Company: PETVW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006783
Chunk: 50

Company: PetVivo Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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307 and was broken down into $11,950 of finished goods,
$53,935 of work in process, and $287,422 in raw materials.

At
March 31, 2024, the Company’s inventory had a carrying value of $390,076 and was broken down into $35,442 of finished goods, $20,289
of work in process, and $334,345 in raw materials.

MATERIAL
COMMITMENTS

Note
Payable

As
of December 31, 2024, we are obligated on a note and accrued interest of $15,113.

OFF-BALANCE
SHEET ARRANGEMENTS

As
of December 31, 2024, and as of the date of this Quarterly Report, we do not have any off-balance sheet arrangements that have or are
reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses,
results of operations, liquidity, capital expenditures or capital resources that are material to investors.

GOING
CONCERN

The
financial statements have been prepared assuming that we will continue as a going concern, which contemplates that we will realize our
assets and satisfy our liabilities and commitments in the ordinary course of business. Our working capital deficit at December 31, 2024
was $1,709,485. We have continued to realize losses from operations. We will need to raise additional capital in the future to support
our efforts to commercialize Spryng™ and our ongoing operations. We expect to continue to raise additional capital through the
sale of our securities from time to time for the foreseeable future to fund our business expansion. Our ability to obtain such additional
capital will likely be subject to various factors, including our overall business performance and market conditions. There can be no
guarantee that the Company will be successful in its ability to raise additional capital to fund its business plan.

CRITICAL
ACCOUNTING POLICIES

We
prepare our consolidated financial statements in accordance with generally accepted accounting standards in the United States of America.
Our significant accounting policies are described in Note 1 to our consolidated financial statements attached hereto. We believe the
following critical accounting policies involve the most significant judgments and estimates used in the preparation of the consolidated
financial statements.

RECENTLY
ISSUED ACCOUNTING STANDARDS

The
Company has reviewed the FASB issued ASU accounting pronouncements and interpretations thereof that have effective dates during the periods