Company: PETVW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006783
Chunk: 46

Company: PetVivo Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 46
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 ended December 31, 2024 and 2023, respectively. Revenues in
the three months ended December 31, 2024, consist of sales of our Spryng™ products to our Distributors of $544,517 and to veterinary
clinics in the amount of $38,796. Revenues in the three months ended December 31, 2023, consist of sales of our Spryng™ products
to our Distributors of $546,626 and to veterinary clinics in the amount of $49,265.

30

Cost
of Sales. Cost of sales were $61,497 and $62,569 for the three months ended December 31, 2024 and 2023, respectively. Cost of
sales includes product costs related to the sale of our Spryng™ products and labor and overhead costs. Cost of sales in the three
months ended December 31, 2024, compared to the three months ended December 31, 2023 remained constant.

Operating
Expenses. Operating expenses were $2,280,221 and $2,666,946 for the three months ended December 31, 2024 and 2023, respectively.
The decrease is primarily due to decreased general and administrative (“G&A”) expenses and sales and marketing expenses
related to the sale of our Spryng™ products.

General
and administrative (“G&A”) expenses were $1,184,807 and $1,282,787 for the three months ended December 31, 2024 and 2023,
respectively. General and administrative expenses include compensation and benefits, contracted services, legal and consulting fees,
and stock compensation expense.

Sales
and marketing expenses were $723,461 and $1,032,575 for the three months ended December 31, 2024 and 2023, respectively. Sales and marketing
expenses include compensation, consulting, tradeshows, and stock compensation costs to support the launch of our Spryng™ product.

Research
and development (“R&D”) expenses were $371,953 and $231,066 for the three months ended December 31, 2024 and 2023, respectively.
The increase was related to clinical studies and efforts to support the launch of Spryng™.

Operating
Loss. As a result of the foregoing, our operating loss was $1,758,405 and $2,133,624 for the three months ended December 31,
2024 and 202