Company: PETVW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023398
Chunk: 10

Company: PetVivo Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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ANT ACCOUNTING POLICIES AND ORGANIZATION

(A)
Organization and Description

PetVivo
Holdings, Inc. was incorporated in Nevada under its former name in 2009 and entered its current business in 2014 through a stock exchange
reverse merger with PetVivo, Inc., a Minnesota corporation. This merger resulted in PetVivo, Inc. becoming a wholly owned subsidiary
of PetVivo Holdings, Inc. In April 2017, PetVivo Holdings, Inc. acquired another Minnesota corporation, Gel-Del Technologies, Inc., through
a statutory merger, which is also a wholly-owned subsidiary of PetVivo Holdings, Inc. In April 2025, PetVivo Holdings, Inc. changed the
name of its wholly-owned subsidiary PetVivo, Inc. to PetVivo Animal Health, Inc. to better reflect the industry in which PetVivo Holdings,
Inc. sells its products

The
Company is in the business of licensing and commercializing our proprietary medical devices and biomaterials for the treatment and/or
management of afflictions and diseases in animals, initially for dogs and horses. The Company began commercialization of its lead product
Spryng® with OsteoCushion® Technology, a veterinarian-administered, intraarticular injection for the management of lameness and
other joint afflictions such as osteoarthritis in dogs and horses in September 2021. The Company has a pipeline of additional products
for the treatment of animals in various stages of development. A portfolio of nineteen patents protects the Company’s biomaterials,
products, production processes and methods of use. In February 2025, The Company signed an exclusive licensing agreement with VetStem,
Inc. to market and sell their PrecisePRP™ (Platelet-Rich Plasma) product for both canine and equine. Revenues are expected
in fiscal year 2026. The Company’s operations are conducted from its headquarter facilities in suburban Minneapolis, Minnesota.

(B)
Basis of Presentation

The
accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted
in the United States of America (“US GAAP”) for interim financial reporting and pursuant to the rules and regulations of
the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required
by GAAP for complete financial statements. In the opinion of management, all adjustments (including those which are normal and recurring)
considered