Company: PETVW
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001641172-25-018617
Chunk: 1072

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 8
Chunk 1072
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The
Company is subject to taxation in the U.S. and Minnesota. Our tax years for 2020 and forward are subject to examination by tax authorities.
The Company is not currently under examination by any tax authority.

Management
has evaluated tax positions in accordance with FASB ASC 740, and has not identified any tax positions, other than those discussed above,
that require disclosure.

NOTE 16 – SEGMENT REPORTING

The
Company manages the business activities on a consolidated basis and operates in one reportable segment. The Company’s
reportable segment is an emerging biomedical device company focused on the manufacturing, commercialization, and licensing of
innovative medical devices and therapeutics for animals. The segment is animal health products. As the Company
has one reportable segment, sales and marketing, research and development, including clinical trial expenses and general
and administrative expenses are equal to consolidated results. Financial results for the Company’s reportable segment have been
prepared using a management approach, which is consistent with the basis and manner in which financial information is evaluated by
the Company’s Chief Operating Decision Maker (“CODM”) in allocating resources and in assessing performance. The Company’s
CODM is the Chief Financial Officer. The measurement of segment profit or loss that the CODM uses to evaluate the performance of the
Company’s segment is net income attributable to animal health financial budgets and actual results used by the
CODM to assess performance and allocate resources, as well as strategic decisions related to headcount and other expenditures are
reviewed on a consolidated basis. The CODM considers the impact of the significant segment expenses in the table below on operating
income (loss) when deciding where and when to make expenditures. 

 SCHEDULE
OF SEGMENT INFORMATION TEXT BLOCK

    2025

    2024

    For
the Years Ended March 31,

    2025

    2024

    NET REVENUE
     
    $
    1,132,533

    $
    968,706

    Cost of Sales

    137,677

    101,823

    Gross Profit

    994,856

    866,883

    OPERATING EXPENSES

    Sales and marketing

    2,644,095

    3,399,666

    Research and development

    1,583,250

    1,395,371

    General and administrative

    4,