In case you missed it, PetVivo Holdings, Inc. (OTCQB: PETV) published a press release on December 29, 2020 announcing a reverse stock split in efforts to improve the company’s capital structure related to listing requirements for a planned future listing of the company’s common stock on the Nasdaq Capital Market.
As a result of the stock split, each 4 shares of the Company’s outstanding common stock will be converted into 1 share of common stock bringing the outstanding shares down to 6,718,252 shares. Any shareholder left holding a fractional share as a result of the reverse split ration will have that fractional share rounded up to a whole share.
The reverse split took effect on December 29th at 5:00 PM, and the Company’s common stock began trading on a split-adjusted basis on Wednesday, December 30th under a temporary symbol PETVD, and new CUSIP number 716817408.
The stock will trade under the symbol PETVD for 20 business days including the effective date of December 20, 2020.
On November 23, 2020, PetVivo Holdings (OTCQB: PETV) filed an 8-K where the Company adopted and approved an amended and restated “Charter of the Audit Committee”, “Charter of the Compensation Committee” and a “Nominating and Corporate Governance Committee Charter?” All of which are required by NASDAQ.
PetVivo Holdings’ Audit Committee will consist of three or more directors and each committee member will, among other requirements, qualify as an independent director, and at least one of them will qualify as an “audit committee financial expert”, all also as required by NASDAQ Rules.
PetVivo Holdings’ Compensation Committee will consist of two or more directors and each committee member will, among other requirements be independent in accordance with the NASDAQ Rules.
Nominating and Corporate Governance Committee:
PetVivo Holdings’ Nominating and Corporate Governance Committee will consist of two or more directors and each committee member will qualify as an independent director in accordance with the rules of the NASAQ Stock Market.
See page 11 of the “Nasdaq Official Listing Guide of June 2020”.
There is a niche biotech company called PetVivo, Holdings, Inc. (OTCQB: PETV) is an emerging biomedical device company focused on the commercialization of innovative medical therapeutics for pets. PetVivo is benefiting from trials on the human side with a lower barrier to approval for pets.
The company recently announced a sponsored research agreement with Colorado State University (“CSU”) College of Veterinary Medicine and Biomedical Sciences to engage in a clinical study involving the treatment of osteoarthritis in canines through the administration of PetVivo’s proprietary medical device, KUSH
PetVivo Holdings, Inc. (OTCQB: PETV) also recently announced that a company out of Orlando, Florida called nScrypt that designs and manufactures high-precision industrial Micro-dispensing and Direct Digital Manufacturing equipment, has just successfully 3D bio-printed PetVivo’s (OTCQB: PETV) biomaterial for orthopedic implants using its Bio-Fabrication Tool (BAT). To the best of the company’s knowledge, there is no other company that has the ability to provide these life-based components for the 3D printing marketplace.
Direxion S&P Biotech Bull (LABU) has rallied from its covid19 lows of March 18th, of $12.00 hitting a new annual high of $130.00 on December 22 before its retracement to $96 yesterday. Its all-time high of $240.00, and after a healthy retracement, it could be on its way there signaling that biotech’s still have a way to go.
Tech companies, according to an article in CNBC, are lining up to go public. These include DoorDash, Airbnb, Affirm, Roblox and Wish. But with Covid-19 numbers hitting record high’s it’s no wonder biotech has been the stronger space.
More about PetVivo Holdings, Inc. (OTCQB: PETV)
KUSH, a veterinarian-administered intraarticular injection for the treatment of osteoarthritis in dogs and horses is intended to provide a lubricious cushion between the bones to reinforce cartilage. KUSH is scheduled for expanded commercial sales and the development of its proprietary mucoadhesive active agent delivery products.
Sales in the $4.8 billion dog and horse therapeutics market is expected to begin shortly.
With regard to nScrypt, the applications and cures for this technology are endless. Implants, replacements, up until and including the present, have been made with foreign ingredients like titanium and other metals. The future of this science now lies with the technology that allows for a more biologically familiar biomaterial. PetVivo’s biomaterial is made from the same components as the body’s natural tissue, allowing cells to be added to the structures being printed.
Ultimately, this breakthrough could lead to the creation of implants that actually mimic the bone itself.
Currently PetVivo Holdings, Inc. (OTCQB: PETV) has only 26 million shares outstanding and a market cap of $34 million according to OTCMarkets.
Back in July, the stock was given a target price of between $1.74 and $2.32 per share by Marble Arch Research. You can download the full report here: – Among other results, the report states “At ~1x FY23 sales, the stock is substantially undervalued relative to its comps mostly trading in a comparable 3X-4X P/S multiple range.”
Goldman Research just announced a new report with its current target price under review. You can see the report here:Pet Vivo (OTCQB: PETV) also has a portfolio of 19 patents that protect the company’s pipeline of 16 products for the treatment of animals and people.
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