Company: PETVW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001493152-25-011967
Chunk: 20

Company: PetVivo Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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31, 2025. From October 10, 2024, through
December 30, 2024, the Company entered into additional promissory notes totalling $650,000
with the same terms. The maturity dates of these notes were all amended with the amended maturity date of December 31, 2025. From
February 12, 2025, through March 13, 2025, the Company entered into additional promissory notes totalling $540,000
with the same terms. The maturity date on these notes were all amended with the amended maturity date of September 30, 2025. On June
10, 2025, the Company entered into an additional promissory note for $160,000
at a rate of 10%
per annum and a maturity date of December
31, 2025. This note included the issuance of 75,000 warrants, with a two-year term and a strike price of $0.75 per share. The
warrants were valued at $23,649 using the Black-Scholes option pricing model on the grant date. The fair value is required to be
recorded as a debt discount and amortized to interest expense over the term of the
note. The Company did not record the debt discount and related amortization in the three months ended June 30, 2025, as the amounts were
not considered material. The Company will record the debt discount and recognize the related amortization in the subsequent quarter.

On
December 20, 2024, the Company entered into a convertible promissory note for $25,000. The note accrued interest at a rate of 12% per
annum. The holder of the note has the option to convert the principal and accrued interest at a conversion price of the greater of: i)
the per Share price at which the Company sells Shares of the Company Common Stock in a Qualified Financing occurring on or before the
Maturity Date of this Note, or ii) Fifty Cents ($0.50) per Share (“Conversion Price”); each Share consists of one (1) share
of PetVivo Holdings, Inc. restricted common stock (“Common Stock”). The original maturity date was June 30, 2025, whereby
an amendment extended the maturity date to December 31, 2025.

    15

The
total convertible notes payables (reflected as current liability), including accrued interest, for these convertible notes