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

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 1
Chunk 10
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 Veterinary Supply, Inc., or Victor Medical Company
as their preferred distributor. Combined, these top-tier distributors sell more than 85%, by revenue, of the products sold to companion
animal veterinarians in the U.S. Covetrus, Patterson, and MWI are recognized by manufacturers, distributors, and veterinarians as the
pre-eminent national companion animal veterinary supply distributors in the US. There are no other distributors that provide equivalent
levels of service to manufacturers and regularly visit veterinarians in as wide a geographic area as Covetrus, Patterson or MWI. Midwest
and Victor are large, regional distributors. The above data in this paragraph was sourced from File No. 101 0023 at the U.S. Federal
Trade Commission.

We
commenced sales of Spryng® in the second quarter of fiscal 2022 and plan to increase our commercialization efforts of
Spryng® in the United States through our distribution relationship with MWI Veterinary Supply Co. (“Distributor”
or “MWI”) and the use of sales reps, clinical studies, and market awareness to educate and inform key opinion leaders on
the benefits of Spryng®.

We
entered into a Distribution Services Agreement (“Distribution Agreement”) with MWI on June 17, 2022. Pursuant to the Agreement,
we appointed MWI to distribute, advertise, promote, market, supply, and sell the Company’s lead product, Spryng®
on an exclusive basis for two (2) years within the United States (the “Territory”), transitioning to a non-exclusive basis
thereafter; provided however that the Company shall extend the exclusivity for an additional one (1) year if MWI achieves certain performance
targets agreed upon by the parties. The Company can continue to sell Spryng® within the Territory to established accounts,
which include: (a) customers who have purchased Spryng® from the Company prior to the date of the Agreement, (b) customers
who require that they deal directly with the Company, (c) governmental agencies, and (d) customers that order via the internet who are
not directly solicited by MWI to purchase Spryng®. All customers must be licensed veterinary practices. In March 2025,
we mutually terminated our non-exclusive distribution agreement with MWI.

We
entered into a Distribution Services Agreement (the “Agreement”) with Covetrus on December 18, 2023. Pursuant to the Agreement,
we appointed Covetr