Company: PETVW
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001641172-25-018617
Chunk: 867

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 7
Chunk 867
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 its customers.

(H)
Inventory

Inventory is stated at the lower of cost or market. Cost is determined
using the first-in, first-out (FIFO) method. Inventory consists primarily of finished goods.

The
Company evaluates inventory for excess, and obsolescence based on factors such as current inventory levels, estimated product life cycles,
historical and forecasted customer demand, and input from the product development team. When necessary, a reserve is recorded to reduce
the carrying value of inventory to its estimated net realizable value. These estimates and assumptions are reviewed at least annually
and updated as needed based on the Company’s business plans and market conditions. As of March 31, 2025 and 2024, the Company determined
that no inventory reserve was required.

(I)
Property & Equipment

Property
and equipment are recorded at cost. Expenditures for major additions and improvements are capitalized. Maintenance and repairs are charged
to operations as incurred. Depreciation is computed by the straight-line method (after considering their respective estimated residual
values) over the assets estimated useful life of 3 to 5 years for production and computer equipment and furniture and 5 to 7 years for
leasehold improvements.

(J)
Patents and Trademarks

The
Company capitalizes direct costs for the maintenance and 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