Company: PETVW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001493152-25-011967
Chunk: 28

Company: PetVivo Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 2025, these agreements contain severance benefits ranging
from one month to six months if terminated without cause.

NOTE
12 – GOING CONCERN

The
accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States
of America, which contemplate continuation of the Company as a going concern.

The
Company incurred a net loss $2,311,037 for the three months ended June 30, 2025, had net cash used in operating activities of $1,633,755
for the same period, and has an accumulated deficit of $93,538,130 on June 30, 2025. These conditions raise substantial doubt about the
Company’s ability to continue as a going concern for a period of at least twelve months after the date of issuance of these financial
statements. In view of these matters, the Company’s ability to continue as a going concern is dependent upon the Company’s
ability to achieve a level of profitability and/or to obtain adequate financing through the issuance of debt or equity in order to finance
its operations.

Management
believes that the actions presently being taken to further implement its business plan will enable the Company to continue as a going
concern. While the Company believes in its ability to raise additional funds, there can be no assurances to that effect. The ability
of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan and
raise additional funds.

These
financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

NOTE
13 – STOCKHOLDERS’ EQUITY

Equity
Incentive Plan

On
July 10, 2020, our Board of Directors unanimously approved the PetVivo Holdings, Inc. 2020 Equity Incentive Plan (the “2020 Plan”),
which authorized the issuance of up to 1,000,000 shares of our common stock as awards under the 2020 Plan, subject to approval by our
stockholders at the Annual Meeting of Stockholders held on September 22, 2020, when it was approved by our stockholders and became effective.
On October 14, 2022, the stockholders of the Company approved the PetVivo Holdings, Inc. Amended and Restated 2020 Equity Incentive Plan
(the “Amended Plan”), which increased the number of shares of the Company’s common stock which may