Company: PETVW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023398
Chunk: 47

Company: PetVivo Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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 2025 and 2024, respectively. Cost of
sales includes product costs and labor and overhead related to the sale of our Spryng® products and product costs related to the
sale of PrecisePRP™ products. The increase in our cost of sales for the six months ended September 30, 2025, compared to the six months
ended September 30, 2024, is due to sales of PrecisePRP™ products.

Operating
Expenses. Operating expenses were $4,316,468 and $4,507,787 for the six months ended September 30, 2025 and 2024, 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 $2,305,548 and $2,500,378 for the six months ended September 30, 2025 and 2024,
respectively. General and administrative expenses include compensation and benefits, contracted services, legal and consulting fees,
and stock compensation expenses.

Sales
and marketing expenses were $1,408,974 and $1,154,720 for the six months ended September 30, 2025 and 2024, respectively. Sales and marketing
expenses include compensation, consulting, tradeshows, and stock compensation costs to support the sales of our Spryng® and PrecisePRP™
products.

Research
and development (“R&D”) expenses were $601,946 and $852,689 for the six months ended September 30, 2025 and 2024, respectively.
The decrease was primarily related to decreased clinical studies due to tight cash flow constraints.

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Operating
Loss. As a result of the foregoing, our operating loss was $3,909,684 and $4,217,473 for the six months ended September 30, 2025
and 2024, respectively. The decrease was related to cost-cutting initiatives in general and administrative and research and development
(“R&D”) expenses.

Other
Income (Expense). Other expense was ($1,409,162) and $5,083 for the six months ended September 30, 2025 and 2024,
respectively. Other income (expense) in 2025 consisted of unrealized loss on change in derivative liabilities, loss on disposal of
assets, amortization of debt discount