Company: PETVW
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001641172-25-018617
Chunk: 99

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 1
Chunk 99
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 2019-10
and other subsequently issued related ASUs. The amendments in this Update affect loans, debt securities, trade receivables, and any other
financial assets that have the contractual right to receive cash. The ASU requires an entity to recognize expected credit losses rather
than losses incurred for financial assets. The amendments in this Update are effective for fiscal years beginning after December 15, 2022,
including interim periods within those fiscal years. The Company adopted this new guidance effective January 1, 2023 utilizing the modified
retrospective transition method. The adoption of this standard did not have a material impact on the Company’s 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.

NOTE
2 – RECLASSIFICATION OF PRIOR YEAR PRESENTATION

Reclassification.
Certain prior period amounts have been reclassified to conform to current period presentation.

Certain
prior year research and development costs have been reclassified from costs of sales to research and development operating expense
for consistency with the current year presentation in the Consolidated Statements of Operations. There were no reclassifications made
to the Consolidated Balance Sheets, Consolidated Statements of Changes in Stockholders’ Equity or Consolidated Statements of
Cash Flows.

    F-12

NOTE
3 – INVENTORY

Inventory
consists of the following at March 31, 2025 and March 31, 2024:

 SCHEDULE OF INVENTORY

     2025