Company: PETVW
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001641172-25-018617
Chunk: 137

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 1A
Chunk 137
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 our non-exclusive
agreement with MWI.

We
entered into a Distribution Agreement with Covetrus in December 2023. We generated 4% of our total revenues from Spryng®
products sold under the Distribution Agreement in the fiscal year ended March 31, 2025. In February 2025, we mutually terminated our
non-exclusive agreement with Covetrus.

If
our current sales and marketing program is insufficient or inadequate to support the current introduction of our Spryng®
product, we may not be able to sell this product in quantities to become commercially successful.

We
commenced sales of Spryng® in the second quarter of fiscal 2022 and plan to increase our commercialization efforts for
Spryng® in the United States through our direct sales to veterinarians and our distributorship relationships with MWI
and Covetrus. There are significant risks involved in our building and managing an effective sales and marketing program, including our
ability to manage and support our distribution relationship with MWI and Covetrus, our ability to hire, adequately train, maintain, and
motivate qualified sales representatives for direct sales and to support our sales to MWI and Covetrus, to generate sufficient sales
leads and other contacts, and establish effective product distribution channels. Any failure or substantial delay in the development
of our internal sales and marketing program and distribution capabilities would adversely impact our business and financial condition.

Our
business will depend significantly on the sufficiency and effectiveness of our marketing and product promotional programs and incentives.

Due
to the highly competitive nature of our industry, we must effectively and efficiently promote and market our products through the Internet,
television and print advertising, social media, and through trade promotions and other incentives to sustain and improve our competitive
position in our market. Moreover, from time to time we may have to change our marketing strategies and spending allocations based on
responses from our veterinarian customers and pet owners. If our marketing, advertising, and trade promotions are not successful to create
and sustain consistent revenue growth or fail to respond to marketing strategy changes in our industry, our business, financial condition,
and results of operations may be adversely affected.

Any
damage to our reputation or our brand may materially harm our business.

Developing,
maintaining, and expanding our reputation and brand with veterinarians, pet owners, and others will be critical to our success. Our brand
may suffer if our marketing plans or product initiatives are unsuccessful. The importance of our brand and demand for our