Company: PETVW
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001641172-25-018617
Chunk: 194

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 1A
Chunk 194
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 procedures that respond to those
risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial
statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as
evaluating the overall presentation of the consolidated financial statements. We believe that our audit provides a reasonable basis for
our opinion.

/s/ Stephano Slack LLC (PCAOB ID # 003523)

We have served as the Company’s auditor since 2025.

Wayne, Pennsylvania

July 10, 2025

F-2

REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To
the Board of Directors and

Stockholders
of Petvivo Holdings, Inc.

Opinion
on the Consolidated Financial Statements

We
have audited the accompanying consolidated balance sheets of Petvivo Holdings, Inc. (the Company) as of March 31, 2024 and 2023, and
the related consolidated statements of operations, changes in stockholders’ equity and cash flows for each of the years in the
two year period ended March 31, 2024, and the related notes (collectively referred to as the “consolidated financial statements”).
In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company
as of March 31, 2024 and 2023, and the results of its operations and its cash flows for each of the two years in the period ended March
31, 2024, in conformity with accounting principles generally accepted in the United States of America.

Explanatory
Paragraph- Going Concern

The
accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed
in Note 10 to the consolidated financial statements, the Company has suffered recurring losses. For the year ended March 31, 2024, the
Company had a net loss of $10,955,295 and net cash used in operating activities of $7,419,588; and as of March 31, 2024 an accumulated
deficit of $82,799,324. These factors raise substantial doubt about the Company’s ability to continue as a going concern. Management’s
plans in regard to these matters are also described in Note 10. The consolidated financial statements do not include any adjustments
that might result from the outcome of this uncertainty.

Basis
for Opinion