Tue, Jul 9, 7:42 PM (60 days ago)
PetVivo Holdings, Inc. filed an amendment to its Form 10-K for the fiscal year ending March 31, 2024, to update various sections. Key updates include regulatory descriptions, risk factors, financial condition, and executive compensation. **Financial Performance:** - **Revenue:** $968,706, up from $917,162 in FY 2023. - **Net Loss:** Increased to $10,955,295 from $8,717,608. - **Operating Expenses:** Rose to $11,360,866 from $9,429,578. - **Earnings Per Share:** Improved slightly to ($0.78) from ($0.85). **Strategic Overview:** - Focus on commercializing Spryng™, a veterinary medical device. - Entered non-exclusive distribution agreements with MWI and Covetrus. **Future Outlook:** - Plans to expand product pipeline and increase commercialization efforts. **Risk Factors:** - Potential delisting from Nasdaq due to non-compliance with equity requirements. - Dependence on Spryng™ for revenue. - Need for additional capital to sustain operations. **Financial Condition:** - Working capital deficit of $370,710. - Cash and cash equivalents of $87,403 as of March 31, 2024. **Market Position:** - Competition from major animal health companies and emerging startups. - Efforts to protect intellectual property through patents and trade secrets.