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EDINA, MN – PetVivo Holdings, Inc. (OTCQB:PETV), a player in the surgical and medical instruments sector, has entered into a financial agreement with a board member, Michael Eldred, according to a recent 8K filing with the Securities and Exchange Commission. The company, based in Edina, Minnesota, reported on Monday that it has issued a promissory note with a principal amount of $200,000, set to mature on September 3, 2025. The note carries an annual interest rate of 12%. According to InvestingPro data, the company’s current ratio stands at 0.42, indicating that short-term obligations exceed liquid assets, which may explain the need for additional funding.
In addition to the financial obligation, PetVivo has granted the lender a warrant to purchase 100,000 shares of common stock at an exercise price of $0.50 per share, valid for two years. This move is part of a broader strategy to secure funding for the company, which specializes in surgical and medical instruments and apparatus. The company’s financial metrics from InvestingPro show annual revenue of $0.96 million with a notable gross profit margin of 76.13%, though EBITDA remains negative at -$8.49 million for the last twelve months.
The promissory note and the associated warrant were created as additional compensation for the lender’s agreement to provide the loan. The terms of the agreement stipulate that the loan must be repaid by the specified maturity date, and the interest will accrue at the aforementioned rate.
PetVivo Holdings has made it clear that this financial maneuver is aimed at enhancing its capital structure and securing the funds necessary for its operations. The details of the promissory note and the warrant were outlined in the 8K filing, which serves as the source for this news report.
Investors and stakeholders in PetVivo Holdings may view the promissory note as a significant step in the company’s financial management and strategy. The company’s decision to engage with a board member for this financial obligation reflects an internal approach to funding.
As the company continues to navigate the competitive landscape of the medical devices industry, such financial arrangements are crucial for sustaining operations and pursuing growth. PetVivo’s ability to secure funding through promissory notes and warrants may be indicative of its commitment to financial stability and its strategic planning efforts. For deeper insights into PetVivo’s financial health and growth prospects, investors can access comprehensive analysis and additional ProTips through InvestingPro’s detailed research reports, which provide expert analysis on over 1,400 US stocks.
This report is based on a press release statement.
In other recent news, PetVivo Holdings Inc. reported a significant increase in its third-quarter fiscal year 2025 revenues, which surged by 191% sequentially to $583,000, despite a slight 2% year-over-year decline. The company maintained a robust gross margin of 89.5% and reduced its net loss to $6 million from $8.3 million the previous year. This growth was largely driven by an expanded distribution network reaching over 800 veterinary clinics, generating sales of $545,000. Additionally, PetVivo Holdings secured $500,000 in financing through promissory notes from two existing shareholders, with the funds aimed at supporting its operations and development efforts.
The promissory notes, issued on February 14, 2025, include a one-year maturity and a 10% annual interest rate, with conversion options into restricted shares. Alongside the notes, shareholders received warrants to purchase additional shares, enhancing their investment potential. The financing move reflects PetVivo’s ongoing efforts to bolster its financial position and support its strategic initiatives. Furthermore, the company continues to focus on expanding its presence in both the small animal and equine markets, with plans to engage corporate veterinary clinic networks. PetVivo’s recent strategic partnerships and clinical studies underscore its commitment to growth and innovation in the veterinary sector.
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