Company: PETVW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006783
Chunk: 47

Company: PetVivo Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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3, respectively. The decrease was related to cost-cutting initiatives in general and administrative and sales and marketing
expenses.

Other
Income. Other income was $1,367 and $383,776 for the three months ended December 31, 2024 and 2023, respectively. Other income
in 2023 consisted of extinguishment of payables.

Net
Loss. Our net loss for the three months ended December 31, 2024 was $1,757,038 or ($0.09) per share as compared to a net loss
of $1,749,848 or ($0.12) per share for the three months ended December 31, 2023. The decrease was related to cost-cutting initiatives
in general and administrative expenses and sales and marketing expenses. The weighted average number of shares outstanding was 20,632,921
compared to 14,271,530 for the three months ended December 31, 2024 and 2023, respectively.

For
The Nine Months Ended December 31, 2024, Compared to The Nine Months Ended December 31, 2023

Total
Revenues. Revenues were $907,783 and $920,440 for the nine months ended December 31, 2024 and 2023, respectively. Revenues in
the nine months ended December 31, 2024, consist of sales of our Spryng™ products to our Distributors of $781,756 and to veterinary
clinics in the amount of $126,027. Revenues in the nine months ended December 31, 2023, consist of sales of our Spryng™ products
to our Distributor of $715,997 and to veterinary clinics in the amount of $204,443.

Cost
of Sales. Cost of sales were $95,653 and $96,646 for the nine months ended December 31, 2024 and 2023, respectively. Cost of
sales includes product costs related to the sale of our Spryng™ products and labor and overhead costs. Cost of sales in the nine
months ended December 31, 2024, compared to the three months ended December 31, 2023 remained constant.

Operating
Expenses. Operating expenses were $6,788,008 and $8,795,338 for the nine months ended December 31, 2024 and 2023, respectively.
The decrease is primarily due to decreased general and