MINNEAPOLIS, MN, US, Aug. 07, 2025 (GLOBE NEWSWIRE) -- PetVivo Holdings, Inc. (OTCQX: PETV; OTCID: PETVW), a leading biomedical company delivering innovative medical devices and therapeutics for equines and companion animals, will hold a conference call on Thursday, August 14, 2025 at 5:00 p.m. Eastern time to discuss results for the fiscal first quarter ended June 30, 2025. The financial results will be issued in a press release prior to the call. PetVivo management will host the presentation, followed by ...

MINNEAPOLIS, July 30, 2025 (GLOBE NEWSWIRE) -- PetVivo Holdings, Inc. (OTCQX PETV; OTCID: PETVW) working in cooperation with its wholly-owned subsidiary PetVivo Animal Health, Inc. (collectively "PetVivo" or the “Company”), an emerging biomedical device company focused on the commercialization of innovative medical devices and therapeutics for horses and companion animals, such as Spryng® with OsteoCushion® Technology and PrecisePRP®, today announced that the Company has qualified to trade on the OTCQX® Bes ...

Part I [Business](index=4&type=section&id=Item%201.%20Business) PetVivo Holdings, Inc. is an emerging biomedical device company focused on innovative medical devices and therapeutics for animals, particularly companion animals like dogs and horses [Overview and Business Description](index=4&type=section&id=Item%201.%20Business%23Overview) PetVivo is a biomedical device company commercializing and licensing medical products for animals, with a pipeline of 18 products protected by patents and trade secrets - The company's lead product is **Spryng** with OsteoCushion Technology, an intraarticular injection for managing lameness and osteoarthritis in dogs and horses[18](index=18&type=chunk) - **Spryng** is designed to provide a bio-integrative scaffold in the joint, mimicking natural cartilage to restore proper joint mechanics and improve biomechanics[23](index=23&type=chunk) - Osteoarthritis affects an estimated **14 million** dogs and **1 million** horses in the U.S. Current treatments like NSAIDs manage symptoms but have potential side effects and do not halt joint degeneration, a gap **Spryng** aims to fill[24](index=24&type=chunk)[25](index=25&type=chunk) [Commercialization and Distribution](index=6&type=section&id=Item%201.%20Business%23Commercialization%20and%20Distribution) The company began selling Spryng in Q2 of fiscal 2022, initially with MWI and Covetrus, both agreements later terminated, and now partners with Vedco and Clipper - The company commenced sales of **Spryng** in the second quarter of fiscal 2022[28](index=28&type=chunk) - In March 2025, the company mutually terminated its non-exclusive distribution agreement with MWI. In February 2025, it also terminated its agreement with Covetrus North America, LLC[30](index=30&type=chunk) - In December 2024, PetVivo entered into new wholesale distribution partnerships with Vedco Inc. and Clipper Distributing, LLC[31](index=31&type=chunk) [Product Pipeline and Clinical Development](index=6&type=section&id=Item%201.%20Business%23Product%20Pipeline%20and%20Clinical%20Development) PetVivo has a pipeline of 17 additional therapeutic devices for veterinary and human use and is conducting multiple clinical studies to support its products, including a recently licensed Platelet-Rich Plasma (PRP) product - The company has a pipeline of **17** other therapeutic devices for veterinary and human applications, in addition to its commercialized **Spryng** product[34](index=34&type=chunk) - In February 2025, the Company signed an exclusive licensing agreement with VetStem, Inc. to market and sell their Precise PRP (Platelet-Rich Plasma) product for canine and equine use, with revenues anticipated in fiscal year 2026[35](index=35&type=chunk) Veterinary Product Pipeline Status | Product | Indication | Species | Commercial Launch | | :--- | :--- | :--- | :--- | | VD-01 | Osteoarthritis (Spryng) | Canine | Q2 2022 | | VD-02 | Osteoarthritis (Spryng) | Equine | Q2 2022 | | VD-03 | Digital Cushion Lameness | Equine & Bovine | Q2 2022 | | VD-06 | Osteoarthritis (Spryng) | Feline | Q1 2024 | [Intellectual Property](index=8&type=section&id=Item%201.%20Business%23Intellectual%20Property) The company's intellectual property portfolio includes six issued U.S. patents, two pending patent applications, four international patents, and six documented trade secrets - The company holds **six** issued U.S. patents and has **two** pending applications, along with **four** patents in Canada and the EU[42](index=42&type=chunk) - PetVivo relies on **six** documented trade secrets covering ingredient compositions, production techniques, and quality control procedures[45](index=45&type=chunk) - The company owns **two** U.S. federally registered trademarks: **Spryng®** and **OsteoCushion®**[49](index=49&type=chunk) [Regulation](index=12&type=section&id=Item%201.%20Business%23Regulation) Spryng® is classified as a veterinary medical device in the U.S., not requiring pre-market FDA approval, but future human-use products will face extensive regulatory scrutiny - In the U.S., the FDA does not require pre-market approval (510(k) or PMA) for devices used in veterinary medicine, such as **Spryng®**[86](index=86&type=chunk) - Future human-use medical devices will be subject to comprehensive FDA regulation, likely requiring either a 510(k) submission to demonstrate substantial equivalence to a predicate device or a more stringent Pre-Market Approval (PMA) application with extensive clinical data[78](index=78&type=chunk)[79](index=79&type=chunk) [Risk Factors](index=15&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks, including substantial financial losses, delisting from Nasdaq, heavy dependence on its single commercial product, and concentrated stock ownership - The company has a history of substantial losses, with a net loss of approximately **$8.0 million** for the year ended March 31, 2025, and an accumulated deficit of **$90.8 million**[95](index=95&type=chunk) - As of March 31, 2025, the company had only **$228 thousand** in cash, sufficient for only one month of operations, highlighting a critical need for additional financing[96](index=96&type=chunk) - The company's common stock and warrants were delisted from The Nasdaq Capital Market and now trade on the OTCQB market[94](index=94&type=chunk) - The business is substantially dependent on the success of its lead product, **Spryng®**, and faces significant competition from major industry players like Zoetis, Merck, and Elanco[99](index=99&type=chunk)[100](index=100&type=chunk) - As of June 1, 2025, officers and directors beneficially own or control approximately **27%** of the company's outstanding common stock, concentrating control[122](index=122&type=chunk) [Cybersecurity](index=23&type=section&id=Item%201C.%20Cybersecurity) PetVivo has established policies and processes for managing cybersecurity risks, overseen by the Board and managed by the CFO, with no material incidents reported to date - The company has established processes for assessing and managing cybersecurity threats, which are integrated into its overall risk management system[137](index=137&type=chunk) - The Board of Directors, assisted by the Audit Committee, oversees cybersecurity risk, with the CFO and a management committee responsible for day-to-day management[145](index=145&type=chunk)[146](index=146&type=chunk) - The company has not experienced any cybersecurity incidents that have been determined to be material[144](index=144&type=chunk) [Properties](index=25&type=section&id=Item%202.%20Properties) The company leases three facilities in Edina, Minnesota, for office, lab, warehouse, and production space, which management deems adequate for current needs - The company leases approximately **3,600 sq. ft.** of office, lab, and warehouse space expiring in November 2026[149](index=149&type=chunk) - An additional **2,400 sq. ft.** of office space is leased, with the lease expiring in March 2027[150](index=150&type=chunk) - A new lease for **14,073 sq. ft.** of production and warehouse space commenced on April 1, 2023, and will terminate on June 30, 2033[151](index=151&type=chunk) [Legal Proceedings](index=25&type=section&id=Item%203.%20Legal%20Proceedings) The company may be involved in ordinary course legal proceedings but does not anticipate any to have a material adverse effect - The company is not currently involved in any legal proceedings expected to have a material adverse effect on its business or financial condition[153](index=153&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities](index=25&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company's common stock trades on the OTCQB market, has 258 stockholders of record, has never paid cash dividends, and has issued various unregistered securities to raise capital - The Company's common stock is traded on the OTCQB Nasdaq Capital Market under the symbol '**PETV**'[156](index=156&type=chunk) - The company has never declared or paid cash dividends and does not anticipate doing so in the foreseeable future[157](index=157&type=chunk) Equity Compensation Plan Information as of March 31, 2025 | Plan category | Number of securities to be issued upon exercise | Weighted average exercise price | Number of securities remaining available for future issuance | | :--- | :--- | :--- | :--- | | Plans approved by shareholders | 1,140,933 | **$2.58** | 822,605 | | Plans not approved by shareholders | 562,817 | **$2.00** | — | [Management's Discussion and Analysis of Financial Condition and Results of Operation](index=29&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operation) For fiscal year 2025, revenues increased to $1.13 million, operating expenses decreased to $9.1 million, and the net loss improved to $8.4 million, though the auditor expressed going concern doubt, which management believes is mitigated by recent financing [Results of Operation (FY 2025 vs. FY 2024)](index=29&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operation%23Results%20of%20Operation) In fiscal 2025, revenues grew by **17%** to **$1.13 million**, total operating expenses fell to **$9.1 million**, resulting in a net loss of **($8.40 million)**, an improvement from **($11.0 million)** in fiscal 2024 Fiscal Year Financial Comparison (2025 vs. 2024) | Metric | FY 2025 | FY 2024 | | :--- | :--- | :--- | | Revenues | **$1,132,533** | **$968,706** | | Total Cost of Sales | **$137,677** | **$101,823** | | Total Operating Expenses | **$9,050,575** | **$11,488,223** | | Net Loss | **($8,399,166)** | **($10,955,295)** | | Net Loss Per Share | **($0.41)** | **($0.78)** | - Revenue increased primarily due to sales to new distributors Vedco and Clipper, and sales of the PrecisePRP product licensed from VetStem[191](index=191&type=chunk) - Operating expenses decreased mainly due to lower legal expenses, reduced investor relations consulting fees, termination of an expensive marketing agency relationship, and reduced trade show participation[193](index=193&type=chunk)[194](index=194&type=chunk)[195](index=195&type=chunk) [Liquidity and Capital Resources](index=30&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operation%23Liquidity%20and%20Capital%20Resources) As of March 31, 2025, the company had a working capital deficit of **$320,709** and **$87,403** in cash, but a recent **$5 million** Series B Preferred Offering is expected to provide sufficient cash for at least the next three months - The company entered into a **$5 million** Series B Preferred Offering subscription agreement on March 26, 2025, receiving **$600 thousand** by fiscal year-end and the remaining **$4.4 million** in May and June 2025[199](index=199&type=chunk) - Management believes it has sufficient cash to meet operating and capital requirements for at least the next three months following the recent financing, but will need to raise additional capital in the future[200](index=200&type=chunk) FY 2025 Cash Flow Summary | Cash Flow Activity | Amount | | :--- | :--- | | Net Cash Used in Operating Activities | **($4.52 million)** | | Net Cash Used in Investing Activities | **($1.06 million)** | | Net Cash Provided by Financing Activities | **$5.73 million** | [Controls and Procedures](index=32&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and internal control over financial reporting were not effective as of March 31, 2025, due to a material weakness related to derivative liabilities and warrant discounts - Management concluded that the company's disclosure controls and procedures were not effective as of the end of the period[217](index=217&type=chunk) - A material weakness was identified due to a material audit adjustment for derivative liabilities and warrant discounts with convertible notes[221](index=221&type=chunk) - Due to the material weakness, management concluded that its internal control over financial reporting (ICFR) was not effective as of March 31, 2025[221](index=221&type=chunk)[222](index=222&type=chunk) Part III [Directors, Executive Officers, and Corporate Governance](index=34&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%2C%20and%20Corporate%20Governance) This section provides biographies for executive officers and the eight-member Board of Directors, which includes a majority of independent directors and has established Audit, Compensation, and Nominating committees, along with a Code of Ethics - The Board of Directors has **six** independent members, constituting a majority, in compliance with Nasdaq rules[241](index=241&type=chunk) - The company has an Audit Committee, Compensation Committee, and Nominating Committee, all composed of independent directors[243](index=243&type=chunk) - A Code of Ethics has been adopted that applies to the board, executive officers, and employees[244](index=244&type=chunk) [Executive Compensation](index=38&type=section&id=Item%2011.%20Executive%20Compensation) This section details compensation for Named Executive Officers, including CEO John Lai (**$493,279**) and CFO Garry Lowenthal (**$491,170**) for fiscal 2025, and notes executive changes including the termination of the COO Summary Compensation Table (Fiscal 2025) | Name and Principal Position | Year | Salary ($) | Bonus ($) | Stock Awards ($) | All Other Comp ($) | Total ($) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | John Lai, CEO and President | 2025 | **$166,667** | **$25 thousand** | **$297,700** | **$3,912** | **$493,279** | | Garry Lowenthal, CFO | 2025 | **$200 thousand** | **$25 thousand** | **$257,950** | **$8,220** | **$491,170** | | Randall Meyer, COO | 2025 | **$153,750** | — | — | **$13,008** | **$166,758** | - Garry Lowenthal was appointed CFO on March 8, 2024, with an annual salary of **$200 thousand**[281](index=281&type=chunk) - Randall Meyer's position as Chief Operating Officer was eliminated, and his employment was terminated on January 31, 2025[282](index=282&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=44&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) As of July 10, 2025, the company had **24,388,731** shares outstanding, with directors and executive officers owning **14.74%** and two external shareholders owning over **5%** Beneficial Ownership as of July 10, 2025 | Name of Beneficial Owner | Beneficial Ownership (%) | | :--- | :--- | | John Lai (CEO) | **7.12%** | | All Directors and Executive Officers as a Group (9 Persons) | **14.74%** | | Alan Sarroff | **23.13%** | | Stanley Cruden | **9.93%** | [Certain Relationships and Related Transactions and Director Independence](index=46&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%20And%20Director%20Independence) This section details a **$180 thousand** settlement with former employee David Masters and a prior escrow agreement with CEO John Lai for share release - The company settled threatened litigation with former employee and director David Masters for a one-time payment of **$180 thousand**[291](index=291&type=chunk)[292](index=292&type=chunk) - A prior escrow agreement with CEO John Lai resulted in the release of **254,018** shares to him in August 2021 after the company met specific financing and Nasdaq listing conditions[293](index=293&type=chunk) [Principal Accounting Fees and Services](index=47&type=section&id=Item%2014.%20Principal%20Accounting%20Fees%20and%20Services) The company's principal accountants were Stephano Slack LLC for FY2025 and Assurance Dimensions for FY2024, with audit fees of **$47 thousand** and **$34,486** respectively, and all services pre-approved by the Audit Committee Audit Fees by Fiscal Year | Fiscal Year | Principal Accountant | Audit Fees | | :--- | :--- | :--- | | 2025 | Stephano Slack LLC | **$47,000** | | 2024 | Assurance Dimensions | **$34,486** | - The Audit Committee's policy is to pre-approve all audit and permissible non-audit services, and **100%** of all services were pre-approved in fiscal 2025 and 2024[300](index=300&type=chunk) Part IV [Exhibits, Financial Statement Schedules](index=49&type=section&id=Item%2015.%20Exhibits%2C%20Financial%20Statement%20Schedules) This section lists all exhibits filed with the Form 10-K, including corporate documents, employment agreements, and required certifications from executive officers - Lists key corporate documents, including employment agreements for executive officers, the 2020 Equity Compensation Plan, and distribution services agreements[304](index=304&type=chunk)[306](index=306&type=chunk) - Includes required certifications from the Principal Executive Officer and Principal Financial Officer pursuant to the Sarbanes-Oxley Act[306](index=306&type=chunk) Financial Statements and Supplementary Data [Report of Independent Registered Public Accounting Firm](index=53&type=section&id=Report%20of%20Independent%20Registered%20Public%20Accounting%20Firm) The report includes opinions from two independent auditors, both expressing substantial doubt about the company's ability to continue as a going concern due to recurring negative cash flows, net losses, and a significant accumulated deficit - The auditor for the fiscal year 2025, Stephano Slack LLC, expressed substantial doubt about the Company's ability to continue as a going concern due to negative cash flows from operations[317](index=317&type=chunk) - The auditor for the fiscal year 2024, Assurance Dimensions, also expressed substantial doubt about the Company's ability to continue as a going concern due to recurring losses and an accumulated deficit[325](index=325&type=chunk) [Consolidated Financial Statements](index=56&type=section&id=Consolidated%20Financial%20Statements) The consolidated financial statements show a net loss of **($8.40 million)** in FY2025, an improvement from **($11.0 million)** in FY2024, with total assets increasing to **$9.34 million** and total liabilities to **$5.12 million** Consolidated Balance Sheets (as of March 31) | (in thousands) | 2025 | 2024 | | :--- | :--- | :--- | | **Assets** | | | | Total Current Assets | **$5,610** | **$1,042** | | Total Assets | **$9,339** | **$3,115** | | **Liabilities & Equity** | | | | Total Current Liabilities | **$4,317** | **$1,412** | | Total Liabilities | **$5,120** | **$2,429** | | Total Stockholders' Equity | **$4,219** | **$686** | Consolidated Statements of Operations (for the Year Ended March 31) | (in thousands) | 2025 | 2024 | | :--- | :--- | :--- | | Revenues | **$1,133** | **$969** | | Gross Profit | **$995** | **$867** | | Total Operating Expenses | **$9,051** | **$11,488** | | Operating Loss | **($8,056)** | **($10,621)** | | Net Loss | **($8,399)** | **($10,955)** | | Net Loss Per Share | **($0.41)** | **($0.78)** | Consolidated Statements of Cash Flows (for the Year Ended March 31) | (in thousands) | 2025 | 2024 | | :--- | :--- | :--- | | Net Cash Used In Operating Activities | **($5,322)** | **($7,420)** | | Net Cash Used in Investing Activities | **($563)** | **($309)** | | Net Cash Provided by Financing Activities | **$6,026** | **$7,341** | | Net increase (decrease) in Cash | **$140** | **($388)** | | Cash at End of the Year | **$228** | **$87** | [Notes to Consolidated Financial Statements](index=61&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) The notes detail revenue concentration, accounting for convertible notes and derivative liabilities, stock-based compensation, lease obligations, going concern uncertainty, and a **$44.3 million** net operating loss carryforward, with subsequent financing events - For FY2025, revenue from key distributors was: MWI (**38%**), Vedco (**26%**), Clipper (**17%**), and Covetrus (**4%**)[361](index=361&type=chunk)[363](index=363&type=chunk)[365](index=365&type=chunk)[366](index=366&type=chunk) - The company entered into a five-year exclusive licensing agreement with VetStem, Inc. in February 2025 for a total fee of **$2 million**, paid with cash, stock, and future payments[385](index=385&type=chunk) - As of March 31, 2025, the company had total convertible notes payable of **$1.77 million**. Certain notes contained embedded conversion features that were bifurcated and accounted for as derivative liabilities with a fair value of **$448,089**[397](index=397&type=chunk)[399](index=399&type=chunk) - The company has a net operating loss carryforward of approximately **$44.3 million** as of March 31, 2025, but a full valuation allowance has been recorded against the resulting deferred tax asset[454](index=454&type=chunk) - Subsequent to year-end, in May and June 2025, the company received the remaining **$4.4 million** from its Series B Preferred Stock financing[464](index=464&type=chunk)

Financial Data and Key Metrics Changes - PetVivo reported a record revenue of $1.1 million for fiscal year 2025, reflecting a 17% increase compared to the previous year [4][7] - Gross profit totaled $995,000, representing a gross margin of 87.8%, which is a slight decrease from 89.5% in fiscal year 2024 [8] - Operating expenses decreased by 21% to $9.1 million, primarily due to a strategic cost reduction program [8] - The net loss improved by 27% to $8 million, or $0.39 per share, compared to a net loss of $11 million, or $0.78 per share in fiscal year 2024 [9] Business Line Data and Key Metrics Changes - The expanding nationwide distributor network contributed $958,000 in sales, accounting for 86% of total revenues, with a 31% increase in their combined sales [7][8] - The company is focusing on increasing its market share in the companion animal segment while maintaining growth in the equine market [4][5] Market Data and Key Metrics Changes - The veterinary healthcare market in Mexico is projected to grow at a 6% CAGR, reaching nearly $2 billion by 2026, presenting a significant opportunity for PetVivo [3] - The U.S. animal health market is projected to double to $11.3 billion by 2030, providing substantial growth potential for the company [18] Company Strategy and Development Direction - The company aims to drive greater adoption of its products, particularly Spring and Precise PRP, by increasing awareness among key decision-makers in the veterinary field [11][12] - Strategic partnerships and collaborations, such as with Digital Landia and Commonwealth Markets, are expected to enhance product visibility and market penetration [16][24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing strong sales momentum and market penetration expected in fiscal year 2026 [17] - The company is well-positioned to accelerate growth and expand into high-growth markets, driven by trends in pet ownership and advancements in veterinary care [18][19] Other Important Information - The company filed for an extension for its Form 10-K filing to allow auditors to complete their review, meaning all financial results presented are preliminary and unaudited [2][7] - The company raised net proceeds of $4.7 million from a Series B convertible preferred stock offering to support growth strategies [10] Q&A Session Summary Question: How much dilution do you expect from the conversion of the Series B preferred? - Management indicated that the conversion is on a one-to-one basis, with an additional 5 million shares expected if fully converted [30][32] Question: What is the average price per vial of the Spring injection that veterinarians are charging for canines? - The average charge by veterinary doctors is around $800 per joint, with variations between $500 to $1,200 depending on the complexity of the issue [36] Question: Can you talk a little bit about the human trials and their projected outcomes? - Management discussed ongoing studies with BioPiezo, showing promising results in small and large animals, with potential applications in the human market for osteoarthritis [46]

Financial Data and Key Metrics Changes - PetVivo reported a revenue growth of 17% for fiscal year 2025, totaling a record $1,100,000, driven largely by an expanding nationwide distributor network [4][8] - Gross profit was $995,000, representing 87.8% of revenues, which is a decrease from 89.5% in fiscal year 2024 [9] - Operating expenses decreased by 21% to $9,100,000, primarily due to a strategic cost reduction and restructuring program [9] - Net loss improved by 27% to $8,000,000 or $0.39 per share, compared to a net loss of $11,000,000 or $0.78 per share in fiscal year 2024 [10] Business Line Data and Key Metrics Changes - The expanding distributor network contributed $958,000 in sales, accounting for 86% of total revenues [4][8] - The company is focusing on increasing its market share in the companion animal market while maintaining growth in the equine market [4][5] Market Data and Key Metrics Changes - The veterinary healthcare market in Mexico is projected to grow at a 6% CAGR, reaching nearly $2,000,000,000 by 2026 [3] - The U.S. animal health market is projected to double to $11,300,000,000 by 2030, providing significant growth opportunities [19] Company Strategy and Development Direction - The company aims to drive greater adoption of its products, particularly Spring and Precise PRP, by increasing awareness among key decision-makers [12] - Strategic partnerships and collaborations, such as with Digital Landia, are expected to enhance product visibility and market penetration [17][24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's position to accelerate growth and expand into high-growth markets [19] - The company anticipates strong sales momentum and market penetration in fiscal year 2026, supported by recent advancements and partnerships [18] Other Important Information - The company has strengthened its leadership team and commercial operations, appointing experienced executives to key positions [21][22] - A successful offering of $5,000,000 in Series B convertible preferred stock was completed to support growth strategies [11] Q&A Session Summary Question: How much dilution do you expect from the conversion of the Series B preferred? - The conversion is on a one-to-one basis, with an additional 5,000,000 shares expected if fully converted [28][30] Question: What is the average price per vial of the Spring injection that veterinarians are charging for canines? - The average charge is around $800 per joint, varying between $500 to $1,200 depending on the complexity of the problem [33][35] Question: Can you talk a little bit about the human trials and their projected path? - The company is excited about the results from small and large animal studies, with potential applications in the human market for osteoarthritis, which is valued at approximately $11,200,000,000 in the U.S. [43][44]

Core Insights - PetVivo Holdings, Inc. reported a 17% increase in revenues to a record $1.1 million for the fiscal year ending March 31, 2025, driven by expansion into the companion animal market and strong sales of its lead product, Spryng with OsteoCushion Technology [5][7][31] - The company has made significant operational improvements, including a 24% reduction in operating loss to $8.1 million and a 27% decrease in net loss to $8 million [5][12] - PetVivo has entered strategic partnerships and expanded its product offerings, including a licensing agreement for PrecisePRP and a collaboration with Digital Landia for AI solutions in veterinary care [24][27][29] Fiscal 2025 Financial Highlights - Revenues increased by 17% to $1.1 million, with national distributor network sales rising 31% to $958,000, representing 85% of total revenues [5][12] - Gross profit rose 15% to $995,000, with a gross margin of 87.8% [5][12] - Net cash used in operating activities decreased by 40% to $2.9 million compared to fiscal 2024 [5] Fiscal 2025 Operational Highlights - Spryng has been administered by over 1,000 veterinary clinics across all 50 states since its introduction in 2021 [5][9] - The company signed an exclusive licensing agreement with VetStem, Inc. to commercialize PrecisePRP, receiving positive feedback from veterinarians [24][5] - A strategic alliance with Digital Landia focuses on AI technology for animal behavior analysis, currently in beta testing [27][29] Management Commentary - The CEO highlighted the strong performance and productivity of the fiscal year, emphasizing the expansion into the companion animal market and the introduction of innovative products [7][8] - The company anticipates continued growth driven by new partnerships and technologies that enhance its product platform [8][31] Fiscal 2026 Outlook - For the fiscal year ending March 31, 2026, the company expects record growth and improved bottom line as it continues to expand the use of Spryng and other new products [32][31] - The U.S. animal health market is projected to double to $11.3 billion by 2030, providing significant growth opportunities for PetVivo [31]

Core Viewpoint - PetVivo Holdings, Inc. will hold a conference call on June 30, 2025, to discuss its financial results for the fiscal fourth quarter and year ended March 31, 2025 [1] Group 1: Conference Call Details - The conference call is scheduled for June 30, 2025, at 5:00 p.m. Eastern time [2] - A toll-free dial-in number and conference ID are provided for participants [2] - A replay of the webcast will be available after the conference call [3] Group 2: Company Overview - PetVivo Holdings, Inc. focuses on manufacturing, commercialization, and licensing of innovative medical devices and therapeutics for companion animals [4] - The company aims to leverage human therapies for companion animals in a capital and time-efficient manner [4] - PetVivo has a pipeline of products and holds a portfolio of twenty-one patents protecting its biomaterials and methods [5] Group 3: Key Products - The lead product, SPRYNG with OsteoCushion technology, is an intra-articular injection for managing lameness and joint-related afflictions in animals [5] - PrecisePRP is a first-in-class, off-the-shelf platelet-rich plasma product designed for veterinary use [5]

Company Highlights - PetVivo focuses on the estimated $11 billion companion animal veterinary care and product sales market[8, 103] - Spryng, with OsteoCushion Technology, is designed to restore joint mechanics for managing lameness and joint-related issues like osteoarthritis[8, 103] - The company has a strong IP portfolio with twelve U S and nine foreign issued patents[8, 22, 84, 103] Spryng Technology and Clinical Data - Spryng utilizes biocompatible materials similar to natural cartilage components to improve joint function[18] - Clinical studies show that 77.8% of dogs experienced a greater than 3-point reduction in total CBPI score after Spryng treatment for hip osteoarthritis[64] - Another canine stifle OA/CCL disease study showed that 55% of dogs had improved mGCPS at 28 days, and by 84 days, responders improved in VLS and LOAD scores by 50%[67] - Tolerance studies in both dogs and cats confirmed the excellent safety profile of Spryng, with no abnormalities observed in physical exams, CBC, or chemistry analysis after injections[58, 61] Market and Distribution - The U S pet spend increased from $123.6 billion in 2021 to $138 billion in 2022, with veterinary care and products being a leading growth driver at $11 billion in 2021[91] - PetVivo has distribution agreements with MWI and Covetrus, and engagements with wholesale partners like Clipper Distributing Company and Vedco, Inc[8, 49, 103]

Core Viewpoint - PetVivo Holdings, Inc. has successfully completed a $5 million equity financing, which will support the commercialization of its innovative veterinary medical products, including SPRYNG and PrecisePRP [1][4] Group 1: Financing Details - The company received $1 million from the full exercise of the remaining shares in a purchase option, completing the total offering of $5 million [1] - The purchase price for one share of Series B Convertible Preferred Stock was set at $1, with a conversion rate of one share for one common stock [1] - Prior to this exercise, the company had already received $4 million from the offering [1] Group 2: Product Information - SPRYNG is an intra-articular injectable device that utilizes OsteoCushion Technology, designed to manage joint pain and improve joint mechanics in animals [2][7] - PrecisePRP is a first-in-class, off-the-shelf platelet-rich plasma product that provides a consistent dose of 4 billion platelets per vial, designed for easy use by veterinarians without the need for blood draws [3][7] Group 3: Company Overview - PetVivo Holdings focuses on the manufacturing and commercialization of innovative medical devices and therapeutics for companion animals, leveraging human therapies for efficient treatment [6] - The company holds a portfolio of 21 patents protecting its biomaterials and products, indicating a strong intellectual property position [7]

Core Insights - PetVivo Holdings, Inc. has received $3 million from a partial exercise of a purchase option related to a $5 million equity financing offering, bringing the total received to $4 million to date [1][4] - The funds will be used to commercialize the company's key products, SPRYNG with OsteoCushion Technology and PrecisePRP, aimed at treating joint pain in companion animals [2][4] - SPRYNG is an injectable veterinary medical device that promotes joint health by integrating with animal tissue, while PrecisePRP is a convenient, off-the-shelf platelet-rich plasma product for intra-articular administration [3][8] Financial Overview - The offering consists of 5 million shares of Series B Convertible Preferred Stock priced at $1 per share, with a conversion rate of one preferred share to one common share [1] - An additional $1 million of the purchase option remains available for exercise by the investor [1] Product Details - SPRYNG utilizes sterilized extracellular matrix microparticles to restore joint mechanics and manage conditions like osteoarthritis [2] - PrecisePRP offers a consistent dose of 4 billion platelets per vial, designed for ease of use without the need for blood draws or centrifugation [3][8] Strategic Positioning - The investment strengthens the company's financial position and supports its growth strategy, including the expansion of its product portfolio [4] - PetVivo aims to leverage human medical therapies for companion animals, benefiting from a faster timeline to market compared to pharmaceuticals [6][7]