Company: PETVW
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001641172-25-018617
Chunk: 866

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 7
Chunk 866
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 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 expenses during the reporting period. Actual results could differ from those estimates.
Significant estimates include allowance for credit losses, inventory obsolescence, estimated useful lives and potential impairment
of property and equipment and intangibles, estimate of fair value of share-based payments, distributor rebate payable, provision for
product returns, right of use lease assets and liabilities and valuation of deferred tax assets.

(E)
Cash and Cash Equivalents

The
Company considers all highly-liquid, temporary cash investments with original maturity of three months or less to be cash equivalents.
The Company had no cash equivalents at March 31, 2025 and 2024.

(F)
Concentration Risk

The
Company maintains its cash with various financial institutions, which at times may exceed federally insured limits. At March 31, 2025
and 2024, the Company did not have cash balances in excess of the federally insured limits.

    F-8

(G)
Accounts Receivable

Accounts receivable is carried at their contractual amounts, less an estimated allowance for credit losses. Management
estimates the allowance for credit losses using a loss-rate approach based on historical loss information, adjusted for management’s
expectations about current and future economic conditions, as the basis to determine expected credit losses. Management exercises significant
judgment in determining expected credit losses. Key inputs include macroeconomic factors, industry trends, the creditworthiness of counterparties,
historical experience, the financial conditions of the customers, and the amount and age of past due accounts. Management believes that
the composition of receivables at year-end is consistent with historical conditions as credit terms and practices and the client base
has not changed significantly. Receivables are considered past due if full payment is not received by the contractual due date. Past due
accounts are generally written off against the allowance for credit losses only after all collection attempts have been exhausted. As
of March 31, 2025 and 2024, the Company had not recorded an allowance for credit losses, as management determined that no reserve was
necessary based on its assessment of the collectability of outstanding balances and the credit quality of