Company: PETVW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023398
Chunk: 31

Company: PetVivo Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 31
---
 and became effective.
On October 14, 2022, the stockholders of the Company approved the PetVivo Holdings, Inc. Amended and Restated 2020 Equity Incentive Plan
(the “Amended Plan”), which increased the number of shares of the Company’s common stock which may be granted under
the Amended Plan from 1,000,000 to 3,000,000. Unless sooner terminated by the Board, the Amended Plan will terminate at midnight on July
10, 2030. The number of shares available to grant under the Plan was 1,134,235 at September 30, 2025.

     20 

Preferred
Stock

The
certificate of designation of rights and preferences has an optional conversion provision whereby each share of Series A Preferred Stock
shall be convertible at any time at the option of a holder into shares of Common Stock. The Series A Preferred Stock also has an automatic
conversion whereby the preferred shares shall automatically convert into Common Stock upon the one-year anniversary of the issuance of
the Series A Preferred Stock. There are no dividends attached to the Series A Preferred Stock. The Series A Preferred Stock was converted
to Common Stock on July 18, 2025.

On
March 26, 2025, the Company entered into a Subscription Agreement to receive $5,000,000 shares of Series B Preferred Stock. The Company
initially received $600,000 of proceeds on March 26, 2025, with the investor receiving an option to invest the remaining $4,400,000 pursuant
to the same terms and conditions, which was fully received and funded on June 24, 2025.

Series
B Preferred Stock is entitled to receive a specific dividend in an annual amount equal to Ten Percent (10%) of the total amount paid
to secure the Series B Convertible Preferred Stock. The dividend shall be paid to the holder by the Company in quarterly payments of
Common Stock. The amount of shares pursuant to the dividend shall be calculated by dividing the total quarterly dividend payment by the
greater of i) the volume weighted average price of the common stock for the prior trading ten (10) day period from the date the quarterly
dividend is owed, or ii) fifty cents ($0.50). Also, non-cumulative dividends may be paid when, and if declared by the Company’s
board of directors. Total dividends declared at September 30, 2025 and March 31, 202