Company: BIVIW
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001520138-25-000144
Chunk: 59

Company: BIOVIE INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 59
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 The carrying amounts of
notes payable and operating lease liabilities approximate their fair values since they bear interest at rates which approximate market
rates for similar debt instruments.

Net Loss per Common Share

Basic net loss per common share is computed by dividing the net loss
attributable to common stockholders by the weighted average number of shares of the Company’s Class A common stock (“Common
Stock”) outstanding during the period. Diluted net loss per common share is computed by dividing the net loss attributable to Common
Stockholders by the weighted average number of shares of Common Stock outstanding and potentially outstanding shares of Common Stock during
the period to reflect the potential dilution that could occur from common shares issuable through stock options, warrants, and convertible
debentures. For the three and nine months ending March 31, 2025 and 2024, such amounts were excluded from the diluted loss since their
effect was considered anti-dilutive due to the net loss for the periods presented.

The table below shows the potential shares of Common Stock, presented
based on amounts outstanding at each period end, which were excluded from the computation of diluted net loss per share attributable to
common stockholders because including them would have had an anti-dilutive effect:

    Schedule of dilutive securities were excluded from the computation of diluted loss per share 

    March 31, 2025  
    March 31, 2024 

    Number of Shares  
    Number of Shares 
  
    Stock Options 
     887,129  
     402,276 
  
    Warrants 
     9,600,564  
     1,932,029 
  
    Restricted Stock Units 
     109,039  
     53,992 
  
    Notes payable conversion option 
     -  
     71,633 
  
    Total 
     10,596,732  
     2,459,930 

Reverse stock split

The company effected a 1:10 reverse split of the issued
and outstanding shares of its Common Stock which was approved by the board of directors 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. 

     11 

Grant program

The Company records expenses related