Company: PETVW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001493152-25-011967
Chunk: 15

Company: PetVivo Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 consolidated financial statements but did change
how the allowance for credit losses is determined.

In
November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires
public entities to disclose significant segment expenses and other segment items on an interim and annual basis and provide in interim
periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. The ASU does
not change how a public entity identifies its operating segments, aggregates them, or applies the quantitative threshold to determine
its reportable segments. The new disclosure requirements are also applicable to entities that account and report as a single operating
segment entity. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years
beginning after December 15, 2024. The Company adopted the guidance for the annual reporting period ended March 31, 2025. There was no
impact on the Company’s reportable segments identified.

    12

NOTE
2 – INVENTORY

Inventory
consists of the following at June 30, 2025, and March 31, 2025:

The
inventory components are as follows:

 SCHEDULE OF INVENTORY

    June
    30, 2025  
    March
    31, 2025 
  
    Finished Goods 
    $265,058  
    $21,782 
  
    Work in process 
     18,275  
     41,540 
  
    Raw materials 
     246,009  
     260,182 
  
    Total
    Net 
    $529,342  
    $323,504 

NOTE
3 – PREPAID EXPENSES AND OTHER CURRENT ASSETS

As
of June 30, 2025, the Company had $391,725 in prepaid expenses and other current assets consisting primarily of $197,000 of supplier
advance, $47,000 in insurance costs, $43,000 in software subscription fees, $32,000 in investor relations, $32,000 in Nasdaq and FINRA
fees, and $29,000 in trade shows.

As
of March 31, 2025, the Company had $447,801 in prepaid expenses and other current assets consisting primarily of $195,000 of supplier
advance