Q2 2025 PetVivo Holdings Inc Earnings Call
Unknown Executive: throughout the meeting.
Unknown Executive: We're going to wait at least one minute to let other people join. So we'll be back on in a minute.
Going to wait at least one minutes, let other people join.
So we'll be back on in a minute.
Okay.
Speaker Change: Yeah.
Speaker Change: Thanks again.
Unknown Executive: Let's begin. Good afternoon, everyone.
Speaker Change: Good afternoon, everyone. Thank you for joining us today to discuss pet peeve always resolved for its fiscal second quarter ended September 32024.
Unknown Executive: Thank you for joining us today to discuss PetVivo's results for its fiscal second quarter ended September 30, 2024.
Unknown Executive: Hosting the call today is our Chief Executive Officer, John Lai, our Chief Financial Officer, Garry Lowenthal, and myself, John Dolan, PetVivo's Chief Business Development Officer and General Counsel. Following our remarks, we'll open the call to your questions.
Overseeing the call today is our Chief Executive Officer, John Way, our Chief Financial Officer, Gary Low end call and myself, John Dolan had he was chief Chief business Development Officer and General Counsel.
Speaker Change: Following our remarks, we'll open the call to your questions then.
Unknown Executive: Then before we conclude today's call, I'll provide some important cautions regarding the forward-looking statements made during the call. I'd like to remind everyone that today's call is being recorded and it will be made available for telecom replay per the instructions in today's press release that is available in the investor relations section of our website.
Speaker Change: Then before we conclude today's call I'll provide some important cautions regarding forward looking statements made during the call.
Speaker Change: I'd like to remind everyone that today's call is being recorded and will be made available for telecom replay per the instructions in today's press release that is available in the Investor Relations section of our website.
Speaker Change: Before we provide the training natural details for the quarter I would like to first provide an introductory overview and a few highlights fidelity's, new pet Dietel, who have joined us today.
John Dolan: Before we provide the financial details for the quarter, I would like to first provide an introductory overview and a few highlights for those new to PetVivo who have joined us today. In our fiscal second quarter of 2025, we achieved strong financial and operational progress on a number of fronts as we continue to advance the rollout of our flagship product that promotes the restoration of proper joint mechanics spring with Osseocushion technology. This injectable intra-articular veterinary device is composed of patented biocompatible microparticles derived from natural sources. The novel technology is a result of years of R&D and independent clinical studies.
Speaker Change: In our fiscal second quarter of 2025, we achieved strong financial and operational progress on a number of fronts. As we continue to advance the rollout of our flagship product that promotes the restoration of copper joint mechanics strength with axial Cushing technology.
Speaker Change: This injectable each articulate veterinary device is composed of patented biocompatible micro particles derived from natural resources did Apple technology, Israel result of years of R&D and independent clinical studies.
John Dolan: Spring's unique, lubricious, and viscoelastic characteristics address a prevalent unmet medical need to reduce the joint pain and discomfort caused by osteoarthritis and poor joint biomechanics. Afflictions that affect millions of pets and horses worldwide. More than 80% of dogs and cats and more than half of all horses experience this at some time during their lifetime. Springs, porous, and spongy microparticles are specially designed to absorb and release synovial fluid in the joint in response to mechanical forces. In this way, they mimic the physical properties of natural cartilage. Most importantly, SPRING has been clinically shown to go beyond the simple masking of symptoms to address the common root cause of lameness, which is missing or damaged cartilage.
Speaker Change: Springfield niche lubricious and visco elastic characteristics address a prevalent unmet medical need to reduce the joint pain and discomfort caused by osteoarthritis amcor joined bio mechanics.
Speaker Change: Afflictions that affect millions of pets and horses worldwide.
Speaker Change: More than 80% of dogs, and cats and more than half of all horses experience. This at some time during their lifetime.
Speaker Change: Springs porous spongy micro particles are especially designed to absorb and releasing OBL fluid in the joint in response to mechanical forces in this way they mimic the physical properties and natural cartilage most.
Speaker Change: Most importantly spring has been clinically shown to go beyond the simple masking of symptoms to address the common root cause of lameness, which is missing or damaged cartilage.
John Dolan: As the word continues to spread amongst veterinary practices and from our presentations at leading veterinary conferences about these breakthrough medical benefits, we are seeing increased demand from our distribution network. In fact, our sequential revenue growth of 62% in the second fiscal quarter was driven largely by substantial increases in distributor sales, which are up 147% or $101,000. sequentially, and up to 24% or $33,000 over the past year. And these numbers continue to climb. Meanwhile, we've been able to maintain our very favorable high gross margins of 89.5%. Earlier this year, our distribution of spring surpassed the major milestone of more than 800 clinics across all 50 states.
Speaker Change: That's the word continues to spread amongst the amongst veterinary practices and from our presentations at leading veterinary conferences about these breakthrough medical benefits. We are seeing increased demand from our distribution network.
Speaker Change: In fact, our sequential revenue growth of 62% in the second fiscal quarter was driven largely by substantial increases in distributor sales, which are up 147% or $101000 sequentially and up to 24% or $33000 over the <unk>.
Speaker Change: Last year and these numbers continue to climb.
Speaker Change: Meanwhile, we've been able to maintain our very favorable high gross margins of 89, 5%.
Speaker Change: Earlier this year, our distribution of spring surpassed a major milestone of more than 800 clinics across all 50 States. This has led to now more than 10000 dogs cats and horses that have experienced the benefits of spring nationwide.
John Dolan: This has led to now more than 10,000 dogs, cats, and horses that have experienced the benefits of spring nationwide. To further accelerate our growth since the beginning of last quarter, we have added highly experienced sales and marketing personnel to support our growing distribution relationship with market leaders, including MWI and Perpetra. They will also support our direct sales and marketing to leading veterinary clinics nationwide.
Speaker Change: To further accelerate our growth since the beginning of last quarter. We have added highly experienced sales and marketing personnel to support our growing distribution basin chip with market leaders, including M. Wi <unk>.
Speaker Change: They will also support our direct sales and marketing to leading veterinary clinics nationwide.
John Dolan: Now, before we get some more exciting developments and our outlook for the rest of the year, including comments from our Chief Executive Officer, John Lai, I would like to turn the call over to our CFO, Garry Lowenthal, to take us through our financial results for the quarter.
Speaker Change: Now before we get some more exciting developments and our outlook for the rest of the year, including comments from our Chief Executive Officer, John Lie I would like to turn the call over to our CFO, Gary Lowenthal to take us through our financial results for the quarter Gary.
Garry Lowenthal: Garry? Thanks, John. And good afternoon, everyone. Thank you for joining us today. As John mentioned, we saw a sequential revenue growth of 62%, which was largely driven by substantial increase in our distributor sales, which were made up of 147% or $101,000 sequentially, and up to 24% or $33,000 versus the same year-ago quarter. Our revenues in the fiscal second quarter compared to the same year-ago quarter decreased 3% to $201,000. The decrease was largely due to the decreased direct sales to veterinary clinics, which was partially offset by the increased sales via distributors. The distributor sales growth reflects how we have greatly expanded our distributor channel and how we have continued to lay the foundation for the greater adoption of our spring nationwide.
Thanks, Brad and good afternoon, everyone. Thank you for joining us today as Brian mentioned, we saw sequential revenue growth of 62%, which was largely driven by substantial increase in our distributor sales, which.
Speaker Change: Which were made up of 147% or $101000 sequentially and up to 24% or $33000 versus the same year ago quarter.
Speaker Change: Our revenues in the fiscal second quarter compared to the same year ago quarter decreased 3% to $201000. The decrease was largely due to the to the decreased direct sale to veterinary clinics, which was partially offset by the increased sales via distributors.
Speaker Change: The distributor sales growth reflects how we have greatly expanded our distributor channel and how we have continued to lay the foundation for the greater adoption of our spring nationwide.
Garry Lowenthal: Given the many operational changes and new marketing and sales staff onboarding processes during the quarter, we were pleased to keep revenue fairly even for the quarter versus a year ago. So we expect future quarters to be much stronger versus prior periods, now with these expanded new teams in place. Now for our gross profit in the first fiscal quarter, it totaled $180,000, or 89.5% of revenues as compared to $186,000, or the same 89.5% of revenues in the fiscal second quarter of 2024. Operating expenses totaled $2.4 million, decreasing 25% from the same fiscal quarter of 2024. This extraordinary expense reduction was due to a strategic company-wide reduction and restructuring program that decreased general administrative expenses by $425,000 versus the same year of a quarter.
Speaker Change: Given the many operational changes and new marketing and sales staff onboarding processes. During the quarter. We were pleased to keep revenue fairly even for the quarter versus a year ago, we expect future quarters to be much stronger versus prior period now with these expanded new teams in place now.
Now our gross profit in the second first fiscal quarter totaled $180000 or 89, 5% of revenues compared to 186000 or the same 89, 5% of revenues in the fiscal second quarter 2024.
Speaker Change: Operating expenses totaled $2 4 million decreasing 25% from the same fiscal quarter of 2024.
Speaker Change: This extraordinary expense reduction.
Speaker Change: <unk> strategic company wide reduction in restructuring program that decreased general and administrative expenses.
Speaker Change: $425000 versus the same year ago quarter.
Garry Lowenthal: It also reduced sales and market expenses by $458,000 compared to the year ago quarter. These decreases were partial offset by an increase in research and development. $106,000 due to additional clinical trials that will help support our future sales. Our net loss improved to $2.2 million, or $0.11 a loss per share, basic and diluted share from a net loss of $3.7 million, or $0.28 a share per basic and diluted share in the same year a quarter ago. The large expense reduction was due to a strategic corporate restructuring and a company-wide cost reduction program implemented in the first and second fiscal quarters of the year, continuing throughout the year.
Speaker Change: It also reduced sales and marketing expenses by $458000 compared to the year ago quarter.
Speaker Change: These decreases were partially offset by an increase in research and development.
Speaker Change: Of $106000 due to additional clinical trials that will help support our future sales.
Speaker Change: Our net loss improved to $2 2 million or 11, <unk> a loss per share basic and diluted share from a net loss of $3 7 million or 28 cents a share per basic and diluted share in the same year a quarter ago.
Speaker Change: Large expense reduction, but dude with strategic corporate restructuring and a companywide cost reduction program implemented in the first and second fiscal quarters near continuing throughout the year.
Garry Lowenthal: Operating expenses decreased by $1.6 million, or 27%, compared to the fiscal half of 2024. The expense reduction was due to a strategic company-wide cost reduction and restructuring program. We decreased G&A costs by $954,000, and sales and marketing we reduced by $866,000 versus the same year-ago quarter. The decreases were partially offset by an increase in research and development of $200,000 due to additional clinical trials.
Speaker Change: Operating expenses decreased by $1.6 million or 27% compared to the fiscal half of 2020 for the expense reduction was due to the strategic company wide cost reduction and restructuring program with decreased G&A cost by $954000 in sales and marketing.
Speaker Change: We reduced by $866000 versus the same year ago quarter.
The decreases were partially offset by an increase in research and development of $200000 due at additional clinical trials.
Garry Lowenthal: Now turn into the balance sheet and cash flow statement. Cash and cash equivalents totaled $126,000 at the end of September 30, 2024. Subsequent to the second quarter end, starting October 1st, the company raised additional net proceeds of $312,500, which helps keep us in a good position to execute our growth plan over the next several months. net cash use and operating activities decreased 34% or $800,000 for the quarter compared to the same fiscal quarter 2024 that we are more efficient with the use of our cash spending.
Now turning to the balance sheet and cash flow statement.
Speaker Change: Cash and cash equivalents totaled $126000 at the end of September 32024.
Subsequent to the second quarter and starting October one.
Speaker Change: <unk> raised additional net proceeds of $312500, which helps keep the keep us in a good position.
Speaker Change: Executing our growth plan over the next several months.
Speaker Change: Net cash used in operating activities decreased 34% or $800000 for the quarter compared to the same fiscal quarter 2024, if we're more efficient with units for cash spending.
Garry Lowenthal: This completes our financial summary for the quarter.
Speaker Change: This completes our financial summary for the quarter I'd.
John Dolan: I'd now like to turn the call back over to our Chief Business Development Officer and General Counsel, John Dolan. Sorry, everyone. I'm back again. Thank you very much, Garry. An important part of our strategy for increasing the adoption of spring is to create greater awareness of its benefits and effectiveness among key decision makers and on scale. Toward this end, we participated in three major veterinary conferences in the past quarter, as well as in a number of smaller conferences. In October, we exhibited at the ACPS Summit, and the American College of Veterinary Surgeons Surgery Summit, where we demonstrated spring to leading veterinarian surgeons.
I would now like to turn the call back over to our Chief business Development Officer, and General Counsel, John <unk> John.
Speaker Change: Yeah.
Speaker Change: Okay.
Speaker Change: Sorry, everyone I'm back again.
Speaker Change: Thank you very much Gary.
An important part of our strategy for increasing the adoption of spring is to create greater awareness of its benefits and effectiveness among key decision makers and on scale.
Speaker Change: Toward this end we participated in three major veterinary conferences in the past quarter as well as in a number of smaller conferences in.
Speaker Change: In October we exhibited at the a C B S.
Summit and the American College of Veterinary Surgeons surgery summit, where we demonstrated spring to leading veterinarian surgeons.
John Dolan: Both events were a great opportunity to demonstrate the advantages of spring, including the beneficial results we have seen when administered to horses and companion animals throughout the US. We also presented Spring to leading veterinary pain management experts at the International Veterinary Academy of Pain Management Pain Management Forum.
Speaker Change: Both events were great opportunity to demonstrate the advantages this spring, including the beneficial results, we have seen when administered horses in companion animals throughout the U S.
Speaker Change: We also presented spring to leading veterinary pain management experts at the International Veterinary Academy, a pain management pain management Forum.
John Dolan: Our veterinary medical advisor, Marie Bartling, spoke on the topic entitled, How Do We Elevate Our Strategy for Managing Osteoarthritis in Pets?, which was very well received.
Speaker Change: Our veterinary medical adviser Marie Bartley spoke on the top deck titled how do we elevate our strategy for managing osteoarthritis and pets, which was very well received.
John Dolan: Also, during the second quarter, we teamed up with Orthobiologic Innovations, a leader in R&D for regenerative and sports medicine. Together, we are pursuing new clinical trials for spring as well as product development and marketing. One trial that we did begin with them at this point is an elbow study treating dogs with osteoarthritis in the elbow. We anticipate that that study will be completed in either Q1 or Q2 of calendar year 2025. Studies such as these have been essential to our distribution strategy. This is because the large national and international distributors typically require university or independently conducted studies before considering a new product for inclusion in their catalogs.
Speaker Change: So during the second quarter, we teamed up with ortho biologic innovations a leader in R&D for regenerative and sports Medicine together, we are pursuing new clinical trials for spring as well as product development and marketing.
Speaker Change: One trial that we did began with them at this point is an elbow Scotty.
Speaker Change: Treating dogs with osteoarthritis in the Alpo, we anticipate that that study will be completed in either Q1 Q2 of calendar year 2025.
Speaker Change: Studies, such as these have been essential to our distribution strategy. This is because the large national and international distributors typically require university.
Speaker Change: Or independently conducted studies before considering a new product for inclusion in their categories.
John Dolan: Some have begun to do this already, and the additional studies will help with their veterinary and training courses for spring.
Speaker Change: Some of his agenda to do this already and the additional studies will help with their veterinarian training courses for spring.
Garry Lowenthal: Now I'd like to turn the call back over to our CFO, Garry Long. Thank you, John Dolan. As I indicated earlier, in our fiscal second quarter, we saw a strong sequential increase in our top line revenue, which was supported by increased sales to distributors as we expanded our nationwide distributor network. The slight decrease in revenue year over year was in part due to our continued transition from the smaller equine market to a larger companion animal market, with this including the onboarding of experienced sales professionals who will help us capture that market. Given how the companion animal market is a dramatically larger opportunity, we have realigned our sales force for pursuing it.
Speaker Change: Now I'd like to turn the call back over to our CFO Gary Lorenzo.
Gary Lorenzo: Thank you John as I indicated earlier in our fiscal second quarter, we saw a strong sequential increase in our top line revenue, which was supported by increased sales through distributors as we expanded our nationwide distributor network.
Gary Lorenzo: The slight decrease in revenue year over year was in part due to our continued transition from the smaller equine market to a larger companion animal market with this including the Onboarding of experienced sales professionals, who will help us capture that market.
Gary Lorenzo: Given how the companion animal market is a dramatically larger opportunity we have realigned our sales force for <unk>.
Gary Lorenzo: Doing it.
Garry Lowenthal: Given how the companion animal market is a dramatically larger opportunity, we have realigned our sales force, you know, as we pursue it. We have cut a lot of costs and we laid a really strong foundation for this transition. In fact, the sequential top line sales growth was even more impressive when considering we had a 25% reduction in operating expenses. Furthermore, we reduced our cash burn by more than $1 million, down to $1.4 million in the fiscal second quarter of 2025, versus $2.4 million the same period a year ago. During the quarter, we also better positioned our sales for growth by appointing for the first time two internal marketing reps who will support our four new field sales development managers.
Gary Lorenzo: Given how the companion animal market is dramatically larger opportunity, we have realigned our sales force as we pursue it.
Gary Lorenzo: We have cut a lot of course, and we laid a really strong foundation for the transition.
Gary Lorenzo: In fact, the sequential topline sales growth was even more impressive when considering we had a 25% reduction in operating expenses.
Gary Lorenzo: Furthermore, we reduced our cash burn by more than $1 million down to $1.4 million in the fiscal second quarter of two 2025 to $2 4 million in the same period year ago.
During the quarter, we also better position ourselves for growth by pointing for the first time to internal marketing reps, who will support our four new field sales development managers.
Gary Lorenzo: Subsequent to the quarter, we continued to expand our sales team.
Garry Lowenthal: Subsequent to the quarter, we continued to expand our sales team. This included hiring another top sales manager, Cindy Gill, who will help to further the adoption of our breakthrough animal bed tech device. We also greatly enhance our corporate governance with the appointment of a former DECRA President and Chief Executive Officer, Mike Eldred, to our board as an independent director. Mike's experience and strong record of business achievement with pharmaceutical and animal health brings to our board a valuable resource for achieving our business goals. We anticipate his significant knowledge and extensive background in the veterinary space will help support the growing adoption of spring by the veterinarian.
Gary Lorenzo: Included hiring another top sales managers, Cindy Gill, who will help to further the adoption of our breakthrough animal bed Tech device.
Gary Lorenzo: We also greatly enhance our corporate governance with the appointment of our former decorative president and Chief Executive Officer, Mike <unk> to our board has an independent director.
Gary Lorenzo: <unk> experience and strong record of business achievement with pharmaceutical and animal health brings to our board a valuable resource for achieving our business goals.
Gary Lorenzo: We anticipate his significant knowledge and extensive background in the veterinary space will help support the growing adoption of spring by the veterinarians.
Garry Lowenthal: As John Dolan mentioned earlier, we've made substantial progress in expanding our clinical studies. However, with our existing competed clinical studies, we believe we have more than enough clinical data to help us secure large corporate clients with many veterinary clinics nationwide. We estimate that 75% of all veterinary clinics are owned by large corporate groups.
As John mentioned earlier, we need substantial progress in expanding our clinical studies.
However, with our existing.
Gary Lorenzo: <unk> clinical studies.
Believe when we have more than enough clinical data to help us secure large corporate clients with many veterinary clinics nationwide, we estimate that 75% of all veterinary clinics are owned by large corporate groups over the next few quarters.
John Lai: And over the next few quarters, we expect to land a large number of And I'd like to turn the call over to our Chief Executive Officer, John Lai.
Gary Lorenzo: We expect to land a large number of them.
Speaker Change: I'd like to turn the call over to our Chief Executive Officer, John <unk>.
John Lai: Thank you, Garry. Now looking ahead, the current fiscal third quarter is typically our largest and best quarter of the year. This is due to exposures of major veterinary conferences like the American Association of Equine Practitioners, also known as AAEP. It occurs in every December. Our presence will be further elevated this year with our advisory board member, Dr. Tracy Turner. being inaugurated as the president of the AAP for the upcoming conference. Tracy has been widely recognized for his pioneering of the use of thermographs. Oh, sorry, termography. It's a difficult word. As a diagnostic aid in horse lameness, evaluation, and its benefit use in horse welfare regulation.
John lie: Thank you Gary.
Speaker Change: Now looking ahead, the current fiscal third quarters, typically our largest and best quarter of the year doesn't do exposures of major veterinary count for instance, like the American Association of equine practitioners also known as a P. It occurs in every December.
Speaker Change: Our presence will be further elevated this year with our advisory Board member Dr. Tracy Turner.
Speaker Change: Being inaugurated as the president of the a pea for the upcoming countries.
Speaker Change: Tracy has been widely recognized for his pioneering of the use of thermal graph.
Oh, sorry, thermography, it's a difficult word.
Speaker Change: As a diagnostic to aid in horse lameness evaluation and its benefit Youre seeing horse welfare regulations.
Speaker Change: Yes extensively published studies and lectures nationally and internationally on these topics.
John Lai: He has extensively published studies and lectures nationally and internationally on these topics. As a result of our continued participation in major conferences and key opinion leaders talking about spring, as well as expanding our sales force, we expect to grow a milestone of 800 clinics achieved earlier this year to expand to over 1500 clinics using spring before the end of our fiscal year. this all combined with our expanding distribution network. completion of additional clinical studies that confirms the efficacy and the benefits of our product. and more efficient operating structure, we believe we are well positioned to accelerate revenue growth into the rest of the year and beyond.
Speaker Change: As a result of our continued participation in major conferences.
And key opinion leaders talking about spring as well as expanding our sales force, we expect to grow our milestone of 800 clinics achieved earlier this year to expand to over 1500 clinics using spring before the end of our fiscal year.
Speaker Change: This all combined with our expanding distribution network.
Speaker Change: Completion of additional clinical studies that confirms the efficacy and the benefits of our product.
Speaker Change: And more efficient operating structure, we believe we are well positioned to accelerate revenue growth.
Speaker Change: And to the rest of the year and beyond.
John Lai: Moreover, I believe we are now in the strongest position to capitalize on the vast opportunity in the 5.7 billion U.S. animal health market. and to ride the growth that is projected to double to $11.3 billion by 2023. Given these positive factors, and looking ahead to the fiscal full year of 2025, we continue to anticipate revenue growth of approximately 1.5 million that would represent over 50% growth in the prior year. As we grow, we will maintain commitment to advancing pet health solutions to ensure that our product reaches more veterinary professionals and pet owners. We look forward to building on these achievements as we continue to strengthen our market presence and drive sustained value for our stakeholders.
Speaker Change: Moreover, I believe we are now in the strongest position to capitalize on the vast opportunity in the $5 7 billion U S animal health market.
Speaker Change: And to ride the growth that is projected to double to 11.3 billion by 2023.
Speaker Change: Given these positive factors and looking ahead to the fiscal full year of 2025, we continue to anticipate revenue growth of approximately $1 5 million I would represent over 50% growth from the prior year as we grow we will maintain commitment to advancing pet health.
Speaker Change: <unk> to ensure that our product reaches more veterinary professionals and pet owners.
Speaker Change: We look forward to building on these.
Speaker Change: Treatments as we continue to strengthen our market presence and drive sustained value for our stakeholders.
Unknown Executive: Now that we would like to open the call to questions operator, would you please explain to the listeners how they may ask questions?
Speaker Change: Now that we would like to open the call to questions operator.
Speaker Change: Would you please explain to the listeners how they may ask questions.
Hello, everyone.
Unknown Executive: Hello, everyone. For anyone that has questions, please, if you attend. Over your computer, you can select the React option and then click Raise Hand. for anyone that's dialing in, yes. Dial the star 9 to raise and lower your hand. Afterward, I will allow you to talk so you can unmute, you can start. for anyone that dialed in over the phone. Just dial star 9 to raise or lower your Okay, we have on a question from number ending with 662. I will. allow to talk.
Speaker Change: Anyone that has questions. Please.
If you attend.
Speaker Change: Over to.
Speaker Change: Your computer you can select the react option and then leak rates can.
For anyone dialed lien yes.
Speaker Change: Violence start nice to ray and lowered <unk>.
Speaker Change: Good.
Speaker Change: Afterwards, I will allow you.
Speaker Change: So as Tom said, you get on mute.
Speaker Change: Using the starches.
Speaker Change: Okay.
Okay.
Okay.
Speaker Change: Before anyone dialed in hulbert the phone.
Speaker Change: Youll style star 90% rates.
Well, we're good here.
Speaker Change: Okay.
Speaker Change: A question from number ending with 606.
Speaker Change: I will.
Speaker Change: Yes.
Speaker Change: Allow to talk so all in order to on mute please dial the starches.
Unknown Executive: So in order to unmute, please dial the star end="01.233"> understanding, I am explaining and I can explain read the, I agree that-</p><p begin="01.223"> don't, you're not, understanding how those positions were-</p><p begin="01.243"> Just make sure that you are unmuted. you have been allowed to talk by dialing the star. Oh, I'm sorry, we can see you. And it looks like you're unmuted. But can you hear me now? Yeah, there we go. Now we can hear you. Yeah. Okay, I'm sorry.
Speaker Change: Number is fixed.
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Ill or I'm, sorry, we can see you and it looks like Youre on muted by again can you hear me now Yeah. Every golf can now we can hear you, yes, okay I'm sorry.
Speaker Change: I'm, an investor and.
Unknown Executive: I'm a, an investor. reading your prospectus. Scott Cash and Cash Equivalents Down Under Total Assets of $12.4 Million What would that $12.4 million be?
Speaker Change: Is reading your prospectus.
Speaker Change: Scott cash and cash equivalents down under total assets of 12.4 million.
What would that 12.4 million babies.
Speaker Change: <unk> CFO I have no idea, what you're looking at that.
Garry Lowenthal: This is Garry Lowenthal, CFO. I have no idea what you're looking at. that I'm looking at key staff. under the prospectus I was sent where you're raising a million and a half dollars. I'm looking at the regulatory filing that was filed today, and if you want to look at the regulatory filing filed this afternoon, the balance sheet at September 30th is right there, and we don't have $12.4 million in the bank account right now. It never said that. So I don't know what you're looking at. I'm just looking at the regulatory filing that was filed today with the Securities Exchange Commission.
Speaker Change: I'm looking at key stats.
Speaker Change: Under the prospectus I was Sam where you're raising a million and half dollars.
Speaker Change: I've looked at the regulatory filing that was filed today.
Speaker Change: And do you want to look at at that regulatory filings filed this afternoon.
Speaker Change: Our balance sheet at September 30th right, there and we don't have $12 for mining the bank count right now it never said that so I don't know what you're looking at and just look at the ramp profile of else filed today with the Securities Commission.
Garry Lowenthal: It's Key Stats, OTCQB. PetV Okay, I'm looking at the Security Change Commission has all our reports and look at the Form 10-Q filed November 14th, which today our current assets show on September 30th $126,239 of actual cash and cash equivalents. and March 31st at the end of fiscal year with 87,401. Okay, this is total assets of $630,024, $2.9 million, cash and cash equivalent. MRQ 12.4 million. I don't know, sir, I don't know what you're looking at, but I can tell you the total assets is different than cash and cash equivalent. The total assets as of September 30th was $3,186,744.
Speaker Change: Its key stabs Howard T C J b.
Speaker Change: B E T V.
Speaker Change: Okay I'm looking at the Securities Exchange Commission as all other reports and look at the Form 10-Q filed November 14th which today are current asset shown September 30, 126002 hundreds of $9.
Speaker Change: Actual cash and cash equivalents.
Speaker Change: In March 31st at the end of the CIT up fiscal year with 87401.
Okay. This is total assets of 630 24 to <unk> 9 million in cash and cash equivalents.
Our Q12 point for Maui.
I don't know if youre looking at but I can tell you that total assets is different than current cash and cash equivalent the total assets as of September 30, It was 3 million $186744.
Speaker Change: Now that we've broken out the balance sheet broken out.
Garry Lowenthal: That's broken up. The balance sheet is broken up.
Speaker Change: I always had coming on raising the million $5.
Garry Lowenthal: How is it coming on raising the million and a half dollars? What's data prospectus? It's all disclosed in our filings. We've had several 8-Ks every time we raise money, and we have a 10-Q that's been filed. We've never missed a filing report. All our 10-Ks are on time and our 10-Qs are on time. We raised, since October 1st, we raised $312,500. We continue to raise money. Of the last time we've raised money, we have preferred stock. We ended up raising $1.5 million on the preferred stock.
What day of the prospectus, it's all disclosed in our filings. We've had several 8-K's every toy raise money and we have a 10-Q that propelled would never missing a filing report our 10-K's ramp time in our 10-Qs or on time.
Speaker Change: Ray Sims S attack over first of all we raised $312500. We continue to raise money of those of the last time, we raised money, we had preferred stock when our brazing.
$1 $5 million on the preferred stock.
Speaker Change: Thank you.
Unknown Executive: Thank you. You're welcome. Great.
Speaker Change: Welcome.
Speaker Change: Great. So for anyone that <unk> like to ask another question. Please dial star 92.
Unknown Executive: So for anyone that would like to ask another question, please dial star nine to raise your hand or if you join over the desktop application. Just click on the react option and click raise.
Speaker Change: Raise your hand.
Speaker Change: Or if he joined overdone.
Desktop application yes.
Speaker Change: Click on the react opportunistically raise him.
Speaker Change: Opera.
Unknown Executive: Operator, if we don't have any more questions, I would close off the Q&A. Well, thank you, operator. I would just like to once again thank everyone for dialing in today. We are looking forward to talking with you again and presenting our third quarter of 2025 results. when we report again in February.
Speaker Change: Later, we don't have any more questions.
Speaker Change: I would close off the Q&A.
Speaker Change: Well, thank you operator.
I would just like to once again, thank everyone for dialing in today.
Speaker Change: We are looking forward to talking with you again.
And presenting our third quarter of 2025 results.
Speaker Change: When we report again in February as always take care and thank you everyone for joining us today.
Unknown Executive: As always, take care, and thank you, everyone, for joining us today. John, please go ahead and wrap up the call. Thank you, John.
John Please go ahead.
John: And wrap up the call.
John: Thank you Chad.
Unknown Executive: Before we conclude today's call, I would like to provide the company safe harbor statement that includes cautions regarding forward looking statements made during today's call. The information that we have provided in this conference call includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the company's future revenue, future plans, objectives, expectations, and events, assumptions, and estimates. Forward-looking statements can be identified by the use of words or phrases, usually containing the words believe, estimate, project, intend, expect, should, will, or similar expressions. Statements that are not historical facts are based on the company's current expectations, beliefs, assumptions, estimates, forecasts, and projections for its business and the industry and markets related to its business.
Speaker Change: Before we conclude today's call I would like to provide the company's safe Harbor statement that includes cautions regarding forward looking statements made during today's call.
Speaker Change: The information that we have provided in this conference call includes forward looking statements within the meaning of the private Securities Litigation Reform Act of 1995, including but not limited to statements regarding the company's future revenue future plans objectives expectations and events assumptions and estimates forward looking.
Shipments can be identified by the use of words or phrases usually contained containing the words believe estimate project intend expect should will or similar expressions.
Speaker Change: Statements that are not historical facts are based on the company's current expectations beliefs assumptions estimates forecasts and projections for its business and industry and markets related to its business.
Unknown Executive: Any forward-looking statement made during this conference call are not guarantees of future performance and involve certain risks, uncertainties, and assumptions which are difficult to predict. Actual outcomes and results may differ materially from what is expressed in such forward-looking statements. Factors that would cause or contribute to such differences include but are limited to to various risks as detailed in the company's periodic report filings with the Securities and Exchange Commission. For more information about risks and uncertainties associated with the company's business, please refer to the Management's Discussion and Analysis of Financial Conditions or Results of Operations and Risk Factors sections of the company's SEC filings, including, but not limited to, its annual report on the Form 10-K and quarterly reports for Form 10-Q.
Speaker Change: Any forward looking statements made during this conference call are not guarantees of future performance and involve certain risks uncertainties and assumptions, which are difficult to predict.
Speaker Change: Actual outcomes and results may differ materially from what is expressed in such forward looking statements factors that would cause or contribute to such differences include but are not limited to.
Speaker Change: To various risks as detailed in the company's periodic report filings with the Securities and Exchange Commission.
Speaker Change: For more information about risks and uncertainties associated with the company's business. Please refer to the management's discussion and analysis of financial conditions or results of operations at risk factors sections of the company's SEC filings, including but not limited to its annual report on the Form 10-K and quarterly report.
Speaker Change: For Form 10-Q.
Unknown Executive: Any forward-looking statements made during this call speaks as of today's date. The company expressly disclaims any obligations or undertaking to update or revise any forward-looking statements made during the conference call to reflect any changes in its expectations with regards thereto or any changes in the events, conditions, or circumstances of which any forward-looking statements is based, except as required by law.
Speaker Change: Any forward looking statements made during this call speaks as of today's date the company expressly disclaims any obligations or undertaking to update or revise any forward looking statements made during the conference call to reflect any changes in its expectations with regards there too.
Speaker Change: Or any changes in events conditions or circumstances of which any forward looking statements is based except as required by law.
Unknown Executive: I would like to remind everyone that this call will be available for replay starting later this evening or tomorrow. Please refer today's earnings release for dialing replay instructions available via the company's website at www.petvivo.com. Thank you for attending today's presentation. This concludes the conference call.
Speaker Change: I would like to remind everyone that this call will be available for replay starting later this evening or tomorrow.
Speaker Change: Please refer today's earnings release for dial in replay instructions available via the Companys web website at Www Dot pet vivo dot com.
Thank you for attending today's presentation.
Speaker Change: This concludes the conference call.
Speaker Change: Goodbye.
Unknown Executive: Goodbye.