Company: PETVW
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001641172-25-018617
Chunk: 789

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 6
Chunk 789
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 The original maturity date was June 30, 2025, whereby an amendment extended the maturity date to December 31, 2025.

The
total convertible notes payables (all current liability), including accrued interest, for these convertible notes for the year ended
March 31, 2025 is $1,772,021, and for the year ended March 31, 2024 is 150,277.

Interest
expense for the years ended March 31, 2025 and 2024 was $57,021 and $277, respectively.

Derivative
Liabilities – Variable Conversion Features

The
Company evaluated the terms of its convertible notes and determined that certain embedded conversion features were not indexed to the
Company’s own stock due to variable pricing provisions. As a result, the embedded conversion features were bifurcated and accounted
for as derivative liabilities under ASC 815.

For each note with a derivative liability, the fair value of the derivative at inception was recorded as a discount to the carrying value
of the note and is being amortized to interest expense over the term of the note using the effective interest method. The fair values
of the derivative liabilities at inception dates of the notes and at March 31, 2025 were estimated using a binomial option pricing model
with the following key inputs: closing stock price at Note inception dates and at March 31, 2025, strike price of $0.50, since this was
lower than the $1.00 per share price at which the Company sold shares in a Qualified Financing, term based on the remaining days to maturity
date, volatility rates between 87.1% - 139.3% at inception dates of notes and 81.2% - 115.6% at March 31, 2025, risk-free rate rates between
4.14% - 5.18% at inception dates of notes and 4.08% at March 31, 2025, and dividend yield of zero. The fair value of the derivative liabilities
at inception and March 31, 2025 was $341,576 and $448,089. The Company recognized an unrealized loss on the change in fair value of derivative
liabilities of $106,513 and $0 for the years ended March 31, 2025 and 2024, respectively, . Interest expense related to the amortization
of the debt discounts associated with derivative liabilities was $285,563 and $