Company: PETVW
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001641172-25-018617
Chunk: 865

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 7
Chunk 865
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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. sell our 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 consolidated financial statements are prepared in accordance
with accounting principles generally accepted in the United States of America (“US GAAP”) and pursuant to the rules and regulations
of the Securities and Exchange Commission (“SEC”).

(C)
Principles of Consolidation

The accompanying consolidated financial statements
include all the accounts of the PetVivo Holdings Inc., and and its two wholly-owned Minnesota corporations, Gel-Del Technologies, Inc.
and PetVivo Animal Health, Inc. (collectively, the “Company”). All intercompany transactions have been eliminated upon consolidation.

The Company is an emerging growth company as the term is used in The Jumpstart Our Business Startups Act, enacted
on