Company: PETVW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006783
Chunk: 22

Company: PetVivo Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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% per annum. At December 31, 2024,
and March 31, 2024, the amount outstanding on the note was $15,113 and $20,528, respectively. At December 31, 2024, the Company classified
$7,690 as a current liability and $7,423 in other liabilities. At March 31, 2024, the Company classified $7,521 as a current liability
and $13,171 in other liabilities.

In
October 2023 and amended in November 2023, the Company entered into a promissory note for $120,000. The note accrued interest at a rate
of 10% per annum. The principal and accrued interest were due in February 2024. The holder of the note had the option to convert the
principal and accrued interest into shares of the Company’s common stock at a conversion rate of $0.75 per share.

On
February 5, 2024, the note and accrued interest of $123,255 was converted into 164,340 shares of common stock.

In
March 2024, the Company entered into a convertible promissory note for $150,000. The note accrued interest at a rate of 10% per annum.
The principal and accrued interest were due in April 2024. The holder of the note had the option to convert the principal and accrued
interest into Units of the Company’s common stock and warrants at a conversion rate of $0.70 per Unit. On April 10, 2024, the company
entered into another promissory note for an additional $150,000 whereby the new principal balance was $300,000 with the same terms. On
April 29, 2024, the noteholder converted the $300,000 principal balance, along with $1,558 of accrued interest into Units, consisting
of 430,798 common shares, in addition to the Company issuing 430,798 warrants to purchase shares with a strike price of $1.50 per share
for a period of three years.

    17

On
September 9, 2024, the Company entered into a convertible promissory note for $150,000.
The note accrued interest at a rate of 10%
per annum. The holder of the note has the option to convert the principal and accrued interest at a conversion price of the lesser of
i) the per Share price at which the Company sells