Company: PETVW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001493152-25-011967
Chunk: 58

Company: PetVivo Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 58
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CL model, the Company is required to present certain financial assets carried
at amortized cost, such as accounts receivable, at the net amount expected to be collected. The measurement of expected credit losses
is based on information about past events, including historical experience, current conditions, and reasonable and supportable forecasts
that affect the collectability of the reported amount. The Company adopted this standard in the consolidated financial statements for
the year ended March 31, 2025. The change had no impact on the Company’s financial statements.

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic
280): Improvements to Reportable Segment Disclosures, which requires public entities to disclose significant segment expenses and other
segment items on an interim and annual basis and provide in interim periods all disclosures about a reportable segment’s profit
or loss and assets that are currently required annually. The ASU does not change how a public entity identifies its operating segments,
aggregates them, or applies the quantitative threshold to determine its reportable segments. The new disclosure requirements are also
applicable to entities that account and report as a single operating segment entity. ASU 2023-07 is effective for fiscal years beginning
after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024. The Company adopted the guidance
for the annual reporting period ended March 31, 2025. There was no impact on the Company’s reportable segments identified.

All
other newly issued but not yet effective accounting pronouncements have been deemed either immaterial or not applicable.

ITEM
3. QUALITATIVE AND QUANTITATIVE DISCLOSURES ABOUT MARKET RISK

Not
required

ITEM
4. CONTROLS AND PROCEDURES

DISCLOSURE
CONTROLS AND PROCEDURES

Evaluation
of Disclosure Controls and Procedures

During
the quarter, the Company’s management performed an evaluation, under the supervision and with the participation of the Company’s
Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”), of the effectiveness of the design and operation
of the Company’s disclosure controls and procedures (as that term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities
Exchange Act of 1934, as amended (the “Exchange Act”)). The term “disclosure controls and procedures” means controls
and other procedures of a company that