<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: November 30, 2002

                       Commission file number: 000-32249

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

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

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


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

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

Yes      X                 No
    --------------            --------------

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

 Common Stock, $0.001 par value                       19,807,435
             (Class)                     (Outstanding as of November 30, 2002)

<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-5-F-7

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

Part II  OTHER INFORMATION

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

Item 6   Exhibits and Reports on Form 8-K................................11

Signatures...............................................................12

                                       2
<PAGE>


PART I:  FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS (UNAUDITED)

<TABLE>

                                            MIV THERAPEUTICS, INC.
                                         (A DEVELOPMENT STAGE COMPANY)

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

-----------------------------------------------------------------------------------------------------------------
                                                                                 NOVEMBER 30           MAY 31
                                                                                     2002               2002
-----------------------------------------------------------------------------------------------------------------
                                                                                 (UNAUDITED)          (Audited)
<S>                                                                               <C>               <C>
ASSETS

CURRENT
     Cash and cash equivalents                                                    $     8,225       $     4,536
     Prepaid expenses and deposits                                                     25,180            21,933
     Other receivable                                                                 163,405           163,883
                                                                                  ------------------------------
                                                                                      196,810           190,352
INVESTMENT (Note 7(b))                                                                 50,000            50,000
LICENSE (Note 4)                                                                           --           150,000
PLANT AND EQUIPMENT                                                                   387,707           428,098
                                                                                  ------------------------------

                                                                                  $   634,517       $   818,450
================================================================================================================

LIABILITIES

CURRENT
     Accounts payable and accrued liabilities                                     $   771,636       $   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:
         19,807,435 common shares at November 30, 2002 and 16,665,500
         common shares at May 31, 2002                                                 19,744            16,665

OTHER CAPITAL ACCOUNTS                                                              9,726,054         8,129,053

DEFICIT ACCUMULATED DURING THE DEVELOPMENT STAGE                                   (9,939,996)       (8,136,883)

ACCUMULATED OTHER COMPREHENSIVE INCOME                                                 57,079           (26,915)
                                                                                  ------------------------------
                                                                                     (137,119)          (18,080)
                                                                                  ------------------------------

                                                                                  $   634,517       $   818,450
================================================================================================================
</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                    SIX MONTHS ENDED                1999 TO
                                                  NOVEMBER 30                         NOVEMBER 30                 NOVEMBER 30
                                          2002                2001             2002                2001               2002
------------------------------------------------------------------------------------------------------------------------------
<S>                                  <C>                <C>                <C>                <C>                <C>
EXPENSES

     General and administrative      $    397,123       $    509,119       $    659,748       $    930,621       $  4,272,925

     Stock based compensation*            469,425            629,578            666,154          3,307,446          4,002,017

     Research and development             175,798            113,442            235,716            395,977          2,632,297
     Depreciation                          37,585             36,307             75,466             73,916            355,122
     Interest                                 552              1,043             16,029              1,043            869,233
     Intangible asset
       impairment
       (Note 4)                                --                 --            150,000                 --            150,000
                                     -----------------------------------------------------------------------------------------

LOSS FROM OPERATIONS                    1,080,483          1,289,489          1,803,113          4,709,003         12,281,594

INTEREST INCOME                                --               (997)                --             (3,638)           (49,767)
                                     -----------------------------------------------------------------------------------------

LOSS FOR THE PERIOD                  $  1,080,483       $  1,288,492       $  1,803,113       $  4,705,365       $ 12,231,827
==============================================================================================================================

BASIC AND FULLY DILUTED LOSS
  PER SHARE                          $      (0.06)      $      (0.08)      $      (0.10)      $      (0.29)
===========================================================================================================


WEIGHTED AVERAGE NUMBER OF
  COMMON SHARES OUTSTANDING            18,256,119         16,665,500         17,463,267         16,100,318
===========================================================================================================

COMPREHENSIVE LOSS

     Net loss for the period         $  1,080,483       $  1,288,492       $  1,803,113       $  4,705,365

     Foreign currency
       translation adjustment              (9,601)           (64,372)           (83,995)           (67,936)
                                     ----------------------------------------------------------------------

TOTAL COMPREHENSIVE LOSS             $  1,070,882       $  1,224,120       $  1,719,118       $  4,637,429
===========================================================================================================
</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                  SIX MONTHS ENDED           1999 TO
                                                             NOVEMBER 30                        NOVEMBER 30            NOVEMBER 30
                                                        2002             2001             2002              2001           2002
------------------------------------------------------------------------------------------------------------------------------------
<S>                                                <C>              <C>              <C>              <C>              <C>
CASH FLOWS FROM OPERATING ACTIVITIES
     Loss for the period                           $ (1,080,483)    $ (1,288,492)    $ (1,803,113)    $ (4,705,365)    $(12,219,327)

     Adjustments to reconcile loss to
       net cash used in operating
       activities
         Stock based compensation                       469,425          629,578          666,154        3,307,446        4,680,869
         Interest expense on related
           party loan                                        --               --               --               --          850,000
         Depreciation                                    37,585           36,307           75,466           73,916          355,122
         Leasehold improvements
           written down                                      --               --               --               --           13,300
         Intangible asset impairment                         --               --          150,000               --          150,000

     Changes in non-cash working capital items:
         Other receivable                                 2,078            3,667              477           (3,252)        (163,562)
         Prepaid expenses and deposits                   (3,681)           4,116           (3,247)           9,850          (25,860)
         Accounts payable and accrued
           liabilities                                  225,217           76,387          291,526              160        1,041,839
                                                   ---------------------------------------------------------------------------------
                                                       (349,859)        (538,437)        (622,737)      (1,317,245)      (5,330,119)
                                                   ---------------------------------------------------------------------------------

CASH FLOWS FROM FINANCING ACTIVITIES
     Issuance of common stock and
       warrants for cash, less share
       issuance costs                                        --               --               --           52,500        3,656,143
     Related party loan                                      --               --               --               --          850,000
     Cash acquired in reverse
       acquisition                                           --               --               --               --           13,824
     Common stock redemption                                 --               --               --               --         (120,000)
     Subscriptions received                              84,995               --          577,506               --        1,891,072
                                                   ---------------------------------------------------------------------------------
                                                         84,995               --          577,506           52,500        6,303,539
                                                   ---------------------------------------------------------------------------------
</TABLE>

                                                           F-3

<PAGE>
<TABLE>

                                                 MIV THERAPEUTICS, INC.
                                              (A DEVELOPMENT STAGE COMPANY)

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



--------------------------------------------------------------------------------------------------------------------------------
                                                                                                                  PERIOD FROM
                                                                                                                 INCORPORATION
                                                                                                                   JANUARY 20
                                                         THREE MONTHS ENDED               SIX MONTHS ENDED           1999 TO
                                                             NOVEMBER 30                     NOVEMBER 30           NOVEMBER 30
                                                        2002            2001            2002           2001           2002
--------------------------------------------------------------------------------------------------------------------------------
<S>                                                <C>             <C>             <C>             <C>             <C>
CASH FLOWS FROM INVESTING ACTIVITIES
     Investments                                   $        --     $        --     $        --     $        --     $   (50,000)
     Acquisition of license                                 --              --              --              --        (150,000)

     Purchases of plant and equipment                  (35,075)         (4,021)        (35,075)        (14,375)       (761,047)
                                                   ----------------------------------------------------------------------------
                                                       (35,075)         (4,021)        (35,075)        (14,375)       (961,047)
                                                   ----------------------------------------------------------------------------


FOREIGN EXCHANGE EFFECT ON CASH                          9,601          64,372          83,995          67,936          (4,148)
                                                   ----------------------------------------------------------------------------

NET (DECREASE) INCREASE IN CASH AND
  CASH EQUIVALENTS                                    (290,338)       (478,086)          3,689      (1,211,184)          8,225

CASH AND CASH EQUIVALENTS, BEGINNING
  OF PERIOD                                            298,563         509,234           4,536       1,242,332              --
                                                   ----------------------------------------------------------------------------

CASH AND CASH EQUIVALENTS, END OF
  PERIOD                                           $     8,225     $    31,148     $     8,225     $    31,148     $     8,225
==============================================================================================================================

</TABLE>

SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING AND INVESTING ACTIVITIES:

During the period ended November 30, 2002, the Company issued:

a)       957,606 common shares for settlement of accounts payable and accrued
         liabilities totalling $356,421;

b)       79,641 common shares at a value of $27,078 for compensation expense
         pursuant to the "2002 Non-Qualified Stock Compensation Plan";

c)       2,042,688 units at a value of $815,090 for subscriptions received, of
         which $62,495 was received during the quarter ended November 30, 2002.

                                       F-4

<PAGE>


                             MIV THERAPEUTICS, INC.
                          (A DEVELOPMENT STAGE COMPANY)

                    NOTE TO CONSOLIDATED FINANCIAL STATEMENTS

                                NOVEMBER 30, 2002
                                   (UNAUDITED)
                            (STATED IN U.S. DOLLARS)



1.   BASIS OF PRESENTATION

     The unaudited consolidated financial statements as of November 30, 2002
     included herein have been prepared without audit pursuant to the rules and
     regulations of the Securities and Exchange Commission. Certain information
     and footnote disclosures normally included in financial statements prepared
     in accordance with United States generally accepted accounting principles
     have been condensed or omitted pursuant to such rules and regulations. In
     the opinion of management, all adjustments (consisting of normal recurring
     accruals) considered necessary for a fair presentation have been included.
     It is suggested that these consolidated financial statements be read in
     conjunction with the May 31, 2002 audited consolidated financial statements
     and notes thereto.


2.   STOCK BASED COMPENSATION

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


3.   RELATED PARTY TRANSACTIONS

     a)   For the three month period ended November 30, 2002, the Company paid
          $51,024 (2001 - $112,469) in management fees to directors of the
          Company.

     b)   During the period ended November 30, 2002, the Company issued 400,000
          common shares at a value of $136,000 to the Chief Executive Officer of
          the Company for settlement of salary and expenses paid on behalf of
          the Company. At November 30, 2002, $63,514 (2001 - $55,000) is payable
          to a company controlled by the Chief Executive Officer of the Company
          for accrued salary and expenses paid on behalf of the Company.

     c)   During the period ended November 30, 2002, the Company issued 52,941
          common shares at a value of $18,000 to a director of the Company for
          compensation expense under the "2002 Non-Qualified Stock Compensation
          Plan".


                                       F-5


<PAGE>


                             MIV THERAPEUTICS, INC.
                          (A DEVELOPMENT STAGE COMPANY)

                    NOTE TO CONSOLIDATED FINANCIAL STATEMENTS

                                NOVEMBER 30, 2002
                                   (UNAUDITED)
                            (STATED IN U.S. DOLLARS)



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.

     On June 1, 2002, the Company recognized 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.   COMMITMENT

     During the quarter, 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.


7.   SUBSEQUENT EVENTS

     a)  On December 17, 2002, the Company issued 593,750 units at a value of
         $250,000. Each unit consists of one common share and one
         non-transferable share purchase warrant. Each warrant entitles the
         holder to purchase one additional common share at an exercise price of
         $1.00 per share up to December 17, 2003.

                                       F-6

<PAGE>


                             MIV THERAPEUTICS, INC.
                          (A DEVELOPMENT STAGE COMPANY)

                    NOTE TO CONSOLIDATED FINANCIAL STATEMENTS

                                NOVEMBER 30, 2002
                                   (UNAUDITED)
                            (STATED IN U.S. DOLLARS)



7.   SUBSEQUENT EVENTS (Continued)

     b)  On December 2, 2002, the Company entered into a loan agreement for
         $500,000, repayable on December 30, 2005, bearing interest per annum
         equal to one hundred basis points above the one month London Interbank
         Offered Rate. In addition, the Company paid finder's fees of $59,000.
         The loan is secured by the investment of 1,000,000 Class A common
         shares of Endovasc Ltd. Inc.

     c)  On December 24, 2002, the Company issued a demand promissory note in
         the amount of $99,560 (of which $63,514 was outstanding at November 30,
         2002) to a company controlled by the C.E.O. of the Company. In
         addition, the Company pledged all assets of the Company for security.


                                       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 coated stent - in late-stage development
     3.   Drug-eluting stent - in preclinical development
     4.   Biodegradable stent - in preclinical development
     5.   ANGIOGENIX(TM)- (as a therapeutic coating for stents) is currently
          being formulated for phase 3 trials by a major FDA cGMP contractor

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

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

DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

The Company has incurred annual operating losses since its inception in January
1999 related primarily to the research and clinical development of its
technologies and products, and general administration costs. During the quarter
ended November 30, 2002, the Company posted a loss of $1.1 million, compared to
a loss of $1.29 million for the three months ended November 30, 2001.

The working capital deficit increased from a deficit of $442,544 (November,
2001) to a deficit of $574,826 (November, 2002) the increase in the working
capital deficit is due primarily to an increase in accounts payable and accrued
liabilities.

The Company's main focus during the three months ending November 30, 2002 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 tim,e 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.

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

General and administrative expenses decreased to $397,123 during the quarter
ended November 30, 2002, compared to $509,119 for the quarter ended November 30,
2001. The decrease in 2002 is mainly due to improved operating efficiencies
within the company.

                                       4
<PAGE>

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

Research and developmental costs increased 35% during the quarter ended November
30, 2002 to $175,798 compared to $113,442 for the quarter ended November 30,
2001. The increase in 2002 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 increased by $1,278 during the quarter ended November 30,
2002 to $37,585 compared to $36,307 for the quarter ended November 30, 2001. The
change in 2002 was mainly due to the added depreciation expense associated with
the addition of laboratory equipment for the R&D subsidiary.

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

Since inception, the Company has financed its operations from private financing,
the exercise of warrants and interest income. The company has suffered recurring
losses from operations and has a working capital deficiency of $574,836 (current
assets less current liabilities), which raises substantial doubt about its
ability to continue as a going concern.

Stock based compensation decreased by $160,153 to $469,425 for the quarter ended
November 30, 2002, from $629,578 during the same period in 2001.

Financing
---------

The Company's capital requirements have been and will continue to be
significant. As of November 30, 2002, the Company had a working capital
deficiency of $574,836.

Cash flow from financing activities increased to $84,995 for the quarter
compared to $0 for the same period in 2001.

The subscriptions received were for a private placement of 979,038 Units for
$0.40 each, consisting of one common share and one non-transferable share
purchase warrant to purchase an additional share for $1.00 until September 27,
2003. An aggregate of $62,495 was received for the Units during the quarter.

Warrants
--------

As at November 30, 2002, the Company has outstanding warrants to purchase
5,736,021 common shares. Of these warrants, 3,693,333 have an exercise price of
$1.50 per share, 2,560,000 of which expire on April 30, 2003, and 1,133,333
expire on June 14, 2003. The remaining 1,442,688 warrants have an exercise price
of $1.00 per share, 1,063,000 of which expire on August 27, 2003 and the
remaining 979,038 expire on September 27, 2003.


                                       5
<PAGE>

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


                                                              Number of
Quarter ended November 30, 2002                               underlying shares
-------------------------------                               -----------------

Warrants outstanding - August 31, 2002                        4,756,983
Warrants issued...                                              979,038
Warrants expired
Balance, end of period - November 30, 2002                    5,736,021

(1) During the quarter, the Company accepted several private placement
subscription agreements for an aggregate of 979,038 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 September 27, 2003.

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 November 30, 2002, the Company had 3,965,000 options outstanding. During the
three months ended November 30, 2002, the Company did not grant or cancel any
options.

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

                                                Number of      Weighted Average
Quarter ended November 30, 2002                 Options        Exercise Price
-------------------------------                 ---------      -----------------

Options outstanding - August 31, 2002           3,965,000               $0.81
Options issued                                          0
Options cancelled.                                      0
Balance, end of period - November 30, 2002      3,965,000               $0.81

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

At November 30, 2002, the Company had cash and cash equivalents of $8,225
compared to $31,148 at November 30, 2001. The decrease in the Company's cash
position is due primarily to the purchase of plant and equipment and increases
in accounts payable and accrued liabilities. The working capital deficiency
increased from a deficiency of $442,544 at November 30, 2001 to a deficiency of
$574,836 as at November 30, 2002.

                                       6
<PAGE>

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

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

Accounts payable and accrued liabilities increased 32 % in the quarter ended
November 30, 2002 to $771,636 compared to $523,799 at November 30, 2001. This
majority of this increase is a attributed to $200,000 paid to Endovasc, Inc. in
relation to the joint venture license agreement with the Company and $35,000 for
the purchase of scientific equipment.

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 2003. 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.

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<PAGE>

LIMITED OPERATING HISTORY.

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

HISTORY OF LOSSES, ANTICIPATED FUTURE LOSSES.

Since inception, the Company has suffered recurring losses, totaling $12,281,594
as of November 30, 2002. The Company has funded its operations through the
issuance of common stock, and through related party loans since inception, in
order to meet its strategic objectives. The Company anticipates that losses will
continue until such time, if ever, as the Company is able to generate sufficient
revenues to support its operations. The Company's ability to generate revenue
primarily depends on its success in completing development and obtaining
regulatory approvals for the commercial sale of the products under development.
There can be no assurance that any such events will occur, that the Company will
attain revenues from commercialization of its products, or that the Company will
ever achieve profitable operations.

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.

                                       8
<PAGE>

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 MANAGEMENT AND RECRUITING.

The Company currently has 9 full time employees including three full-time
officers and directors. The Company has entered into consulting agreements with
three individuals two of whom are also 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.

                                       9
<PAGE>

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.

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 laser-cut Stent, which would have a material adverse effect on the
Company's performance.

                                       10
<PAGE>

PENNY STOCK RULE.

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

PART II:  OTHER INFORMATION
---------------------------

ITEM 1.  LEGAL PROCEEDINGS

On November 27, 2002, the Company filed a current report on Form 8-K under Item
5, Other Events and Regulation FD Disclosure, updating the Company's current
legal proceedings. Subsequent to November 30, 2002, the Company filed a
Statement of Defence in the Supreme Court of British Columbia as specified in
Rule 21(5) of the British Columbia Supreme Court Rules.

ITEM 2.  CHANGES IN SECURITIES

On September 27, 2003, the Company issued 979,038 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 September 27, 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 October 29, 2002, the Company issued 322,312 common shares to consultants and
advisers. The shares were registered under Form S-8, as filed on October 28,
2002.

On October 31, 2002, the Company issued 714,935 common shares to consultants,
advisers, and employees. The shares were registered under Form S-8, as filed on
October 28, 2002.


ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

(a)      Exhibits

                                       11
<PAGE>

         3.1      Articles of Incorporation of the Registrant (1)
         3.2      By-laws of the Registrant (1)
         10.1     Consulting Agreement between the Company and Craig Scott and
                  Karen Ard dated November 2, 2002
         10.2     Shareholders and Security Holders Agreement between the
                  Company and Endovasc, Inc. and Stentgenix, Inc. dated November
                  20, 2002
         99.1     Section 906 Certification of CEO
         99.2     Section 906 Certification of CFO

----------------

(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 November 30,
         2002.

         On November 27, 2002, the Company filed a current report on Form 8-K
         under Item 5, Other Events and Regulation FD Disclosure.


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:  January 14, 2002                     MIV Therapeutics, Inc.

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


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