Company: PETVW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001493152-25-011967
Chunk: 57

Company: PetVivo Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 57
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 a going concern. The financial statements have been prepared assuming that
we will continue as a going concern, which contemplates that we will realize our assets and satisfy our liabilities and commitments in
the ordinary course of business. Our working capital at June 30, 2025, was $1,283,426. As a result of our private placement offering with
proceeds of $5,000,000 from the sale of Series B convertible preferred stock, we believe the proceeds from this private placement offering
are sufficient to fund operations until December 31, 2025 (see Liquidity and Capital Resources above).

We
have continued to realize losses from operations. We will need to raise additional capital in the future to support our efforts to commercialize
Spryng® and our ongoing operations. We expect to continue to raise additional capital through the sale of our securities
from time to time for the foreseeable future to fund our business expansion. Our ability to obtain such additional capital will likely
be subject to various factors, including our overall business performance and market conditions. There can be no guarantee that the Company
will be successful in its ability to raise additional capital to fund its business plan.

CRITICAL
ACCOUNTING POLICIES

We
prepare our consolidated financial statements in accordance with generally accepted accounting standards in the United States of America.
Our significant accounting policies are described in Note 1 to our condensed consolidated financial statements attached hereto. We believe
the following critical accounting policies involve the most significant judgments and estimates used in the preparation of the condensed
consolidated financial statements.

RECENTLY
ISSUED ACCOUNTING STANDARDS

The
Company has reviewed the FASB issued ASU accounting pronouncements and interpretations thereof that have effectiveness dates during the
periods reported and in future periods. The Company has carefully considered the new pronouncements that alter previous generally accepted
accounting principles and do not believe that any new or modified principles will have a material impact on the Company’s reported
financial position or operations in the near term. The applicability of any standard is subject to the formal review of the Company’s
financial management.

29

In
June 2016, the FASB issued ASU 2016-13, “Financial Instruments-Credit Losses (Topic 326), Measurement of Credit Losses on Financial
Instruments,” which replaces the existing “incurred loss” model for recognizing credit losses with an “expected
loss” model referred to as the CECL model. Under the CE