Company: PETVW
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001641172-25-018617
Chunk: 1678

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 13
Chunk 1678
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, there was no future unrecognized warrant expense.

NOTE
15 – INCOME TAXES

The
following table presents the net deferred tax assets as of March 31, 2025 and 2024:

  SCHEDULE OF DEFERRED TAX

    2025  
    2024 
  
    Net operating loss carryforwards 
    $12,723,000  
     10,786,000 
  
    Stock compensation 
     1,857,000  
     1,539,000 
  
    Other 
     98,000  
     74,000 
  
    Total deferred tax assets 
     14,678,000  
     12,399,000 
  
    Valuation allowance 
     (14,678,000) 
     (12,399,000)
  
    Net deferred tax assets 
    $-  
    $- 

    F-25

Current
income taxes are based upon the year’s income taxable for federal and state tax reporting purposes. Deferred income taxes (benefits)
are provided for certain income and expenses, which are recognized in different periods for tax and financial reporting purposes.

Deferred
tax assets and liabilities are computed for differences between the financial statements and tax bases of assets and liabilities that
will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the period in which the
differences are expected to affect taxable income. The Company’s deferred income taxes arise from the temporary differences between
financial statement and income tax recognition of net operating losses. These loss carryovers would be limited under the Internal Revenue
Code should a significant change in ownership occur within a three-year period.

At
March 31, 2025 and 2024, respectively, the Company had net operating loss carryforwards of approximately $44,300,000 and
$37,500,000.
The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in
which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, the
projected future taxable income and tax planning strategies in making this assessment. Based on management’s analysis, they
concluded not to retain a deferred tax asset since it is uncertain whether the Company can utilize this asset in future periods.
Therefore, they have established a full reserve against this asset. The change in the valuation allowance during the years ended
March 31, 2025