Company: PETVW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001493152-25-011967
Chunk: 7

Company: PetVivo Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 7
---
 Convertible debentures
    and accrued interest converted to common stock 
    $-  
    $301,558 

The
accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

7

PetVivo
Holdings, Inc.

Notes
to Financial Statements

June
30, 2025

(Unaudited)

NOTE
1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION

(A)
Organization and Description

PetVivo
Holdings, Inc. was incorporated in Nevada under its former name in 2009 and entered its current business
in 2014 through a stock exchange reverse merger with PetVivo, Inc., a Minnesota corporation. This merger resulted in PetVivo, Inc. becoming
a wholly owned subsidiary of PetVivo Holdings, Inc. In April 2017, PetVivo Holdings, Inc. acquired another Minnesota corporation, Gel-Del
Technologies, Inc., through a statutory merger, which is also a wholly-owned subsidiary of PetVivo Holdings, Inc. In April 2025, PetVivo
Holdings, Inc. changed the name of its wholly-owned subsidiary PetVivo, Inc. to PetVivo Animal Health, Inc. to better reflect the industry
in which PetVivo Holdings, Inc. sells its products.

The
Company is in the business of licensing and commercializing our proprietary medical devices and biomaterials for the treatment and/or
management of afflictions and diseases in animals, initially for dogs and horses. The Company began commercialization of its lead product
Spryng® with OsteoCushion® Technology, a veterinarian-administered, intraarticular injection for the management
of lameness and other joint afflictions such as osteoarthritis in dogs and horses in September 2021. The Company has a pipeline of additional
products for the treatment of animals in various stages of development. A portfolio of nineteen patents protects the Company’s
biomaterials, products, production processes and methods of use. In February 2025, The Company signed an exclusive licensing agreement
with VetStem, Inc. to market and sell their Precise PRP (Platelet-Rich Plasma) product for both canine and equine. Revenues are expected
in fiscal year 2026. The Company’s operations are conducted from its headquarter facilities in suburban Minneapolis, Minnesota.

(B)
Basis of Presentation

The
accompanying unaud