

CAPITAL STOCK
     Authorized:
         80,000,000 common shares with a par value of $0.001
         20,000,000 preferred shares with a par value of $0.001
     Issued and outstanding:
         28,413,963 common shares at August 31, 2003 and 24,577,047
           common shares at May 31, 2003                                       28,413             24,577

ADDITIONAL PAID-IN CAPITAL                                                 11,328,268          9,403,308
WARRANTS                                                                    1,862,497          2,093,760
DEFERRED COMPENSATION                                                        (485,179)           (48,649)
COMMON STOCK ISSUABLE                                                              --             31,244
DEFICIT ACCUMULATED DURING THE DEVELOPMENT STAGE                          (13,081,387)       (11,952,336)
ACCUMULATED OTHER COMPREHENSIVE INCOME                                        (53,990)           (51,749)
                                                                         --------------------------------
                                                                             (401,378)          (499,845)
                                                                         --------------------------------

                                                                         $    598,792       $    586,097
                                                                         ================================
</TABLE>

                                                 F-1

<PAGE>
<TABLE>
                                            MIV THERAPEUTICS, 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
                                                              2003               2002                2003
--------------------------------------------------------------------------------------------------------------
<S>                                                       <C>                <C>                <C>
EXPENSES
     General and administrative                           $    573,085       $    262,625       $  6,066,262
     Stock based compensation                                       --            196,729          3,426,665
     Research and development                                   73,354             59,918          2,762,890
     Depreciation                                               35,605             37,881            467,111
     Interest expense                                            7,434             15,477            883,241
     Licenses acquired charged to operations                        --            150,000            479,780
                                                          ---------------------------------------------------

LOSS FROM OPERATIONS                                           689,478            722,630         14,085,949

LOSS (GAIN) ON FOREIGN EXCHANGE                                     87                 --             11,207
INTEREST INCOME                                                     --                 --            (49,767)
                                                          ---------------------------------------------------


LOSS FOR THE PERIOD BEFORE MINORITY INTEREST                   689,565            722,630         14,047,389

LESS:  MINORITY INTEREST SHARE OF LOSS                              --                 --         (1,224,308)
                                                          ---------------------------------------------------

NET LOSS FOR THE PERIOD                                   $    689,565       $    722,630       $ 12,823,081
                                                          ===================================================


BASIC AND DILUTED LOSS PER SHARE                          $      (0.03)      $      (0.04)
                                                          =================================



WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING        27,297,100         16,665,500
                                                          =================================

</TABLE>

     * 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.

                                                 F-2

<PAGE>
<TABLE>
                                            MIV THERAPEUTICS, 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
                                                                      2003            2002               2003
------------------------------------------------------------------------------------------------------------------
<S>                                                            <C>                <C>                <C>
CASH FLOWS FROM OPERATING ACTIVITIES
     Loss for the period                                       $   (689,565)      $   (722,630)      $(14,047,389)

     Adjustments to reconcile loss to net cash used in
       operating activities
         Stock based compensation                                        --            149,629          3,703,649
         Shares issued for other than cash                          278,069                 --          2,024,477
         Interest expense on related party loan                          --                 --            850,000
         Depreciation                                                35,605             37,881            467,111
         Leasehold improvements written down                             --                 --             13,300
         Intangible asset impairment                                     --            150,000            150,000

     Changes in non-cash working capital items:
         Other receivable                                             2,440             (1,601)          (163,201)
         Prepaid expenses and deposits                               22,634                434            (24,864)
         Accounts payable and accrued liabilities                   (30,938)           113,409            442,638
                                                               ---------------------------------------------------
                                                                   (381,755)          (272,878)        (6,584,279)
                                                               ---------------------------------------------------

CASH FLOWS FROM FINANCING ACTIVITIES
     Issuance of common stock and warrants for cash, less
       share issuance costs                                         512,204                 --          5,063,106
     Due to related parties                                         (54,834)                --            932,149
     Cash acquired in reverse acquisition                                --                 --             13,824
     Loan payable                                                        --                 --            500,000
     Common stock redemption                                             --                 --           (120,000)
     Subscriptions received                                              --            492,511          1,357,310
                                                               ---------------------------------------------------
                                                                    457,370            492,511          7,746,389
                                                               ---------------------------------------------------

CASH FLOWS FROM INVESTING ACTIVITIES
     Acquisition of license                                              --                 --           (200,000)
     Purchases of plant and equipment                                (1,819)                --           (763,722)
                                                               ---------------------------------------------------
                                                                     (1,819)                --           (963,722)
                                                               ---------------------------------------------------

FOREIGN EXCHANGE EFFECT ON CASH                                      (2,241)            74,394           (115,219)
                                                               ---------------------------------------------------

NET INCREASE IN CASH AND CASH EQUIVALENTS                            71,555            294,027             83,169


CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD                       11,614              4,536                 --
                                                               ---------------------------------------------------

CASH AND CASH EQUIVALENTS, END OF PERIOD                       $     83,169       $    298,563       $     83,169
                                                               ===================================================
</TABLE>

                                                      F-3

<PAGE>

                             MIV THERAPEUTICS, INC.
                          (A DEVELOPMENT STAGE COMPANY)

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                 AUGUST 31, 2003
                                   (UNAUDITED)
                            (STATED IN U.S. DOLLARS)



1.   BASIS OF PRESENTATION

     The unaudited consolidated financial statements as of August 31, 2003
     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, 2003 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.   LOAN PAYABLE

     Loan payable is secured by the investment in 1,000,000 Class A common
     shares of Endovasc Ltd. Inc. The loan is repayable on December 30, 2005,
     bearing interest per annum equal to the London Interbank Offered Rate plus
     1%. Interest is payable semi-annually commencing on June 2, 2003. In the
     event the Company fails to pay interest or principal when due or upon the
     occurrence of an event of default, the unpaid principal or interest shall
     accrue interest at a rate of 3% per annum above the rate otherwise
     applicable.

     The Company failed to make the interest payment required on June 2, 2003.
     Consequently on June 12, 2003, the loan became in default and the lender
     became entitled to deal with the Endovasc Ltd. Inc. stock in any manner it
     chooses in its sole discretion. The agreement requires that in the event of
     any sale of the collateral, the lender shall account for the number of
     shares sold. In the event there is collateral remaining after payment of
     principal and accrued interest, the lender shall return the remaining
     unsold portion of the collateral to the Company. The Company has not
     received any notice of default from the lender nor an accounting from the
     lender for shares sold, if any, subsequent to June 12, 2003. In the event
     the lender realizes on their collateral, the Company's investment in
     Endovac Ltd. Inc. will have been disposed of and the proceeds applied
     against the loan payable.


                                       F-4
<PAGE>


                             MIV THERAPEUTICS, INC.
                          (A DEVELOPMENT STAGE COMPANY)

                    NOTE TO CONSOLIDATED FINANCIAL STATEMENTS

                                 AUGUST 31, 2003
                                   (UNAUDITED)
                            (STATED IN U.S. DOLLARS)



4.   RELATED PARTY TRANSACTIONS

     During the period ended August 31, 2003, the Company paid $54,597 (2002 -
     $50,991) in management fees to directors of the Company. At August 31,
     2003, $82,149 (2002 - $181,588) payable to the Chief Executive officer of
     the Company for accrued salary and expenses paid on behalf of the Company,
     of which $99,500 was secured by the assets of the Company.


5.   SUBSEQUENT EVENTS

     Subsequent to August 31, 2003, the Company issued:

     a)  40,000 units for finder's fees at a value of $12,000. Each unit
         consists of one common share and one share purchase warrant. Each
         warrant entitles the holder to purchase one additional common share at
         a price of $0.75 until July 11, 2004.

     b)  75,000 common shares for consulting services rendered at a value of
         $34,500.

     c)  5,475 common shares to a director of the Company for services rendered
         at a value of $2,190.

     d)  200,000 common shares for consulting services rendered at a value of
         $80,000.

     e)  9,323 common shares for services rendered at a value of $4,289.

     f)  6,000,000 common shares were issued to a financial custodian acting as
         trustee pursuant to a listing of the Company's shares on the Berlin
         Stock Exchange. The Company is conducting a Regulation S Offering
         through the facilities of the Berlin Stock Exchange to raise capital in
         mainly German speaking countries. Up to a maximum of 10,000,000 Reg. S
         shares of the Company will be offered through the exchange at an
         expected price of $0.50 only to non-U.S. persons. The trustee will
         receive a fee of 3% of the total value of the shares held in trust to
         be paid in equal instalments of 30,000 common shares per month over a
         ten month period, assuming the maximum offering is sold. The shares may
         only be traded on German stock exchanges pursuant to Regulation S.

     g)  200,000 common shares with a deemed value of $100,000 were issued
         pursuant to a fee agreement as a retainer for future legal services.
         The shares are held in trust pending the actual performance and
         invoicing of services.


                                       F-5

<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. 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 OPERATIONS
------------------

The Company is developing and has 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 coating for stents and drug delivery
                  applications - in late-stage development
         3.       Drug-eluting stent - in preclinical development
         4.       ANGIOGENIX(TM)- (as a therapeutic coating for stents) - in
                  early stage development(Endovasc is currently preparing an IND
                  application and formulating Angiogenix(TM) for FDA Phase III
                  trials for fields of use not involving stents)

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.

                                       3
<PAGE>

In addition, MIVT has established 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, 2003, the Company posted a loss of $689,478, compared to a loss
of $722,630 for the three months ended August 31, 2002.

The working capital deficit decreased from a deficit of $362,024 (August, 2002)
to a deficit of $229,771 (August, 2003) the decrease in the working capital
deficit is due primarily to decreases in accounts payable and accrued
liabilities.

The Company's main focus during the three months ending August 31, 2003 has been
the continued research and development of new therapeutic technologies and its
biocompatible coating for stent and drug delivery systems. During this period of
time, the Company initiated the transfer of technology from the University of
British Columbia to its company owned premises with focus on the introduction of
proper process controls and volume production. This transition was facilitated
through the acquisition of sophisticated measuring and processing equipment.
[INSERT ANIMAL TRIALS HERE]

GENERAL & ADMINISTRATIVE EXPENSES
---------------------------------

General and administrative expenses increased to $573,085 during the quarter
ended August 31, 2003, compared to $262,625 for the quarter ended August 31,
2002. The increase in 2003 is mainly due to the expanded scope of the company's
operations which includes a significant increase in non-cash compensation paid
to consultants for technical advice and investor relations.

RESEARCH & DEVELOPMENT EXPENSES
-------------------------------

Research and developmental costs increased during the quarter ended August 31,
2003 to $73,354 compared to $59,918 for the quarter ended August 31, 2002. The
increase in 2003 resulted primarily from the Company's increase of research and
development and animal trials on its coating technology.

                                       4
<PAGE>

DEPRECIATION EXPENSE
--------------------

Depreciation expenses remained fairly constant at $35,605 during the quarter
ended February 28, 2003 compared to $37,881 for the quarter ended February 8,
2002.

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 $229,771 (current
assets less current liabilities), which raises substantial doubt about its
ability to continue as a going concern.

There was no stock based compensation for the quarter ended August 31, 2003,
compared to stock based compensation of $149,629 during the same period in 2002.

FINANCING
---------

The Company's capital requirements have been and will continue to be
significant. As of August 31, 2003, the Company had a working capital deficiency
of $229,771.

Cash flow from financing activities decreased slightly to $457,370 compared to
$492,511 for the same period in 2002.

The subscriptions received were for a private placement of 618,750 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. 593,750 of the
warrants expire on December 13, 2003, the remaining 25,000 expire on January 31,
2004. An aggregate of $224,994 was received for the Units during the quarter.

WARRANTS
--------

As at August 31, 2003, the Company has outstanding warrants to purchase
11,465,413 common shares.

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

                                                              Number of
Quarter Ended August 31, 2003                                 Underlying Shares
-----------------------------                                 -----------------

Warrants outstanding - May 31, 2003                           10,717,821
Warrants issued                                               747,592 (1)
Warrants expired                                                       0
Balance, end of period - February 28, 2003                    11,465,413


                                       5
<PAGE>

         (1)      During the quarter, the Company accepted several private
                  placement subscription agreements for an aggregate of 747,592
                  units. Each units consisted of one common share and one
                  warrant to purchase a share at a price of $0.75. 622,592 units
                  were purchased at a price of $0.20 per unit, 85,000 units were
                  purchased at a price of $0.25 per unit, and 40,000 units were
                  purchased at a price of $0.30 per unit. 657,592 warrants
                  expire on June 26, 2004, 40,000 warrants expire on August 15,
                  2004, and 50,000 warrants expire on August 28, 2004.

STOCK-BASED COMPENSATION
------------------------

Under the Company's 2001 Stock Option Compensation Plan, a total of 5,000,000
options may be granted. The Company has granted these incentive stock options to
employees, consultants, officers and directors of the Company.

At August 31, 2003, the Company had 4,175,000 options outstanding. During the
three months ended August 31, 2003, the Company did not grant any options and no
options lapsed.

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


                                             Number of         Weighted Average
Quarter Ended August 31, 2003                Options           Exercise Price
-----------------------------                ---------         ----------------

Options outstanding -May 31, 2003            4,175,000                  $0.84
Options issued                                       0
Options cancelled                                    0
Balance, end of period - August 31, 2003     4,175,000                  $0.84

CASH POSITION
-------------

At August 31, 2003, the Company had cash and cash equivalents of $83,169
compared to a cash position of $298,563 at August 31, 2002. The decrease in the
Company's cash position is due primarily to an increase in the scope of the
Company's operations.

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 decreased in the quarter ended August
31, 2003 to $418,021 compared to $448,959 at August 31, 2002. This majority of
this decrease is attributed to improved operating efficiencies.

CASH REQUIREMENTS AND NEED FOR ADDITIONAL FUNDS
-----------------------------------------------

To date, the Company has invested approximately US$10 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 stent coatings. 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.

                                       6
<PAGE>

In order to commercialize its HAp coating technologies, and to initiate
marketing efforts for its laser-cut stent, the Company will require
approximately US$5 million in the coming year. These funds could be provided
through any combination of the exercise of existing warrants and options and/or
through subsequent rounds 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.

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 OPERATION 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.

                                       7
<PAGE>

HISTORY OF LOSSES, ANTICIPATED FUTURE LOSSES.

Since inception, the Company has suffered recurring losses. 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.
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.

                                       8
<PAGE>

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.

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.

The Company's 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, and is in the process of
filing additional foreign patent applications, 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.

                                       9
<PAGE>

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.

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.

                                       10
<PAGE>

ITEM 3.  CONTROLS AND PROCEDURES

The registrant's Principal executive officers and principal financial officer,
based on their evaluation of the registrant's disclosure controls and procedures
(as defined in Rules 13a-14 ( c ) of the Securities Exchange Act of 1934) as of
August 31, 2003 have concluded that the registrants' disclosure controls and
procedures are adequate and effective to ensure that material information
relating to the registrants and their consolidated subsidiaries is recorded,
processed , summarized and reported within the time periods specified by the
SEC' s rules and forms, particularly during the period in which this quarterly
report has been prepared.

The registrants' principal executive officers and principal financial officer
have concluded that there were no significant changes in the registrants'
internal controls or in other factors that could significantly affect these
controls subsequent to August 31, 2003 the date of their most recent evaluation
of such controls, and that there was no significant deficiencies or material
weaknesses in the registrant's internal controls.

                           PART II: OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

As disclosed in the Company's prior filings, the Company is currently Defendant
in an action in the Supreme Court of British Columbia

Management believes that it will be successful in defending against the
Plaintiff's claims. However, if the Plaintiff is successful in his action and
receives the 3,192,399 shares he is seeking, the Company's issued and
outstanding shares will increase and current shareholders would feel an
immediate dilution in the value of their shares. If the Plaintiff is awarded
monetary damages in lieu of the shares, it would have a material adverse effect
on the Company's financial position.

ITEM 2.  CHANGES IN SECURITIES

On June 12, 2003, the Company issued 1,398,411 shares in completion of a Share
Exchange Agreement with shareholders of M-I Vascular Innovations, Inc. The
shares were issued under Section 4(2) of the Securities Act of 1933 as amended,
and/or Regulation S and bear a Rule 144 restrictive legend.

On June 26, 2003, the Company issued 657,592 units. The price of 572,592 units
was $0.20 per unit and the price of the remaining 85,000 units was $0.25 per
unit. Each unit consisted of one common share and one warrant to purchase a
share at a price of $0.75 until June 26, 2004. The shares were issued under
Section 4(2) of the Securities Act of 1933 as amended, and/or Regulation S and
bear a Rule 144 restrictive legend.

                                       11
<PAGE>

On August 15, 2003, the Company issued 40,000 units. The price of each unit was
$0.30 and consisted of one common share and one warrant to purchase a share at a
price of $0.75 until August 15, 2004. The shares were issued under Section 4(2)
of the Securities Act of 1933 as amended, and/or Regulation S and bear a Rule
144 restrictive legend.

On August 28, 2003, the Company issued 50,000 units. The price of each unit was
$0.20 and consisted of one common share and one warrant to purchase a share at a
price of $0.75 until August 28, 2004. The shares were issued under Section 4(2)
of the Securities Act of 1933 as amended, and/or Regulation S and bear a Rule
144 restrictive legend.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

None

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None.

ITEM 5.  OTHER INFORMATION

None.

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
         99.3     Press Release: MIVT Co-Lists on Berlin Stock Exchange, dated
                  June 5, 2003
         99.4     Press Release: MIV Called to Trade on Berlin Stock Exchange,
                  dated June 10, 2003

---------------------------
         (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,
         2003.

         The Company filed a current report on Form 8-K on Item 5, Other Events
         and Regulation FD Disclosure on June 20, 2003 reporting on the current
         situation with the Company's legal proceedings and announcing the
         completion of the Share Exchange Agreement with M-I Vascular
         Innovations, Inc.

                                       12
<PAGE>

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 8, 2003                               MIV Therapeutics, Inc.


                                                     /S/ Alan Lindsay
                                                     ----------------
                                                     Alan Lindsay
                                                     President


                                                     /S/ Patrick McGowan
                                                     -------------------
                                                     Patrick McGowan
                                                     CFO


                                       13
<PAGE>

CERTIFICATIONS

I, Alan Lindsay, certify that:

         1.       I have reviewed this quarterly report on Form 10-QSB of MIV
                  Therapeutics, Inc.;

         2.       Based on my knowledge, this quartlery report does not contain
                  any untrue statement of a material fact or omit to state a
                  material fact necessary to make the statements made, in light
                  of the circumstances under which such statements were made,
                  not misleading with respect to the period covered by this
                  annual report;

         3.       Based on my knowledge, the financial statements, and other
                  financial information included in this quarterly report,
                  fairly present in all material respects the financial
                  condition, results of operations and cash flows of the
                  registrant as of, and for, the periods presented in this
                  annual report ;

         4.       The registrant's other certifying officers and I are
                  responsible for establishing and maintaining disclosure
                  controls and procedures (as defined in Exchange Act Rules
                  13a-14 and 15d-14 ) for the registrant and have :

                  (a)      Designed such disclosure controls and procedures to
                           ensure that material information relating to the
                           registrant, including its consolidated subsidiaries,
                           is made known to us by others within those entities,
                           particularly during the period in which this
                           quarterly report is being prepared ;
                  (b)      Evaluated the effectiveness of the registrant's
                           disclosure controls and procedures as of a date
                           within 90 days prior to the filing date of this
                           annual report (the "Evaluation date"); and
                  (c)      Presented in this quarterly report our conclusions
                           about the effectiveness of the disclosure controls
                           and procedures based on our evaluation as of the
                           Evaluation date ;

         5.       The registrant's other certifying officers and I have
                  disclosed, based on our most recent evaluation, to the
                  registrant's auditors and the registrant's board of directors:

                  (a)      All significant deficiencies in the design or
                           operation of internal controls which could adversely
                           affect the registrant's ability to record, process,
                           summarize and report financial data and have
                           identified for the registrant's auditors any material
                           weaknesses in internal controls, and
                  (b)      Any fraud, whether or not material , that involves
                           management or other employees who have a significant
                           role in the registrant's internal controls ; and

         6.       The registrant's other certifying officers and I have
                  indicated in this quarterly report whether there were
                  significant changes in internal controls or in other factors
                  that could significantly affect internal controls subsequent
                  to the date of our most recent evaluation including any
                  corrective actions with regard to significant deficiencies and
                  material weaknesses.

Date : October 8, 2003


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


<PAGE>


I, Patrick McGowan, certify that:

         7.       I have reviewed this quarterly report on Form 10-QSB of MIV
                  Therapeutics, Inc.;

         8.       Based on my knowledge, this quarterly report does not contain
                  any untrue statement of a material fact or omit to state a
                  material fact necessary to make the statements made, in light
                  of the circumstances under which such statements were made,
                  not misleading with respect to the period covered by this
                  annual report;

         9.       Based on my knowledge, the financial statements, and other
                  financial information included in this quarterly report,
                  fairly present in all material respects the financial
                  condition, results of operations and cash flows of the
                  registrant as of, and for, the periods presented in this
                  annual report ;

         10.      The registrant's other certifying officers and I are
                  responsible for establishing and maintaining disclosure
                  controls and procedures (as defined in Exchange Act Rules
                  13a-14 and 15d-14 ) for the registrant and have :

         (a)      Designed such disclosure controls and procedures to ensure
                  that material information relating to the registrant,
                  including its consolidated subsidiaries, is made known to us
                  by others within those entities, particularly during the
                  period in which this quarterly report is being prepared ;

         (b)      Evaluated the effectiveness of the registrant's disclosure
                  controls and procedures as of a date within 90 days prior to
                  the filing date of this quarterly report (the "Evaluation
                  date"); and

         (c)      Presented in this annual report our conclusions about the
                  effectiveness of the disclosure controls and procedures based
                  on our evaluation as of the Evaluation date ;

         11.      The registrant's other certifying officers and I have
                  disclosed, based on our most recent evaluation, to the
                  registrant's auditors and the registrant's board of directors:

                  (a)      All significant deficiencies in the design or
                           operation of internal controls which could adversely
                           affect the registrant's ability to record, process,
                           summarize and report financial data and have
                           identified for the registrant's auditors any material
                           weaknesses in internal controls, and
                  (b)      Any fraud, whether or not material , that involves
                           management or other employees who have a significant
                           role in the registrant's internal controls ; and

         12.      The registrant's other certifying officers and I have
                  indicated in this quarterly report whether there were
                  significant changes in internal controls or in other factors
                  that could significantly affect internal controls subsequent
                  to the date of our most recent evaluation including any
                  corrective actions with regard to significant deficiencies and
                  material weaknesses.

Date : October 8, 2003


/s/ Patrick McGowan
-------------------
Patrick McGowan
CFO