U.S. SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

~~[X]~~ x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ~~FOR THE QUARTERLY PERIOD ENDED FEBRUARY 28, 2011~~

FOR THE QUARTERLY PERIOD ENDED AUGUST 31, 2011

~~[ ]~~ o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ~~FOR THE TRANSITION PERIOD FROM ______________ TO ______________~~

FOR THE TRANSITION PERIOD FROM ________ TO _______

COMMISSION FILE NUMBER: 0-13187

NVCN CORPORATION

(Exact Name of Registrant as Specified in Its Charter)

Delaware		13-3074570
(State or Other Jurisdiction of Incorporation or Organization)		(IRS Employer Identification No.)

1800 Wooddale Drive, Suite 208, Woodbury, Minnesota		55125
(Address of Principal Executive Offices)		(Zip Code)

(612) 750-5855.

(Registrant’s Telephone Number)

Novacon Corporation.

(Former Name, Former Address, and Former Fiscal Year, if Changed Since Last Report)

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 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) been subject to such filing requirements for the past 90 days. Yes £ No T

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes £ o No £ o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated file, non-accelerated filer, or a smaller reporting company.

Large accelerated filer £o Accelerated filed o Non-accelerated filer £o ~~Accelerated filed £~~ Smaller reporting company Tx

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes T No £

As of ~~April~~October 2212, 2011 the Registrant had 14,548,371 shares of common stock issued and outstanding.

TABLE OF CONTENTS

PART I – FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENT
ITEM 1.	FINANCIAL STATEMENT
BALANCE SHEET AS OF FEBRUARY 28,2011	3
	BALANCE SHEET AS OF AUGUST 31, 2011	3
STATEMENT OF OERATIONS FOR THE THREE AND NINE MONTHS ENDED FEBRUARY 28, 2011 AND FEBRUARY 28, 2010 (UNAUDITED)	4
	STATEMENT OF OERATIONS FOR THE THREE MONTS ENDED AUGUST 31, 2011 AND AUGUST 31, 2010 (UNAUDITED)	4
STATEMENT OF CASH FLOWS FOR NINE MONTHS ENDED FEBRUARY 28, 2011 AND FEBRUARY 28, 2010 (UNAUDITED)	5
	STATEMENT OF CASH FLOWS FOR THREE MONTHS ENDED AUGUST 31, 2011 AND AUGUST 31, 2010 (UNAUDITED)	5
~~NOTES TO FINANCIAL STATEMENTS~~	6NOTES TO FINANCIAL STATEMENTS	6
ITEM 2. MANAGMENT DISCUSSION AND ANALYSIS	10
ITEM 2.	MANAGMENT DISCUSSION AND ANALYSIS	10
ITEM 3. QUANATATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISKS	11
ITEM 3.	QUANATATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISKS	11
ITEM 4T. CONTROLS AND PROCEDURES	11
ITEM 4T.	CONTROLS AND PROCEDURES	11
PART II – OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS	12
ITEM 1.	LEGAL PROCEEDINGS	12
ITEM 1A. RISK FACTORS
ITEM 1A.	RISK FACTORS
	12
ITEM 2.	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	12
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	12
ITEM 3.	DEFAULTS UPON SENIOR SECURITIES	12
ITEM 3. DEFAULTS UPON SENIOR SECURITIES	12
ITEM 4.	[REMOVE AND RESERVE]	12
ITEM 4. [REMOVED AND RESERVED]	12
ITEM 5.	OTHER INFORMATION	12
ITEM 5. OTHER INFORMATION	12
ITEM 6.	EXHIBITS	12
ITEM 6. EXHIBITS	12
SIGNATURES		13
SIGNATURES	13

PART I – FINANCIAL INFORMATION

ITEM 1. : FINANCIAL STATEMENTS.

NVCN CORPORATION

BALANCE SHEET

(Unaudited)

	February 28,	May 31,
		August 31,			May 31,
	~~2011~~	~~2010~~2011			2011
ASSETS
Current assets
Cash	~~$ 29~~	$ 17	8		$	28
Notes receivable	15,000	--
Note receivable			15,000			15,000
Total current assets	15,029	17
Total Assets			15,008		$	15,028
Total Assets	$ 15,029	$ 17
LIABILITIES AND STOCKHOLDERS’ DEFICIT
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current Liabilities
Current Liabilities
Accounts payable and accrued expenses			102,162			102,162
Accounts payable and accrued expenses	$ 94,591	$ 107,917
Accrued interest			11,164			10,447
Accrued interest	9,730	916,853
Accrued compensation- related party			35,886			23,386
Accrued compensation- related party	10,886	274,121
Notes payable- related parties			310			310
Accrued litigation settlement	0	1,344,582
Notes payable- third party			86,413			86,413
Notes payable- related parties	300	950
Total Current Liabilities			235,935			222,718
Notes payable- third party	83,363	102,763
Stockholders’ Deficit
Total Current Liabilities	198,870	2,747,186
Common stock, $0.001 par value; authorized 50,000,000
Stockholders’ Equity (Deficit)
shares; issued and outstanding 14,548,371 shares respectively			14,548			14,548
Common stock, $0.001 par value; authorized 50,000,000
Preferred stock, $0.01 par value authorized 10,000,000
shares, issued and outstanding 14,548,371 and 1,748,371 shares, respectively	14,548	1,748
shares; issued and outstanding; none			--			--
Preferred stock, $0.01 par value, authorized 10,000,000 shares;
Additional paid-in capital			9,335,364			9,335,364
issued and outstanding; none	--	--
Retained earnings (deficit)			(9,570,840	)		(9,557,602	)
Additional paid-in capital	9,335,364	8,948,564
Total Stockholders’ Deficit			(220,907	)		(207,690	)
Retained earnings (deficit)	(9,533,753	(11,697,481)
Total liabilities and stockholders deficit		$	15,008		$	15,028
Total Stockholders’ Deficit	(183,841)	(2,747,169)
Total liabilities and stockholders’ equity (deficit)	$ 15,029	$ 17

The accompanying notes are an integral part of the unaudited financial statements

NVCN CORPORATION

STATEMENTS OF OPERATIONS

(Unaudited)

	~~Three Months Ended~~	Three Months Ended	~~Nine Months Ended~~
	February 28,		February 28
		August 31
	~~2011~~	~~2010~~2011	~~2011~~	~~2010~~	2010
Revenue	~~$ --~~	$ --	$ --	~~$ --~~	$	--
Selling, General, and Administrative Expenses	~~33,955~~	~~12,500~~	6112,~~744~~520	~~37,430~~		12,620
Operating loss	~~(33,955)~~	~~(12,500)~~	(6112,~~744)~~520	~~(37,430~~)		(12,620	)
Other income (expense)
Other income(expense)
Interest expense	~~(1,334)~~	~~(24,651)~~	(~~3,374)~~717	~~(73,634~~)		(1,764	)
Total other income(expense)	~~(1,334)~~	~~(24,651)~~	(~~3,374)~~717	~~(73,634~~)		(1,764	)
Net loss	~~$ (35,289)~~	$ ~~(37,151)~~	$ (6413,~~118)~~237	~~$ (111,064~~)	$	(14,384	)
Basic loss per common share	$ (0.00)	$ (0.02)	$ (0.02)	$ (0.08)
Basic and Diluted Loss per Common Share
Weighted Average Number of Common Shares
Net loss		$	(0.00	)	$	(0.01	)
Used to Compute net loss per Weighted Average Share	10,655,993	1,748,371	2,855,505	1,748,371
Weighted Average Number of Common Shares
Used to Compute Net loss per Weighted Average Share			14,548,371			1,748,371

The accompanying notes are an integral part of the unaudited financial statements

NVCN CORPORATION

STATEMENTS OF CASH FLOWS

(Unaudited)

	Nine Months Ended
		Three Months Ended
	February 28,
		August 31,
	~~2011~~	~~2010~~2011			2010
Operating Activities
Net Income (Loss) Before Extraordinary Item	~~$ (64,118)~~	$ ~~(111,064)~~	(13,238	)	$	(14,384	)
Adjustments to Reconcile Net (Loss) to Net Cash
(Required) by Operating Activities:
Accounts payable	~~10,674~~	~~(9,002)~~	--			(4,000	)
Accrued Interest	~~4,642~~	~~73,635~~	718			1,327
Accrued compensation-related party	~~(2,136)~~	~~22,401~~	12,500			(6,733	)
Net Cash Used by Operating Activities	(50,938)	(24,030)
Net Cash Required by Operating Activities			(20	)		(23,790	)
Investing Activities:
Investment in note receivable	(15,000)	--
Cash given in consideration with
Net Cash Required by Investing Activities	(15,000)	--
stock and other assets for the reduction
Financing Activities:
of accrued compensation liabilities			--			--
Bank overdraft	--	(903)
Net Cash Required by Investing Activities			--			--
Proceeds from notes payable	66,600	24,000
Financing Activities:
Proceeds from payments of note payable-related party	(650)	950
Notes payable			--			24,000
Net Cash Provided by Financing Activities	~~65,950~~	~~24,047~~	--			23,847
Increase (Decrease) in Cash and Cash Equivalents	12	17	(20	)		210
Cash and Cash Equivalents at Beginning Of Period	17	--	28			17
Cash and Cash Equivalents at End of Period	~~$ 29~~	$ 17	8			227
Supplemental schedules of cash flow information:
Interest paid	0	0	--			--
Income Taxes paid	0	0	--			--
Non-Monetary Transactions
Stock issued for accounts payable	$ 40,000	0
Stock issued for notes payable	$ 86,000	0
Stock issued for accrued compensation	$ 273,600	0

The accompanying notes are an integral part of the unaudited financial statements

NVCN CORPORATION

NOTES TO FINANCIAL STATEMENTS

(Unaudited)

NOTE 1: BASIS OF PRESENTATION

~~BASIS~~The OFaccompanying ~~PRESENTATION~~unaudited interim consolidated financial statements of NVCN Corporation (“NVCN”) have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited consolidated financial statements and notes thereto contained in NVCN’s May 31, 2010 Annual Report filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosure contained in the audited financial statements for the most recent fiscal year end May 31, 2010 as reported on Form 10-K, have been omitted.

~~The~~NOTE ~~accompanying~~2: GOING ~~unaudited~~CONCERN interim consolidated financial statements of NVCN Corporation (“NVCN”) have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited consolidated financial statements and notes thereto contained in NVCN’s May 31, 2010 Annual Report filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosure contained in the audited financial statements for the most recent fiscal year end May 31, 2010 as reported on Form 10-K, have been omitted. CONSIDERATIONS

~~NOTE~~As 2:shown in the accompanying interim financial statements, the Company has incurred a net loss of $13,237 for the three months ending August 31, 2011. As of August 31, 2011, the Company reported an accumulated deficit of $9,570,840. The Company has no sales or revenue. The Company’s ability to generate net income and positive cash flows is dependent on the ability to acquire or start an operating entity as well as the ability to raise additional capital. Management is following strategic plans to accomplish these objectives, but success is not guaranteed. As of August 31, 2011, these factors raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of this uncertainty.

~~GOING~~NOTE ~~CONCERN~~3: SUMMARY ~~CONSIDERATIONS~~OF SIGNIFICANT ACCOUNTING POLICIES

AsBasis ~~shown in the accompanying interim financial statements, the Company has incurred a net loss~~ of $64,118 for the nine months ending February 28, 2011. As of February 28, 2011, the Company reported an accumulated deficit of $9,533,753. The Company has no sales or revenue. The Company’s ability to generate net income and positive cash flows is dependent on the ability to acquire or start an operating entity as well as the ability to raise additional capital. Management is following strategic plans to accomplish these objectives, but success is not guaranteed. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of this uncertainty.Presentation

~~NOTE~~The 3:accounting ~~SUMMARY~~and OFreporting ~~SIGNIFICANT~~policies ~~ACCOUNTING~~of ~~POLICIES~~the Company conform to U.S. generally accepted accounting principles (US GAAP).

~~Basis~~Going ~~of Presentation~~Concern

The accompanying financial statements have been prepared in conformity with accounting ~~and~~principles ~~reporting~~generally ~~policies~~accepted in the United States of America, which contemplate continuation of the Company ~~conform~~as toa Ugoing concern.S However, the Company has no established source of revenue. ~~generally~~This ~~accepted~~matter ~~accounting~~raises ~~principles~~substantial ~~(US~~doubt ~~GAAP)~~about the Company's ability to continue as a going concern. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

~~Going~~The ~~Concern~~Company intends to pursue acquisitions of various business opportunities that, in the opinion of management, will provide a profit to the Company; however, the Company does not have the working capital to be successful in this effort or to service its debt. These factors raise substantial doubt about its ability to continue as a going concern.

The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern. However, the Company has no established source of revenue. This matter raises substantial doubt about the Company's ability to continue as a going concern. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.6

~~The~~Continuation of the Company ~~intends~~as toa ~~pursue~~going ~~acquisitions~~concern ofis ~~various~~dependent ~~business~~upon ~~opportunities~~obtaining ~~that,~~additional inworking capital and the ~~opinion~~management of ~~management,~~the ~~will~~Company ~~provide~~has developed a ~~profit~~strategy tothat it believes will accomplish this objective through additional equity funding which will enable the Company; ~~however,~~to operate for the ~~Company~~coming ~~does~~year. ~~not~~There ~~have~~is no guarantee that additional funding will be obtained or that the ~~working~~Company will be successful in it funding efforts or acquiring any profitable business opportunities.

6Basic and Diluted Earnings (Loss) per Share

~~capital~~The toCompany bereports ~~successful~~earnings (loss) per share in ~~this~~accordance ~~effort~~with orASC 260, "Earnings per Share." Basic earnings (loss) per share are computed by dividing income (loss) available to ~~service~~common ~~its~~stockholders ~~debt~~by the weighted average number of common shares available. Diluted ~~These~~earnings ~~factors~~(loss) ~~raise~~per ~~substantial~~share ~~doubt~~is ~~about~~computed ~~its~~similar ~~ability~~to basic earnings (loss) per share except that the denominator is increased to ~~continue~~include asthe anumber ~~going~~of ~~concern~~additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive.

~~Continuation~~The ~~of the~~ Company ~~as a going concern is dependent upon obtaining additional working capital and the management of the Company~~ has ~~developed a strategy that it believes will accomplish this objective through additional equity funding which will enable the Company to operate for the coming year. There is~~ no ~~guarantee~~potential ~~that~~dilutive ~~additional~~instruments ~~funding~~and ~~will~~accordingly, bebasic ~~obtained~~loss orand ~~that~~diluted ~~the~~share ~~Company~~loss ~~will~~per beshare ~~successful~~are ~~in it funding efforts or acquiring any profitable business opportunities~~equal.

~~Basic~~Estimates and ~~Diluted Earnings (Loss) per Share~~Assumptions

~~The~~Management ~~Company~~uses ~~reports~~estimates ~~earnings~~and ~~(loss)~~assumptions ~~per~~in ~~share~~preparing financial statements in accordance with ~~ASC~~generally ~~260,~~accepted ~~"Earnings~~accounting ~~per Share~~principles." Those ~~Basic~~estimates ~~earnings~~and ~~(loss)~~assumptions ~~per~~affect ~~share are computed by dividing income (loss) available to common stockholders by~~ the ~~weighted~~reported ~~average~~amounts ~~number~~ of ~~common shares available. Diluted earnings (loss) per share is computed similar to basic earnings (loss) per share except that~~ the ~~denominator~~assets isand ~~increased~~liabilities, ~~to include~~ the ~~number~~disclosure of ~~additional~~contingent ~~common~~assets ~~shares~~and ~~that~~liabilities, ~~would~~and ~~have~~the ~~been~~reported ~~outstanding~~revenues ifand ~~the~~expenses. Actual ~~potential~~results ~~common~~could ~~shares~~vary ~~had~~from ~~been~~the ~~issued~~estimates ~~and~~that ifwere ~~the~~assumed ~~additional~~in ~~common~~preparing ~~shares~~these ~~were~~financial ~~dilutive~~statements.

~~The~~Statement ~~Company~~of ~~has~~Cash ~~no potential dilutive instruments and accordingly, basic loss and diluted share loss per share are equal.~~Flows

~~Estimates~~For ~~and~~the ~~Assumptions~~purposes of the statement of cash flows, the Company considers all highly liquid investments with a maturity of three months or less to be cash equivalents.

~~Management~~Revenue uses estimates and assumptions in preparing financial statements in accordance with generally accepted accounting principles. Those estimates and assumptions affect the reported amounts of the assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could vary from the estimates that were assumed in preparing these financial statements.Recognition

~~Statement~~The ofCompany ~~Cash~~has ~~Flows~~not recognized any revenues from its operations.

~~For~~NOTE ~~the~~4: RECENT ~~purposes~~ACCOUNTING ~~of the statement of cash flows, the Company considers all highly liquid investments with a maturity of three months or less to be cash equivalents.~~PRONOUNCEMENTS

~~Revenue~~In ~~Recognition~~January 2010, the FASB issued Accounting Standards Update 2010-01, Equity (Topic 505): Accounting for Distributions to Shareholders with Components of Stock and Cash (A Consensus of the FASB Emerging Issues Task Force). This amendment to Topic 505 clarifies the stock portion of a distribution to shareholders that allows them to elect to receive cash or stock with a limit on the amount of cash that will be distributed is not a stock dividend for purposes of applying Topics 505 and 260. This ASU is effective for interim and annual periods ending on or after December 15, 2009, and would be applied on a retrospective basis. The Company does not expect the provisions of ASU 2010-01 to have a material effect on the financial position, results of operations or cash flows of the Company.

~~The Company has not recognized any revenues from its operations.~~7

~~NOTE~~In 4:April 2010, the FASB issued Accounting Standard Update No. 2010-13 “Stock Compensation” (Topic 718). ASU No.2010-13 provides amendments to Topic 718 to clarify that an employee share-based payment award with an exercise price denominated in the currency of a market in which a substantial portion of the entity's equity securities trades should not be considered to contain a condition that is not a market, performance, or service condition. Therefore, an entity would not classify such an award as a liability if it otherwise qualifies as equity. The amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2010. The amendments in this Update should be applied by recording a cumulative-effect adjustment to the opening balance of retained earnings. The cumulative-effect adjustment should be calculated for all awards outstanding as of the beginning of the fiscal year in which the amendments are initially applied, as if the amendments had been applied consistently since the inception of the award. The cumulative-effect adjustment should be presented separately. Earlier application is permitted. The adoption of this guidance has not had and is not expected to have a material impact on the Company’s consolidated financial statements.

~~RECENT~~In ~~ACCOUNTING~~April ~~PRONOUNCEMENTS~~2010, the FASB issued Accounting Standards Update (“ASU” or “Update”) No. 2010–17, “Revenue Recognition - Milestone Method.” The objective of this Update is to provide guidance on defining a milestone and determining when it may be appropriate to apply the milestone method of revenue recognition for research or development transactions. The amendments in this Update are effective on a prospective basis for milestones achieved in fiscal years, and interim periods within those years, beginning on or after June 15, 2010. Early adoption is permitted. The Company does not expect that the adoption of this pronouncement will have a significant effect on its unaudited interim financial statements.

In ~~January~~February 2010, ~~the~~ FASB issued ~~Accounting~~ASU ~~Standards~~No. ~~Update~~ 2010-0109, ~~Equity~~“Subsequent Events” (Topic ~~505~~855): ~~Accounting~~Amendments ~~for Distributions~~ to ~~Shareholders~~Certain ~~with~~Recognition ~~Components of Stock~~ and ~~Cash~~Disclosure Requirements (A“ASU ~~Consensus of the FASB Emerging Issues Task Force~~2010-09”). ~~This~~ ~~amendment~~ASU to2010-09 ~~Topic~~amends ~~505~~disclosure ~~clarifies~~requirements ~~the~~within ~~stock~~Subtopic ~~portion~~855-10. ofAn aentity ~~distribution~~that tois ~~shareholders~~an ~~that~~SEC ~~allows~~filer ~~them~~is tonot ~~elect~~required to ~~receive~~disclose ~~cash or stock with a limit on~~ the ~~amount~~date ofthrough ~~cash~~which ~~that~~subsequent ~~will~~events behave ~~distributed~~been isevaluated. ~~not~~This achange ~~stock~~alleviates ~~dividend~~potential ~~for~~conflicts ~~purposes~~between ofSubtopic ~~applying~~855-10 ~~Topics~~and ~~505~~the ~~and~~SEC’s ~~260~~requirements. ~~This~~ ASU 2010-09 is effective for interim and annual periods ending ~~on or~~ after ~~December~~June 15, ~~2009, and would be applied on a retrospective basis~~2010. The Company does not expect the ~~provisions~~adoption of ASU 2010-0109 to have a material ~~effect~~impact on ~~the~~its ~~financial~~unaudited ~~position,~~interim results of operations or ~~cash~~financial ~~flows of the Company~~position.

7In January 2010, the FASB issued ASU No. 2010-06, “Improving Disclosures about Fair Value Measurements” (ASU 2010-06) (codified within ASC 820 Fair Value Measurements and Disclosures). ASU 2010-06 improves disclosures originally required under SFAS No. 157. ASU 2010-06 is effective for interim and annual periods beginning after December 15, 2009, except for the disclosures about purchases, sales, issuances and settlements in the roll forward of activity in Level 3 fair value measurements. Those disclosures are effective for fiscal years beginning after December 15, 2010, and for interim periods within those years. The adoption of the guidance did not have a material effect on the Company's unaudited interim financial position, results of operations, cash flows or related disclosures.

InNOTE ~~April~~5: RELATED ~~2010,~~PARTY the FASB issued Accounting Standard Update No. 2010-13 “Stock Compensation” (Topic 718). ASU No.2010-13 provides amendments to Topic 718 to clarify that an employee share-based payment award with an exercise price denominated in the currency of a market in which a substantial portion of the entity's equity securities trades should not be considered to contain a condition that is not a market, performance, or service condition. Therefore, an entity would not classify such an award as a liability if it otherwise qualifies as equity. The amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2010. The amendments in this Update should be applied by recording a cumulative-effect adjustment to the opening balance of retained earnings. The cumulative-effect adjustment should be calculated for all awards outstanding as of the beginning of the fiscal year in which the amendments are initially applied, as if the amendments had been applied consistently since the inception of the award. The cumulative-effect adjustment should be presented separately. Earlier application is permitted. The adoption of this guidance has not had and is not expected to have a material impact on the Company’s consolidated financial statements.TRANSACTION

InAs ~~April~~of ~~2010,~~August ~~the FASB issued Accounting Standards Update (“ASU” or “Update”) No. 2010–17~~31, ~~“Revenue~~2011 ~~Recognition~~an -outstanding ~~Milestone~~balance ~~Method.” The objective~~ of ~~this~~$310 ~~Update~~was isdue to ~~provide~~the ~~guidance~~officer onas ~~defining~~an aadvance ~~milestone and determining when it may be appropriate~~ to ~~apply~~ the milestone method of revenue recognition for research or development transactions. The amendments in this Update are effective on a prospective basis for milestones achieved in fiscal years, and interim periods within those years, beginning on or after June 15, 2010. Early adoption is permitted. The Company ~~does not expect that the adoption of this pronouncement will have a significant effect on its unaudited interim financial statements~~.

InNOTE ~~February~~6: INCOME 2010, FASB issued ASU No. 2010-09, “Subsequent Events” (Topic 855) Amendments to Certain Recognition and Disclosure Requirements (“ASU 2010-09”). ASU 2010-09 amends disclosure requirements within Subtopic 855-10. An entity that is an SEC filer is not required to disclose the date through which subsequent events have been evaluated. This change alleviates potential conflicts between Subtopic 855-10 and the SEC’s requirements. ASU 2010-09 is effective for interim and annual periods ending after June 15, 2010. The Company does not expect the adoption of ASU 2010-09 to have a material impact on its unaudited interim results of operations or financial position.TAXES

In January 2010, the FASB issued ASU No. 2010-06, “Improving Disclosures about Fair Value Measurements” (ASU 2010-06) (codified within ASC 820 Fair Value Measurements and Disclosures). ASU 2010-06 improves disclosures originally required under SFAS No. 157. ASU 2010-06 is effective for interim and annual periods beginning after December 15, 2009, except for the disclosures about purchases, sales, issuances and settlements in the roll forward of activity in Level 3 fair value measurements. Those disclosures are effective for fiscal years beginning after December 15, 2010, and for interim periods within those years. The ~~adoption of the guidance did not have a material effect on the~~ Company's ~~unaudited~~follows ~~interim~~Accounting ~~financial~~Standards ~~position,~~Codification ~~results of operations~~740, ~~cash~~Accounting ~~flows~~for orIncome ~~related disclosures~~Taxes.

~~NOTE 5:~~8

~~RELATED~~Under ~~PARTY~~section ~~TRANSACTION~~382 of the Internal Revenue Code such a change in control negates much of the tax loss carry forward and deferred income tax. Deferred income taxes reflect the net tax effects of (a) temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax reporting purposes, and (b) net operating loss carry forwards. For federal income tax purposes, the Company uses the accrual basis of accounting, the same that is used for financial reporting purposes.

InNOTE ~~January~~7: COMMITMENTS ~~and~~AND February, 2011 the Company issued 9,000,000 shares of restricted stock to 33 individuals to whom the company’s sole director had assigned his claim against the Company for accrued compensation with a value of $273,600.CONTINGENCIES

In December 2003, the Company executed an agreement with its stock transfer agent to settle all past outstanding obligations for $8,000. The payment was subsequently made in January 2004 per the terms of the agreement. As part of ~~February~~the 28settlement, ~~2011~~the ~~there~~Company ~~was~~entered into an ~~outstanding~~agreement ~~advance~~to ~~due~~retain the ~~officer~~stock transfer agent through December 2006 at the mutually agreed rate of $~~300~~625 per month. As of August 31, 2011 the Company has an outstanding balance of $ 23,013 with the stock transfer agent.

~~NOTE~~ITEM 62: MANAGEMENTS DISCUSSION AND ANALYSIS

~~INCOME~~This ~~TAXES~~report contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. NVCN’s actual results could differ materially from those set forth on the forward looking statements as a result of the risks set forth in NVCN Corporation’s filings with the Securities and Exchange Commission, general economic conditions, and changes in the assumptions used in making such forward looking statements.

~~The Company follows Accounting Standards Codification 740, Accounting for Income Taxes.~~ OVERVIEW

~~Under~~NVCN ~~section~~Corporation ~~382 of~~ (the ~~Internal~~Company) ~~Revenue~~was ~~Code~~incorporated ~~such a change~~ in ~~control~~the ~~negates~~State ~~much~~ of ~~the~~Delaware ~~tax~~on ~~loss~~April ~~carry~~20, ~~forward~~1981, ~~and~~with ~~deferred income tax. Deferred income taxes reflect~~ the ~~net~~name ~~tax~~Cardio-Pace ~~effects~~Medical, ofInc. On ~~(a)~~November ~~temporary~~24, ~~differences~~1987, ~~between~~ the ~~carrying~~Company’s ~~amounts~~name ofwas ~~assets~~changed ~~and~~to ~~liabilities~~Novacon ~~for financial reporting purposes and the amounts used for income tax reporting purposes~~Corporation, and ~~(b)~~on ~~net~~February ~~operating loss carry forwards. For federal income tax purposes~~20, ~~the Company uses the accrual basis of accounting~~2001, the ~~same~~name ~~that~~was ischanged ~~used~~to ~~for~~NVCN ~~financial reporting purposes~~Corporation.

~~NOTE~~The 7:Company was incorporated in 1981 with authorized capital of 15,000,000 common shares with a par value of $0.01. On February 14, 2001, the shareholders of the Company approved (and on June 20, 2002, the Company effected) a 1 for 12 reverse common stock split, a reduction of common stock par value from $0.01 to $0.001, an increase of authorized capital to 50,000,000 common shares and authorized the board of directors to issue preferred shares of which 10,000,000 with a par value of $0.01 were authorized. The accompanying financial statements reflect all share data based on the 1 for 12 reverse common stock split basis.

~~COMMITMENTS~~The ~~AND~~Company ~~CONTINGENCIES~~was engaged in the business of assembling and distributing disposable drug infusion pumps designed for hospital and home pain management applications, under an exclusive United States manufacturing and marketing agreement with the purported Japanese developer of the proprietary technology. In the second quarter of 2000, the Company discontinued its business operations and since that date has remained inactive.

InRESULTS ~~December~~OF 2003, the Company executed an agreement with its stock transfer agent to settle all past outstanding obligations for $8,000. The payment was subsequently made in January 2004 per the terms of the agreement. As part of the settlement, the Company entered into an agreement to retain the stock transfer agent through December 2006 at the mutually agreed rate of $625 per month. As of February 28, 2011the Company has an outstanding balance of $ 23,013 with the stock transfer agent.OPERATIONS

9During the three month period ending August 31, 2011 and 2010 the Company had no revenues. General and Administrative expense totaled $12,520 for the three months ending August 31, 2011 compared to $12,620 for the same period in 2010. Interest expense was $717 for the three months periods ending August 31, 2011 and $1,764 for the same period in 2010. Net loss of the period was $13,237 for August 31, 2011 and $14,384 for 2010. The loss was a result of no revenue and during both 2011 and 2010 along with administrative expenses and interest.

~~ITEM~~LIQUIDITY ~~2: MANAGEMENTS DISCUSSION~~ AND ~~ANALYSIS~~CAPITAL RESOURCES

~~This~~At ~~report~~August ~~contains~~31, ~~forward~~2011, ~~looking statements within~~ the ~~meaning~~Company ofhad ~~Section~~$15,008 ~~27A~~in ofcurrent ~~the~~assets ~~Securities~~and ~~Act~~current liabilities of ~~1933~~$235,935, asresulting ~~amended~~in ~~and~~working ~~Section~~capital ~~21E~~deficit of ~~the~~$220,927. Shareholders' ~~Securities~~deficit ~~Exchange~~as ~~Act~~ of ~~1934~~August 31, as2011 ~~amended~~was $220,907. ~~NVCN’s~~Except ~~actual~~for ~~results~~funds ~~could~~of ~~differ~~$310 ~~materially~~advanced ~~from~~by ~~those~~a ~~set~~related ~~forth~~party onthere ~~the~~exist ~~forward~~no ~~looking~~agreements ~~statements~~or asunderstandings awith ~~result~~regard ofto ~~the~~loan ~~risks~~agreements ~~set~~by ~~forth~~or ~~in NVCN Corporation’s filings~~ with the ~~Securities~~Officers, ~~and Exchange Commission~~Directors, ~~general economic conditions~~principals, ~~and~~affiliates ~~changes~~or inshareholders of the ~~assumptions used in making such forward looking statements~~Company..

~~OVERVIEW~~Net cash used in operations for the period ending August 31, 2011 was $20 compared to cash used of $23,790 for the same period in 2010, a decrease of $23,770. Net cash used in investing activities for the period ending August 31, 2011 was zero as well as for the same period in 2010. Net cash provided by financing activities during the period ended August 31, 2011 was zero compared to net cash provided of $24,000 in 2010, an increase of $24,000. Financing activity increase consisted primarily of issuance of notes payable.

~~NVCN~~Our ~~Corporation~~existing (capital may not be sufficient to meet the Company)’s ~~was~~cash ~~incorporated~~needs, inincluding the ~~State~~costs of ~~Delaware~~compliance onwith ~~April~~the ~~20,~~continuing ~~1981,~~reporting ~~with~~requirements of the ~~name~~Securities ~~Cardio-Pace~~Exchange ~~Medical~~Act of 1934, ~~Inc~~as amended. On This ~~November~~condition ~~24,~~raises ~~1987,~~substantial doubt as to the Company’s ~~name~~ability ~~was~~to ~~changed~~continue toas ~~Novacon~~a ~~Corporation,~~going ~~and~~concern. onThe ~~February~~financial ~~20,~~statements ~~2001,~~do ~~the~~not ~~name~~include ~~was~~any ~~changed~~adjustments tothat might be necessary if NVCN ~~Corporation~~is unable to continue as a going concern.

The Company was incorporated in 1981 with authorized capital of 15,000,000 common shares with a par value of $0.01. On February 14, 2001, the shareholders of the Company approved (and on June 20, 2002, the Company effected) a 1 for 12 reverse common stock split, a reduction of common stock par value from $0.01 to $0.001, an increase of authorized capital to 50,000,000 common shares and authorized the board of directors to issue preferred shares of which 10~~,000,000 with a par value of $0.01 were authorized. The accompanying financial statements reflect all share data based on the 1 for 12 reverse common stock split basis.~~

The Company was engaged in the business of assembling and distributing disposable drug infusion pumps designed for hospital and home pain management applications, under an exclusive United States manufacturing and marketing agreement with the purported Japanese developer of the proprietary technology. In the second quarter of 2000, the Company discontinued its business operations and since that date has remained inactive.EMPLOYEES

~~RESULTS~~As OFof ~~OPERATIONS~~August 31, 2011 the Company had no employees

~~During~~CAPITAL the three and nine month periods ending February 28, 2011 and 2010 the Company had no revenues. General and Administrative expense totaled $ 33,955 for the three months and $61,744 for the nine months ending February 28, 2011 compared to $12,500 and $37,430 for the same periods in 2010. Interest expense was $1,334 for the three months periods and $3,374 for the nine months ending February 28, 2011 compared to $24,651 and $73,634 for the same period in 2010. The reduction in interest expense was due primarily to no interest charged this year verses last year against the judgment that was eliminated as of May 31, 2010. Net loss of the three month period was $35,289 and for the nine month period $64,118 for February 28, 2011 compared to $37,151 and $111,064 for the same periods in 2010. The loss was a result of no revenue during both 2011and 2010 along with administrative expenses and interest.EXPENDITURES

~~LIQUIDITY~~There ~~AND~~were ~~CAPITAL~~no ~~RESOURCES~~capital expenditures during the quarter ended August 31, 2011.

AtITEM ~~February~~3: QUANTITATIVE ~~28,~~AND ~~2011,~~QUALITATIVE ~~the~~DISCLOSUREES ~~Company~~ABOUT ~~had~~MARKET assets of $15,029 and current liabilities of $198,870, resulting in working capital deficit of $183,841. Shareholders' deficit as of February 28, 2011 was $183,841. Except for funds of $300 advanced by a related party there exist no agreements or understandings with regard to loan agreements by or with the Officers, Directors, principals, affiliates or shareholders of the Company.RISK

As a “smaller reporting company” as defined by Item 10 of Regulation S-K NVCN is not required to provide information required under this Item.

~~Net~~ITEM ~~cash~~4T: CONTROLS ~~used~~AND in operations for the period ending February 28, 2011 was $50,938 compared to cash used of $24,030 for the same period in 2010, a decrease of $26,908. Net cash used in investing activities for the period ending February 28, 2011 was $15,000 and zero for the same period in 2010. Net cash provided by financing activities during the period ended February 28, 2011 was $65,950 compared to $24,074 in 2010, an increase of $41,903.PROCEDURES

~~Our~~Evaluation ~~existing capital may not be sufficient to meet the Company’s cash needs, including the costs~~ of ~~compliance~~Disclosure ~~with~~Controls ~~the~~and continuing reporting requirements of the Securities Exchange Act of 1934, as amended. This condition raises substantial doubt as to the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might be necessary if NVCN is unable to continue as a going concern. Procedures

~~EMPLOYEES~~Based on their evaluation of our disclosure controls and procedures(as defined in Rule 13a-15e under the Securities Exchange Act of 1934 the "Exchange Act"), our principal executive officer and principal financial officer have concluded that as of the end of the period covered by this quarterly report on Form 10-Q such disclosure controls and procedures were not effective to ensure that information required to be disclosed by us in reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission rules and forms because of the identification of a material weakness in our internal control over financial reporting which we view as an integral part of our disclosure controls and procedures. The material weakness relates to the lack of segregation of duties in financial reporting, as our financial reporting and all accounting functions are performed by an external consultant with no oversight by a professional with accounting expertise. Our CEO/CFO does not possess accounting expertise and our company does not have an audit committee. This weakness is due to the company’s lack of working capital to hire additional staff. To remedy this material weakness, we intend to engage another accountant to assist with financial reporting as soon as our finances will allow.

AsChanges ofin ~~February~~Internal ~~28,~~Control ~~2011~~over ~~the~~Financial ~~Company had no employees~~Reporting

~~CAPITAL~~Except ~~EXPENDITURES~~as noted above, there have been no changes in our internal control over financial reporting identified in connection with the evaluation required by paragraph (d) of Exchange Act Rules 13a-15 or 15d-15 that occurred during our first quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting

~~There were no capital expenditures during the quarter ended February 28, 2011.~~11

~~ITEM~~PART 3:II ~~QUANTITATIVE~~– ~~AND~~OTHER ~~QUALITATIVE DISCLOSUREES ABOUT MARKET RISK~~INFORMATION

AsITEM a1: LEGAL ~~“smaller reporting company” as defined by Item 10 of Regulation S-K NVCN is not required to provide information required under this Item.~~ PROCEEDINGS

~~ITEM 4T: CONTROLS AND PROCEDURES~~None

~~Evaluation~~ITEM of1A: RISK ~~Disclosure Controls and Procedures~~FACTORS.

~~Based~~There on their evaluation of our disclosure controls and procedures(as defined in Rule 13a-15e under the Securities Exchange Act of 1934 the "Exchange Act"), our principal executive officer and principal financial officer have ~~concluded~~been ~~that~~no asmaterial ofchanges ~~the end of the period covered by this quarterly report on Form 10-Q such disclosure controls and procedures were not effective~~ to ~~ensure~~NVCN’s ~~that~~risk ~~information~~factors ~~required~~as topreviously be disclosed ~~by us~~ in reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission rules and forms because of the identification of a material weakness in our ~~internal~~most ~~control~~recent ~~over~~10-K ~~financial~~filing ~~reporting~~for ~~which we view as an integral part of our disclosure controls and procedures. The material weakness relates to~~ the ~~lack~~year ofending ~~segregation~~May ~~of duties in financial reporting~~31, ~~as our financial reporting and all accounting functions are performed by an external consultant with no oversight by a professional with accounting expertise~~2011. Our CEO/CFO does not possess accounting expertise and our company does not have an audit committee. This weakness is due to the company’s lack of working capital to hire additional staff. To remedy this material weakness, we intend to engage another accountant to assist with financial reporting as soon as our finances will allow.

~~Changes~~ITEM in2: UNREGISTERED ~~Internal~~SALES ~~Control~~OF ~~over~~EQUITY ~~Financial~~SECURITIES ~~Reporting~~AND USE OF PROCEEDS

Except as noted above, there have been no changes in our internal control over financial reporting identified in connection with the evaluation required by paragraph (d) of Exchange Act Rules 13a-15 or 15d-15 that None

11ITEM 3: DEFAULTS UPON SENIOR SECURITIES

~~occurred~~Not ~~during our first quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting~~Applicable.

~~PART~~ITEM II4: REMOVE –AND ~~OTHER INFORMATION~~ARESERVE

~~ITEM 1: LEGAL PROCEEDINGS~~None

~~None~~ITEM 5: OTHER INFORMATION.

~~ITEM 1A. RISK FACTORS.~~None

~~There~~ITEM ~~have~~6: EXHIBITS ~~been~~AND noREPORTS ~~material~~ON ~~changes~~FORM ~~to NVCN’s risk factors as previously disclosed in our most recent 10~~8-K ~~filing for the year ending May 31, 2010~~.

~~ITEM 2: CHANGES IN SECURITIES~~None

On January 24, 2011and February 10, 2011 the Company entered into agreements which provided for the Company to issue an aggregate of 12,800,000 restricted common shares for the purpose of extinguishing indebtedness of the Company:Exhibits

·Exhibits included or incorporated by reference herein are set forth in the attached Exhibit Index.

9,000,000 shares of restricted stock to 33 individuals to whom the company’s sole director had assigned his claim against the Company for accrued compensation with a value of $273,600 ($0.03-$0.05 per share)12

·SIGNATURE

~~1,333,334~~Pursuant ~~shares~~to ofthe ~~restricted~~requirements ~~common~~of ~~stock~~Section to13 ~~two~~or ~~individuals~~15(d) ~~for~~of ~~accounts payable~~the ~~with~~Securities aExchange ~~total value~~Act of ~~$40~~1934,~~000~~ ~~($0.03~~the ~~per~~Company ~~share)~~has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	NVCN Corporation.

Dated: October 12, 2011	By:	/s/ Gary Borglund
		Gary Borglund
		Principal Executive Officer and Principal Financial Officer

~~2,466,666 of restricted common stock to five individuals for the conversion of debt valued at $86,000 ($0.03-0.05 per share)~~13

~~ITEM~~EXHIBIT ~~3: DEFAULTS UPON SENIOR SECURITIES~~INDEX

Not Applicable.

Number		Description

31		Rule 13a-14(a)/15d-14(a) Certification of Gary Borglund (filed herewith).

32		Section 1350 Certification of Gary Borglund (filed herewith).

ITEM 4: [REMOVED AND RESERVED]

101.INS **		XBRL Instance Document

101.SCH **		XBRL Taxonomy Extension Schema Document

101.CAL **		XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF **		XBRL Taxonomy Extension Definition Linkbase Document

101.LAB **		XBRL Taxonomy Extension Label Linkbase Document

101.PRE **		XBRL Taxonomy Extension Presentation Linkbase Document

~~ITEM~~** 5.XBRL ~~OTHER~~(Extensible ~~INFORMATION~~Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

~~None~~14

ITEM 6: EXHIBITS AND REPORTS ON FORM 8-K.

Exhibits

Exhibits included or incorporated by reference herein are set forth in the attached Exhibit Index.

SIGNATURE

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

NVCN Corporation.

Dated: April 22, 2011

by: /s/ Gary Borglund

Gary Borglund, Principal Executive Officer

and Principal Financial Officer

EXHIBIT INDEX

Number	Description
31	Rule 13a-14(a)/15d-14(a) Certification of Gary Borglund (filed herewith).
32	Section 1350 Certification of Gary Borglund (filed herewith).

Filing Compare · NVCN CORP