Company: PETVW
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001641172-25-018617
Chunk: 503

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 3
Chunk 503
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in 2029, whereby the net intangible assets will be fully amortized.

    F-13

NOTE
7 – LICENSING AGREEMENTS

The
components of licensing agreements, all of which are finite-lived, were as follows:

 SCHEDULE
OF LICENSING AGREEMENTS

    March 31, 2025  
    March 31, 2024 
  
     License Agreement 
    $2,000,000  
    $- 
  
    Accumulated Amortization 
     (50,000) 
     - 
  
    Total net 
    $1,950,000  
    $- 

In
February 2025, the Company signed an exclusive licensing agreement with VetStem, Inc. to market and sell their Precise PRP
(Platelet-Rich Plasma) for both canine and equine products. The exclusive licensing agreement is a 5
five-year agreement whereby the Company paid an initial licensing fee of $2,000,000,
which was paid in a combination of $500,000 cash,
$1,000,000 in
stock issuances and $500,000 in
future contract payments, which is included in accrued expenses as of March 31, 2025. The licensing fee will be amortized over sixty
(60)
months, the term of the agreement. The licensing
agreement also has a nominal royalty fee payment between 3%
to 4.5%,
commencing in the seventh month of the licensing agreement. The royalty fee expense for the years ended March 31, 2025 and 2024 were
$0 and $0, respectively. We also issued 250,000 warrants, with a strike price of $1.25 per share for a term of three years.
The total warrant expense is valued at $46,030 to be amortized over thirty-six months.

For
the years ended March 31, 2025 and 2024, amortization expenses was $50,000 and $0, respectively.

NOTE
8 – ACCRUED EXPENSES

The
components of accrued expenses were as follows:

 SCHEDULE OF COMPONENTS OF ACCRUED EXPENSES

    March 31, 2025  
    March 31, 2024 
  
     Contract payable 
    $500,000  
    $- 
  
    Accrued payroll and related taxes 
     284,312