Company: PETVW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001493152-25-011967
Chunk: 35

Company: PetVivo Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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 the legislation on its consolidated financial statements, including deferred tax assets
and liabilities. Because the enactment occurred after the end of the reporting period and before issuance of these financial statements,
the effects have not been recognized in the accompanying condensed consolidated financial statements as of and for the period ended June
30, 2025, consistent with ASC 740 and ASC 855.

The
Company expects the corporate rate reduction to have a favorable impact on its effective tax rate beginning in fiscal 2027. However,
remeasurement of deferred tax balances and the application of new limitations may result in non-cash tax charges in future periods. The
Company will continue evaluating the impact and recognize any required adjustments in the period of enactment.

24

ITEM
2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

GENERAL

PetVivo
Holdings, Inc. (the “Company,” “PetVivo,” “we” or “us) is an emerging biomedical device company
focused on the manufacturing, commercialization, and licensing of innovative medical devices and therapeutics for animals. The Company
has a pipeline of products for the treatment of animals. A portfolio of nineteen patents protects the Company’s biomaterials, products,
production processes, and methods of use. The Company began commercialization of its lead product Spryng® with OsteoCushion®
Technology, a veterinarian-administered, intraarticular injection for the management of lameness and other joint afflictions such as
osteoarthritis in dogs and horses, in the second quarter of its fiscal year ended March 31, 2022.

The
Company was incorporated in March 2009 under Nevada law under a different name. The Company operates as one segment from its corporate
headquarters in Edina, Minnesota.

CURRENT
BUSINESS OPERATIONS

The
Company is primarily engaged in the business of commercializing and licensing products in the veterinary market to treat and/or manage
afflictions of companion animals such as dogs and horses. Most of our technology was developed for human biomedical applications, and
we intend to leverage the investments already expended in their development to commercialize treatments for horses and companion animals
in a capital and time-efficient way.

The
Company’s initial product, Spryng®, and its pipeline products are derived from proprietary biomaterials that simulate
a body’s cellular tissue by virtue of their reliance upon natural protein and carbohydrate compositions which incorporate such
“tissue building blocks” as collagen, elastin