Company: PETVW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023398
Chunk: 23

Company: PetVivo Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 totaling $12,000.
The notes accrued interest at a rate of 10%
per annum. The entire unpaid principal balance, together with interest, shall be due and payable in full on or before the earlier of
December 31, 2025 or the date the Company receives the remaining balance of the $5
million Series B Subscription. The Company repaid the three promissory notes plus accrued interest of $293
for a total of $12,293
on July 14, 2025.

As
of September 30, 2025, total non-convertible notes payable, including accrued interest, were $0.
As of March 31, 2025, the balance totaled $318,307,
consisting of $312,865
classified as current and $5,442
classified as long-term liabilities within other liabilities.

For the three months ended September 30, 2025 and 2024, interest expense on non-convertible notes payable totaled
$1,946 and $0, respectively. For the six months ended September 30, 2025 and 2024, interest expense totaled $11,220 and $0, respectively.

     15 

NOTE
9 – CONVERTIBLE NOTES PAYABLE and ACCRUED INTEREST

From
September 9, 2024 through March 31, 2025, the Company borrowed $1,623,377 in convertible promissory notes. On June 10, 2025, the Company
entered into an additional promissory note for $160,000 at a rate of 10% per annum and a maturity date of December 31, 2025. This note
included the issuance of 75,000 warrants, with a two-year term and a strike price of $0.75 per share. The warrants were valued at $23,649
using the Black-Scholes option pricing model on the grant date. The fair value is required to be recorded as a debt discount and amortized
to interest expense over the term of the note. The Company did not record the debt discount and related amortization in the three months
ended June 30, 2025, as the amounts were not considered material. The Company recorded the debt discount of $23,649 and recognized the
related amortization expense of $16,815 in the three month period ending September 30, 2025.

On
September 30, 2025, the Company issued