Company: PETVW
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001641172-25-018617
Chunk: 757

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 6
Chunk 757
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 terms. In early 2023, Masters commenced arbitration
to have certain terms in the long form agreement decided. The arbitrator issued an award setting the final terms of the agreement.

In
September 2023, Masters executed the long-term agreement, and the Company recorded a settlement expense of $180,000. The settlement was
paid in October 2023.

John
Lai

On
December 16, 2019, PetVivo, John Lai, Wesley Hayne, and Edward Wink entered into an escrow agreement (“Escrow Agreement”)
which replaced the prior escrow agreement dated June 7, 2017 between the parties. Pursuant to the Escrow Agreement, the escrow agent
held 254,018 shares of the Company’s common stock registered in the name of Mr. Lai in escrow, which shares would be released when
(i) PetVivo obtains equity financing in an amount of at least $5 million and (ii) PetVivo’s listed on Nasdaq, the New York Stock
Exchange, or an equivalent securities exchange. This condition was met on August 13, 2021, and the shares were released to Mr. Lai.

In
May 2021, Mr. Lai converted 42,188 warrants into common stock with an exercise and conversion price of $1.33 per share into 36,915 shares
of our common stock on a cashless basis pursuant to the warrants’ cashless conversion feature.

ITEM
14. PRINCIPAL ACCOUNTING FEES AND SERVICES

Auditor
Information:

Auditor
Name: Stephano Slack LLC

PCAOB
ID: 3523

Location:
Wayne, Pennsylvania

Audit
Fees

The
aggregate fees billed for the fiscal years ended March 31, 2025 and 2024 for professional services rendered by Stephano Slack LLC, the
principal accountant for the audit of the Company’s annual financial statements included in our Form 10-K and review of our quarterly
unaudited financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings
or engagements for those fiscal years were $47,000 and $0 respectively.

Assurance
Dimensions provided services for the year ended March 31, 2024. The aggregate fees billed for the fiscal years ended March 31, 2025 and
2024 for professional services rendered by Assurance Dimensions, the principal accountant for the audit of the Company’s