Imricor Medical Systems (ASX:IMR) reported a total revenue of $132,000 for the March quarter, with its consumables revenue of $104,000 up 385% year-over-year, according to a Wednesday Australian bourse filing.

The firm reported net cash inflows from financing activities of $43 million in the March quarter, comprising net proceeds from the completion of the placement. Meanwhile, its net cash outflows from operating activities came in at $4.6 million.

It also established Imricor BV, a wholly-owned subsidiary in the Netherlands, during the quarter. It hired the first capital sales managers in the US in preparation for a US commercial launch.

On April 10, the first-in-man ventricular ablation guided by real-time interventional cardiac magnetic resonance was performed at the Amsterdam University Medical Centre.

Its shares rose 5% in recent trading on Wednesday.