Company: PETVW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006783
Chunk: 36

Company: PetVivo Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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     -   
  
    Balance at December 31, 2024 
     198,124  
    $0.60  
    $3,109 

    (1)
    The aggregate intrinsic
    value of restricted stock units outstanding was based on our closing stock price on the last trading day of the period.

Stock
Options

Stock
options issued to employees and directors typically vest over three years (one year for directors) and have a contractual term of three
to seven years. Stock-based compensation expense included in the Consolidated Statements of Operations for stock options was $155,839
and $276,328 for the three months ended December 31, 2024, and 2023, respectively and $477,778 and $785,451 for the nine months ended
December 31, 2024, and 2023, respectively. At December 31, 2024, there was approximately $337,000 of total unrecognized stock option
expense which is expected to be recognized on a straight-line basis over a weighted-average period of 11 months.

    24

The
fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model. Annually, we make predictive
assumptions regarding future stock price volatility, dividend yield, expected term, and forfeiture rate. The dividend yield assumption
is based on expected annual dividend yield on a grant date. To date, no dividends on common stock have been paid by us. Expected volatility
for grants is based on our average historical volatility over a similar period as the expected term assumption used for our options as
the expected volatility. The risk-free interest rate is based on yields of U.S. Treasury securities with maturities similar to the expected
term of the options for each option group. We use the “simplified method” to determine the expected term of the stock option
grants. We utilize this method because we do not have sufficient public company exercise data in which to make a reasonable estimate.

The
following table sets forth the estimated fair values of our stock options granted:

 SCHEDULE OF ESTIMATED FAIR VALUE ASSUMPTION

    Nine Months Ended 
    Year Ended

    December 31, 2024 
    March 31,2024
  
    Expected term 
     3 years  
     6 years 
  
    Expected volatility 
     78.2% -205.0% 
     75.9