Company: PETVW
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001641172-25-018617
Chunk: 1303

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 9B
Chunk 1303
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 Balance Sheets.

None
of our lease agreements contain material restrictive covenants or residual value guarantees.

Buildings

The
Company entered into an 84
eighty-four month lease for 3,577
square feet of newly constructed office, laboratory, and warehouse space located in Edina, Minnesota in May 2017. The base rent has
annual increases of 2%
and the Company is responsible for its proportional share of common space expenses, property taxes, and building insurance. This
lease is terminable by the landlord if damage causes the property to no longer be utilized as an integrated whole and by the Company
if damage causes the facility to be unusable for a period of 45 days. In
January 2020, the Company entered into a lease amendment to extend the lease term through November of 2026 in exchange for
receipt of a loan of $42,500
recorded to note payable. The monthly base rent as of March 31, 2025, and 2024 was $2,386
and $2,340,
respectively.

    F-15

The
Company entered into a 63 sixty-three month lease for 2,400
square feet of office space located in Edina, Minnesota in January 2022. This lease will expire in March 2027. The base rent has
annual increases of 2.5%
and the Company is responsible for its proportional share of common space expenses, property taxes, and building insurance. The
monthly base rent as of March 31, 2025 and 2024 was $2,879
and $2,808,
respectively.

On
January 10, 2023, the Company entered into a new lease agreement for approximately 14,000 square feet of production and warehouse space
with a commencement date of April 1, 2023, which is when the control and right of use for this asset took place. The initial monthly
base rent is $8,420 and has annual increases of 2.5%. The Company is also responsible for its proportional share of common space expenses,
property taxes, and building insurance. The lease will terminate on June 30, 2033, and the Company has a renewal option for a period
of five years. The monthly base rent as of March 31, 2025 and 2024 was $8,631 and $8,420, respectively.

Vehicles

The Company leased vehicles for certain members of its field