Company: PETVW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023398
Chunk: 12

Company: PetVivo Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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 on historical loss information, adjusted for management’s expectations about current and future
economic conditions, as the basis to determine expected credit losses. Management exercises significant judgment in determining expected
credit losses. Key inputs include macroeconomic factors, industry trends, the creditworthiness of counterparties, historical experience,
the financial conditions of the customers, and the amount and age of past due accounts. Management believes that the composition of receivables
is consistent with historical conditions as credit terms and practices and the client base has not changed significantly. Receivables
are considered past due if full payment is not received by the contractual due date. Past due accounts are generally written off against
the allowance for credit losses only after all collection attempts have been exhausted. As of September 30, 2025, and March 31, 2025,
the Company had not recorded an allowance for credit losses, as management determined that no reserve was necessary based on its assessment
of the collectability of outstanding balances and the credit quality of its customers.

(H)
Inventory

Inventory
is stated at the lower of cost or market. Cost is determined using the first-in, first-out (FIFO) method. Inventory consists primarily
of finished goods.

The
Company evaluates inventory for excess and obsolescence based on factors such as current inventory levels, estimated product life cycles,
historical and forecasted customer demand, and input from the product development team. When necessary, a reserve is recorded to reduce
the carrying value of inventory to its estimated net realizable value. These estimates and assumptions are reviewed at least annually
and updated as needed based on the Company’s business plans and market conditions. As of September 30, 2025 and March 31, 2025,
the Company determined that no inventory reserve was required.

(I)
Property & Equipment

Property
and equipment are recorded at cost. Expenditures for major additions and improvements are capitalized. Maintenance and repairs are charged
to operations as incurred. Depreciation is computed by the straight-line method (after considering their respective estimated residual
values) over the assets estimated useful life of 3 to 5 years for production and computer equipment and furniture and 5 to 7 years for
leasehold improvements.

     9 

(J)
Patents and Trademarks

The
Company capitalizes direct costs for the maintenance and advancement of their patents and trademarks and amortizes these costs over the
lesser of the useful life of 60 months or the life of the patent. We evaluate the recover