Company: PETVW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001493152-25-011967
Chunk: 30

Company: PetVivo Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 equally in April, May and June 2025 to service providers for consulting services fair valued based on the market price on the date
    of grant of $40,420. The Company expensed these shares on a monthly basis.
  
    ii)
    82,657
    shares related to vesting of restricted stock units (“RSUs”), vesting in April and June 2025.
  
    iii)
    8,000
    shares in June 2025 in connection with the conversion of an outstanding accounts payable balance of $6,000
  
    iv)
    70,000
    shares in June 2025 in connection with the exercise of a warrant in exchange for proceeds of $140,000 at a price of $2.00 per share.

The Company has issued shares of common stock to providers of investor relations services. The value of these shares
is reported as a prepaid expense and are amortized to expense over the contractual life of the respective consulting agreements. The
amortization of stock issued for services was $40,420 and $176,273 for the three months ended June 30, 2025, and 2024, respectively.

Time-Based
Restricted Stock Units

The Company has granted time-based restricted stock units to certain participants under the 2020 Plan that are stock
settled with common shares. Time-based restricted stock units granted under the 2020 Plan vest over three years. Stock-based compensation
expense for time-based restricted stock units was $50,909 and $136,575 for the three months ended June 30, 2025, and 2024, respectively. As of June 30, 2025, there was approximately $61,000 of total unrecognized compensation expense related to time-based restricted stock units that is expected to be recognized
over a weighted-average period of one year.

    20

Time-based restricted stock unit activity for the three months ended June 30, 2025 was as follows:

 SCHEDULE OF TIME BASED RESTRICTED STOCK UNITS

    Units
                                                                                Outstanding  
    Weighted Average
                                            Grant Date
                                            Fair Value Per
                                            Unit  
    Aggregate
                                            Intrinsic
                                                                                Value
                                            (1) 
  
    Balance at March 31, 2025 
     205,314  
     0.58  
    $123,188 
  
    Vested 
     (92,814) 
     0.88