<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: February 28, 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                       20,596,185
                   (Class)                  (Outstanding as of March 6, 2003)

                                       1
<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 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>

---------------------------------------------------------------------------------------------------
                                                                  FEBRUARY 28         MAY 31
                                                                      2003             2002
---------------------------------------------------------------------------------------------------
                                                                  (UNAUDITED)        (Audited)
<S>                                                               <C>                <C>
ASSETS

CURRENT
     Cash and cash equivalents                                    $     79,480       $      4,536
     Prepaid expenses and deposits                                      60,641             21,933
     Other receivable                                                  167,216            163,883
                                                                  --------------------------------
                                                                       307,337            190,352
INVESTMENT (Note 5)                                                     50,000             50,000
LICENSE (Note 4)                                                            --            150,000
PLANT AND EQUIPMENT                                                    348,804            428,098
                                                                  --------------------------------

                                                                  $    706,141       $    818,450
==================================================================================================
LIABILITIES

CURRENT
     Accounts payable and accrued liabilities                     $    449,867       $    836,530

LOAN PAYABLE (Note 6)                                                  500,000                 --
                                                                  --------------------------------
                                                                       949,867            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:
         20,596,185 common shares at February 28, 2003
           and 16,665,500 common shares at May 31, 2002                 20,533             16,665

OTHER CAPITAL ACCOUNTS                                              10,271,931          8,129,053

DEFICIT ACCUMULATED DURING THE DEVELOPMENT STAGE                   (10,505,408)        (8,136,883)

ACCUMULATED OTHER COMPREHENSIVE LOSS                                   (30,782)           (26,915)
                                                                  --------------------------------
                                                                      (243,726)           (18,080)
                                                                  --------------------------------

                                                                  $    706,141       $    818,450
==================================================================================================
</TABLE>

                                                 F-1
<PAGE>
<TABLE>

                                                       MIV THERAPEUTICS INC.
                                                   (A DEVELOPMENT STAGE COMPANY)

                                         CONSOLIDATED STATEMENTS OF OPERATIONS AND DEFICIT
                                                            (UNAUDITED)
                                                     (STATED IN U.S. DOLLARS)
<CAPTION>

-------------------------------------------------------------------------------------------------------------------------------
                                                                                                                PERIOD FROM
                                                                                                               INCORPORATION
                                                                                                                 JANUARY 20
                                         THREE MONTHS ENDED                      NINE MONTHS ENDED               1999 TO
                                             FEBRUARY 28                            FEBRUARY 28                 FEBRUARY 28
                                      2003                2002                2003               2002               2003
-------------------------------------------------------------------------------------------------------------------------------
<S>                                <C>                <C>                <C>                <C>                <C>
EXPENSES
     General and
       administrative              $    175,716       $    260,459       $    835,464       $  1,191,080       $  4,448,641
     Stock based
       compensation*                    234,171             73,500            900,325          3,305,737          4,236,188
     Research and development           113,029             60,486            348,745            456,463          2,745,326
     Depreciation                        38,901             37,137            114,367            111,053            394,023
     Interest expense                     3,595                583             19,624              1,626            872,828
     Intangible assets
       impairment
       (Note 4)                              --                 --            150,000                 --            150,000
                                   --------------------------------------------------------------------------------------------

LOSS FROM OPERATIONS                    565,412            432,165          2,368,525          5,065,959         12,847,006

INTEREST INCOME                              --                 --                 --             (3,638)           (49,767)
                                   --------------------------------------------------------------------------------------------

LOSS FOR THE PERIOD                $    565,412       $    432,165       $  2,368,525       $  5,062,321       $ 12,797,239
===============================================================================================================================

BASIC AND FULLY DILUTED LOSS
  PER SHARE                        $      (0.03)      $      (0.03)      $      (0.12)      $      (0.31)
===========================================================================================================

WEIGHTED AVERAGE NUMBER OF
  COMMON SHARES OUTSTANDING          20,329,143         16,665,500         19,265,059         16,286,642
===========================================================================================================

COMPREHENSIVE LOSS

     Net loss for the period       $    565,412       $    432,165       $  2,368,525       $  5,062,321

     Foreign currency
       translation adjustment            87,861            (46,935)             3,866           (114,871)
                                   ------------------------------------------------------------------------


TOTAL COMPREHENSIVE LOSS           $    653,273       $    385,230       $  2,372,391       $  4,947,450
===========================================================================================================
</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 STATEMENTS OF CASH FLOWS
                                                            (UNAUDITED)
                                                     (STATED IN U.S. DOLLARS)
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                    PERIOD FROM
                                                                                                                   INCORPORATION
                                                                                                                     JANUARY 20
                                                                                   NINE MONTHS ENDED                  1999 TO
                                                                                      FEBRUARY 28                   FEBRUARY 28
                                                                                2003                2002                2003
------------------------------------------------------------------------------------------------------------------------------------
<S>                                                                      <C>                <C>                <C>
CASH FLOWS FROM OPERATING ACTIVITIES
     Loss for the period                                                 $     (2,368,525)  $     (5,062,321)  $    (12,797,239)
     Adjustments to reconcile loss to net cash used in
       operating activities
         Stock based compensation                                                 900,325          3,305,737          4,915,040
         Interest expense on related party loan                                    -                  -                 850,000
         Depreciation                                                             114,367            111,053            394,023
         Leasehold improvements written down                                       -                  -                  13,300
         Intangible assets impairment                                             150,000             -                 150,000
     Changes in non-cash working capital items:
         Other receivable                                                          (3,333)            (2,024)          (167,372)
         Prepaid expenses and deposits                                             (2,900)            16,087            (25,506)
         Accounts payable and accrued liabilities                                  11,450            228,214            761,763
                                                                         --------------------------------------------------------
                                                                               (1,198,616)        (1,403,254)        (5,905,991)
                                                                         --------------------------------------------------------

CASH FLOWS FROM FINANCING ACTIVITIES
     Issuance of common stock and warrants for cash, less share
       issuance costs                                                             224,994             52,500          3,881,137
     Subscription received                                                        587,506             -               1,913,572
     Related party loan                                                            -                  -                 850,000
     Loan payable                                                                 500,000             -                 500,000
     Cash acquired in reverse acquisition                                          -                  -                  13,824
     Common stock redemption                                                       -                  -                (120,000)
                                                                         --------------------------------------------------------
                                                                                1,312,500             52,500          7,038,533
                                                                         --------------------------------------------------------

CASH FLOWS FROM INVESTING ACTIVITIES
     Investment                                                                    -                  -                 (50,000)
     Acquisition of license                                                        -                  -                (150,000)
     Purchases of plant and equipment                                             (35,074)           (14,375)          (761,052)
                                                                         --------------------------------------------------------
                                                                                  (35,074)           (14,375)          (961,052)
                                                                         --------------------------------------------------------

FOREIGN EXCHANGE EFFECT ON CASH                                                    (3,866)           114,871            (92,010)
                                                                         --------------------------------------------------------

NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS                               74,944         (1,250,258)            79,480

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

CASH AND CASH EQUIVALENTS, END OF PERIOD                                 $         79,480   $         (7,926)  $         79,480
=================================================================================================================================
</TABLE>

SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING AND INVESTING ACTIVITIES:
During the period ended February 28, 2003, the Company issued:
a) 170,000 common shares for settlement of accounts payable and accrued
liabilities totalling $77,500; b) 56,250 units at a value of $22,500 for
subscriptions received during the quarter ended February 28, 2003.

                                       F-3
<PAGE>

                             MIV THERAPEUTICS, INC.
                          (A DEVELOPMENT STAGE COMPANY)

                    NOTE TO CONSOLIDATED FINANCIAL STATEMENTS

                                FEBRUARY 28, 2003
                                   (UNAUDITED)
                            (STATED IN U.S. DOLLARS)



1.   BASIS OF PRESENTATION

     The unaudited consolidated financial statements as of February 28, 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, 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

     a)   For the three month period ended February 28, 2003, the Company paid
          $50,654 (2002 - $141,469) in management fees to directors of the
          Company.

     b)   The Chief Executive Officer of the Company has provided a secured line
          of credit up to $99,000 for working capital purposes. At February 28,
          2003, $80,788 (2002 - $85,063) is outstanding in respect of the loan.

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.

     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.

                                       F-4
<PAGE>

                             MIV THERAPEUTICS, INC.
                          (A DEVELOPMENT STAGE COMPANY)

                    NOTE TO CONSOLIDATED FINANCIAL STATEMENTS

                                FEBRUARY 28, 2003
                                   (UNAUDITED)
                            (STATED IN U.S. DOLLARS)



4.   CHANGE IN ACCOUNTING POLICY (Continued)

     On June 1, 2002, the Company recognized an impairment loss of $150,000.


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 no 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.


6.   LOAN PAYABLE

     Secured by the investment of 1,000,000 Class A common shares of Endovasc
     Ltd. Inc. Repayable on December 30, 2005, bearing interest per annum equal
     to one hundred basis point above the one month London Interbank Offered
     Rate.


7.   SUBSEQUENT EVENTS

     a)   On March 10, 2003, the Company issued 25,000 common shares at a value
          of $9,000 to a consultant and a director for services rendered to the
          Company.

     b)   On March 19, 2003, the Company issued 750,000 common shares at a value
          of $217,500 pursuant to the license agreements referred to in Note
          8(b).

     c)   On March 19, 2003, the Company issued 150,000 common shares to a legal
          firm at a value of $40,500 for services to be rendered.

     d)   On March 27, 2003, the Company issued 21,971 common shares to a
          consultant for total consideration of $5,884 for services rendered to
          the Company.

     e)   On April 4, 2003, the Company issued 100,000 common shares to a legal
          firm at a value of $22,000 for services rendered.


                                       F-5
<PAGE>


                             MIV THERAPEUTICS, INC.
                          (A DEVELOPMENT STAGE COMPANY)

                    NOTE TO CONSOLIDATED FINANCIAL STATEMENTS

                                FEBRUARY 28, 2003
                                   (UNAUDITED)
                            (STATED IN U.S. DOLLARS)


7.   SUBSEQUENT EVENTS (Continued)

     f)   The Company, by a take-over bid circular dated March 28, 2003, has
          proposed to the minority shareholder of M-I Vascular Innovations Inc.
          ("MIVI") to exchange up to 4,590,810 shares (representing
          approximately 28% of MIVI) of MIVI on a one-for-one basis for shares
          of the Company. The bid circular provides for the exchange of shares
          until the expiry date of the offer on May 31, 2003.

8.   COMMITMENTS AND CONTINGENCIES

     a)   During the nine months ended February 28, 2003, the Company entered
          into an agreement with Endovasc Ltd. Inc. to form an incorporated
          joint venture. The Company's 50% investment in the joint venture will
          consist of 2,500,000 Class A shares of the joint venture for cash
          consideration of $2,500,000 payable over a three year period. A
          minimum of $300,000 is payable in the first year.

          Should the Company fail to make the required payments, one Class A
          share will be returned to treasury of the joint venture company for
          each dollar not paid.

     b)   License Agreements

          On February 1, 2003, the Company entered into two license agreements
          with the University of British Columbia ("UBC") providing for, the
          Company, the right to use, develop and sublicense coating technology
          for stents.

          In consideration of granting the licenses, the Company will pay UBC a
          royalty of 2.5% of revenue and a royalty of either 10% or 15% of
          sublicense revenue depending upon the sublicensed technology. In
          addition, various minimum annual royalties, maintenance fees and
          milestone payments over the period of development. The agreements also
          required the Company to issue 750,000 common shares to UBC as part of
          the consideration for the grant of the rights (see Note 7(b)).

     c)   Legal Proceedings

          On November 10, 2000, the Company's subsidiary, MIV Technologies, Inc.
          ("MIVI"), commenced legal actions in the British Columbia Supreme
          Court against one of its founders, John Ma (the "Defendant"), for
          breach of the Founders' Agreement, dated March 16, 1999, breach of the
          Consulting Agreement, dated March 16, 1999, and breach of the Share
          Purchase Agreement, dated September 9, 1999. MIVI sought to cancel
          2,967,000 of the Defendant's shares of common stock of MIVI and sought
          recovery for damages for failure of performance, the cost of replacing
          the Defendant's services, and costs incurred by MIVI.


                                       F-6

<PAGE>

                             MIV THERAPEUTICS, INC.
                          (A DEVELOPMENT STAGE COMPANY)

                    NOTE TO CONSOLIDATED FINANCIAL STATEMENTS

                                FEBRUARY 28, 2003
                                   (UNAUDITED)
                            (STATED IN U.S. DOLLARS)


8.   COMMITMENTS AND CONTINGENCIES (Continued)

     c)   Legal Proceedings (Continued)

          The Defendant counterclaimed against the Company and its subsidiary
          and against certain of the other founders alleging various matters
          including a conspiracy to oust the Defendant and deprive him of his
          shares of common stock. The Defendant sought up to 3,500,000 shares of
          MIVI common stock and conversion of all of his shares of MIVI common
          stock into shares of common stock of the Company, as well as recovery
          of anticipated future revenue of the consulting agreement and other
          general damages.

          On June 22, 2001, the Defendant, certain of the MIVI founders, MIVI,
          and the Company entered into a Letter Agreement for Settlement
          Agreement to settle these legal actions and to lift the temporary
          injunction against completion of the transactions contemplated under
          the MIV Share Exchange Agreement, which was received by the Defendant
          on May 17, 2001.

          The parties did not execute the settlement agreement and on November
          18, 2002, the Defendant filed a new lawsuit against the Company,
          filing a Writ of Summons and Statement of Claim against the Company,
          its subsidiary, and the Company's President, in the Supreme Court of
          British Columbia. The Statement of Claim alleges breach of contract
          and seeks the exchange of 3,192,399 shares of the Company for
          3,192,399 shares in the capital of the Company's subsidiary or
          alternatively, damages and costs.

          On November 22, 2002, the Company filed an Appearance with the Supreme
          Court of British Columbia, giving notice of its intent to defend
          against the action.

          On December 24, 2002, the Company filed a Statement of Defense
          alleging a breach of representations and warranties made by the
          Plaintiff.

          On April 7, 2003, the Court dismissed the Action against Alan Lindsay,
          the President of the Company.

          Management currently believes that it will be successful in defending
          against the claims. However, if the Company is unsuccessful in its
          defence, it could be required to issue 3,192,399 common shares to the
          claimant.

          The outcome of this contingency cannot be determined at this time.

                                       F-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 registration statement. 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.

PLAN OF OPERATION

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.       PROstent(TM)/Liprostin(TM) - (as a drug-eluting stent for local
         delivery of PGE-1) - in current development
5.       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>

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 established a joint venture with Endovasc to develop a
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 February 28, 2003, the Company posted a loss of $565,412, compared to a
loss of $432,165 for the three months ended February 28, 2002.

The working capital deficit decreased from a deficit of $315,036 (February,
2002) to a deficit of $142,530 (February, 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 February 28, 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. It is anticipated that this transition will have been
completed by the end of the first quarter.

                                       4
<PAGE>

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

General and administrative expenses decreased to $175,716 during the quarter
ended February 28, 2003, compared to $260,459 for the quarter ended February 28,
2002. The decrease in 2003 is mainly due to improved operating efficiencies
within the company.

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

Research and developmental costs increased during the quarter ended February 28,
2003 to $113,029 compared to $60,486 for the quarter ended February 28, 2002.
The increase in 2003 resulted primarily from the Company's increase of research
and development on its coating technology and other research and development
expenses relating to the Company's joint ventures.

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

Depreciation expenses remained fairly constant at $38,901 during the quarter
ended February 28, 2003 compared to $37,137 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 $142,530 (current
assets less current liabilities), which raises substantial doubt about its
ability to continue as a going concern.

Stock based compensation increased by $160,671 to $234,171 for the quarter ended
February 28, 2003, from $73,500 during the same period in 2002.

FINANCING
---------

The Company's capital requirements have been and will continue to be
significant. As of February 28, 2003, the Company had a working capital
deficiency of $142,530.

Cash flow from financing activities increased to $1,312,500 compared to $52,500
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 February 28, 2003, the Company has outstanding warrants to purchase
8,704,771 common shares. The following table summarized the exercise price and
expiry dates of these warrants:

                                       5
<PAGE>

NUMBER OF WARRANTS          EXERCISE PRICE            EXPIRY DATE
------------------          --------------            -----------

 2,560,000                  1.50                      April 30, 2003
 1,133,333                  1.50                      June 14, 2003
 1,063,650                  1.00                      August 27, 2003
   979,038                  1.00                      September 27, 2003
   500,000                  0.40                      August 23, 2007
   500,000                  0.40                      October 22, 2007
   500,000                  1.00                      October 28, 2012
   350,000                  0.30                      October 28, 2012
   100,000                  0.01                      No expiry
   593,750                  1.00                      December 13, 2003
    25,000                  1.00                      January 31, 2004
   200,000                  0.01                      No expiry
   100,000                  1.00                      December 1, 2005
   100,000                  2.00                      January 30, 2007

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

                                                              NUMBER OF
QUARTER ENDED FEBRUARY 28, 2003                               UNDERLYING SHARES
-------------------------------                               -----------------

Warrants outstanding - November 30, 2002                      7,686,021
Warrants issued                                               1,018,750 (1)
Warrants expired                                                      0
                                                             -----------
Balance, end of period - February 28, 2003                    8,704,771

         (1)      During the quarter, the Company accepted several private
                  placement subscription agreements for an aggregate of 618,750
                  units. The price of each unit was $0.40 and consisted of one
                  common share and one warrant to purchase a share at a price of
                  $1.00. 593,750 of the warrants expire on December 13, 2003,
                  the remaining 25,000 expire on January 31, 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 February 28, 2003, the Company had 3,375,000 options outstanding. During the
three months ended February 28, 2003, the Company did not grant any options and
590,000 options lapsed.

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

                                       6
<PAGE>

                                              NUMBER OF         WEIGHTED AVERAGE
QUARTER ENDED NOVEMBER 30, 2002               OPTIONS           EXERCISE PRICE
-------------------------------               ---------         ----------------

Options outstanding - August 31, 2002         3,965,000         $0.81
Options issued                                   50,000         $0.50
Options cancelled.                              590,000         $1.26
                                             ----------
Balance, end of period - November 30, 2002    3,425,000         $0.81

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

At February 28, 2003, the Company had cash and cash equivalents of $79,480
compared to a cash deficit position of $7,926 at February 28, 2002. The increase
in the Company's cash position is due primarily to the increase in financing
activities. The working capital deficiency decreased from a deficiency of
$315,036 at February 28, 2002 to a deficiency of $142,530 as at February 28,
2003.

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 40% in the quarter ended
February 28, 2003 to $449,867 compared to $751,853 at February 28, 2002. This
majority of this decrease is a attributed to improved operating efficiencies.

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 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.

                                       7
<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 Company's laser-cut 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.

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 the Company's business plan or manage any growth of the
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 $12,797,239
as of February 28, 2003. 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


                                       8
<PAGE>

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.

DEPENDENCE ON 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


                                       9
<PAGE>

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.

                                       10
<PAGE>

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
Company's laser-cut 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.

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
February 28, 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 February 28, 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

                                       11
<PAGE>

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 December 13, 2002, the Company issued 593,750 units. The price of each unit
was $0.40 and consisted of one common share and one warrant to purchase a share
at a price of $1.00 until December 13, 2003. 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 January 20, 2003, the Company issued 20,000 shares to an Officer of the
Company in payment of services pursuant to a Consulting Agreement. The shares
were registered under Form S-8, as filed on November 8, 2002.

On January 31, 2003, the Company issued 25,000 units. The price of each unit was
$0.40 and consisted of one common share and one warrant to purchase a share at a
price of $1.00 until January 31, 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 February 7, 2003, the Company issued 150,000 common shares to the Company's
attorney for services. The shares were registered under Form S-8, as filed on
November 8, 2002.

ITEM 5.  OTHER INFORMATION

On February 1, 2003, the Company signed two license agreements with the
University of British Columbia relating to Thin HAp Coating and Porous HAp
Coating for stents. The license agreements facilitate the transfer of the HAp
coating technology to the Company's research and manufacturing facility for
commercial development. The HAp coating was discovered at UBC and has been
co-developed by MIVT and UBC under a Collaborative Research Agreement.

On February 21, 2003, the Company signed a Letter of Agreement with American
Scene Corporation to purchase primary sponsorship of "Steve Crowley's American
Scene", a live radio Investment Showcase program.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

(a)      Exhibits

                                       12
<PAGE>

3.1      Articles of Incorporation of the Registrant (1)
3.2      By-laws of the Registrant (1)
10.3     License Agreement between the Company and the University of British
         Columbia relating to Thin HA Coating, dated effective February 1, 2003
10.4     License Agreement between the Company and the University of British
         Columbia relating to Porous HA Coating, dated effective February 1,
         2003
10.5     Letter of Agreement between the Company and American Scene Corporation
         dated February, 2003.
99.1     Section 906 Certification of CEO
99.2     Section 906 Certification of CFO
99.3     Press Release:  MIVT Announces NSERC Research Grant, dated
         February 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 February 28,
         2003.

         The Company did not file any current reports on Form 8-K during the
three months ending February 28, 2003.

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:  April 14, 2002                       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 annual 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 annual 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 annual 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 : April 14, 2003


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


                                       14
<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 annual 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 annual 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 annual 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 : April 14, 2003


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


                                       15