Company: PETVW
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001641172-25-018617
Chunk: 1046

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 8
Chunk 1046
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 following legal
advice, a total of $66,075 and
$385,874
of these payables were extinguished from the Company’s balance sheets at March 31, 2025 and 2024, respectively and the gain on
extinguishment of debt was included in other income on the Consolidated Statement of Operations.

NOTE
9 – NOTES PAYABLE AND ACCRUED INTEREST

In
January 2020, the Company entered into a lease amendment for our corporate office facility whereby the lease term was extended through
November of 2026 in exchange for a loan of $42,500. The note payable accrues interest at a rate of 6% per annum. As of March 31, 2025 and
2024, the amount outstanding on the note was $13,244 and $20,528, respectively. As of March 31, 2025, the Company classified $7,802 as a
current liability and $5,442 in other liabilities. As of March 31, 2024, the Company classified $7,356 as a current liability and $13,171
in other liabilities.

On December 20, 2024, the Company entered into a promissory note for $100,000. The note accrued interest at a rate of 12% per annum. The
entire unpaid principal balance, together with interest, shall be due and payable in full on or before the 20th day of June 2025, with
an amended maturity date of December 31, 2025. On March 3, 2025, the Company entered into another promissory note for an additional $200,000
with the same terms. The entire unpaid principal balance, together with interest, shall be due and payable in full on or before the 3rd
day of September 3, 2025.

The
total non-convertible notes payables, including accrued interest, for these three notes for the year ended March 31, 2025 totals $318,307
consisting of $312,865 current portion with the long-term portion in other liabilities of $5,442, and for the year ended March 31, 2024
totals $20,415 consisting of $7,244 current portion with the long-term portion in other liabilities of $13,171.

These
note payments for the next five years are as follows: 2026 through 2030 is $312