Company: PETVW
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001641172-25-018617
Chunk: 500

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 3
Chunk 500
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 in effect when the differences are expected to reverse. A valuation allowance is provided when it is more likely than not that
some portion or all of a deferred tax asset will not be realized. As required by FASB ASC 450, the Company recognizes the financial
statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the
position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial
statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the
relevant tax authority.

The
Company is not currently under examination by any federal or state jurisdiction.

The
Company’s policy is to record tax-related interest and penalties as a component of operating expenses.

(Q)
Recently Issued Accounting Pronouncements

In June 2016, the FASB issued Accounting Standards Update (“ASU”) No. 2016-13, Financial
Instruments – Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments, as modified by FASB ASU No. 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