Company: BIVIW
Filing Date: 2025-08-04
Form Type: S-1/A
Source: 0001520138-25-000235
Chunk: 170

Company: BIOVIE INC.
Filing Date: 2025-08-04
Form: S-1/A
Chunk 170
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 the carrying amount of an asset may not be recoverable.
Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted
future cash flows expected to be generated by the asset.

If the carrying amount of an asset exceeds its undiscounted
estimated future cash flows, an impairment review is performed. An impairment charge is recognized in the amount by which the carrying
amount of the asset exceeds the fair value of the asset. Generally, fair value is determined using valuation techniques such as expected
discounted cash flows or appraisals, as appropriate. Assets to be disposed of would be separately presented in the balance sheet and reported
at the lower of the carrying amount or fair value less costs to sell, and are no longer depreciated or amortized. The assets and liabilities
of a disposed group classified as held for sale would be presented separately in the appropriate asset and liability sections of the balance
sheets. The Company did not recognize any long-lived asset impairments for the years ended June 30, 2024 and 2023.

Reverse stock split up

The company effected a 1:10 reverse split of the issued and outstanding
shares of its Class A commons stock which was approved by the board of director after the approval obtained from shareholders at a special
meeting on July 29, 2024 which became effective on Nasdaq on August 6, 2024, 5 trading days after the shareholders’ approval was
obtained. All historical share and earnings per share amounts have been retroactively adjusted to reflect the split.

Recent Accounting Pronouncements

The Company considers the applicability and impact
of all Accounting Standards Updates (“ASU’s”). There were no recent ASU’s that are expected to have a material
impact on our balance sheets or statements of operations and comprehensive loss.

In June 2016, the Financial Accounting Standards Board
(“FASB”) issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on
Financial Instruments” (“ASU 2016-13”). This amendment replaces the incurred loss impairment methodology in current
GAAP with a methodology that reflects expected credit losses on instruments within its scope, including trade receivables. This update
is intended to provide financial statement users with more decision-useful information about the expected credit losses. The Company adopted
ASU 2016-13 effective July 1, 202