Company: PETVW
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001641172-25-018617
Chunk: 156

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 1A
Chunk 156
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 income of $42,000, an IRS payroll tax
refund from a prior year of $16,800, interest expense of ($362,4139) and unrealized loss on change in derivative liability of ($106,513), Other income in fiscal 2024 consisted of loss on
extinguishment of debt of ($534,366), settlement payment of ($180,000) to David Masters offset by the extinguishment of payables of
$386,874, and interest expense of ($6,463).

Net
Loss. Our net loss in fiscal 2025 was $8,399,166 or ($0.41) per share compared to a net loss $10,955,295 or ($0.78) per share
in fiscal 2024. The weighted average number of shares outstanding was 20,491,422 compared to 13,969,754 for fiscal 2025 and 2024, respectively.

LIQUIDITY
AND CAPITAL RESOURCES

On March 26, 2025, the Company entered into a Subscription Agreement for $5,000,000 in a Series B Preferred Offering, whereby
$600,000 was received, with the remaining $4,400,000 proceeds received in May and June 2025. As of March 31, 2025, our current
assets were $1,041,660 including $87,403 in cash and cash equivalents. In comparison, our current liabilities as of that date were
$1,362,369 including $1,014,259 of accounts payable and accrued expenses. Our working capital deficit as of March 31, 2024 was
$320,709.

The
Company has continued to realize losses from operations. However, as a result of our recent offerings, we believe we will have sufficient
cash to meet our anticipated operating costs and capital expenditure requirements for at least the next three months. 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.

29

Net
Cash Used in Operating Activities – We used $4,