Company: BIVIW
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001520138-25-000144
Chunk: 85

Company: BIOVIE INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 85
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ategic plans, there is no assurance that the Company will be successful in obtaining sufficient financing on terms acceptable to the
Company, if at all, to fund continuing operations. These circumstances raise substantial doubt on the Company’s ability to continue
as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. 

Critical Accounting Policies and Estimates

For the nine-month period ended March 31, 2025, the
Company added a Grant Program accounting policy that is disclosed in the Significant Accounting Policies section of this Form 10-Q. There
were no other significant changes to the Company’s critical accounting policies as identified in the Annual Report Form 10-K for
the fiscal year ended June 30, 2024.

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New Accounting Pronouncements

The Company considered the applicability and impact
of recent accounting pronouncements and determined those to be either not applicable or expected to have minimal impact on our balance
sheets or statement of operations and comprehensive loss.

Item 3. Quantitative and Qualitative Disclosures
About Market Risk

Not applicable to smaller reporting companies.

Item 4. Controls and Procedures

We maintain “disclosure controls and procedures.”
Such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act that are designed to ensure that information required to
be disclosed by us in reports that we file or submit under the Exchange Act is recorded, processed, summarized, and reported within the
time periods specified in Securities and Exchange Commission rules and forms, and that such information is accumulated and communicated
to our management, including our Chief Executive Office and Chief Financial officer, as appropriate, to allow timely decisions regarding
required disclosure. In designing and evaluating our disclosure controls and procedures, management recognized that disclosure controls
and procedures, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of
the disclosure controls and procedures are met. Our disclosure controls and procedures have been designed to meet reasonable assurance
standards. Additionally, in designing disclosure controls and procedures, our management necessarily was required to apply its judgement
in evaluating the cost-benefit relationship of possible disclosure and procedures. The design of and disclosure controls and procedures
also are based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will
succeed in achieving its stated goals under all potential future conditions.

Based on their evaluation as of the end of the period
covered