Company: PETVW
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001641172-25-018617
Chunk: 46

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 1
Chunk 46
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,289
of work in process and $334,345 in raw material.

MATERIAL
COMMITMENTS

Convertible
Notes Payable and Accrued Interest

As
of March 31, 2025, we are obligated to notes and accrued interest of $2,090,328.

OFF-BALANCE
SHEET ARRANGEMENTS

As
of March 31, 2025, and as of the date of this Annual Report, we do not have any off-balance sheet arrangements that have or are reasonably
likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of
operations, liquidity, capital expenditures or capital resources that are material to investors.

GOING
CONCERN

The
independent auditors’ report accompanying our March 31, 2025, Form 10-K and financial statements contains an explanatory paragraph
expressing substantial doubt about our ability to continue as a going concern. The financial statements have been prepared assuming that
we will continue as a going concern, which contemplates that we will realize our assets and satisfy our liabilities and commitments in
the ordinary course of business. 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. Our
working capital at March 31, 2025 was $1,591,212.

CRITICAL
ACCOUNTING POLICIES

We
prepare our consolidated financial statements in accordance with generally accepted accounting standards in the United States of America.
Our significant accounting policies are described in Note 1 to our consolidated financial statements attached hereto. We believe the
following critical accounting policies involve the most significant judgments and estimates used in the preparation of the consolidated
financial statements.

30

RECENTLY
ISSUED ACCOUNTING STANDARDS

The
Company has reviewed the FASB issued ASU accounting pronouncements and interpretations thereof that have effective dates during the periods
reported and in future periods. The Company has carefully considered the new pronouncements that alter previous generally accepted accounting
principles and do not believe that any new or modified principles will have a material impact on the Company’s reported financial
position or operations in the near term. The applicability of any standard is subject to formal review of the Company’s financial
management.

In
August