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SECURITIES AND EXCHANGE COMMISSION


Washington, D.C. 20549





Form 10-K/ A


Amendment No. 1


ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)


OF THE SECURITIES EXCHANGE ACT OF 1934


For the fiscal year ended December 31, 2004


Commission file number: 0-28288





Cardiogenesis Corporation


(formerly known as Eclipse Surgical Technologies, Inc.)
(Exact name of Registrant as specified in its charter)


|                         |  |                                        
|------------------------ |  | ---------------------------------------
|California               |  | 77-0223740                             
|(State of Incorporation) |  | (I.R.S. Employer Identification Number)

26632 Towne Center Drive, Suite 320


Foothill Ranch, California 92610


(Address of
principal executive offices)


(714) 649-5000


(Registrants telephone number, including area code)





Securities registered pursuant to Section 12(g) of the
Act:


Common Stock, no par value


(Title of Class)





þ o


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TABLE OF CONTENTS



|                                                               |                                                                                                          |  |  |  |  |  |  | 
|-------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------- |  |  |  |  |  |  | 
|EXPLANATORY NOTE                                              
|PART III                                                      
|                                                               | Item 10. Directors and Executive Officers of the Registrant.                                            
|                                                               | Item 11. Executive Compensation.                                                                        
|                                                               | Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters.
|SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
|                                                               | Item 13. Certain Relationships and Related Transactions.                                                
|                                                               | Item 14. Principal Accountant Fees and Services.                                                        
|SIGNATURES                                                    
|EXHIBIT INDEX                                                 
|EXHIBIT 31.1                                                  
|EXHIBIT 31.2                                                  
|EXHIBIT 32.1                                                  



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EXPLANATORY NOTE







PART III







|         |                                                    
|-------- | ---------------------------------------------------
|Item 10. | Directors and Executive Officers of the Registrant.

Executive Officers




Board of Directors




|                        |  |     |    |  |          |                                                                         
|----------------------- |  | --- | -- |  | -------- | ------------------------------------------------------------------------
|Name                    |  | Age |    |  | Position
|                        |  |     |    |  |         
|Michael J. Quinn        |  |     | 61 |  |          | Chairman of the Board, President and Chief Executive Officer            
|Joseph R. Kletzel, II   |  |     | 55 |  |          | Director, Senior Vice President, General Manager of Pacific
    Division
|Robert L. Mortensen(1)  |  |     | 70 |  |          | Director                                                                
|Marvin J. Slepian, M.D. |  |     | 49 |  |          | Chief Scientific Officer, Director                                      
|Robert C. Strauss(1)    |  |     | 63 |  |          | Director                                                                
|Kurt E. Wehberg, M.D.   |  |     | 40 |  |          | Director                                                                






|    |                              
|--- | -----------------------------
|(1) | Member of the Audit Committee



Michael J. Quinn


Joseph R. Kletzel, II


1



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Robert L. Mortensen


Marvin J. Slepian, M.D.


Robert C. Strauss


Kurt E. Wehberg, M.D.


Audit Committee






2



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Compensation Committee Interlocks and Insider
Participation




Director Compensation




Section 16(a) Beneficial Ownership Reporting
Compliance




Code of Ethics




3



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|         |                        
|-------- | -----------------------
|Item 11. | Executive Compensation.

Employment Contracts of Executive Officers




Executive Officer Compensation




Summary Compensation Table


|                            |                                             |        |      |                     |           |   |              |              |     |              |              |        |  |     |        |       |     |  |         |         | 
|--------------------------- | ------------------------------------------- | ------ | ---- | ------------------- | --------- | - | ------------ | ------------ | --- | ------------ | ------------ | ------ |  | --- | ------ | ----- | --- |  | ------- | ------- | 
|                            |                                             |        |      |                     |           |   |              |              |     | Long Term    |             
|                            |                                             |        |      |                     |           |   |              |              |     | Compensation |             
|                            |                                             |        |      |                     |           |   |              |              |     | Awards       |             
|                            |                                             |        |      |                     |           |   |              |              |     |              |             
|                            |                                             |        |      |                     |           |   |              | Securities   |    
|                            |                                             |        |      | Annual Compensation |           |   | Other Annual |              |     | Underlying   |             
|                            |                                             | Fiscal |      |                     |           |   |              | Compensation |     |              | Options/SARs |       
|Name and Principal Position |                                             | Year   |      |                     | Salary($) |   |              | Bonus($)     |     |              | ($)          |        |  | (#) |       
|                            |                                             |        |      |                     |           |   |              |              |     |              |              |        |  |     |       
|Michael J. Quinn            |                                             |        | 2004 |                     |           | $ | 410,000      |              |     | $            | 90,000       |        |  |     |       |       |     |  | 155,000 |        
|                            | Chief Executive Officer, President and      |        |      | 2003                |           |   |              | 388,400      |     |              | $            | 80,000 |  |     |        |      |     |  |         | 439,008 | 
|                            | Chairman of the Board                       |        |      | 2002                |           |   |              | 369,930      |     |              |              |       |  |     |        |      |     |  |         | 75,000  | 
|                           
|Christine G. Ocampo         |                                             |        | 2004 |                     |           |   | 175,000      |              |     |              | 25,000       |        |  |     |       |       |     |  | 50,000  |        
|                            | Vice President and Chief Financial Officer, |        |      | 2003                |           |   |              | 136,000      | (1) |              |              | 20,000 |  |     |        |      |     |  |         | 94,138  | 
|                            | Secretary and Treasurer                     |        |      | 2002                |           |   |              | 121,000      |     |              |              | 11,000 |  |     |        |      |     |  |         | 17,000  | 
|                           
|Richard P. Lanigan          |                                             |        | 2004 |                     |           |   | 250,000      |              |     |              | 40,000       |        |  |     |       |       |     |  | 50,000  |        
|                            | Senior Vice President of Marketing          |        |      | 2003                |           |   |              | 223,650      |     |              |              | 30,000 |  |     |        |      |     |  |         | 233,134 | 
|                            |                                             |        |      | 2002                |           |   |              | 222,555      |     |              |              |       |  |     |        |      |     |  |         | 37,500  | 
|                           
|Henry R. Rossell            |                                             |        | 2004 |                     |           |   | 175,000      |              |     |              | 25,000       |        |  | $   | 12,000 | (2)   |     |  | 50,000  |        
|                            | Senior Vice President, GM,                  |        |      | 2003                |           |   |              | 175,000      |     |              |              |       |  |     |        |      |     |  |         | 150,000 | 
|                            | Atlantic Division                           |        |      |                     |           |   |              |              |     |              |              |        |  |     |        |       |     |  |         |         | 
|                           
|Janet M. Fauls              |                                             |        | 2004 |                     |           |   | 170,100      |              |     |              | 17,000       |        |  |     |       |       |     |  | 27,000  |        
|                            | Vice President of Regulatory, Quality and   |        |      | 2003                |           |   |              | 157,500      |     |              |              | 15,000 |  |     |        |      |     |  |         | 68,250  | 
|                            | Clinical Affairs                            |        |      | 2002                |           |   |              | 150,000      |     |              |              |       |  |     |        |      |     |  |         | 17,000  | 
|                           
|Lorrie Orton                |                                             |        | 2004 |                     |           |   | 152,600      |              |     |              |             |        |  |     | 6,000  | (2)   |     |  | 10,000  |        
|                            | Vice President, GM, Pacific Division(3)     |        |      | 2003                |           |   |              | 330,900      |     |              |              |       |  |     |        | 9,500 | (2) |  |         | 25,000  | 
|                            |                                             |        |      | 2002                |           |   |              | 262,800      |     |              |              |       |  |     |        | 8,750 | (2) |  |         | 60,000  | 

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|    |                                                                                                                                             
|--- | --------------------------------------------------------------------------------------------------------------------------------------------
|(1) | Upon her appointment as Chief Financial Officer, Secretary and
    Treasurer, Ms. Ocampos annual base salary was
    increased to $160,000.
|   
|(2) | Car allowance.                                                                                                                              
|   
|(3) | Served as an executive officer of the Company from
    March 26, 2004 to July 16, 2004.                                                     

Option Grants in Fiscal Year 2004




Option Grants in Last Fiscal Year Individual Grants(1)


|                    |  |            |         |               |              |  |    |           |  |   |                      |                          |                    |    |           |  |     |   |         |  |  |   |         | 
|------------------- |  | ---------- | ------- | ------------- | ------------ |  | -- | --------- |  | - | -------------------- | ------------------------ | ------------------ | -- | --------- |  | --- | - | ------- |  |  | - | ------- | 
|                    |  |            |         | Percentage of |              |  |    |           |  |   | Potential Realizable |                         
|                    |  | Number of  |         |               | Total        |  |    |           |  |   |                      | Value at Annual Rates of |                   
|                    |  | Securities |         |               | Options      |  |    |           |  |   |                      | Stock Price Appreciation |                   
|                    |  | Underlying |         |               | Granted to   |  |    | Exercise  |  |   |                      |                          | for Option Term(2) |   
|                    |  | Options    |         |               | Employees in |  |    | Price per |  |   | Expiration           |                          |                    |    |          
|Name                |  | Granted    |         |               | Fiscal Year  |  |    | Share     |  |   | Date                 |                          |                    | 5% |           |  | 10% |  
|                    |  |            |         |               |              |  |    |           |  |   |                      |                          |                    |    |           |  |     |  
|Michael J. Quinn    |  |            | 155,000 |               |              |  | 23 | %         |  | $ | 1.03                 |                          |                    |    | 2/26/2014 |  |     | $ | 100,403 |  |  | $ | 254,441 | 
|Christine G. Ocampo |  |            | 50,000  |               |              |  | 7  | %         |  | $ | 1.03                 |                          |                    |    | 2/26/2014 |  |     | $ | 32,388  |  |  | $ | 82,078  | 
|Richard P. Lanigan  |  |            | 50,000  |               |              |  | 7  | %         |  | $ | 1.03                 |                          |                    |    | 2/26/2014 |  |     | $ | 32,388  |  |  | $ | 82,078  | 
|Henry R. Rossell    |  |            | 50,000  |               |              |  | 7  | %         |  | $ | 1.03                 |                          |                    |    | 2/26/2014 |  |     | $ | 32,388  |  |  | $ | 82,078  | 
|Janet M. Fauls      |  |            | 27,000  |               |              |  | 4  | %         |  | $ | 1.03                 |                          |                    |    | 2/26/2014 |  |     | $ | 17,490  |  |  | $ | 44,322  | 
|Lorrie Orton        |  |            | 10,000  |               |              |  | 1  | %         |  | $ | 1.03                 |                          |                    |    | 2/26/2014 |  |     | $ | 6,478   |  |  | $ | 16,416  | 






|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|--- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(1) | Each of these options was granted pursuant to our Stock Option
    Plan. A total of 688,500 shares of Common Stock issuable
    upon exercise of options were granted to our employees in the
    year ended December 31, 2004.                                                                                                                                                                                                                                                                                                                                     
|   
|(2) | In accordance with the rules of the Securities and Exchange
    Commission, shown are the hypothetical gains or option
    spreads that would exist for the respective options. These
    gains are based on assumed rates of annual compounded stock
    price appreciation of 5% and 10% from the date the option was
    granted over the full option term. The 5% and 10% assumed rates
    of appreciation are mandated by the rules of the SEC and do not
    represent our estimate or projection of future increases in the
    price of our Common Stock.
|   
|(3) | Served as an executive officer of the Company from
    March 26, 2004 to July 16, 2004.                                                                                                                                                                                                                                                                                                                                                                                                                                                                             

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Options Outstanding in Fiscal Year 2004




Aggregate Option Exercises in Last Fiscal Year and Fiscal
Year-End Option Values


|                    |  |              |   |  |          |                        |                      |             |                         |                         |               |  |  |             |         |  |               |   |        |  |  |   |       | 
|------------------- |  | ------------ | - |  | -------- | ---------------------- | -------------------- | ----------- | ----------------------- | ----------------------- | ------------- |  |  | ----------- | ------- |  | ------------- | - | ------ |  |  | - | ----- | 
|                    |  |              |   |  |          | Number of Securities   |                      |             |                        
|                    |  |              |   |  |          | Underlying Unexercised |                      |             | Value of Unexercised    |                        
|                    |  |              |   |  |          | Options at             |                      |             | In-the-Money Options at |                        
|                    |  | Shares       |   |  |          |                        | Fiscal Year-End (#): |             |                         | Fiscal Year-End ($)(1): |              
|                    |  | Acquired on  |   |  | Value    |                        |                      |             |                         |                         |               | 
|                    |  | Exercise (#) |   |  | Realized |                        |                      | Exercisable |                         |                         | Unexercisable |  |  | Exercisable |         |  | Unexercisable |  
|                    |  |              |   |  |          |                        |                      |             |                         |                         |               |  |  |             |         |  |               |  
|Michael J. Quinn    |  |              |  |  |          |                        |                     |             |                         |                         | 1,403,591     |  |  |             | 165,417 |  |               | $ | 78,032 |  |  | $ |      | 
|Christine G. Ocampo |  |              |  |  |          |                        |                     |             |                         |                         | 96,472        |  |  |             | 35,445  |  |               | $ |       |  |  | $ |      | 
|Richard P. Lanigan  |  |              |  |  |          |                        |                     |             |                         |                         | 397,467       |  |  |             | 79,167  |  |               | $ | 35,946 |  |  | $ |      | 
|Henry R. Rossell    |  |              |  |  |          |                        |                     |             |                         |                         | 141,166       |  |  |             | 58,334  |  |               | $ | 25,875 |  |  | $ | 1,125 | 
|Janet M. Fauls      |  |              |  |  |          |                        |                     |             |                         |                         | 100,500       |  |  |             | 21,750  |  |               | $ | 7,088  |  |  | $ |      | 
|Lorrie Orton        |  |              |  |  |          |                        |                     |             |                         |                         |              |  |  |             |        |  |               | $ |       |  |  | $ |      | 






|    |                                                                                                                                                                                                                                                                                                                                    
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(1) | The value for an in the money option represents the
    difference between the exercise price of such option as
    determined by Cardiogenesis Board of Directors and $0.59,
    the closing price of Cardiogenesis Common Stock on
    December 30, 2004, multiplied by the total number of shares
    subject to the option.
|   
|(2) | Served as an executive officer of the Company from
    March 26, 2004 to July 16, 2004.                                                                                                                                                                                                                                            

Amended and New Plan Benefits




|                                                    |                                                              |                   |   |                |                     |  |              |                             |            |   |   |              |  |                |       |  |  |   |   |  |  |  |   |  | 
|--------------------------------------------------- | ------------------------------------------------------------ | ----------------- | - | -------------- | ------------------- |  | ------------ | --------------------------- | ---------- | - | - | ------------ |  | -------------- | ----- |  |  | - | - |  |  |  | - |  | 
|                                                    |                                                              | Stock Option Plan |   |                | 1996 Employee       |  |              | Directors Stock Option Plan |           
|                                                    |                                                              |                   |   |                | Stock Purchase Plan |  |              |                             |           
|                                                    |                                                              |                   |   | Number of      |                     |  |              |                             |            |   |   | Number of    | 
|                                                    |                                                              |                   |   | Shares Subject |                     |  |              |                             | Number of  |   |   |              |  | Shares Subject |      
|                                                    |                                                              | Dollar            |   | to Options     |                     |  | Dollar       |                             | Shares     |   |   | Dollar       |  | to Options     |      
|Name of Individual or Identity of Group or Position |                                                              | Value ($)(1)      |   | Granted (#)    |                     |  | Value ($)(1) |                             | Issued (#) |   |   | Value ($)(1) |  | Granted (#)    |      
|                                                    |                                                              |                   |   |                |                     |  |              |                             |            |   |   |              |  |                |      
|Michael J. Quinn                                    |                                                              | $                 |  |                |                     |  | 155,000      |                             |            | $ |  |              |  |                |      |  |  | $ |  |  |  |  |  | 
|                                                    | President, Chief Executive Officer and Chairman of the Board |                   |   |                |                     |  |              |                             |            |   |   |              |  |                |       |  |  |   |   |  |  |  |   |  | 
|Gerard A. Arthur                                    |                                                              |                   |  |                |                     |  | 20,000       |                             |            |   |  |              |  |                |      |  |  |   |  |  |  |  |  | 
|                                                    | Vice President of Worldwide Service                          |                   |   |                |                     |  |              |                             |            |   |   |              |  |                |       |  |  |   |   |  |  |  |   |  | 
|Janet M. Fauls                                      |                                                              |                   |  |                |                     |  | 27,000       |                             |            |   |  |              |  |                | 1,087 |  |  |   |  |  |  |  |  | 
|                                                    | Vice President of Regulatory, Quality and Clinical Affairs   |                   |   |                |                     |  |              |                             |            |   |   |              |  |                |       |  |  |   |   |  |  |  |   |  | 

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|                                                                |                                                                            |                   |   |                |                     |  |         |                             |           |   |            |           |  |                |         |  |             |  |   |  |  |  |         |  | 
|--------------------------------------------------------------- | -------------------------------------------------------------------------- | ----------------- | - | -------------- | ------------------- |  | ------- | --------------------------- | --------- | - | ---------- | --------- |  | -------------- | ------- |  | ----------- |  | - |  |  |  | ------- |  | 
|                                                                |                                                                            | Stock Option Plan |   |                | 1996 Employee       |  |         | Directors Stock Option Plan |          
|                                                                |                                                                            |                   |   |                | Stock Purchase Plan |  |         |                             |          
|                                                                |                                                                            |                   |   | Number of      |                     |  |         |                             |           |   |            | Number of | 
|                                                                |                                                                            |                   |   | Shares Subject |                     |  |         |                             | Number of |   |            |           |  | Shares Subject |        
|                                                                |                                                                            | Dollar            |   |                | to Options          |  |         | Dollar                      |           |   | Shares     |           |  | Dollar         |         |  | to Options  | 
|Name of Individual or Identity of Group or Position             |                                                                            | Value ($)(1)      |   |                | Granted (#)         |  |         | Value ($)(1)                |           |   | Issued (#) |           |  | Value ($)(1)   |         |  | Granted (#) | 
|                                                                |                                                                            |                   |   |                |                     |  |         |                             |           |   |            |           |  |                |         |  |             | 
|Joseph R. Kletzel, Sr.                                          |                                                                            |                   |  |                |                     |  | 100,000 |                             |           |   |           |           |  |                |        |  |             |  |  |  |  |  |        | 
|                                                                | Senior Vice President,
    General Manager,
    Western Division, Director |                   |   |                |                     |  |         |                             |           |   |            |           |  |                |         |  |             |  |   |  |  |  |         |  | 
|Lee S. Langford                                                 |                                                                            |                   |  |                |                     |  |        |                             |           |   |           |           |  |                |        |  |             |  |  |  |  |  |        | 
|                                                                | Vice President,
    General Manager,
    Central Division                  |                   |   |                |                     |  |         |                             |           |   |            |           |  |                |         |  |             |  |   |  |  |  |         |  | 
|Richard P. Lanigan                                              |                                                                            |                   |  |                |                     |  | 50,000  |                             |           |   |           |           |  |                |        |  |             |  |  |  |  |  |        | 
|                                                                | Senior Vice President of Marketing                                         |                   |   |                |                     |  |         |                             |           |   |            |           |  |                |         |  |             |  |   |  |  |  |         |  | 
|John McIyntre                                                   |                                                                            |                   |  |                |                     |  | 7,500   |                             |           | $ | 2,981      |           |  |                | 38,338  |  |             |  |  |  |  |  |        | 
|                                                                | Vice President of Research and Development                                 |                   |   |                |                     |  |         |                             |           |   |            |           |  |                |         |  |             |  |   |  |  |  |         |  | 
|Christine G. Ocampo                                             |                                                                            |                   |  |                |                     |  | 50,000  |                             |           |   |           |           |  |                |        |  |             |  |  |  |  |  |        | 
|                                                                | Vice President and Chief Financial Officer                                 |                   |   |                |                     |  |         |                             |           |   |            |           |  |                |         |  |             |  |   |  |  |  |         |  | 
|Henry R. Rossell, Jr.                                           |                                                                            |                   |  |                |                     |  | 50,000  |                             |           |   |           |           |  |                |        |  |             |  |  |  |  |  |        | 
|                                                                | Senior Vice President,
    General Manager, Atlantic Division              |                   |   |                |                     |  |         |                             |           |   |            |           |  |                |         |  |             |  |   |  |  |  |         |  | 
|Charles Scarano                                                 |                                                                            |                   |  |                |                     |  | 65,000  |                             |           |   |           |           |  |                |        |  |             |  |  |  |  |  |        | 
|                                                                | Vice President,
    General Manager,
    International Division            |                   |   |                |                     |  |         |                             |           |   |            |           |  |                |         |  |             |  |   |  |  |  |         |  | 
|Robert L. Mortensen                                             |                                                                            |                   |  |                |                     |  |        |                             |           |   |           |           |  |                |        |  |             |  |  |  |  |  | 7,500   | 
|                                                                | Director                                                                   |                   |   |                |                     |  |         |                             |           |   |            |           |  |                |         |  |             |  |   |  |  |  |         |  | 
|Marvin J. Slepian, M.D.                                         |                                                                            |                   |  |                |                     |  |        |                             |           |   |           |           |  |                |        |  |             |  |  |  |  |  | 107,500 | 
|                                                                | Director                                                                   |                   |   |                |                     |  |         |                             |           |   |            |           |  |                |         |  |             |  |   |  |  |  |         |  | 
|Robert C. Strauss                                               |                                                                            |                   |  |                |                     |  |        |                             |           |   |           |           |  |                |        |  |             |  |  |  |  |  | 7,500   | 
|                                                                | Director                                                                   |                   |   |                |                     |  |         |                             |           |   |            |           |  |                |         |  |             |  |   |  |  |  |         |  | 
|Kurt E. Wehberg, M.D.                                           |                                                                            |                   |  |                |                     |  |        |                             |           |   |           |           |  |                |        |  |             |  |  |  |  |  | 7,500   | 
|                                                                | Director                                                                   |                   |   |                |                     |  |         |                             |           |   |            |           |  |                |         |  |             |  |   |  |  |  |         |  | 
|All Current Executive Officers as a group                       |                                                                            |                   |  |                |                     |  | 524,500 |                             |           | $ | 2,981      |           |  |                | 39,425  |  |             |  |  |  |  |  |        | 
|All Named Executive Officers as a group                         |                                                                            |                   |  |                |                     |  | 332,000 |                             |           |   |           |           |  |                | 1,087   |  |             |  |  |  |  |  |        | 
|All current directors who are not executive officers as a group |                                                                            |                   |  |                |                     |  |        |                             |           |   |           |           |  |                |        |  |             |  |  |  |  |  | 130,000 | 
|All other employees as a group                                  |                                                                            |                   |  |                |                     |  | 164,000 |                             |           | $ | 8,563      |           |  |                | 126,049 |  |             |  |  |  |  |  |        | 






|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(1) | Dollar values for options are based upon the difference between
    the closing price of a share of Common Stock on the OTC
    Bulletin Board on April 15, 2005 and the exercise
    price of the option. Dollar values for shares issued under the
    Purchase Plan are based upon the closing price of the Common
    Stock on the OTC Bulletin Board on April 15, 2005. If
    no value is listed, stock options granted under the Stock Option
    Plan are of no value because the exercise price of the stock
    options is above the current trading price of
    Cardiogenesis Common Stock based on a closing price of
    $0.50 on the OTC Bulletin Board on April 15, 2005.

7



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|         |                                                                                                    
|-------- | ---------------------------------------------------------------------------------------------------
|Item 12. | Security Ownership of Certain Beneficial Owners and
    Management and Related Shareholder Matters.




SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
MANAGEMENT






| |   |                                                                                                       
| | - | ------------------------------------------------------------------------------------------------------
| |  | each person know to us to be the beneficial owner of more than
    5% of our outstanding common stock;
|
| |  | each named executive officer;                                                                         
|
| |  | each of our directors; and                                                                            
|
| |  | all executive officers and directors as a group.                                                      



|                                                       |                      |                        |           |            |           |  |      |   | 
|------------------------------------------------------ | -------------------- | ---------------------- | --------- | ---------- | --------- |  | ---- | - | 
|                                                       |                      | Shares of Common Stock |          
|                                                       |                      | Beneficially Owned(1)  |          
|                                                       |                      |                        |          
|                                                       |                      |                        |           | Percentage |          
|Name of Beneficial Owner                               |                      | Number                 |           |            | Ownership | 
|                                                       |                      |                        |           |            |           | 
|5% Shareholders:                                       |                      |                        |           |            |           |  |      |  
|Perkins Capital Management, Inc.(2)                    |                      |                        | 5,389,400 |            |           |  | 12.8 | %
|                                                       | 730 East Lake Street |                        |           |            |           |  |      |   | 
|                                                       | Wayzata, MN 55391    |                        |           |            |           |  |      |   | 
|Directors:                                             |                      |                        |           |            |           |  |      |  
|Joseph R. Kletzel, Sr.(3)(4)                           |                      |                        | 170,556   |            |           |  | *    |  
|Robert L. Mortensen(5)                                 |                      |                        | 199,571   |            |           |  | *    |  
|Marvin J. Slepian, M.D.(6)                             |                      |                        | 118,125   |            |           |  | *    |  
|Robert C. Strauss(7)                                   |                      |                        | 156,875   |            |           |  | *    |  
|Kurt E. Wehberg, M.D.(8)                               |                      |                        | 18,125    |            |           |  | *    |  
|Named Executive Officers:                              |                      |                        |           |            |           |  |      |  
|Michael J. Quinn(9)(10)                                |                      |                        | 1,859,365 |            |           |  | 4.4  | %
|Christine G. Ocampo(11)                                |                      |                        | 183,833   |            |           |  | *    |  
|Richard P. Lanigan(12)                                 |                      |                        | 532,355   |            |           |  | 1.3  | %
|Henry R. Rossell(13)                                   |                      |                        | 238,195   |            |           |  | *    |  
|Janet M. Fauls(14)                                     |                      |                        | 162,813   |            |           |  | *    |  
|All directors and officers as a group (14 persons)(15) |                      |                        | 3,926,959 |            |           |  | 8.6  | %






| |   |              
| | - | -------------
| | * | Less than 1%.



| |     |                                                                                                                                                                            
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (1) | Percentage ownership is based on 42,216,495 shares of
    Common Stock outstanding as of April 15, 2005.                                                                   
|
| | (2) | The number of shares of Common Stock beneficially owned or of
    record has been determined solely from information reported on a
    Schedule 13G as of February 4, 2005.

8



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##### Table of Contents





| |     |                                                                                                                                                                                                       
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (3) | Joseph R. Kletzel is a member of the Board of Directors and
    became an Officer in June 2005 when he assumed the role of
    Senior Vice President, General Manager, Western Division.              
|
| | (4) | Includes 170,556 shares of Common Stock subject to stock
    options held by Mr. Kletzel that are exercisable within
    60 days of April 15, 2005.                                                   
|
| | (5) | Includes 173,375 shares of Common Stock subject to stock
    options held by Mr. Mortensen that are exercisable within
    60 days of April 15, 2005.                                                 
|
| | (6) | Includes 118,125 shares of Common Stock subject to stock
    options held by Dr. Slepian that are exercisable within
    60 days of April 15, 2005.                                                   
|
| | (7) | Includes 156,875 shares of Common Stock subject to stock
    options held by Mr. Strauss that are exercisable within
    60 days of April 15, 2005.                                                   
|
| | (8) | Includes 18,125 shares of Common Stock subject to stock
    options held by Dr. Wehberg that are exercisable within
    60 days of April 15, 2005.                                                    
|
| | (9) | Michael J. Quinn is both a member of the Board of Directors
    and a Named Executive Officer in his positions as
    Cardiogenesis Chief Executive Officer, President and
    Chairman of the Board.



|     |                                                                                                                                                                                                                        
|---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(10) | Includes 1,656,715 shares of Common Stock subject to stock
    options held by Mr. Quinn that are exercisable within
    60 days of April 15, 2005.                                                                    
|    
|(11) | Includes 183,833 shares of Common Stock subject to stock
    options held by Ms. Ocampo that are exercisable within
    60 days of April 15, 2005.                                                                     
|    
|(12) | Includes 496,772 shares of Common Stock subject to stock
    options held by Mr. Lanigan that are exercisable within
    60 days of April 15, 2005.                                                                    
|    
|(13) | Includes 238,195 shares of Common Stock subject to stock
    options held by Mr. Rossell that are exercisable within
    60 days of April 15, 2005.                                                                    
|    
|(14) | Includes 147,791 shares of Common Stock subject to stock
    options held by Ms. Fauls that are exercisable within
    60 days of April 15, 2005.                                                                      
|    
|(15) | Includes options to purchase an aggregate of
    3,647,508 shares of Common Stock held by all named
    executive officers, current officers and directors as a group
    exercisable within 60 days of April 15, 2005.






|         |                                                
|-------- | -----------------------------------------------
|Item 13. | Certain Relationships and Related Transactions.








|         |                                        
|-------- | ---------------------------------------
|Item 14. | Principal Accountant Fees and Services.

Audit Fees




|                   |                |      |        |         |      |   |         |         | 
|------------------ | -------------- | ---- | ------ | ------- | ---- | - | ------- | ------- | 
|                   |                | 2003 |        |         | 2004 |  
|                   |                |      |        |         |      |  
|Audit Fees         |                | $    | 95,420 |         |      | $ | 189,680 |        
|Audit-Related Fees |                |      | 3,480  |         |      |   | 93,292  |        
|Tax Fees           |                |      | 31,825 |         |      |   | 39,914  |        
|All Other Fees     |                |      |       |         |      |   | 1,500   |        
|                   |                |      |        |         |      |  
|                   | Total PWC Fees |      | $      | 130,725 |      |   | $       | 324,386 | 
|                   |                |      |        |         |      |  

Form 10-Q


9



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##### Table of Contents









Audit Committee Policies and Procedures for Preapproval of
Audit and Non-Audit Services








|         |          
|-------- | ---------
|Item 15. | Exhibits.



|            |    |    |             |                                                                                                                                                                                               
|----------- | -- | -- | ----------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Exhibit No. |    |    | Description
|            |    |    |            
|            | 31 | .1 |             | Certification of the Chief Executive Officer pursuant to
    Rule 13a-14(a) of Securities Exchange Act of 1934, as
    adopted pursuant to Section 302 of the Sarbanes-Oxley Act
    of 2002  
|            | 31 | .2 |             | Certification of the Chief Financial Officer pursuant to
    Rule 13a-14(a) of Securities Exchange Act of 1934, as
    adopted pursuant to Section 302 of the Sarbanes-Oxley Act
    of 2002  
|            | 32 | .1 |             | Certifications of the Chief Executive Officer and Chief
    Financial Officer pursuant to 18 U.S.C. Section 1350,
    as adopted pursuant to Section 906 of the Sarbanes-Oxley
    Act of 2002

10



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##### Table of Contents






SIGNATURES


Pursuant to the requirements of Section 13 or 15(d) of
the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.




| |                          
| | -------------------------
| | Cardiogenesis Corporation



| |     |                     
| | --- | --------------------
| | By: | /s/ MICHAEL J. QUINN

| |                                   
| | ----------------------------------
| |                                   
| | Michael J. Quinn                  
| | President, Chief Executive Officer
| | Chairman of the Board and Director
| | (Principal Executive Officer)     



Pursuant to the requirements of the Securities Exchange Act
of 1934, this Report has been signed below by the following
persons on behalf of the Registrant in the capacities and on the
date indicated.


|                                               |  |                                                                                                                  |  |            
|---------------------------------------------- |  | ---------------------------------------------------------------------------------------------------------------- |  | -----------
|Signature                                      |  | Title                                                                                                            |  | Date       
|                                               |  |                                                                                                                  |  |            
|/s/ MICHAEL J. QUINNMichael
    J. Quinn       |  | President, Chief Executive Officer,
    Chairman of the Board and Director(Principal Executive Officer)          |  | May 2, 2005
|/s/ CHRISTINE G. OCAMPOChristine
    G. Ocampo |  | Vice President, Chief Financial
    Officer, Secretary and Treasurer(Principal Accounting and Financial Officer) |  | May 2, 2005

11



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##### Table of Contents






EXHIBIT INDEX


|            |    |    |             |                                                                                                                                                                                               
|----------- | -- | -- | ----------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Exhibit No. |    |    | Description
|            |    |    |            
|            | 31 | .1 |             | Certification of the Chief Executive Officer pursuant to
    Rule 13a-14(a) of Securities Exchange Act of 1934, as
    adopted pursuant to Section 302 of the Sarbanes-Oxley Act
    of 2002  
|            | 31 | .2 |             | Certification of the Chief Financial Officer pursuant to
    Rule 13a-14(a) of Securities Exchange Act of 1934, as
    adopted pursuant to Section 302 of the Sarbanes-Oxley Act
    of 2002  
|            | 32 | .1 |             | Certifications of the Chief Executive Officer and Chief
    Financial Officer pursuant to 18 U.S.C. Section 1350,
    as adopted pursuant to Section 906 of the Sarbanes-Oxley
    Act of 2002