Company: PETVW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023398
Chunk: 29

Company: PetVivo Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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 ended March 31, 2025, all of the leased vehicles
under the vehicle fleet program were sold and the Company recognized a loss of $1,018 on the sale of the leased vehicles, reported in
other income (expense). As a result of the sale, right-of-use assets were reduced by $53,168 and lease liability was reduced by $53,168.

Operating
vehicle lease expense for the six months ended September 30, 2025, and 2024, was $0 and $25,395, respectively.

The
following is a maturity analysis of the annual undiscounted cash flows of the operating lease liabilities as of September 30, 2025:

SCHEDULE OF MATURITY OF ANNUAL UNDISCOUNTED OPERATING LEASE LIABILITY 

    2026 
    $244,731 
  
    2027 
     55,102 
  
    Total 
    $299,833 
  
    Less: amount representing interest 
     (213,515)
  
    Total 
    $86,318 

     19 

In
compliance with ASC 842, the Company recognized, based on the extended lease terms to June 2026, November 7, 2026, and March 2027, a
treasury rate of 0.12%, 0.40%, and 4.39%, respectively, an operating lease right-of-use assets for approximately $86,318 and corresponding
and equal operating lease liabilities for the leases. As of September 30, 2025, the present value of future base rent lease payments
based on the remaining lease terms and weighted average discount rate are approximately 4.2 years and 1.92%, respectively, are as follows:

SCHEDULE OF BASE RENT LEASE PAYMENTS 

    Present value of future base rent lease payments 
    $86,318 
  
    Base rent payments included in prepaid expenses 
     - 
  
    Present value of future base rent lease payments – net 
    $86,318 

As
of September 30, 2025, the present value of future base rent lease payments – net is classified between current and non-current
assets and liabilities as follows:

SCHEDULE OF LEASE CURRENT AND NON-CURRENT ASSETS AND LIABILITIES 

    Operating lease right-of-use asset 
    $86,318 
  
    Total operating lease assets 
     86,318 

    Operating lease current