PetVivo (PETV) 10-Q 14 Nov 18 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Sep. 30, 2018shares
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	Sep. 30, 2018
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding	20,518,088
Trading Symbol	PETV
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,019

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2018	Mar. 31, 2018
Current Assets
Cash and cash equivalents	$ 43,674	$ 237,335
Accounts receivable		163
Inventory	57,775	25,554
Employee advance	2,500	2,500
Security deposit	8,201	10,200
Prepaids	48,612	19,948
Total Current Assets	160,762	295,700
Property and Equipment:
Property and equipment	145,863	122,682
Less: accumulated depreciation	(107,937)	(104,111)
Total Fixed Assets	37,926	18,571
Other Assets:
Trademark and patents-net	995,592	1,253,510
Total Other Assets	995,592	1,253,510
Total Assets	1,194,280	1,567,781
Current Liabilities
Accounts payable and accrued expenses	726,488	767,970
Notes payable and accrued interest, net of debt discount	133,186
Notes payable and accrued interest - related party, net of debt discount	141,011	103,279
Accrued expenses - related party	583,869	559,884
Total Current Liabilities	1,584,554	1,431,133
Commitments and Contingencies
Stockholders' Equity (Deficit):
Preferred stock, par value $0.001, 20,000,000 shares authorized 0 and 0 shares outstanding at September 30, 2018 and March 31, 2018, respectively
Common stock, par value $0.001, 250,000,000 shares authorized 20,518,088 and 18,279,075 shares outstanding at September 30, 2018 and March 31, 2018, respectively	20,518	18,279
Common stock to be issued	26,333	608,966
Additional Paid-In Capital	50,151,495	47,257,557
Accumulated Deficit	(50,588,620)	(47,748,154)
Total Stockholders' Equity (Deficit)	(390,274)	136,648
Total Liabilities and Stockholders' Equity (Deficit)	$ 1,194,280	$ 1,567,781

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2018	Mar. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	20,518,088	18,279,075
Common stock, shares outstanding	20,518,088	18,279,075

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Statement [Abstract]
Revenues		$ 327		$ 1,510
Cost of Sales
Gross Profit		327		1,510
Operating Expenses:
Sales and Marketing	26,832		26,832
Research and Development	77,873	22,293	77,873	46,159
General and Administrative:
Depreciation and Amortization	161,622	161,262	322,741	323,582
Equity Instrument Expenses	202,434	42,000	1,937,292	139,612
Other General and Administrative	258,831	87,874	459,942	288,580
Total General and Administration	622,887	291,136	2,719,975	751,774
Total Operating Expenses	727,592	313,429	2,824,680	797,933
Operating Loss	(727,592)	(313,102)	(2,824,680)	(796,423)
Other Expense
Interest Expense	(13,289)	(8,354)	(15,786)	(26,064)
Total Other Expense	(13,289)	(8,354)	(15,786)	(26,064)
Net Loss before taxes	(740,881)	(321,456)	(2,840,466)	(822,487)
Income Tax Provision
Net Loss	$ (740,881)	$ (321,456)	$ (2,840,466)	$ (822,487)
Net Loss Per Share:
Basic and Diluted	$ (0.04)	$ (0.02)	$ (0.14)	$ (0.06)
Weighted Average Shares Outstanding:
Basic and Diluted	20,321,529	17,292,456	19,855,091	14,327,965

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Non-controlling Interest [Member]	Stock to be Issued [Member]	Total
Balance at Mar. 31, 2017	$ 9,322	$ 30,567,761	$ (45,410,816)	$ 14,303,559	$ 1,349,919	$ 819,745
Balance, shares at Mar. 31, 2017	9,321,306
Common stock issued to reduce accrued salaries	$ 2,100	1,207,819			(1,209,919)
Common stock issued to reduce accrued salaries, shares	2,100,128
Common stock returned - salary settlement	$ (682)	(342,045)				(342,727)
Common stock returned - salary settlement, shares	(681,600)
Common stock returned - escrow agreement	$ (1,250)					(1,250)
Common stock returned - escrow agreement, shares	(1,250,000)
Common stock issued to reduce debt	$ 38	13,172			(13,210)
Common stock issued to reduce debt, shares	37,741
Proceeds from stock sale					877,000	877,000
Stock based compensation granted	$ 1,250	670,796			191,825	863,871
Stock based compensation granted, shares	1,250,000
Stock granted for debt conversion					195,176	195,176
Common stock issued for cash	$ 1,620	565,380			(567,000)
Common stock issued for cash, shares	1,620,000
Common stock issued for services	$ 431	214,394			(214,825)
Common stock issued for services, shares	431,500
Common stock issued for services-Gel-Del				32,171		32,171
Inducement dividend from warrant exercise		30,000				30,000
Change in ownership in VIE	$ 5,450	14,330,280		(14,335,730)
Change in ownership in VIE, shares	5,450,000
Net loss			(2,337,338)			(2,337,338)
Balance at Mar. 31, 2018	$ 18,279	47,257,557	(47,748,154)		608,966	136,648
Balance, shares at Mar. 31, 2018	18,279,075
Common stock issued to reduce debt	$ 521	276,908			(181,966)	95,463
Common stock issued to reduce debt, shares	520,749
Proceeds from stock sale
Stock based compensation granted	$ 200	41,800			(42,000)
Stock based compensation granted, shares	200,000
Common stock issued for services	$ 361	626,590			(15,000)	611,951
Common stock issued for services, shares	361,816
Common stock returned	$ 479	861,113				861,592
Common stock returned, shares	478,662
Beneficial conversion feature		19,092				19,092
Common stock issued for cash - warrant exercise	$ 368	213,525			(60,000)	153,893
Common stock issued for cash - warrant exercise, shares	367,786
Common stock issued for cash - private raises	$ 310	309,690			(310,000)
Common stock issued for cash - private raises, shares	310,000
Common stock to be issued for production services					26,333	26,333
Warrants for services		96,161				96,161
Warrants granted in conjunction with bridge notes		52,544				52,544
Warrant compensation - Advisors		137,819				137,819
Warrant compensation - Directors		87,475				87,475
Warrant compensation - Employees		115,000				115,000
Warrant compensation - Officers		56,221				56,221
Net loss			(2,840,466)			(2,840,466)
Balance at Sep. 30, 2018	$ 20,518	$ 50,151,495	$ (50,588,620)		$ 26,333	$ (390,274)
Balance, shares at Sep. 30, 2018	20,518,088

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Loss For The Period	$ (2,840,466)	$ (822,487)
Adjustments to Reconcile Net Loss to Net Cash (Used in) Provided by Operating Activities:
Beneficial conversion feature	19,092
Warrants for services	96,161
Warrants granted in conjunction with bridge notes	52,544
Warrant compensation - Advisors	137,819
Warrant compensation - Directors	87,475
Warrant compensation - Employees	115,000
Warrant compensation - Officers	56,221
Stock issued for services	611,951	118,825
Stock issued to reduce debt	95,463
Stock to be issued for production services	26,333
Stock compensation adjustment	861,592
Depreciation and amortization	322,741	323,582
Changes in Operating Assets and Liabilities
Increase in inventory	(32,221)
Increase in prepaid expense and employee advances	(28,664)	(1,143)
Decrease (Increase) in advances and receivables	163	(490)
Increase in accrued expense - related parties	23,985
Increase (decrease) in accounts payable and accrued expense	(41,481)	459,219
Net Cash Provided By (Used In) Operating Activities	(436,292)	77,506
CASH FLOWS FROM INVESTING ACTIVITIES
Decrease (increase) in security deposit	1,999	(8,201)
Purchase of equipment	(23,181)
Increase in patents and trademarks	(60,998)	(10,401)
Net Cash Used in Investing Activities	(82,180)	(18,602)
CASH FLOWS FROM FINANCING ACTIVITIES
Stock issued for cash - warrant exercises	153,893
Proceeds from stock sale		42,000
Increase in convertible notes payable		7,491
Increase in notes payable and accrued interest, net of debt discount	133,186
Increase in notes payable and accrued interest - related parties, net of debt discount	37,732
Common stock subscribed		74,562
Repayments of loans and line of credit		(15,232)
Net Cash Provided by Financing Activities	324,811	108,821
Net Increase (decrease) in Cash	(193,661)	167,725
Cash at Beginning of Period	237,335	25,434
Cash at End of Period	43,674	193,159
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash Paid During The Year For: Interest	7,167
Cash Paid During The Year For: Income taxes paid
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Shares issued as payment for accrued salaries		1,209,919
Change in variable interest equity		14,335,730
Shares issued to reduce debt	$ 114,554

Summary of Significant Accounti

Summary of Significant Accounting Policies and Organization	6 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Significant Accounting Policies and Organization	NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION (A) Basis of Presentation PetVivo Holdings, Inc. (the “Company”) was incorporated in Nevada under a former name in 2009, and entered it current business in 2014 through a stock exchange reverse merger with PetVivo, Inc., a Minnesota corporation. This merger resulted in Minnesota PetVivo becoming a wholly-owned subsidiary of the Company. In April 2017, the Company acquired another Minnesota corporation, Gel-Del Technologies, Inc., through a statutory merger, which is also a wholly owned subsidiary of the Company. 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 September 30, 2018 and for the three and six months ended September 30, 2018 and 2017 are unaudited, in the opinion of our management, such statements include all adjustments (consisting of 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 and six months ended September 30, 2018 are not necessarily indicative of the results to be expected for the year ended March 31, 2019 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, 2018, included in our annual report on Form 10-K filed with the SEC. The Company is in the business of distribution of medical devices and biomaterials for the treatment of afflictions and diseases in animals. The Company’s management development and other operations are conducted from its headquarter facilities in suburban Minneapolis, Minnesota. (B) Principles of Consolidation The accompanying condensed consolidated financial statements include the accounts of the Company and its two wholly-owned Minnesota corporations. All intercompany accounts have been eliminated upon consolidation. The accounting for the acquisition of Gel-Del Technologies, Inc. began with the Security Exchange Agreement on April 10, 2015 which was uncompleted, and as adjusted for completion pursuant to the Agreement and Plan of Merger effective April 10, 2017 (the “Merger”). To complete the Merger, 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 September 30, 2018, the Company had $43,674 in cash and no cash equivalents. (E) Concentration-Risk The Company maintains its cash with various financial institutions, which at times may exceed limits insured by the Federal Deposit Insurance Corporation (FDIC). At September 30, 2018, cash did not exceed the FDIC uninsured balances. The management believes the Company is not exposed to any significant credit risk on cash. (F) Property & Equipment Property and equipment are recorded at cost. Expenditures for major additions and betterments are capitalized. Maintenance and repairs are charged to operations as incurred. Depreciation is computed by the straight-line method (after taking into account their respective estimated residual values) over the asset’s estimated useful life of (3) years for equipment, (5) years for automobile, and (7) years for furniture and fixtures. (G) Patents and Trademarks The Company capitalizes direct costs for the maintenance and advancement of their patents and trademarks and amortizes these costs over a useful life of 60 months. (H) Loss 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. The Company has 3,736,423 warrants outstanding as of September 30, 2018 with varying exercise prices ranging from $3.50 to $.30/share. The weighted average exercise price for these warrants is $.66/share. These warrants are excluded from the weighted average number of shares because they are considered anti-dilutive. (I) Revenue Recognition The Company will recognize revenue on arrangements in accordance with FASB ASC No. 606, “Revenue From Contracts With Customers”. Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. The Company adopted the guidance on April 1, 2018 using the cumulative catch-up transition method. This change in accounting did not have any material effect on the Company’s financial statements. (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 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 receivable, accounts payable, accrued expenses, accrued expenses – related party, notes payable, notes payable - related party, and convertible notes payable. The carrying amount of the Company’s financial instruments approximates their fair value as of September 30, 2018 and March 31, 2018, due to the short-term nature of these instruments and the Company’s borrowing rate of interest. 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 September 30, 2018 and March 31, 2018. (L) Stock-Based Compensation - Non-Employees Equity Instruments Issued to Parties Other Than Employees for Acquiring Goods or Services The Company accounts for equity instruments issued to parties other than employees for acquiring goods or services under guidance of Sub-topic 505-50 of the FASB Accounting Standards Codification (“Sub-topic 505-50”). Pursuant to ASC Section 505-50-30, all transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. The measurement date used to determine the fair value of the equity instrument issued is the earlier of the date on which the performance is complete or the date on which it is probable that performance will occur. If the Company is a newly formed corporation or shares of the Company are thinly traded the use of share prices established in the Company’s most recent private placement memorandum (“PPM”), or weekly or monthly price observations would generally be more appropriate than the use of daily price observations as such shares could be artificially inflated due to a larger spread between the bid and asked quotes and lack of consistent trading in the market. The fair value of share options and similar instruments is estimated on the date of grant using a Black-Scholes option-pricing valuation model. The ranges of assumptions for inputs are as follows: ● Expected term of share options and similar instruments: Pursuant to Paragraph 718-10-50-2(f)(2)(i) of the FASB Accounting Standards Codification the expected term of share options and similar instruments represents the period of time the options and similar instruments are expected to be outstanding taking into consideration of the contractual term of the instruments and holder’s expected exercise behavior into the fair value (or calculated value) of the instruments. The Company uses historical data to estimate holder’s expected exercise behavior. If the Company is a newly formed corporation or shares of the Company are thinly traded the contractual term of the share options and similar instruments is used as the expected term of share options and similar instruments as the Company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate expected term. ● Expected volatility of the entity’s shares and the method used to estimate it. Pursuant to ASC Paragraph 718-10-50-2(f)(2)(ii) a thinly-traded or nonpublic entity that uses the calculated value method shall disclose the reasons why it is not practicable for the Company to estimate the expected volatility of its share price, the appropriate industry sector index that it has selected, the reasons for selecting that particular index, and how it has calculated historical volatility using that index. The Company uses the average historical volatility of the comparable companies over the expected contractual life of the share options or similar instruments as its expected volatility. If shares of a company are thinly traded the use of weekly or monthly price observations would generally be more appropriate than the use of daily price observations as the volatility calculation using daily observations for such shares could be artificially inflated due to a larger spread between the bid and asked quotes and lack of consistent trading in the market. ● Expected annual rate of quarterly dividends. An entity that uses a method that employs different dividend rates during the contractual term shall disclose the range of expected dividends used and the weighted-average expected dividends. The expected dividend yield is based on the Company’s current dividend yield as the best estimate of projected dividend yield for periods within the expected term of the share options and similar instruments. ● Risk-free rate(s). An entity that uses a method that employs different risk-free rates shall disclose the range of risk-free rates used. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods within the expected term of the share options and similar instruments. Pursuant to Paragraphs 505-50-25-8 and 505-50-25-9, an entity may grant fully-vested, non-forfeitable equity instruments that are exercisable by the grantee only after a specified period of time if the terms of the agreement provide for earlier exercisability if the grantee achieves specified performance conditions. Any measured cost of the transaction shall be recognized in the same period(s) and in the same manner as if the entity had paid cash for the goods or services or used cash rebates as a sales discount instead of paying with, or using, the equity instruments. A recognized asset, expense, or sales discount shall not be reversed if a share option and similar instrument that the counterparty has the right to exercise expires unexercised. (M) Income Taxes The Company accounts for income taxes under Accounting Standards Codification (ASC) Topic 740. Deferred tax assets and liabilities are determined based upon differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. A valuation allowance is provided when it is more likely than not that some portion or all of a deferred tax asset will not be realized. The Company adopted the provisions of ASC Topic 740, on January 1, 2007. Previously, the Company had accounted for tax contingencies in accordance with Statement of Financial Accounting Standards No. 5, Accounting for Contingencies. The Company is not currently under examination by any federal or state jurisdiction. The Company’s policy is to record tax-related interest and penalties as a component of operating expenses. (N) Inventory Inventories are recorded in accordance with ASC 330 and are stated at the lower of cost or net realizable value. We account for inventories using the first in first out (FIFO) methodology and capitalize costs on a project basis as they occur. (O) Recent Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. Topic 842 affects any entity that enters into a lease, with some specified scope exemptions. The guidance in this ASU supersedes Topic 840, Leases. The core principle of Topic 842 is that a lessee should recognize the assets and liabilities that arise from leases. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use (“ROU”) asset representing its right to use the underlying asset for the lease term. For public companies, the amendments in this ASU are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company expects to recognize ROU assets and related obligations upon adoption of ASU 2016-02. The Company does not expect the adoption on this new standard to have any material effect upon the financial statements. The change from revenue recognition according to FASB issued ASC 605 to ASC 606 had no effect on the Company’s financial statements for the years ending March 31, 2017 and March 31, 2018, or the three and six month periods ending September 30, 2017, and September 30, 2018. All other newly issued accounting pronouncements but not yet effective have been deemed either immaterial or not applicable.

Notes Payable

Notes Payable	6 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Notes Payable	NOTE 2 - NOTES PAYABLE At September 30, 2018 the company is obligated for several notes payable and accrued interest in the total amount of $165,000 and $1,790, respectively. The note terms dictate 12% simple interest, compounding daily based on a 365-day year, paid out 6 months from the date of the note. The bridge note also triggers the issuance of a detachable warrant for purchase of half of the principal amount in shares exercisable at $1.00 per share. There were 82,500 detachable warrants issued in conjunction with bridge notes entered into in the six-month period ending September 30, 2018. Pursuant to ASC 470 the fair value of the warrants attributable to a discount on the debt is ($40,325), of which ($6,721) was amortized to interest expense on a straight-line basis over the term of the loans.

Notes Payable - Related Party

Notes Payable - Related Party	6 Months Ended
	Sep. 30, 2018
Related Party Transactions [Abstract]
Notes Payable - Related Party	NOTE 3 – NOTES PAYABLE – RELATED PARTY At September 30, 2018, the Company is obligated for: i) A Director note payable and accrued interest in the total amount of $100,701. We are obligated to pay $3,100 per month applied towards accrued interest first, then the principal amount due. The entirety of the outstanding principal and accrued interest due is payable upon sales of equity in excess of $3,500,000 within a two-year period. ii) A Director note payable in the principal amount of $50,000, that is shown net of a ($10,183) debt discount for 25,000 detachable warrants exercisable for a 3-year term at $1.00 per share, and accrued interest of $493.15. The note terms dictate 12% simple interest, compounding daily based on a 365-day year, paid out 6 months from the date of the note. Pursuant to ASC 470 the fair value of the warrants attributable to a discount on the debt is ($10,183), of which ($2,036) was amortized to interest expense on a straight-line basis over the term of the loan.

Going Concern

Going Concern	6 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern	NOTE 4 - GOING CONCERN As reflected in the accompanying condensed consolidated financial statements, the Company had no significant revenue and had a negative equity and recurring 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 public offering of its equity securities. 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 its 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 raise additional funds. The net loss for the three and six month periods ending September 30, 2018 was ($740,881) and ($2,840,466), respectively. Our working capital as of September 30, 2018 was ($1,423,792). Our cash used in operations for the six-month period ending September 30, 2018 was ($436,292). These financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

Common Stock and Warrants

Common Stock and Warrants	6 Months Ended
	Sep. 30, 2018
Equity [Abstract]
Common Stock and Warrants	NOTE 5 - COMMON STOCK AND WARRANTS Common Stock During the six-month period ended September 30, 2018 the Company issued 2,239,013 shares of common stock including: i) 478,662 were issued to the Company’s President, John Lai, to replace shares he placed into escrow in 2017 valued at $861,592; ii) 520,749 shares were to reduce debt valued at $296,521, 485,287 of these shares valued at $181,967 were recorded in our financial statements during fiscal year ended March 31, 2018; iii) 200,000 were issued as compensation to the Company’s CEO, Wesley Hayne, valued at $42,000, these shares were granted and recorded to expense and Additional Paid in Capital during the fiscal year ended March 31, 2018; iv) 310,000 were issued for cash valued at $310,000, 250,000 were from a private offering to one individual in December of 2017 for $250,000, and 60,000 were from a private offering to one individual in September of 2016 for $60,000; v) 361,816 were issued for services valued at $626,951, 324,723 shares valued at $584,500 were issued to the Company’s President, John Lai, to replace shares given up to obtain financing in 2015; vi) 367,786 were issued pursuant to warrant exercises for cash amounting to $213,893 , 60,000 warrants were exercised at $1.00 per share and 307,786 warrants were exercised at $.50 per share. Warrants During the six-month period ended September 30, 2018 the Company granted warrants to purchase a total of 657,500 shares of common stock including: i) warrants for 80,000 shares to two advisory board members for service, vested semi-annually over two years, and exercisable over a five-year term at $1.00/share; ii) warrants for 80,000 shares to John Carruth, the Company’s Controller, in consideration of his employment, vested quarterly over two years, and exercisable over a five-year term at $1.00/share; iii) warrants for 30,000 shares to a lawyer for general legal counsel, fully-vested and exercisable over a five-year term at $1.00/share; iv) warrants for 60,000 shares to various information technology service providers for IT services, vested as billed, exercisable over a five-year term; v) warrants for 300,000 shares to three new Directors in consideration of their service, vested quarterly over two years, and exercisable over a five-year term at $1.00/share; vi) warrants for 107,500 shares to several note holders pursuant to their bridge note agreements, vested immediately, and exercisable over a three-year term at $1.00/share. During the six-month period ended September 30, 2018 the Company reduced previous grants of warrants to purchase 100,000 shares of common stock including: i) warrants for 60,000 shares from a service provider due to the termination of a contract; ii) warrants for 40,000 shares from a former advisory board member due to the termination of a contract. During the six-month period ended September 30, 2018 warrants to purchase 307,786 shares of common stock with a strike price of $.50 per share were exercised for $153,893 in cash. A summary of warrant activity for the periods ending March 31, 2018 and September 30, 2018 is as follows: Number of Warrants Weighted-Average Exercise Price Warrants Exercisable Weighted-Average Exercisable Price Outstanding, March 31, 2017 133,250 2.00 133,250 2.00 Granted 3,413,459 .54 Exercised 60,000 1.50 Outstanding, March 31, 2018 3,486,709 .59 2,433,601 .57 Granted 657,500 1.00 Exercised 307,786 .50 Cancelled 100,000 1.00 Outstanding, September 30, 2018 3,736,423 .66 2,508,366 .62 At September 30, 2018, the range of warrant prices for shares under warrants and the weighted-average remaining contractual life is as follows: Warrants Outstanding Warrants Exercisable Range of Warrant Exercise Price Number of Warrants Weighted-Average Exercise Price Weighted- (Years) Number of Warrants Weighted- Average Exercise Price .30-.50 2,495,673 .43 2.52 2,020,673 .46 .51-1.00 1,167,500 1.02 4.27 414,443 1.00 1.01-3.50 73,250 2.82 2.19 73,250 2.82 Total 3,736,423 .66 3.06 2,508,366 .62

Merger Agreement with Gel-Del

Merger Agreement with Gel-Del	6 Months Ended
	Sep. 30, 2018
Merger Agreement With Gel-del
Merger Agreement with Gel-Del	NOTE 6 – MERGER AGREEMENT WITH GEL-DEL On November 21, 2014, the respective Boards of Directors and executive officers of our company and of Gel-Del Technologies, Inc., a Minnesota corporation (“Gel-Del”), entered into and agreed to a merger between our company and Gel-Del, subject to approval by our shareholders and the shareholders of Gel-Del. Approval of our shareholders of this initial merger was obtained by us on April 10, 2015 through a Written Consent pursuant to Nevada corporate statutes, and approval of Gel-Del shareholders was obtained through a meeting of its shareholders duly held on March 25, 2015 pursuant to Minnesota corporate statutes. Concurrent with obtaining full shareholder approval, we also appointed the directors of Gel-Del as directors of our company. We then controlled Gel-Del, combined all Gel-Del operations with ours, and became responsible to provide future funding for Gel-Del. Accordingly, we concluded that Gel-Del was a VIE entity for which we were the primary beneficiary and that for accounting purposes, we would consolidate our financial statements with those of Gel-Del. As required by US GAAP accounting, our initial consolidation of this VIE was accounted for similar to a business combination with the assets and liabilities of Gel-Del stated at their fair value. In light of the pending merger, we determined the fair value of Gel-Del based on the agreed consideration of 4,150,000 common shares using the $4.02 per share trading price of our common stock at April 10, 2015. The assets of Gel-Del equaled $295,716 and its liabilities were $2,295,462 for a difference of $1,999,746 that resulted in a total purchase consideration of $18,978,462. We allocated $13,407,693 to goodwill and $5,570,769 to patents and trademarks. We recorded a non-controlling interest of $16,683,000. We were unable to consummate the initial merger agreement with Gel-Del due primarily to a substantial public market decline in the trading value of our common stock. In order to complete our Gel-Del merger, in early 2017 we agreed to provide Gel-Del an additional 31.3% of our common shares than was provided for in the initial merger agreement. Accordingly, pursuant to an Agreement of Merger dated March 20, 2017, our management and Gel-Del management revised the structure and terms of the Gel-Del merger to provide for the issuance of these additional shares to Gel-Del and to effect the transaction through a statutory triangular merger. The revised merger was then completed under Minnesota Statutes whereby Gel-Del and a wholly-owned subsidiary of ours (which was incorporated in Minnesota expressly for this transaction) completed this triangular merger (the “Merger”). Pursuant to the Merger, Gel-Del was the surviving entity and concurrently became our wholly-owned subsidiary, resulting in our obtaining full ownership of Gel-Del. Our primary reason to effect the Merger was to obtain 100% ownership and control of Gel-Del and its patented bioscience technology, including ownership of Gel-Del’s Cosmeta subsidiary. The effective date for the Merger was April 10, 2017 when the Merger was filed officially with the Secretary of State of Minnesota. Pursuant to the Merger, we issued a total of 5,450,000 shares of our common stock pro rata to the pre-merger shareholders of Gel-Del, resulting in each outstanding common share of Gel-Del being converted into 0.788 common share of our company. Gel-Del did not have any outstanding options, warrants, convertible debt, or other rights convertible into equity. The 5,450,000 shares represented approximately 30% of our total post-merger outstanding common shares and were valued at the closing price of our common shares on the effective date of the Merger of $0.40 per share, resulting in total consideration of $2,180,000. Incident to completion of the Merger, we recorded an impairment loss of approximately $14,700,000 including $13,407,693 in goodwill and approximately $1,292,307 in patents and trademarks, in order to account for the decline in our initial valuation of Gel-Del. In accordance with authoritative guidance, the non-controlling interest associated with Gel-Del was reclassified to additional paid-in capital, including the difference between the non-controlling interest and the consideration paid.

Lease and Commitments

Lease and Commitments	6 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Lease and Commitments	NOTE 7 – LEASE AND COMMITMENTS Rent expense for the three and six months ended September 30, 2018 were $25,807 and $40,414, respectively. Rent expense for the three and six months ended September 30, 2017 were $10,990 and $25,184, respectively. On July 2 nd The Company entered into an eighty-four month lease for 3,577 square feet of newly constructed office, laboratory and warehouse space located in Edina, Minnesota on May 3, 2017. The base rent is $2,078 per month and the Company is responsible for its proportional share of common space expenses, property taxes, and building insurance. Future minimum rental commitments are as follows: Year Ended March 31, 2019 $ 12,468 2020 $ 24,936 2021 $ 24,936 2022 $ 24,936 2023 $ 24,936 Thereafter $ 21,770 $ 133,982

Operating Loss

Operating Loss	6 Months Ended
	Sep. 30, 2018
Notes to Financial Statements
Operating Loss	NOTE 8 – OPERATING LOSS The operating loss of ($2,824,680) for the six months ended September 30, 2018 is primarily due to ($1,937,292) in expense associated with equity issuances including ($463,749) in warrant expense and ($1,473,543) in stock expense.

Inventory

Inventory	6 Months Ended
	Sep. 30, 2018
Inventory Disclosure [Abstract]
Inventory	NOTE 9 – INVENTORY The $57,775 of total inventory is broken out as follows: September 30, 2018 Finished Goods $ 45,573 Work in Process -0- Manufacturing Supplies 2,834 Raw Materials 9,368 Total Inventory $ 57,775

Subsequent Events

Subsequent Events	6 Months Ended
	Sep. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	NOTE 10 – SUBSEQUENT EVENTS On October 2, 2018 the Company entered into a bridge note agreement with an accredited investor whereby $25,000 was loaned to the company and any principal and accrued interest is payable 6 months from the date of the note. Interest is accrued based on a 365-day year at 12% and compounds daily. There were 12,500 detachable warrants issued in conjunction with the bridge note. On November 1, 2018 the Company and its independent contract quality control organization discovered a possible contamination in vials produced from lots #2 and #3 of three separate lots that are included in inventory. No vials derived from Lots #2 and #3 have been distributed to customers. The identified lots and vials were produced by the Company’s former third-party contract manufacturer. On November 5, 2018 we issued a formal Notice of Product Quarantine and Product Monitoring Period whereby we asked for any unused vials to be quarantined while the Company’s scientific team and third-party contract testing organization analyzed whether lot #1 also included contamination. No evidence of contamination of vials produced for distribution from Lot #1 has been identified to date. We anticipate to incur additional expenses in our fiscal third quarter relating to product testing. Due to there being a reasonable expectation of the suspected contamination existing as of the balance sheet date, pursuant to ASC 330 we have identified this as a Type I, recognized subsequent event and written have off approximately $47,500 in inventory costs to research and development expense attributed to the loss of Lots #2 and #3.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies and Organization (Policies)	6 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	(A) Basis of Presentation PetVivo Holdings, Inc. (the “Company”) was incorporated in Nevada under a former name in 2009, and entered it current business in 2014 through a stock exchange reverse merger with PetVivo, Inc., a Minnesota corporation. This merger resulted in Minnesota PetVivo becoming a wholly-owned subsidiary of the Company. In April 2017, the Company acquired another Minnesota corporation, Gel-Del Technologies, Inc., through a statutory merger, which is also a wholly owned subsidiary of the Company. 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 September 30, 2018 and for the three and six months ended September 30, 2018 and 2017 are unaudited, in the opinion of our management, such statements include all adjustments (consisting of 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 and six months ended September 30, 2018 are not necessarily indicative of the results to be expected for the year ended March 31, 2019 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, 2018, included in our annual report on Form 10-K filed with the SEC. The Company is in the business of distribution of medical devices and biomaterials for the treatment of afflictions and diseases in animals. The Company’s management development and other operations are conducted from its headquarter facilities in suburban Minneapolis, Minnesota.
Principles of Consolidation	(B) Principles of Consolidation The accompanying condensed consolidated financial statements include the accounts of the Company and its two wholly-owned Minnesota corporations. All intercompany accounts have been eliminated upon consolidation. The accounting for the acquisition of Gel-Del Technologies, Inc. began with the Security Exchange Agreement on April 10, 2015 which was uncompleted, and as adjusted for completion pursuant to the Agreement and Plan of Merger effective April 10, 2017 (the “Merger”). To complete the Merger, 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	(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.
Cash and Cash Equivalents	(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 September 30, 2018, the Company had $43,674 in cash and no cash equivalents.
Concentration-Risk	(E) Concentration-Risk The Company maintains its cash with various financial institutions, which at times may exceed limits insured by the Federal Deposit Insurance Corporation (FDIC). At September 30, 2018, cash did not exceed the FDIC uninsured balances. The management believes the Company is not exposed to any significant credit risk on cash.
Property & Equipment	(F) Property & Equipment Property and equipment are recorded at cost. Expenditures for major additions and betterments are capitalized. Maintenance and repairs are charged to operations as incurred. Depreciation is computed by the straight-line method (after taking into account their respective estimated residual values) over the asset’s estimated useful life of (3) years for equipment, (5) years for automobile, and (7) years for furniture and fixtures.
Patents and Trademarks	(G) Patents and Trademarks The Company capitalizes direct costs for the maintenance and advancement of their patents and trademarks and amortizes these costs over a useful life of 60 months.
Loss Per Share	(H) Loss 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. The Company has 3,736,423 warrants outstanding as of September 30, 2018 with varying exercise prices ranging from $3.50 to $.30/share. The weighted average exercise price for these warrants is $.66/share. These warrants are excluded from the weighted average number of shares because they are considered anti-dilutive.
Revenue Recognition	(I) Revenue Recognition The Company will recognize revenue on arrangements in accordance with FASB ASC No. 606, “Revenue From Contracts With Customers”. Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. The Company adopted the guidance on April 1, 2018 using the cumulative catch-up transition method. This change in accounting did not have any material effect on the Company’s financial statements.
Research and Development	(J) Research and Development The Company expenses research and development costs as incurred.
Fair Value of Financial Instruments	(K) Fair Value of Financial Instruments The Company applies the accounting guidance under 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 receivable, accounts payable, accrued expenses, accrued expenses – related party, notes payable, notes payable - related party, and convertible notes payable. The carrying amount of the Company’s financial instruments approximates their fair value as of September 30, 2018 and March 31, 2018, due to the short-term nature of these instruments and the Company’s borrowing rate of interest. 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 September 30, 2018 and March 31, 2018.
Stock-Based Compensation - Non-employees	(L) Stock-Based Compensation - Non-Employees Equity Instruments Issued to Parties Other Than Employees for Acquiring Goods or Services The Company accounts for equity instruments issued to parties other than employees for acquiring goods or services under guidance of Sub-topic 505-50 of the FASB Accounting Standards Codification (“Sub-topic 505-50”). Pursuant to ASC Section 505-50-30, all transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. The measurement date used to determine the fair value of the equity instrument issued is the earlier of the date on which the performance is complete or the date on which it is probable that performance will occur. If the Company is a newly formed corporation or shares of the Company are thinly traded the use of share prices established in the Company’s most recent private placement memorandum (“PPM”), or weekly or monthly price observations would generally be more appropriate than the use of daily price observations as such shares could be artificially inflated due to a larger spread between the bid and asked quotes and lack of consistent trading in the market. The fair value of share options and similar instruments is estimated on the date of grant using a Black-Scholes option-pricing valuation model. The ranges of assumptions for inputs are as follows: ● Expected term of share options and similar instruments: Pursuant to Paragraph 718-10-50-2(f)(2)(i) of the FASB Accounting Standards Codification the expected term of share options and similar instruments represents the period of time the options and similar instruments are expected to be outstanding taking into consideration of the contractual term of the instruments and holder’s expected exercise behavior into the fair value (or calculated value) of the instruments. The Company uses historical data to estimate holder’s expected exercise behavior. If the Company is a newly formed corporation or shares of the Company are thinly traded the contractual term of the share options and similar instruments is used as the expected term of share options and similar instruments as the Company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate expected term. ● Expected volatility of the entity’s shares and the method used to estimate it. Pursuant to ASC Paragraph 718-10-50-2(f)(2)(ii) a thinly-traded or nonpublic entity that uses the calculated value method shall disclose the reasons why it is not practicable for the Company to estimate the expected volatility of its share price, the appropriate industry sector index that it has selected, the reasons for selecting that particular index, and how it has calculated historical volatility using that index. The Company uses the average historical volatility of the comparable companies over the expected contractual life of the share options or similar instruments as its expected volatility. If shares of a company are thinly traded the use of weekly or monthly price observations would generally be more appropriate than the use of daily price observations as the volatility calculation using daily observations for such shares could be artificially inflated due to a larger spread between the bid and asked quotes and lack of consistent trading in the market. ● Expected annual rate of quarterly dividends. An entity that uses a method that employs different dividend rates during the contractual term shall disclose the range of expected dividends used and the weighted-average expected dividends. The expected dividend yield is based on the Company’s current dividend yield as the best estimate of projected dividend yield for periods within the expected term of the share options and similar instruments. ● Risk-free rate(s). An entity that uses a method that employs different risk-free rates shall disclose the range of risk-free rates used. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods within the expected term of the share options and similar instruments. Pursuant to Paragraphs 505-50-25-8 and 505-50-25-9, an entity may grant fully-vested, non-forfeitable equity instruments that are exercisable by the grantee only after a specified period of time if the terms of the agreement provide for earlier exercisability if the grantee achieves specified performance conditions. Any measured cost of the transaction shall be recognized in the same period(s) and in the same manner as if the entity had paid cash for the goods or services or used cash rebates as a sales discount instead of paying with, or using, the equity instruments. A recognized asset, expense, or sales discount shall not be reversed if a share option and similar instrument that the counterparty has the right to exercise expires unexercised.
Income Taxes	(M) Income Taxes The Company accounts for income taxes under Accounting Standards Codification (ASC) Topic 740. Deferred tax assets and liabilities are determined based upon differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. A valuation allowance is provided when it is more likely than not that some portion or all of a deferred tax asset will not be realized. The Company adopted the provisions of ASC Topic 740, on January 1, 2007. Previously, the Company had accounted for tax contingencies in accordance with Statement of Financial Accounting Standards No. 5, Accounting for Contingencies. The Company is not currently under examination by any federal or state jurisdiction. The Company’s policy is to record tax-related interest and penalties as a component of operating expenses.
Inventory	(N) Inventory Inventories are recorded in accordance with ASC 330 and are stated at the lower of cost or net realizable value. We account for inventories using the first in first out (FIFO) methodology and capitalize costs on a project basis as they occur.
Recent Accounting Pronouncements	(O) Recent Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. Topic 842 affects any entity that enters into a lease, with some specified scope exemptions. The guidance in this ASU supersedes Topic 840, Leases. The core principle of Topic 842 is that a lessee should recognize the assets and liabilities that arise from leases. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use (“ROU”) asset representing its right to use the underlying asset for the lease term. For public companies, the amendments in this ASU are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company expects to recognize ROU assets and related obligations upon adoption of ASU 2016-02. The Company does not expect the adoption on this new standard to have any material effect upon the financial statements. The change from revenue recognition according to FASB issued ASC 605 to ASC 606 had no effect on the Company’s financial statements for the years ending March 31, 2017 and March 31, 2018, or the three and six month periods ending September 30, 2017, and September 30, 2018. All other newly issued accounting pronouncements but not yet effective have been deemed either immaterial or not applicable.

Common Stock and Warrants (Tabl

Common Stock and Warrants (Tables)	6 Months Ended
	Sep. 30, 2018
Equity [Abstract]
Schedule of Warrant Activity	A summary of warrant activity for the periods ending March 31, 2018 and September 30, 2018 is as follows: Number of Warrants Weighted-Average Exercise Price Warrants Exercisable Weighted-Average Exercisable Price Outstanding, March 31, 2017 133,250 2.00 133,250 2.00 Granted 3,413,459 .54 Exercised 60,000 1.50 Outstanding, March 31, 2018 3,486,709 .59 2,433,601 .57 Granted 657,500 1.00 Exercised 307,786 .50 Cancelled 100,000 1.00 Outstanding, September 30, 2018 3,736,423 .66 2,508,366 .62
Schedule of Range of Warrant Prices	At September 30, 2018, the range of warrant prices for shares under warrants and the weighted-average remaining contractual life is as follows: Warrants Outstanding Warrants Exercisable Range of Warrant Exercise Price Number of Warrants Weighted-Average Exercise Price Weighted- (Years) Number of Warrants Weighted- Average Exercise Price .30-.50 2,495,673 .43 2.52 2,020,673 .46 .51-1.00 1,167,500 1.02 4.27 414,443 1.00 1.01-3.50 73,250 2.82 2.19 73,250 2.82 Total 3,736,423 .66 3.06 2,508,366 .62

Lease and Commitments (Tables)

Lease and Commitments (Tables)	6 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Commitments	. Future minimum rental commitments are as follows: Year Ended March 31, 2019 $ 12,468 2020 $ 24,936 2021 $ 24,936 2022 $ 24,936 2023 $ 24,936 Thereafter $ 21,770 $ 133,982

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Sep. 30, 2018
Inventory Disclosure [Abstract]
Schedule of Inventory	September 30, 2018 Finished Goods $ 45,573 Work in Process -0- Manufacturing Supplies 2,834 Raw Materials 9,368 Total Inventory $ 57,775

Summary of Significant Accoun_3

Summary of Significant Accounting Policies and Organization (Details Narrative) - USD ($)	Apr. 10, 2017	Sep. 30, 2018	Mar. 31, 2018
Cash		$ 43,674
Cash equivalents
Warrants outstanding		3,736,423
Weighted average exercise price of warrants price per share		$ 0.66
Assets and liabilities measured at fair value
Income tax likelihood percentage		greater than 50 percent
Maximum [Member]
Weighted average exercise price of warrants price per share		$ 3.50
Minimum [Member]
Weighted average exercise price of warrants price per share		$ 0.30
Patents And Trademarks [Member]
Estimated useful life of intangible asset		60 months
Equipment [Member]
Estimated useful life of assets		3 years
Automobiles [Member]
Estimated useful life of assets		5 years
Furniture and Fixtures [Member]
Estimated useful life of assets		7 years
Gel-Del Technologies, Inc [Member]
Number of shares issued during period	5,450,000
Market price per share	$ 0.40
Issued shares equaled value	$ 2,180,000

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ (740,881)	$ (321,456)	$ (2,840,466)	$ (822,487)	$ (2,337,338)
Working capital	$ (1,423,792)		(1,423,792)
Cash used in operations			$ (436,292)	$ 77,506

Notes Payable (Details Narrativ

Notes Payable (Details Narrative)	6 Months Ended
	Sep. 30, 2018USD ($)$ / sharesshares
Several notes payable	$ 165,000
Accrued interst	$ 1,790
Debt interest percenatge	12.00%
Debt description	The note terms dictate 12% simple interest, compounding daily based on a 365-day year, paid out 6 months from the date of the note.
Detachable warrant purchase of exercisable, per share | $ / shares	$ 0.66
Warrant [Member]
Detachable warrant purchase of exercisable, per share | $ / shares	$ 1
Detachable warrant shares | shares	82,500
Debt discount	$ 40,325
Amortized to interest expense	$ 6,721

Notes Payable - Related Party (

Notes Payable - Related Party (Details Narrative) - USD ($)	6 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018	Mar. 31, 2018
Note payable and accrued interest	$ 141,011	$ 141,011	$ 103,279
Detachable warrant of exercisable, per share	$ 0.66	$ 0.66
Accrued interst	$ 1,790
Debt interest percenatge	12.00%	12.00%
Debt description	The note terms dictate 12% simple interest, compounding daily based on a 365-day year, paid out 6 months from the date of the note.
Warrant [Member]
Debt discount	$ 40,325	$ 40,325
Detachable warrant shares	82,500	82,500
Detachable warrant of exercisable, per share	$ 1	$ 1
Amortized to interest expense	$ 6,721	$ 6,721
Director [Member]
Note payable and accrued interest	100,701	100,701
Due amount, per month		3,100
Exess sale of equity		3,500,000
Debt principal amount	50,000	50,000
Debt discount	10,183	10,183
Director [Member] | Warrant [Member]
Debt discount	$ 10,183	$ 10,183
Detachable warrant shares	25,000	25,000
Debt term		3 years
Detachable warrant of exercisable, per share	$ 1	$ 1
Accrued interst		$ 493
Debt interest percenatge	12.00%	12.00%
Debt description		The note terms dictate 12% simple interest, compounding daily based on a 365-day year, paid out 6 months from the date of the note.
Amortized to interest expense	$ 2,036	$ 2,036

Common Stock and Warrants (Deta

Common Stock and Warrants (Details Narrative) - USD ($)	1 Months Ended		6 Months Ended		9 Months Ended	12 Months Ended
	Dec. 31, 2017	Sep. 30, 2016	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Mar. 31, 2018
Value of shares issued during period
Common stock issued to reduce debt			$ 95,463
Stock based compensation granted						863,871
Weighted average exercise price of warrants price per share			$ 0.66		$ 0.66
Number of shares issued during period for services			$ 611,951
Warrant exercise value			$ 153,893
Common Stock [Member]
Number of shares issued during period, shares			2,239,013
Common stock issued to reduce debt, shares			520,749			485,287
Common stock issued to reduce debt			$ 296,521			$ 181,967
Common stock issued for cash, shares			310,000
Common stock issued for cash			$ 310,000
Number of warrants exercise or issued			367,786		367,786
Number of shares issued during period for services, shares			361,816
Number of shares issued during period for services			$ 626,951
Warrant exercise value					$ 213,893
Common Stock [Member] | John Lai [Member]
Number of shares issued during period, shares			478,662
Value of shares issued during period			$ 861,592
Number of shares issued during period for services, shares			324,723
Number of shares issued during period for services			$ 584,500
Common Stock [Member] | Wesley Hayne [Member]
Stock based compensation granted, shares						200,000
Stock based compensation granted						$ 42,000
Common Stock [Member] | One Individual [Member]
Number of shares issued during period, shares	250,000	60,000
Value of shares issued during period	$ 250,000	$ 60,000
Warrants [Member]
Number of warrants exercise or issued			60,000		60,000
Weighted average exercise price of warrants price per share			$ 1		$ 1
Warrants One [Member]
Number of warrants exercise or issued			307,786		307,786
Weighted average exercise price of warrants price per share			$ 0.50		$ 0.50
Warrant [Member]
Number of warrants exercise or issued			657,500		657,500
Weighted average exercise price of warrants price per share			$ 1		$ 1
Warrant [Member] | Bridge Note Agreements [Member]
Number of warrants exercise or issued			107,500		107,500
Warrant vested, description					vested immediately, and exercisable over a three-year term
Warrant term			3 years		3 years
Warrant [Member] | Two Advisory Board Members [Member]
Number of warrants exercise or issued			80,000		80,000
Weighted average exercise price of warrants price per share			$ 1		$ 1
Warrant vested, description			Vested semi-annually over two years
Warrant term			5 years		5 years
Warrant [Member] | John Carruth [Member]
Number of warrants exercise or issued			80,000		80,000
Weighted average exercise price of warrants price per share			$ 1		$ 1
Warrant vested, description			Vested quarterly over two years
Warrant term			5 years		5 years
Warrant [Member] | Lawyer [Member]
Number of warrants exercise or issued			30,000		30,000
Weighted average exercise price of warrants price per share			$ 1		$ 1
Warrant term			5 years		5 years
Warrant [Member] | Information Technology Service [Member]
Number of warrants exercise or issued			60,000		60,000
Warrant term			5 years		5 years
Warrant [Member] | Director One [Member]
Number of warrants exercise or issued			300,000		300,000
Weighted average exercise price of warrants price per share			$ 1		$ 1
Warrant vested, description					vested quarterly over two years
Warrant term			5 years		5 years
Warrant [Member] | Director Two[Member]
Number of warrants exercise or issued			300,000		300,000
Weighted average exercise price of warrants price per share			$ 1		$ 1
Warrant vested, description					vested quarterly over two years
Warrant term			5 years		5 years
Warrant [Member] | Director Three[Member]
Number of warrants exercise or issued			300,000		300,000
Weighted average exercise price of warrants price per share			$ 1		$ 1
Warrant vested, description					vested quarterly over two years
Warrant term			5 years		5 years
Warrant One [Member]
Number of warrants exercise or issued			100,000		100,000
Warrant One [Member] | Service Provider [Member]
Number of warrants exercise or issued			60,000		60,000
Warrant One [Member] | Former Advisory [Member]
Number of warrants exercise or issued			40,000		40,000
Warrant Two [Member]
Number of warrants exercise or issued			307,786		307,786
Weighted average exercise price of warrants price per share			$ 0.50		$ 0.50
Warrant exercise value			$ 153,893

Common Stock and Warrants - Sch

Common Stock and Warrants - Schedule of Warrant Activity (Details) - Warrant [Member] - $ / shares	6 Months Ended	12 Months Ended
	Sep. 30, 2018	Mar. 31, 2018
Number of Warrants, Outstaning, Beinning Balance	3,486,709	133,250
Number of Warrants, Granted	657,500	3,413,459
Number of Warrants, Exercised	307,786	60,000
Number of Warrants, Cancelled	100,000
Number of Warrants, Outstaning, Ending Balance	3,736,423	3,486,709
Weighted-Average Exercise Price, Outstaning, Beinning Balance	$ 0.59	$ 2
Weighted-Average Exercise Price, Granted	1	.54
Weighted-Average Exercise Price, Exercised	0.50	1.50
Weighted-Average Exercise Price, Cancelled	1
Weighted-Average Exercise Price, Outstaning, Ending Balance	$ 0.66	$ 0.59
Warrants Exercisable, Outstaning, Beinning Balance	2,433,601	133,250
Warrants Exercisable, Granted
Warrants Exercisable, Exercised
Warrants Exercisable, Cancelled
Warrants Exercisable, Outstaning, Ending Balance	2,508,366	2,433,601
Weighted-Average Exercisable Price, Outstaning, Beinning Balance	$ 0.57	$ 2
Weighted-Average Exercisable Price, Granted
Weighted-Average Exercisable Price, Exercised
Weighted-Average Exercisable Price, Cancelled
Weighted-Average Exercisable Price, Outstaning, Ending Balance	$ 0.62	$ 0.57

Common Stock and Warrants - S_2

Common Stock and Warrants - Schedule of Range of Warrant Prices (Details) - Warrant [Member]	6 Months Ended
	Sep. 30, 2018$ / sharesshares
Number of Warrants, Outstanding | shares	3,736,423
Weighted-Average Exercise Price, outstanding	$ 0.66
Weighted-Average Remaining Contractual Life (Years), Outstanding	3 years 22 days
Number of Warrants, Exercisable | shares	2,508,366
Weighted-Average Exercise Price, Exercisable	$ 0.62
Range One [Member]
Range of Warrant Exercise Price, Outstanding	.30
Range of Warrant Exercise Price, Outstanding	$ .50
Number of Warrants, Outstanding | shares	2,495,673
Weighted-Average Exercise Price, outstanding	$ 0.43
Weighted-Average Remaining Contractual Life (Years), Outstanding	2 years 6 months 7 days
Number of Warrants, Exercisable | shares	2,020,673
Weighted-Average Exercise Price, Exercisable	$ 0.46
Range Two [Member]
Range of Warrant Exercise Price, Outstanding	0.51
Range of Warrant Exercise Price, Outstanding	$ 1
Number of Warrants, Outstanding | shares	1,167,500
Weighted-Average Exercise Price, outstanding	$ 1.02
Weighted-Average Remaining Contractual Life (Years), Outstanding	4 years 3 months 8 days
Number of Warrants, Exercisable | shares	414,443
Weighted-Average Exercise Price, Exercisable	$ 1
Range Three [Member]
Range of Warrant Exercise Price, Outstanding	1.01
Range of Warrant Exercise Price, Outstanding	$ 3.50
Number of Warrants, Outstanding | shares	73,250
Weighted-Average Exercise Price, outstanding	$ 2.82
Weighted-Average Remaining Contractual Life (Years), Outstanding	2 years 2 months 8 days
Number of Warrants, Exercisable | shares	73,250
Weighted-Average Exercise Price, Exercisable	$ 2.82

Merger Agreement with Gel-Del (

Merger Agreement with Gel-Del (Details Narrative) - USD ($)	Apr. 10, 2015	Sep. 30, 2018
Common shares aggregate consideration	Determined the fair value of Gel-Del based on the agreed consideration of 4,150,000 common shares using the $4.02 per share trading price
Fair value determined based on agreed consideration of common shares	4,150,000
Share price	$ 4.02
Assets value		$ 295,716
Liabilities value		2,295,462
Assets acquired and liabilities assumed		1,999,746
Total purchase consideration		18,978,462
Goodwill		13,407,693
Patents and trademarks		5,570,769
Non-controlling interest		$ 16,683,000
Ownership percentage		100.00%
Effective Date of Merger [Member]
Total purchase consideration		$ 2,180,000
Acquisition of common stock outstanding, percentage		30.00%
Share issued price per share		$ 0.40
Completion of Merger [Member]
Goodwill		$ 13,407,693
Patents and trademarks		1,292,307
Impairment loss		$ 14,700,000
Initial Merger Agreement [Member]
Number of common stock shares issued		5,450,000
Merger agreement converted, description		Each outstandng common share of Gel-Del being converted into 0.788 common share of our company.
Initial Merger Agreement [Member]
Ownership percentage		31.30%

Lease and Commitments (Details

Lease and Commitments (Details Narrative)	3 Months Ended		6 Months Ended
	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Jul. 02, 2018ft²	May 03, 2017ft²
Rent expense | $	$ 25,807	$ 10,990	$ 40,414	$ 25,184
90 Days of Lease [Member]
Area of land | ft²					1,000
Eighty-Four Month of Lease [Member]
Rent expense | $			$ 2,078
Area of land | ft²						3,577

Lease and Commitments - Schedul

Lease and Commitments - Schedule of Future Minimum Rental Commitments (Details)	Sep. 30, 2018USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,019	$ 12,468
2,020	24,936
2,021	24,936
2,022	24,936
2,023	24,936
There after	21,770
Total	$ 133,982

Operating Loss (Details Narrati

Operating Loss (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Notes to Financial Statements
Operating loss	$ (727,592)	$ (313,102)	$ (2,824,680)	$ (796,423)
Equity issaunce primarily due amount	$ 202,434	$ 42,000	1,937,292	$ 139,612
Warrant expense			463,749
Warrant stock expense			$ 1,473,543

Inventory (Details Narrative)

Inventory (Details Narrative) - USD ($)	Sep. 30, 2018	Mar. 31, 2018
Inventory Disclosure [Abstract]
Total Inventory	$ 57,775	$ 25,554

Inventory - Schedule of invento

Inventory - Schedule of inventory (Details) - USD ($)	Sep. 30, 2018	Mar. 31, 2018
Inventory Disclosure [Abstract]
Finished Goods	$ 45,573
Work in Process	0
Manufacturing Supplies	2,834
Raw Materials	9,368
Total Inventory	$ 57,775	$ 25,554

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)	Nov. 01, 2018	Oct. 02, 2018	Sep. 30, 2018	Mar. 31, 2018
Note payable and accrued interest			$ 141,011	$ 103,279
Debt description			The note terms dictate 12% simple interest, compounding daily based on a 365-day year, paid out 6 months from the date of the note.
Subsequent Event [Member]
Inventory wriiten down value	$ 47,500
Subsequent Event [Member] | Bridge Note Agreement [Member]
Note payable and accrued interest		$ 25,000
Debt description		Debt description
Detachable warrant shares		12,500