Neovasc Inc. (NASDAQ:NVCN) Q3 2019 Earnings Conference Call - Final Transcript

Nov 07, 2019 • 04:30 pm ET

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Neovasc Inc. (NASDAQ:NVCN) Q3 2019 Earnings Conference Call - Final Transcript

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Executive
Christopher Clark

available on favorable terms or at all, and the Company will be forced to hold one or more of these strategies. These circumstances indicate the existence of material uncertainty and cast substantial doubt by the Company's ability to continue as a going concern.

However, it is on the strength of these value creation strategies for each of our two products, Reducer and Tiara, that the Company has been able to start rebuilding its capital structure. Only $6.874 million of principal amount for 2017 notes remain outstanding. And we have attracted a high-quality investment from Strul Medical Group and we have seen a rebound in our share price from the lows during the summer.

As we continue to evolve our shareholder base, we will continue to initially reach out to fundamental long-only funds focused on medical technologies. We recently hired Westwicke ICR to help us with this process, and we're attending three major health care conferences in the remainder of this year as we believe at the start of a fundamental transition for the Company.

There are two important share price points that we have targeted. The first is $4.58 when the Company's market capitalization will exceed $35 million when we concur the NASDAQ minimum market value breach, and the second is $5 when we cease to be considered a penny stock and can reach out to a broader range of medical technology-focused long-only institutions.

While we may suffer some share price fluctuations in the near term, we continue to believe that the fundamental value inherent in both the Tiara and Reducer, and our continued future successes on our value creation strategies should translate into future share price gains in the long term.

I will now turn the call back over to Fred.

Executive
Fred Colen

Thanks, Chris. With that, we'll be happy to answer your questions. Operator, please open the call up for questions.