Company: PETVW
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001641172-25-018617
Chunk: 1316

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 9B
Chunk 1316
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 connection with the sale of stock in exchange for proceeds of $290,000. 
  
    xvi)
    In January 2024, 1,386,469
    shares were sold through the sale of stock in exchange for proceeds of $1,247,819;
  
    xvii)
    During January through
    March 2024, 109,834 shares were issued related to vesting of RSUs;
  
    xviii)
    During January through
    March 2024, 324,000 shares were issued to service providers for consulting services valued at market on the date of grant of $423,216;
  
    xix)
    In February 2024, 164,340
    shares were issued in connection with the conversion of a convertible note in totaling $123,255 including $3,255 of accrued interest
    at a price of $.75 per share;
  
    xx)
    During February 2024, 152,768
    shares were sold in connection with the sale of stock in exchange for proceeds of $1,247,819.

The
Company has issued shares of common stock to providers of consulting services which are reported in the Consolidated Statements of Stockholders’
Equity. The value of these shares is reported as a prepaid expense and are amortized to expense over the contractual life of the respective
consulting agreements. The amortization of stock issued for services as reported in the Consolidated Statements of Cash Flows was $229,380
and $442,559 for the years ended March 31, 2025 and 2024, respectively.

Time-Based
Restricted Stock Units

We
have granted time-based restricted stock units to certain participants under the Amended Plan that are stock-settled with common shares.
Time-based restricted stock units granted under the Amended Plan vest over three years. Total stock-based compensation expense included
in the Consolidated Statements of Operations and Consolidated Statements of Cash Flows was $1,107,520 and $2,109,783 for the years ended
March 31, 2025, and 2024, respectively, of which time-based restricted stock units was $319,619 and $667,668 for the years ended March
31, 2025, and 2024, respectively. At March 31, 2025, there was approximately $112,000 of total unrecognized pre-tax compensation expense
related to time-based restricted stock units that is expected to be recognized over a