Core Insights - PetVivo Holdings, Inc. has appointed Eric Samples as the new Field Veterinary Business Development Manager, focusing on Ohio, Pennsylvania, and the Baltimore/DC area [1][2] - Eric Samples brings over 25 years of experience in human and animal health sales, having previously worked with Covetrus and other major pharmaceutical companies [2][5] - The company aims to enhance awareness of its flagship product, Spryng™ with OsteoCushion™ technology, which is designed to manage lameness and joint-related issues in animals [2][3] Company Overview - PetVivo Holdings, Inc. is a biomedical device company that specializes in innovative medical devices and therapeutics for companion animals [4] - The company has a strategy focused on developing and commercializing human therapies for companion animals efficiently, allowing for quicker market entry compared to human pharmaceuticals [4] - PetVivo has a robust pipeline of products and holds a portfolio of 21 patents protecting its biomaterials and production processes [5] Product Information - The flagship product, Spryng™ with OsteoCushion™ Technology, is an intra-articular injectable aimed at managing lameness and joint-related afflictions, including osteoarthritis, in various animals [5]

Core Viewpoint - PetVivo Holdings, Inc. will hold a conference call on August 14, 2024, to discuss its fiscal first quarter results for the period ending June 30, 2024, with financial results to be released prior to the call [1]. Company Overview - PetVivo Holdings, Inc. is a biomedical device company focused on innovative medical devices and therapeutics for companion animals, aiming to develop human therapies for animals efficiently [4]. - The company has a robust pipeline of products and holds a portfolio of 21 patents protecting its biomaterials and production processes [5]. Product Information - The flagship product, Spryng™ with OsteoCushion™ Technology, is designed for managing lameness and joint-related issues, including osteoarthritis, in cats, dogs, and horses [5].

"In fiscal 2024, we reported strong financial and operational progress, including revenues up 6% to $969,000," commented PetVivo CEO, John Lai. "Our revenue growth was driven largely by our expanded distributor network, with sales of Spryng™ by distributors up 15% to $732,000. This helped drive our gross profit up 6% to $740,000, with our gross margins improving 40 basis points to 76.3%. "Also during the year, we developed clinical data on the safety and efficacy of Spryng, increased distribution through th ...

Market Information Dividends From January 2024 to March 2024, the Company issued 324,000 shares of common stock to four consultants for services provided to the Company valued at $333,660. All of these transactions described above were exempt from registration in reliance on Section 4(a)(2) of the Securities Act of 1933, as amended, as a transaction by an issuer not involving a public offering. The purchasers of securities in each of these transactions represented their intention to acquire securities for i ...

Financial Highlights - Revenues increased by 6% to $969,000, primarily driven by sales of the Spryng™ with OsteoCushion™ technology [10][12] - Gross profit rose by 6% to $740,000, with gross margin improving by 40 basis points to 76.3% [10][17] - Operating expenses increased by 20% to $11.4 million, attributed to higher general and administrative expenses and research and development costs [6][41] - Net loss totaled $11.0 million or $(0.78) per share, compared to a net loss of $8.7 million or $(0.85) per share in the previous year [30][41] Operational Highlights - The company expanded its distribution network, achieving distribution of Spryng to over 700 veterinary clinics across 50 states [11] - Sales to distributors increased by 15% to $732,000, contributing significantly to revenue growth [10][12] - The number of pets insured in North America rose by 20.9% to over 6 million, enhancing the affordability of pet care [6] Management Commentary - The management emphasized the positive clinical data supporting the safety and efficacy of Spryng for treating osteoarthritis in companion animals [4][14] - The company is positioning itself for future success by hiring new sales and marketing leadership and expanding personnel to support distribution relationships [5][12] - The management expressed optimism about the growth potential in the $5.7 billion U.S. Animal Health Market, projected to double to $11.3 billion by 2030 [15] Future Outlook - For fiscal 2025, the company anticipates net revenue of approximately $1.5 million to $2.0 million, representing growth of 50% to 100% over the prior year [16] - Plans include further building technical service teams and completing additional clinical studies in equine, canine, and feline companion animals [28]

PetVivo management will host the presentation, followed by a question-and-answer period. If you require any assistance connecting to the call, please contact CMA at 1-949-432-7566. For more information about PetVivo and its revolutionary Spryng with OsteoCushion Technology, email info1@petvivo.com or visit petvivo.com or sprynghealth.com. The foregoing information regarding PetVivo Holdings, Inc. (the "Company") may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act ...

MINNEAPOLIS, MN, US, June 06, 2024 (GLOBE NEWSWIRE) -- PetVivo Holdings, Inc. (OTC: PETV, PETVW), a leading biomedical company delivering innovative therapeutic medical devices for equines and companion animals, has appointed Bryan Monninger to vice president of sales. In this new position, he will lead the PetVivo's sales and distribution teams, with a focus on expanding the market adoption of the company's innovative animal osteoarthritis medical product, Spryng™ with OsteoCushion™ Technology. Monninger b ...

Financial Data and Key Metrics Changes - The company reported revenues of $596,000 for the third quarter of fiscal year 2024, an increase from $510,000 in the same period of fiscal year 2023 [4] - Net revenue from shipments of Spryng to MWI Animal Health was $440,000, down from $457,000 in the third quarter of fiscal year 2023 [4] - The company raised $1,248,000 from the sale of approximately 1,386,000 units on February 2, 2024 [9] Business Line Data and Key Metrics Changes - Revenue from shipments to Covetrus was $106,000, while direct sales to veterinary clinics generated $49,000, compared to $54,000 in the third quarter of fiscal year 2023 [25] Market Data and Key Metrics Changes - There has been a strong increase in awareness of the Spryng product among small animal veterinary doctors, attributed to positive clinical study results [11] - The company has secured distribution agreements with the top two distributors in the United States, enhancing market presence [12] Company Strategy and Development Direction - The company plans to increase its focus on social media to highlight clinical study results and positive outcomes from Spryng [20] - The acquisition of clinical data proving the safety and efficacy of Spryng is a priority, with additional studies planned for 2024 [31] Management's Comments on Operating Environment and Future Outlook - Management noted that the clinical trial results demonstrate Spryng as a reasonable non-invasive alternative for patients with cranial cruciate ligament disease [26] - The company anticipates releasing final data from ongoing studies in the fourth quarter of 2024 [18] Other Important Information - The final results of a clinical study evaluating Spryng's benefits were presented at a veterinary conference, showing significant improvement in dogs injected with Spryng [5] - The company has completed data accumulation for a study on managing hip joint osteoarthritis, with results to be presented at an upcoming conference [18] Q&A Session Summary - There were no questions from participants during the Q&A session, and the call concluded with a focus on getting Spryng into the market to assist companion animals suffering from osteoarthritis [13]

[PART I. FINANCIAL INFORMATION](index=4&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) This section presents the company's financial statements, notes, and management's analysis of its financial condition and operations [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The company presents its unaudited consolidated financial statements for the period ended December 31, 2023, including balance sheets, income statements, and cash flows Consolidated Balance Sheet Highlights (Unaudited) | Account | Dec 31, 2023 | Mar 31, 2023 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $80,085 | $475,314 | | Total Current Assets | $1,492,884 | $1,423,980 | | Total Assets | $3,629,802 | $2,438,952 | | **Liabilities & Equity** | | | | Total Current Liabilities | $1,662,120 | $1,453,680 | | Total Liabilities | $2,734,702 | $1,713,927 | | Total Stockholders' Equity | $895,100 | $725,025 | Consolidated Statements of Operations Highlights (Unaudited) | Metric | Three Months Ended Dec 31, 2023 | Nine Months Ended Dec 31, 2023 | | :--- | :--- | :--- | | Revenues | $595,891 | $920,440 | | Gross Profit | $412,804 | $514,170 | | Operating Loss | $(2,133,624) | $(7,971,544) | | Net Loss | $(1,749,848) | $(8,304,578) | | Net Loss Per Share | $(0.12) | $(0.64) | Consolidated Statements of Cash Flows Highlights (Unaudited, Nine Months Ended Dec 31) | Cash Flow Activity | 2023 | 2022 | | :--- | :--- | :--- | | Net Cash Used In Operating Activities | $(5,895,484) | $(5,500,247) | | Net Cash Used in Investing Activities | $(279,802) | $(293,851) | | Net Cash Provided by Financing Activities | $5,780,057 | $61,804 | | **Net Decrease in Cash** | **$(395,229)** | **$(5,732,294)** | [Note 1: Summary of Significant Accounting Policies and Organization](index=9&type=section&id=NOTE%201%20-%20SUMMARY%20OF%20SIGNIFICANT%20ACCOUNTING%20POLICIES%20AND%20ORGANIZATION) The company commercializes medical devices and biomaterials for animals, with revenue primarily from product sales to distributors - The company's primary business is the commercialization of its lead product, Spryng™, for treating joint afflictions in dogs and horses[25](index=25&type=chunk) - A significant portion of revenue comes from distribution agreements, with MWI accounting for **65%** and Covetrus for **12%** of total revenues for the nine months ended Dec 31, 2023[47](index=47&type=chunk)[49](index=49&type=chunk) [Note 9: Commitments and Contingencies](index=16&type=section&id=NOTE%209%20%E2%80%93%20COMMITMENTS%20AND%20CONTINGENCIES) The company has operating lease obligations and recently settled a legal dispute with a former employee - As of December 31, 2023, the company has operating lease liabilities with total undiscounted cash flows amounting to **$1,381,592**[82](index=82&type=chunk) - A legal matter with a former employee was settled for **$180,000**, with the expense recorded in September 2023 and paid in October 2023[84](index=84&type=chunk)[85](index=85&type=chunk) [Note 10: Going Concern](index=17&type=section&id=NOTE%2010%20%E2%80%93%20GOING%20CONCERN) Significant net losses and negative cash flow raise substantial doubt about the company's ability to continue operations - The company incurred a net loss of **$8.3 million** for the nine months ended Dec 31, 2023, and had an accumulated deficit of **$80.1 million**[87](index=87&type=chunk) - These conditions raise substantial doubt about the company's ability to continue as a going concern, which is dependent on raising additional capital or achieving profitability[87](index=87&type=chunk)[88](index=88&type=chunk) [Note 11: Stockholders' Equity](index=18&type=section&id=NOTE%2011%20%E2%80%93%20STOCKHOLDERS%27%20EQUITY) The company details equity activities, including convertible debenture conversions and capital raises through stock and warrant sales - In July 2023, the company issued **$550,000** in convertible debentures, which were converted in August 2023 into **385,000 shares** of common stock and warrants to purchase **385,000 shares**[95](index=95&type=chunk)[96](index=96&type=chunk) - The conversion of debentures resulted in a recognized loss on extinguishment of debt of **$534,366**[97](index=97&type=chunk) - The company raised net proceeds of **$1.78 million** in August 2023 and **$317,000** in December 2023 through sales of common stock and warrants[98](index=98&type=chunk)[99](index=99&type=chunk) [Note 12: Subsequent Events](index=24&type=section&id=NOTE%2012%20%E2%80%93%20SUBSEQUENT%20EVENTS) Subsequent to the quarter, the company raised $1.248 million through the sale of common stock and warrants - On February 2, 2024, the company raised **$1,248,000** by selling **1,386,469 units**, each comprising one share and one warrant[117](index=117&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=25&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the commercialization of Spryng™, financial results, and the need for additional capital to fund operations [Current Business Operations](index=25&type=section&id=CURRENT%20BUSINESS%20OPERATIONS) The company focuses on commercializing Spryng™ for animal joint afflictions, supported by distribution agreements and clinical studies - The company's lead product, Spryng™, treats joint afflictions in dogs and horses and is protected by a portfolio of **twenty-two patents**[118](index=118&type=chunk) - In December 2023, the distribution agreement with MWI was changed from exclusive to non-exclusive, and a new non-exclusive distribution agreement was signed with Covetrus North America[129](index=129&type=chunk) - The company is conducting multiple clinical studies with Colorado State University and Ethos Veterinary Health to support product adoption and expand distribution channels, with expected completions in 2024[130](index=130&type=chunk) [Results of Operations](index=27&type=section&id=RESULTS%20OF%20OPERATIONS) Revenues increased for both the three and nine-month periods, but operating loss widened due to increased commercialization expenses Comparison of Results for the Three Months Ended December 31 | Metric | 2023 | 2022 | Change | | :--- | :--- | :--- | :--- | | Revenues | $595,891 | $510,109 | +16.8% | | Gross Profit | $412,804 | $286,422 | +44.1% | | Operating Loss | $(2,133,624) | $(2,318,818) | -8.0% | | Net Loss | $(1,749,848) | $(2,311,618) | -24.3% | Comparison of Results for the Nine Months Ended December 31 | Metric | 2023 | 2022 | Change | | :--- | :--- | :--- | :--- | | Revenues | $920,440 | $791,563 | +16.3% | | Gross Profit | $514,170 | $366,697 | +40.2% | | Operating Loss | $(7,971,544) | $(6,404,479) | +24.5% | | Net Loss | $(8,304,578) | $(6,388,635) | +30.0% | [Liquidity and Capital Resources](index=29&type=section&id=LIQUIDITY%20AND%20CAPITAL%20RESOURCES) The company faces a working capital deficit and relies on future capital raises to fund ongoing operations and address going concern risk - The company had a working capital deficit of **$169,236** as of December 31, 2023[151](index=151&type=chunk) - Net cash used in operating activities for the nine months ended Dec 31, 2023, was **$5.9 million**, primarily due to the net loss[153](index=153&type=chunk) - Management believes existing cash, supplemented by a February 2024 financing, is sufficient for at least the next two months, but acknowledges the need to raise more capital[152](index=152&type=chunk)[161](index=161&type=chunk) [Qualitative and Quantitative Disclosures About Market Risk](index=30&type=section&id=Item%203.%20Qualitative%20and%20Quantitative%20Disclosures%20About%20Market%20Risk) This disclosure is not required as the company qualifies as a smaller reporting company - As a smaller reporting company, PetVivo Holdings, Inc. is not required to provide this information[166](index=166&type=chunk) [Controls and Procedures](index=31&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of the end of the period - The principal executive officer and principal financial officer concluded that the company's disclosure controls and procedures were effective as of December 31, 2023[168](index=168&type=chunk) - There were no significant changes in internal control over financial reporting during the quarter[169](index=169&type=chunk) [PART II. OTHER INFORMATION](index=31&type=section&id=PART%20II.%20OTHER%20INFORMATION) This section covers legal proceedings, risk factors, equity sales, and other regulatory disclosures [Legal Proceedings](index=31&type=section&id=Item%201.%20Legal%20Proceedings) The company may be involved in ordinary course legal proceedings and refers to Note 9 for a specific settled dispute - The company settled a legal dispute with a former employee, as detailed in Note 9 of the financial statements[171](index=171&type=chunk)[84](index=84&type=chunk) [Risk Factors](index=31&type=section&id=Item%201A.%20Risk%20Factors) A significant new risk factor involves a Nasdaq delisting notice for failing to meet stockholders' equity requirements - The company received a delisting notice from Nasdaq on November 17, 2023, for not meeting the minimum stockholders' equity requirement of **$2.5 million**[173](index=173&type=chunk) - An appeal hearing was set for February 13, 2024, and a potential delisting could impair the stock's liquidity and the company's ability to raise capital[173](index=173&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=32&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company engaged in several unregistered sales of common stock and warrants to investors and issued equity for services - In October and December 2023, the company sold a total of **477,224 shares** of common stock and issued warrants to investors for proceeds totaling **$517,000**[174](index=174&type=chunk) - The company issued an aggregate of **50,004 shares** of restricted common stock to a consultant for services rendered from October to December 2023[175](index=175&type=chunk) - In December 2023, options to purchase **195,700 shares** were granted to the Board of Directors as compensation[176](index=176&type=chunk) [Defaults Upon Senior Securities](index=32&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities during the period - None[179](index=179&type=chunk) [Mine Safety Disclosure](index=32&type=section&id=Item%204.%20Mine%20Safety%20Disclosure) This disclosure is not required for the company - Not required[180](index=180&type=chunk) [Other Information](index=32&type=section&id=Item%205.%20Other%20information) The company reported no other information for this item - None[181](index=181&type=chunk) [Exhibits](index=33&type=section&id=Item%206.%20Exhibits) The report includes key exhibits such as new and amended distribution agreements and required certifications - Key exhibits filed include a new Distribution Agreement with Covetrus North America and a First Amendment to the Distribution Services Agreement with MWI Veterinary Supply Company[183](index=183&type=chunk)

PetVivo Holdings, Inc. (OTC:PETV) Q2 2024 Earnings Conference Call November 14, 2023 5:00 PM ET Company Participants John Dolan - Chief Business Development Officer & General Counsel John Lai - Chief Executive Officer & President Bob Folkes - Chief Financial Officer Conference Call Participants Operator Welcome, everyone, to the PetVivo Holdings, Inc., 2024 Fiscal Year Second Quarter Earnings Report. This is November 14, 2023, and I will now hand over to Mr. John Dolan to start the call. John Dolan Thank yo ...