PetVivo (PETV) 10-Q 16 Oct 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2016	Sep. 25, 2017
Document And Entity Information
Entity Registrant Name	PetVivo Holdings, Inc.
Entity Central Index Key	1,512,922
Document Type	10-Q
Document Period End Date	Dec. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	No
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		17,340,934
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,017

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2016	Mar. 31, 2016
Current Assets
Cash and Cash Equivalents	$ 3,089	$ 258
Accounts Receivable	163
Employee Advance		15,900
Prepaids	13,731	19,121
Total Current Assets	16,983	35,279
Property and Equipment:
Property & equipment	103,504	103,504
Less: accumulated depreciation	(102,965)	(102,694)
Total Fixed Assets	539	810
Other Assets:
Goodwill		13,407,693
Trademark and Patents-Net	2,020,458	3,245,662
Total Other Assets	2,020,458	16,653,355
Total Assets	2,037,980	16,689,444
Current Liabilities:
Accounts Payable & Accrued Expenses	1,655,292	1,063,538
Note Payable and Accrued Interest-Related Party	203,297	193,370
Notes Payable	155,106	165,849
Convertible Notes Payable, net of discount of $0 and $3,311 at December 31, 2016 and March 31, 2016, respectively		31,689
Derivative Liability		24,460
Total Current Liabilities	2,013,695	1,478,906
Stockholders' equity:
Common Stock, par value $0.001, 250,000,000 shares authorized, issued 9,021,306 and 7,931,639 outstanding at December 31, 2016 and March 31, 2016	9,022	7,931
Common Stock to be issued	60,200	1,576,649
Additional Paid-In Capital	30,418,061	28,224,376
Accumulated Deficit	(44,971,069)	(29,879,283)
Total Petvivo Stockholders' (Deficit) Equity	(14,483,786)	(70,327)
Noncontrolling interest	14,508,071	15,280,865
Total stockholder's equity	24,285	15,210,538
Total Liabilities and Stockholders' Equity	$ 2,037,980	$ 16,689,444

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 31, 2016	Mar. 31, 2016
Condensed Consolidated Balance Sheets Parenthetical
Convertible Notes Payable, net of discount	$ 0	$ 3,311
Stockholders' Equity:
Common stock, par value	$ 0.001	$ 0.001
Common Stock, Shares Authorized	250,000,000	250,000,000
Common Stock, Shares Issued	9,021,306	7,931,639
Common Stock, Shares Outstanding	9,021,306	7,931,639

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Condensed Consolidated Statements Of Operations
Revenues	$ 2,163		$ 7,079	$ 75,000
Cost of Revenues
Gross Profit	2,163		7,079	75,000
Operating Expenses:
Research and Development	42,192	40,910	117,235	145,853
General and Administration	458,508	280,696	15,603,313	1,447,832
Total Operating Expenses	500,700	321,606	15,720,548	1,593,685
Operating Loss	(498,537)	(321,606)	(15,713,469)	(1,518,685)
Other Income (Expense)
Gain on Settlement of Debt			24,460	154,644
Change in Fair Value of Derivatives		63,709		103,853
Interest expense	(8,555)	(56,868)	(175,571)	(260,754)
Amortization of Issue Costs		(168,150)		(948,395)
Total Other Expense	(8,555)	(161,309)	(151,111)	(950,652)
Net Loss before taxes	(507,092)	(482,915)	(15,864,580)	(2,469,337)
Income Tax Provision
Net Loss	(507,092)	(482,915)	(15,864,580)	(2,469,337)
Net loss attributable to noncontrolling Interest	225,092	90,982	772,794	266,538
Net Loss attributable to Petvivo	$ (282,000)	$ (391,933)	$ (15,091,786)	$ (2,202,799)
Net loss per share- basic and diluted	$ (0.03)	$ (0.05)	$ (1.68)	$ (0.28)
Weighted average common shares outstanding- basic and diluted	9,081,482	7,819,846	9,000,488	7,838,685

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDER'S EQUITY (UNAUDITED) - USD ($)	Common Stock	Additional Paid-In Capital	Retained Earnings	Non- controlling Interest	Stock to be Issued	Total
Beginning Balance, Shares at Mar. 31, 2015	7,700,289
Beginning Balance, Amount at Mar. 31, 2015	$ 7,700	$ 26,381,094	$ (26,227,539)			$ 161,255
Non-Controlling Interest				16,683,000		16,683,000
Common stock issued for cash, Shares	10,600
Common stock issued for cash, Amount	$ 10	37,090				37,100
Common stock issued for services, Shares	149,000
Common stock issued for services, Amount	$ 149	555,101				555,250
Common shares issued to settle liabiolities, Shares	70,500
Common shares issued to settle liabiolities, Amount	$ 71	281,929				282,000
Issuance of Gel Del preferred stock for cash				100,005		100,005
Stock issued to extend debt, Shares	1,250
Stock issued to extend debt, Amount	$ 1	4,349				4,350
Write off of Preacquisition liabilities				(423,282)		(423,282)
Exercise of Gel Del options				195		195
Settlement of derivative liabilities		427,870				427,870
Stock to be issued					1,576,649	1,576,649
Inducement to convert debt		$ 536,943				536,943
Net Loss			$ (3,651,744)	$ (1,079,053)		(4,730,797)
Ending Balance, Amount at Mar. 31, 2016	$ 7,931,639					$ 15,210,538
Ending Balance, Shares at Mar. 31, 2016	7,931	28,224,376	(29,879,283)	15,280,865	1,576,649	15,210,538
Common stock issued for cash, Shares	66,500
Common stock issued for cash, Amount	$ 67	$ 99,684				$ 99,751
Common stock issued for services, Shares	137,500					0
Common stock issued for services, Amount	$ 138	232,362				$ 232,500
Stock to be issued					$ 60,200	60,200
Stock issued to reduce debt, Shares	788,325
Stock issued to reduce debt, Amount	$ 789	1,575,860			(1,576,649)
Stock issued for interest, Shares	97,342
Stock issued for interest, Amount	$ 97	151,379				151,476
Warrants issued for services		134,400				134,400
Net Loss			$ (15,091,786)	$ (772,794)		(15,864,580)
Ending Balance, Amount at Dec. 31, 2016	$ 9,022	$ 30,418,061	$ (44,971,069)	$ 14,508,071	$ 60,200	$ 24,285
Ending Balance, Shares at Dec. 31, 2016	9,021,306

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss for the period	$ (507,092)	$ (482,915)	$ (15,864,580)	$ (2,469,337)	$ (4,730,797)
Adjustments to reconcile net loss to net cash used in operating activities:
Non-cash consulting expense			134,400
Stock issued for services			232,500	474,503
Stock issued for interest			151,476
Depreciation and amortization			583,966	65,532
Amortization of debt issued cost				948,395
Goodwill and patent impairment loss			14,081,031
Derivative (gain) or loss adjustment				(103,853)
Forgiveness of Debt			(24,460)	(154,644)
License				488,000
Changes in Operating Assets and Liabilities
Increase (Decrease) in advances and receivables			15,900	(15,500)
Increase (Decrease) in prepaid expense			5,390	(60,221)
Increase in accounts payable and accrued expenses			596,423	397,601
Net Cash Used in Operating Activities			(87,954)	(429,524)
CASH FLOWS FROM INVESTING ACTIVITIES
Increase in patent costs			(31,833)
Net Cash (Used in) Provided by Investing Activities			(31,833)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from stock			99,750	100,005
Increase in notes from related parties			4,305
Proceed from convertible notes				524,750
Proceeds from loans			12,500
Cash received from common stock subscription			60,200
Repayments of convertible notes			(35,000)
Repayments of loan			(19,137)	(210,505)
Net Cash Provided by Financing Activities			122,618	414,250
Net Increase (Decrease) in Cash			2,831	(15,274)
Cash at Beginning of Period			258	39,863	39,863
Cash at End of Period	$ 3,089	$ 24,589	3,089	24,589	$ 258
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during the year for Interest
Cash paid during the year for Income taxes paid
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Shares issued as payment of note payable			1,576,649	1,362,246
Shares issued as payament for acccrued salaries				$ 282,000

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION	9 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION	(A) Basis of Presentation The accompanying condensed consolidated financial statements are unaudited. These unaudited interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") and pursuant to the rules and regulations of the SEC. Certain information and note disclosures, which are included in annual financial statements, have been omitted pursuant to these rules and regulations. We believe the disclosures made in these interim unaudited financial statements are adequate to make the information not misleading. Although these interim financial statements at December 31, 2016 and for the three and nine months ended December 31, 2016 and 2015 are unaudited, in the opinion of our management, such statements include all adjustments (consisting of normal and normal recurring entries) necessary to present fairly our financial position, results of operations and cash flows for the periods presented. The results for the three months and nine months ended December 31, 2016 are not necessarily indicative of the results to be expected for the year ended March 31, 2017 or for any future period. These unaudited interim financial statements should be read and considered in conjunction with our audited financial statements and the notes thereto for the year ended March 31, 2016, included in our annual report on Form 10-K filed with the SEC. PetVivo Inc. was originally incorporated under the laws of the state of Minnesota on August 1, 2013. The financials are the result of a merger between Technologies Scan Corp., a corporation incorporated in the State of Nevada on March 31, 2009, now known as PetVivo Holdings, Inc., and PetVivo Inc. For accounting purposes the Company is treating the merger as a reverse merger whereby the financials presented are those of the surviving entity that, which is PetVivo Holdings, Inc. The merger was completed on April 10, 2017. PetVivo is in the business of distribution of medical devices and biomaterials for the treatment of afflictions and diseases in animals. On April 10, 2015 the Company agreed to acquire Gel-Del Technologies, Inc. On April 10, 2017, the Company finalized the acquisition of Gel-Del Technologies, Inc. (B) Principles of Consolidation The accompanying condensed consolidated financial statements include the accounts of PetVivo Holdings, Inc. and its wholly owned operating subsidiary, PetVivo Inc. as well as its variable interest entity (VIE) Gel-Del Technologies, Inc. and its subsidiary, Cosmeta Corp. All intercompany accounts have been eliminated upon consolidation. The consolidation including the VIE is included since PetVivo controls Gel-Del as well as the fact that an agreement for its acquisition has occurred. The accounting for the acquisition of Gel-Del Technologies, begun with the closing of the Security Exchange Agreement on April 10, 2015 and completed with the Agreement and Plan of Merger on April 10, 2017, at which time the Company issued 5,450,000 shares valued at market at $0.40 per share, which equaled $2,180,000 on the date of completion (April 10, 2017). (C) Use of Estimates In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. Actual results could differ from those estimates. Significant estimates include estimated useful lives and potential impairment of property and equipment, estimate of fair value of share based payments and derivative instruments and recorded debt discount, valuation of deferred tax assets and valuation of in-kind contribution of services and interest. (D) Cash and Cash Equivalents The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. At December 31, 2016 and March 31, 2016, the Company had no cash equivalents. (E) Concentration-Risk The Company maintains its cash with various financial institutions, which may exceed federally insured limits throughout the period. (F) Machinery & Equipment Machinery and equipment are recorded at cost. Expenditures for major additions and betterments are capitalized. Maintenance and repairs are charged to operations as incurred. Depreciation of furniture fixtures and equipment is computed by the straight-line method (after taking into account their respective estimated residual values) over the assets estimated useful life of five (3) years for equipment, (5) years for automobile, and (7) years for furniture and fixtures. Upon sale or retirement of computer equipment, the related cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in statements of operations. (G) Patents and Trademarks The company capitalizes direct costs for their maintenance and advancement of their patents and trademarks and amortizes these costs over a useful life of 60 months. (H) Loss Per Share In accordance with the accounting guidance now codified as FASB ASC Topic 260, "Earnings per Share" basic loss per share is computed by dividing net loss by weighted average number of shares of common stock outstanding during each period. Diluted loss per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period. (I) Revenue Recognition The Company will recognize revenue on arrangements in accordance with FASB ASC No. 605, "Revenue Recognition". In all cases, revenue is recognized only when the price is fixed and determinable, persuasive evidence of an arrangement exists, the service is performed and collectability of the resulting receivable is reasonably assured. Revenues consist of Kush product sales to veterinary clinics (J) Research and Development The Company expenses research and development costs as incurred. (K) Fair Value of Financial Instruments The Company applies the accounting guidance under Financial Accounting Standards Board ("FASB") ASC 820-10, "Fair Value Measurements" The guidance also establishes a fair value hierarchy for measurements of fair value as follows: · Level 1 - quoted market prices in active markets for identical assets or liabilities. · Level 2 - inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. · Level 3 - unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The Company's financial instruments consist of accounts payable, accrued expenses, notes payable, notes payable - related party, loan payable - related party and convertible notes payable. The carrying amount of the Company's financial instruments approximates their fair value as of December 31, 2016 and March 31, 2016, due to the short-term nature of these instruments. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. The valuation of the Company's notes recorded at fair value is determined using Level 3 inputs, which consider (i) time value, (ii) current market and (iii) contractual prices. The Company had no assets and liabilities measured at fair value on a recurring basis at December 31, 2016. The following liabilities were measured on the condensed consolidated balance sheets at fair value on a recurring basis utilizing significant unobservable inputs or Level 3 assumptions in their valuation. The following tables provide a reconciliation of the beginning and ending balances of the liabilities: Fair Value Change New Fair Value April 1, in fair Convertible Dec. 31, 2016 Value Notes Payment 2016 Notes payable at fair value $ 31,689 $ 3,311 $ - $ (35,000 ) $ - (L)Recent Accounting Pronouncements In August 2014, the FASB issued Accounting Standards Update "ASU" 2014-15 on "Presentation of Financial Statements Going Concern (Subtopic 205-40) – Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern". Currently, there is no guidance in U.S. GAAP about management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern or to provide related footnote disclosures. The amendments in this Update provide that guidance. In doing so, the amendments are intended to reduce diversity in the timing and content of footnote disclosures. The amendments, effective for fiscal years beginning after December 15, 2016, require management to assess an entity's ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management's plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management's plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). We are currently reviewing the provisions of this ASU to determine if there will be any impact on our results of operations, cash flows or financial condition. All other newly issued accounting pronouncements but not yet effective have been deemed either immaterial or not applicable.

DERIVATIVE LIABILITY_NOTES PAYA

DERIVATIVE LIABILITY/NOTES PAYABLE CONVERTIBLE DEBENTURES	9 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
NOTE 2 - DERIVATIVE LIABILITY/NOTES PAYABLE CONVERTIBLE DEBENTURES	In April of 2016 the Company’s sole convertible debenture was paid in full for $35,000.

RELATED PARTY PAYABLE

RELATED PARTY PAYABLE	9 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
NOTE 3 - RELATED PARTY PAYABLE	At December 31, 2016, the company is obligated for unpaid officer salaries and advances of $674,692.

NOTE PAYABLE

NOTE PAYABLE	9 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Note 4 - NOTE PAYABLE	The Company is obligated on the following notes: 1. Third Party Individuals 67,826 2. Bank Credit Line * 67,595 3. Bank Loan 19,685 Total $ 155,106 *As of September 7, 2017, Gel-Del Technologies, Inc. was delinquent in the monthly payments of the Bank Credit Line and a Bank Credit Card through the same banking institution. The Company is in discussions with the bank regarding assuming and/or restructuring the Bank Credit Line having an outstanding balance of $50,000 and the Bank Credit Card having an outstanding balance of $10,000; both were originally incurred by Gel-Del Technologies, Inc. There are no assurances that the Company can restructure this note on favorable terms, if at all. The Company has a bank credit line of $75,000 At December 31, 2016 there was $7,405. of unused credit. Interest is at 6.5%. As mentioned above, as of September 7, 2017, the Company is in discussions with the bank regarding assuming and/or restructuring the Bank Credit Line, which was originally incurred by Gel-Del Technologies, Inc. The Company is indebted on a note bearing interest at prime plus 5.5% to a bank with a monthly payment of $2,786 and expiring in January, 2017. All assets of Gel-Del are pledged as collateral. On February 23, 2017, the Company paid this note in full and received a release of the collateral pledge in all assets of Gel-Del.

GOING CONCERN

GOING CONCERN	9 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
NOTE 5 - GOING CONCERN	As reflected in the accompanying condensed consolidated financial statements, the Company had no significant revenue and had a negative equity and material losses. These factors raise substantial doubt about the Company's ability to continue as a going concern. Management intends to raise additional funds either through a private placement or through the public process. Management believes that the actions presently being taken to further implement its business plan will enable the Company to continue as a going concern. While the Company believes in the viability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company's ability to further implement its business plan and generate funds. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

COMMON STOCK

COMMON STOCK	9 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
NOTE 6 - COMMON STOCK	The Company issued 95,100 shares of common stock in the quarter ended June 30, 2015, of which 14,000 shares were for services valued at market for $56,000. 70,500 shares were issued for debt reduction of $282,000 and 10,600 shares for cash of $37,100. From July 1, 2015 to September 30, 2015 the Company issued 1,250 shares for an extension of a convertible debt consideration valued at market for an expense of $4,350. From October 1, 2015 to December 31, 2015 the Company issued 125,000 shares of stock for services valued at market which equaled $474,500. Some of the services are recognized over a one year contract with the unearned portion shown as prepaid expense. From January 1 to March 31, 2016 10,000 shares were issued for services of $24,750. In March 2016, the Company agreed to settle their convertible debt with interest by issuing 788,325 shares at $2.00 per share. The actual shares issuance occurred in April 2016. Also during this period the Company received $100,000 for stock in Gel-Del pursuant to a subscription agreement. From April 1, 2016 to June 30, 2016 the Company issued 953,142 shares of which 788,325 were issued to satisfy debt of $1,575,860, 40,000 shares for cash of $60,000, 97,432 shares for interest for a market value of $151,476 and the remainder of 27,000 shares for services valued at market for $42,363. From July 1, 2016 to September 30, 2016, the Company issued 136,525 shares of common stock in the quarter ended September 30, 2016, of which 110,025 shares were for services valued at market for $190,000, and 26,500 shares for cash of $39,750. From October 1, 2016 to December 31, 2016, the Company issued -0- shares of common stock in the quarter ended December 31, 2016, of which -0- shares were for services valued at market for $-0-, and -0- shares for cash of $-0-.

AGREEMENT AND PLAN OF MERGER

AGREEMENT AND PLAN OF MERGER	9 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
NOTE 7 - AGREEMENT AND PLAN OF MERGER	The Agreement and Plan of Merger was completed by the Company’s wholly-owned subsidiary, PetVivo Holdings Newco Inc. (“Newco”) and Gel-Del (the “Merger Agreement”). In accordance with the terms and provisions of the Merger Agreement, the Company effected a statutory merger transaction resulting in an exchange by the shareholders of Gel-Del on a pro rata basis of 100% of all outstanding Gel-Del capital stock in exchange for 5,540,000 shares of our restricted common stock, which represented approximately 30% of the total issued and outstanding shares of our common stock post-merger. On April 10, 2017, the Merger Agreement was consummated and the Company completed the acquisition of the total issued and outstanding shares of common stock of Gel-Del from the Gel-Del shareholders. The acquisition was completed and consummated through a statutory merger between Gel-Del and NewCo, which resulted in Gel-Del being the surviving entity and becoming our wholly-owned subsidiary. The Merger Agreement became effective upon the filing with the Secretary of State of Minnesota on April 10, 2017. Upon the effectiveness of the Merger Agreement, each share of Gel-Del common stock issued and outstanding immediately prior to the consummation of the Merger Agreement was converted into the right to receive 0.788 common share of the Company. Gel-Del did not have any outstanding options, warrants or other derivative securities or rights convertible into securities. Through this Merger Agreement, the Company acquired all of Gel-Del's technology and related patents and other intellectual property (IP) and production techniques, as well as Gel-Del's modern and secure biomedical product manufacturing facilities being jointly constructed by Gel-Del and the Company in Edina, Minnesota. In view of the completion of the Agreement and Plan of Merger, the shares of common stock were issued on or about September 5, 2017.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
NOTE 8 - SUBSEQUENT EVENTS	Effective March 8, 2017, John Lai and John Dolan each agreed to cash settlements of $43,625 for $174,500 of their past due compensation, which was subsequently converted into a total of 1,308,750 restricted shares of PetVivo Holdings common stock. Regarding John Lai, his converted shares were offset and reduced by 500,000 shares incident to a former escrow arrangement, resulting in Mr. Lai receiving 154,375 shares through this transaction. David Masters agreed to a cash settlement of $45,591.90 for $455,919 of his past due compensation and subsequently converted the cash settlement into 683,878 shares. Randall Meyer agreed to a cash settlement of $40,500 for $405,000 of his past due compensation and subsequently converted the cash settlement into 607,500 shares. All of the foregoing securities issuances were unregistered and made by the Company as non-public transactions, and accordingly exempt from registration in reliance on Section 4(a)(2) of the Securities Act of 1933, as amended. On April 10, 2017, Upon the effectiveness of the Merger, each share of Gel-Del common stock outstanding immediately prior to the effective time of the Merger was converted into the right to receive 0.788 common share of the Company. Gel-Del had no outstanding options, warrants or other derivative securities or rights convertible into its securities. As a result of the Merger, the Company issued a total of 5,450,000 shares of its unregistered common stock to the pre-merger shareholders of Gel-Del common stock. The issuance of these shares of common stock of PetVivo is unregistered in reliance upon an exemption from registration under Section 4(a)(2) of the Securities Act of 1933, as amended. Effective April 10, 2017, On April 10 2017, On June 26, 2017 David Masters agreed to an adjusted cash settlement of $30,750 for $307,500 of his past due compensation and subsequently converted the adjusted cash settlement into 461,250 shares. Randall Meyer agreed to an adjusted cash settlement of $30,750 for $307,500 of his past due compensation and subsequently converted the adjusted cash settlement into 461,250 shares. John F. Dolan agreed to an adjusted cash settlement of $33,068.50 for $132,274 of his past due compensation and subsequently converted the adjusted cash settlement into 496,028 shares. John Lai agreed to a cash settlement of $29,979 for $119,918 of his past due compensation and subsequently converted the adjusted cash settlement into 449,692 shares. Effective July 17, 2017

SUMMARY OF SIGNIFICANT ACCOUN15

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION (Policies)	9 Months Ended
	Dec. 31, 2016
Summary Of Significant Accounting Policies And Organization Policies
Basis of Presentation	The accompanying condensed consolidated financial statements are unaudited. These unaudited interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") and pursuant to the rules and regulations of the SEC. Certain information and note disclosures, which are included in annual financial statements, have been omitted pursuant to these rules and regulations. We believe the disclosures made in these interim unaudited financial statements are adequate to make the information not misleading. Although these interim financial statements at December 31, 2016 and for the three and nine months ended December 31, 2016 and 2015 are unaudited, in the opinion of our management, such statements include all adjustments (consisting of normal and normal recurring entries) necessary to present fairly our financial position, results of operations and cash flows for the periods presented. The results for the three months and nine months ended December 31, 2016 are not necessarily indicative of the results to be expected for the year ended March 31, 2017 or for any future period. These unaudited interim financial statements should be read and considered in conjunction with our audited financial statements and the notes thereto for the year ended March 31, 2016, included in our annual report on Form 10-K filed with the SEC. PetVivo Inc. was originally incorporated under the laws of the state of Minnesota on August 1, 2013. The financials are the result of a merger between Technologies Scan Corp., a corporation incorporated in the State of Nevada on March 31, 2009, now known as PetVivo Holdings, Inc., and PetVivo Inc. For accounting purposes the Company is treating the merger as a reverse merger whereby the financials presented are those of the surviving entity that, which is PetVivo Holdings, Inc. The merger was completed on April 10, 2017. PetVivo is in the business of distribution of medical devices and biomaterials for the treatment of afflictions and diseases in animals. On April 10, 2015 the Company agreed to acquire Gel-Del Technologies, Inc. On April 10, 2017, the Company finalized the acquisition of Gel-Del Technologies, Inc.
Principles of Consolidation	The accompanying condensed consolidated financial statements include the accounts of PetVivo Holdings, Inc. and its wholly owned operating subsidiary, PetVivo Inc. as well as its variable interest entity (VIE) Gel-Del Technologies, Inc. and its subsidiary, Cosmeta Corp. All intercompany accounts have been eliminated upon consolidation. The consolidation including the VIE is included since PetVivo controls Gel-Del as well as the fact that an agreement for its acquisition has occurred. The accounting for the acquisition of Gel-Del Technologies, begun with the closing of the Security Exchange Agreement on April 10, 2015 and completed with the Agreement and Plan of Merger on April 10, 2017, at which time the Company issued 5,450,000 shares valued at market at $0.40 per share, which equaled $2,180,000 on the date of completion (April 10, 2017).
Use of Estimates	In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. Actual results could differ from those estimates. Significant estimates include estimated useful lives and potential impairment of property and equipment, estimate of fair value of share based payments and derivative instruments and recorded debt discount, valuation of deferred tax assets and valuation of in-kind contribution of services and interest.
Cash and Cash Equivalents	The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. At December 31, 2016 and March 31, 2016, the Company had no cash equivalents.
Concentration-Risk	The Company maintains its cash with various financial institutions, which may exceed federally insured limits throughout the period.
Machinery & Equipment	Machinery and equipment are recorded at cost. Expenditures for major additions and betterments are capitalized. Maintenance and repairs are charged to operations as incurred. Depreciation of furniture fixtures and equipment is computed by the straight-line method (after taking into account their respective estimated residual values) over the assets estimated useful life of five (3) years for equipment, (5) years for automobile, and (7) years for furniture and fixtures. Upon sale or retirement of computer equipment, the related cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in statements of operations.
Patents and Trademarks	The company capitalizes direct costs for their maintenance and advancement of their patents and trademarks and amortizes these costs over a useful life of 60 months.
Loss Per Share	In accordance with the accounting guidance now codified as FASB ASC Topic 260, "Earnings per Share" basic loss per share is computed by dividing net loss by weighted average number of shares of common stock outstanding during each period. Diluted loss per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period.
Revenue Recognition	The Company will recognize revenue on arrangements in accordance with FASB ASC No. 605, "Revenue Recognition". In all cases, revenue is recognized only when the price is fixed and determinable, persuasive evidence of an arrangement exists, the service is performed and collectability of the resulting receivable is reasonably assured. Revenues consist of Kush product sales to veterinary clinics.
Research and Development	The Company expenses research and development costs as incurred.
Fair value of financial instruments	The Company applies the accounting guidance under Financial Accounting Standards Board ("FASB") ASC 820-10, "Fair Value Measurements" The guidance also establishes a fair value hierarchy for measurements of fair value as follows: · Level 1 - quoted market prices in active markets for identical assets or liabilities. · Level 2 - inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. · Level 3 - unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The Company's financial instruments consist of accounts payable, accrued expenses, notes payable, notes payable - related party, loan payable - related party and convertible notes payable. The carrying amount of the Company's financial instruments approximates their fair value as of December 31, 2016 and March 31, 2016, due to the short-term nature of these instruments. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. The valuation of the Company's notes recorded at fair value is determined using Level 3 inputs, which consider (i) time value, (ii) current market and (iii) contractual prices. The Company had no assets and liabilities measured at fair value on a recurring basis at December 31, 2016. The following liabilities were measured on the condensed consolidated balance sheets at fair value on a recurring basis utilizing significant unobservable inputs or Level 3 assumptions in their valuation. The following tables provide a reconciliation of the beginning and ending balances of the liabilities: Fair Value Change New Fair Value April 1, in fair Convertible Dec. 31, 2016 Value Notes Payment 2016 Notes payable at fair value $ 31,689 $ 3,311 $ - $ (35,000 ) $ -
Recent Accounting Pronouncements	In August 2014, the FASB issued Accounting Standards Update "ASU" 2014-15 on "Presentation of Financial Statements Going Concern (Subtopic 205-40) – Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern". Currently, there is no guidance in U.S. GAAP about management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern or to provide related footnote disclosures. The amendments in this Update provide that guidance. In doing so, the amendments are intended to reduce diversity in the timing and content of footnote disclosures. The amendments, effective for fiscal years beginning after December 15, 2016, require management to assess an entity's ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management's plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management's plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). We are currently reviewing the provisions of this ASU to determine if there will be any impact on our results of operations, cash flows or financial condition. All other newly issued accounting pronouncements but not yet effective have been deemed either immaterial or not applicable.

SUMMARY OF SIGNIFICANT ACCOUN16

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION (Tables)	9 Months Ended
	Dec. 31, 2016
Summary Of Significant Accounting Policies And Organization Tables
Significant unobservable inputs	Fair Value Change New Fair Value April 1, in fair Convertible Dec. 31, 2016 Value Notes Payment 2016 Notes payable at fair value $ 31,689 $ 3,311 $ - $ (35,000 ) $ -

NOTE PAYABLE (Tables)

NOTE PAYABLE (Tables)	9 Months Ended
	Dec. 31, 2016
Note Payable Tables
Note Payable	1. Third Party Individuals 67,826 2. Bank Credit Line * 67,595 3. Bank Loan 19,685 Total $ 155,106

SUMMARY OF SIGNIFICANT ACCOUN18

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION (Details)	9 Months Ended
	Dec. 31, 2016USD ($)
Summary Of Significant Accounting Policies And Organization Details
Notes payable at fair value	$ 31,689
Change in fair value	3,311
New convertible notes
Payment	(35,000)
Notes payable at fair value

SUMMARY OF SIGNIFICANT ACCOUN19

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION (Details Narrative) - USD ($)	Apr. 10, 2017	Dec. 31, 2016
Furniture and Fixtures [Member]
Assets estimated useful life		7 years
Equipment [Member]
Assets estimated useful life		3 years
Automobile [Member]
Assets estimated useful life		5 years
Patents And Trademarks [Member]
Assets estimated useful life		5 years
Subsequent Event [Member] | Gel-Del Technologies, Inc. [Member]
Common stock share issuable for merger considertion	5,450,000
Market value per share	$ 0.40
Aggregate stock value	$ 2,180,000

DERIVATIVE LIABILITY_NOTES PA20

DERIVATIVE LIABILITY/NOTES PAYABLE CONVERTIBLE DEBENTURES (Details Narrative)	Apr. 30, 2016USD ($)
Derivative Liabilitynotes Payable Convertible Debentures Details Narrative
Convertible debentures outstanding	$ 35,000

RELATED PARTY PAYABLE (Details

RELATED PARTY PAYABLE (Details Narrative)	Dec. 31, 2016USD ($)
Related Party Payable Details Narrative
Unpaid officer salaries and advances	$ 674,692

NOTE PAYABLE (Details)

NOTE PAYABLE (Details) - USD ($)	Dec. 31, 2016	Mar. 31, 2016
Note Payable Details
Third Party Individuals	$ 67,826
Bank Credit Line	67,595
Bank Loan	19,685
Total	$ 155,106	$ 165,849

NOTE PAYABLE (Details Narrative

NOTE PAYABLE (Details Narrative)	9 Months Ended
	Dec. 31, 2016USD ($)
Credit Line outstanding balance by Gel-Del Technologies	$ 50,000
Bank credit line	75,000
Unused credit	$ 7,405
Interest rate	6.50%
Note bearing interest	5.50%
Monthly payment	$ 2,786
Note expiring date	January, 2017
Credit Card [Member]
Credit Line outstanding balance by Gel-Del Technologies	$ 10,000

COMMON STOCK (Details Narrative

COMMON STOCK (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended						9 Months Ended	12 Months Ended
	Mar. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2016	Mar. 31, 2016
Common Stock Details Narrative
Common stock issued for services, Shares		110,025	27,000	10,000	125,000		14,000	0
Common stock issued for services, Amount		$ 190,000	$ 42,363	$ 24,750	$ 474,500		$ 56,000	$ 232,500	$ 555,250
Stock issued to reduce debt, Shares							70,500
Stock issued to reduce debt, Amount			$ 1,575,860				$ 282,000
Common stock issued for cash, Shares		26,500	40,000				10,600
Common stock issued for cash, Amount		$ 39,750	$ 60,000				$ 37,100	$ 99,751	$ 37,100
Stock issued to extend debt, Shares						1,250
Convertible debt consideration valued for expense						$ 4,350
Common stock shares issued		136,525	953,142				95,100	0
Stock issued for interest, Shares			97,342
Stock issued for interest, Amount			$ 151,476					$ 151,476
Subscription received								$ 100,000
Debt conversion converted instrument, shares issued	788,325		788,325
Conversion price	$ 2			$ 2					$ 2

AGREEMENT AND PLAN OF MERGER (D

AGREEMENT AND PLAN OF MERGER (Details Narrative) - Gel-Del [Member] - $ / shares	9 Months Ended
	Dec. 31, 2016	Apr. 10, 2017
Common stock share issuable for merger considertion	5,540,000
Merger agreement description	The Company effected a statutory merger transaction resulting in an exchange by the shareholders of Gel-Del on a pro rata basis of 100% of all outstanding Gel-Del capital stock in exchange for 5,540,000 shares of our restricted common stock, which represented approximately 30% of the total issued and outstanding shares of our common stock post-merger.
Subsequent Event [Member]
Merger agreement upon converted to share		$ 0.788

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Jun. 08, 2017	Apr. 10, 2017	Mar. 08, 2017	Jul. 17, 2017	Jun. 26, 2017	Dec. 31, 2016	Mar. 31, 2016
Trademarks and Patents Net						$ 2,020,458	$ 3,245,662
Share issued							15,210,538
Subsequent Event [Member] | Gel-Del Technologies, Inc. [Member]
Merger agreement upon converted to share receive		$ 0.788
Unregistered common stock shares issued		5,450,000
Realized loss		$ 14,081,031
Trademarks and Patents Net		$ 673,340
Agreement transaction dated		Nov. 24, 2014
Market value per share		$ 0.40
Common stock share issuable for merger considertion		5,450,000
Aggregate stock value		$ 2,180,000
Original amount recorded for securities exchange		16,600,000
Impairment of Goodwill amount		$ 13,407,693
Subsequent Event [Member] | Mr. Hayne [Member]
Officers compensation periodic payment				$ 5,500
Frequiently of monthly salary payment				2,500
Salary payble				$ 8,000
Terms of employment agreement description				Mr. Hayne shall receive a base salary of $8,000 monthly, of which $2,500 is payable to him monthly and $5,500 is earned but deferred until the Company receives capital funding in an amount of at least $1,000,000. Upon receipt of such funding, Mr. Hayne shall be paid his deferred salary he has earned plus a monthly amount based on an annual rate of at least $96,000.
Restricted common stock granted for bonus				200,000
Share issuable inducement				1,250,000
Share issued				50,000
Escrow deposit share				1,200,000
Subsequent Event [Member] | John Lai [Member]
Acquired compensation due					$ 119,918
Settlement of acquired compensation due					$ 29,979
Common stock shares issuable reduced due to escrow arrangement			500,000
Common stock shares receved due to transaction			154,375
Subsequent Event [Member] | John Lai [Member] | Restricted Shares [Member]
Shares issuable against settlement					449,692
Subsequent Event [Member] | John F. Dolan [Member]
Acquired compensation due					$ 132,274
Settlement of acquired compensation due					$ 33,069
Subsequent Event [Member] | John F. Dolan [Member] | Restricted Shares [Member]
Shares issuable against settlement					496,028
Subsequent Event [Member] | Randall Meyer [Member]
Acquired compensation due					$ 307,500
Settlement of acquired compensation due					$ 30,750
Subsequent Event [Member] | Randall Meyer [Member] | Restricted Shares [Member]
Shares issuable against settlement			607,500		461,250
Subsequent Event [Member] | David Masters [Member]
Acquired compensation due			$ 455,919		$ 307,500
Settlement of acquired compensation due			$ 45,592		$ 30,750
Subsequent Event [Member] | David Masters [Member] | Restricted Shares [Member]
Shares issuable against settlement			683,878		461,250
Subsequent Event [Member] | Four officers/directors [Member]
Acquired compensation due			$ 1,209,919
Subsequent Event [Member] | Four officers/directors [Member] | Restricted Shares [Member]
Shares issuable against settlement	2,100,128				2,100,128
Subsequent Event [Member] | Randall Meyer one [Member]
Acquired compensation due			405,000
Settlement of acquired compensation due			40,500
Subsequent Event [Member] | John Lai and John Dolan [Member]
Acquired compensation due			174,500
Settlement of acquired compensation due			$ 43,625
Subsequent Event [Member] | John Lai and John Dolan [Member] | Restricted Shares [Member] | PetVivo Holdings [Member]
Shares issuable against settlement			1,308,750