Company: PETVW
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001641172-25-018617
Chunk: 206

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 1A
Chunk 206
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 advancement of their patents and trademarks and amortizes these costs over the
lesser of the useful life of 60 months or the life of the patent. We evaluate the recoverability of intangible assets periodically by
considering events or circumstances that may warrant revised estimates of useful lives or that indicate the asset may be impaired.

(K)
Loss Per Share

The Company follows Financial Accounting Standards Board (“FASB”) Accounting Standards
Codification (“ASC”) 260 when reporting Loss Per Share resulting in the presentation of basic and diluted
loss per share.  Because the Company reported a net loss for each of the years ended March 31, 2025 and 2024, common stock equivalents,
including preferred stock, stock options and warrants were anti-dilutive; therefore, the amounts reported for basic and diluted loss per
share were the same.

    F-9

(L)
Revenue Recognition

The
Company recognizes revenue in accordance with FASB ASC 606 “Revenue from Contracts with Customers.”

The
Company derives revenue from the sale of its pet care products directly to its veterinarian customers in the United States. The Company
recognizes revenue when performance obligations under the terms of a contract with the veterinarian customer are satisfied. Product sales
occur once control or title is transferred based on the commercial terms. Revenue is recognized upon delivery to the customer, which
is when control of these products is transferred and in an amount that reflects the consideration the Company expects to receive for
these products. Shipping costs charged to customers are reported as an offset to the respective shipping costs. The Company does not
have any significant financing components as payment is received at or shortly after the point of sale.

The
Company entered into a Distribution Services Agreement (the “Agreement”) with MWI Veterinary Supply Co. (the
“Distributor”) on June 17, 2022. Contracts with the Distributor are evidenced by individual executed purchase orders
subject to the terms of the Agreement. The contracts consist of a single performance obligation related to the sale of our pet care
products. Product sales occur once control or title is transferred based on the commercial terms in the Agreement. Revenue is
recognized upon delivery to the Distributor; payment is due within 60 days. The Agreement provides for a distribution fee payable to
the Distributor equal to 5%
of gross monthly sales payable in 45 days; the distribution fee is netted against revenue. The Agreement provides for a rebate
payable to the Distributor based on annual sales volume