Company: PETVW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006783
Chunk: 12

Company: PetVivo Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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or in accordance with Topic 842 on leases. In addition, ASC 326
amended the accounting for available-for-sale debt securities. One such change is to require credit losses to be presented as an allowance
rather than as a write-down on available-for-sale debt securities, that management does not intend to sell or believes that it is more
likely than not they will be required to sell.

Under CECL, the Company estimates the allowance for credit losses using relevant available information, from both internal and external
sources, relating to past events, current conditions, and reasonable and supportable forecasts.

(H)
Inventory

Inventories
are recorded in accordance with Accounting Standards Codification (“ASC”) 330, Inventory, and are stated at the lower of
cost or net realizable value. We account for inventories using the first in first out (“FIFO”) methodology. Provisions for
inventory obsolescence are charged to Cost of Sales. There were no provisions for obsolescence for the nine months ended December 31,
2024, and 2023, respectively.

(I)
Property & Equipment

Property
and equipment are recorded at cost. Expenditures for major additions and betterments 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.

    10

(K)
Loss Per Share

Basic
loss per share is computed by dividing net loss by weighted average number of shares of common stock outstanding during each period.
Diluted loss per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents
and potentially dilutive securities outstanding during the period.

The
Company had 12,903,128 warrants outstanding as of December 31, 2024, with varying exercise prices ranging from $.90 to $5.625 per share.
The weighted average exercise price for these warrants