Company: PETVW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006783
Chunk: 49

Company: PetVivo Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 49
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 $28,891 in cash and cash equivalents. In comparison, our current
liabilities as of that date were $2,936,314 including $1,438,735 of accounts payable and accrued expenses. Our working capital deficit
as of December 31, 2024 was $1,709,485.

From
January 1, 2025, through the date of this quarterly report 10Q filing, the Company sold 546,154 restricted common shares to six accredited
investors who purchased the shares for $355,000 at $0.65 per share.

We
will need to raise additional capital in the future to support our efforts to commercialize Spryng™ and our ongoing operations.
We expect to continue to raise additional capital through the sale of our securities from time to time for the foreseeable future to
fund our business expansion. Our ability to obtain such additional capital will likely be subject to various factors, including our overall
business performance and market conditions. There can be no guarantee that the Company will be successful in its ability to raise additional
capital to fund its business plan.

Net
Cash Used in Operating Activities – We used $4,091,978 of net cash in operating activities for the nine months ended December
31, 2024. This cash used in operating activities was primarily attributable to our net loss of $5,979,594, partially offset by stock-based
compensation expense of $1,017,242 and investor relations and consulting services paid in stock of $626,653.

Net
Cash Used in Investing Activities – We used $42,230 of net cash in investing activities for the nine months ended December
31, 2024, consisting of costs capitalized for manufacturing and computer equipment.

Net
Cash Provided by Financing Activities – During the nine months ended December 31, 2024, we provided net cash of $4,075,696
from the sale of common stock and preferred stock and proceeds from the issuance of convertible debentures and notes payable.

Inventory

Inventories
are stated at cost, subject to the lower of cost or net realizable value. Cost includes materials, labor, and manufacturing overhead
related to the purchase and production of inventories. Net realizable value is the estimated selling price less estimated costs of completion,
disposal, and transportation. We regularly review inventory quantities on hand through an inventory count.

32

At
December 31, 2024, the Company’s inventory had a carrying value of $353,