Company: PETVW
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001641172-25-018617
Chunk: 226

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 1A
Chunk 226
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 Holders converted $550,000 in Convertible Debentures and accrued interest of $27,500 into 385,000 shares
of the Company’s common stock and warrants (“Warrants”) to purchase an aggregate of 385,000 shares of the Company’s
common stock. The Warrants are exercisable any time on or after February 5, 2024 and prior to August 10, 2026 at an exercise price of
$2.00 per share.

As
a result of the inducement to the Debenture Holders to voluntarily convert the outstanding balance of their Convertible Debentures
prior to their maturity date, the Company recognized a loss on extinguishment of debt of $534,366.
The loss is comprised of the fair value of the warrants issued of $463,476,
as determined by the Black Scholes model; the value of additional shares issued of $45,834
as a result of the lower conversion rate to one share of the Company’s common stock issued and the additional interest of
$25,056
which is the amount of interest credited to the Debenture Holders over the actual interest earned of $2,444.
The value of the warrants and additional shares issued of $509,310
is reflected in the Consolidated Statements of Changes In Stockholders’ Equity.

    F-18

On
February 5, 2024, an investor in our Company became a greater than 10% shareholder of the Company converted an
outstanding promissory note dated October 16, 2023, as amended on November 13, 2023 (the “Convertible Note”), in the
amount of $120,000,
plus accrued interest of $3,255
into 164,340
shares of the Company’s common stock. The maturity date of the Convertible Note was May
14, 2024, the interest rate was 10%
per annum and the effective conversion price was $0.75
per share.

Sale
of Common Stock

On
August 4, 2023, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) with two accredited investors
(the “Investors”), pursuant to which the Company agreed to issue and sell to the Investors in a registered direct offering
(the “Registered Offering”) 1,200,002 shares (“Registered Shares”) of the Company’s common stock (the “Common
Stock”) at a price of $1.50 per share. Under