Company: PETVW
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001641172-25-018617
Chunk: 1035

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 8
Chunk 1035
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 also a wholly-owned subsidiary of PetVivo Holdings, Inc. In April 2025, PetVivo
Holdings, Inc. changed the name of its wholly-owned subsidiary PetVivo, Inc. to PetVivo Animal Health, Inc. to better reflect the industry
in which PetVivo Holdings, Inc. sell our products.

The
Company is in the business of licensing and commercializing our proprietary medical devices and biomaterials for the treatment and/or
management of afflictions and diseases in animals, initially for dogs and horses. The Company began commercialization of its lead product
Spryng® with OsteoCushion® Technology, a veterinarian-administered, intraarticular injection for the management of lameness and
other joint afflictions such as osteoarthritis in dogs and horses in September 2021. The Company has a pipeline of additional products
for the treatment of animals in various stages of development. A portfolio of nineteen patents protects the Company’s biomaterials,
products, production processes and methods of use. In February 2025, The Company signed an exclusive licensing agreement with VetStem,
Inc. to market and sell their Precise PRP (Platelet-Rich Plasma) product for both canine and equine. Revenues are expected in fiscal
year 2026. The Company’s operations are conducted from its headquarter facilities in suburban Minneapolis, Minnesota.

(B)
Basis of Presentation

The accompanying consolidated financial statements are prepared in accordance
with accounting principles generally accepted in the United States of America (“US GAAP”) and pursuant to the rules and regulations
of the Securities and Exchange Commission (“SEC”).

(C)
Principles of Consolidation

The accompanying consolidated financial statements
include all the accounts of the PetVivo Holdings Inc., and and its two wholly-owned Minnesota corporations, Gel-Del Technologies, Inc.
and PetVivo Animal Health, Inc. (collectively, the “Company”). All intercompany transactions have been eliminated upon consolidation.

The Company is an emerging growth company as the term is used in The Jumpstart Our Business Startups Act, enacted
on April 5, 2021 and has elected to comply with certain reduced public company reporting requirements.

(D)
Use of Estimates

The preparation of the consolidated financial statements in conformity with generally accepted accounting principles, management is required to make estimates
and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at
the date of the financial statements and revenues and