Company: BIVIW
Filing Date: 2025-07-22
Form Type: S-1/A
Source: 0001520138-25-000216
Chunk: 157

Company: BIOVIE INC.
Filing Date: 2025-07-22
Form: S-1/A
Chunk 157
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 over research and development expense classification
and the completeness and accuracy of related accruals, independently researching vendors, testing a selection of research and development
expense transactions to determine, based on the underlying supporting documents, the mathematical accuracy of the expense and the appropriateness
of the expense classification. In addition, we made inquiries of management and reviewed subsequent payments, invoices and agreements
relating to certain research and development expenses to ensure that accruals were properly recorded as of June 30, 2024.

/s/ EisnerAmper LLP

We have served as the Company’s auditor since
2019.

EISNERAMPER LLP

Iselin, New Jersey

September 30, 2024

<div align='center'>F-3

BioVie Inc.

Balance Sheets</div>

| ASSETS                                                                                                                              
 CURRENT                                                                                                                             
 ASSETS:                                                                                                                             |     | June 
 30,  
 2024 |              |   |     | June 
 30,  
 2023 |              |   |
|:------------------------------------------------------------------------------------------------------------------------------------|:----|:-----|-------------:|:--|:----|:-----|-------------:|:--|
| Cash                                                                                                                                
 and cash equivalents                                                                                                                |     | $    |   23,843,798 |   |     | $    |   19,460,883 |   |
| Investments                                                                                                                         
 in U.S. Treasury Bills (available-for-sale)                                                                                         |     |      |            - |   |     |      |   14,477,726 |   |
| Prepaid                                                                                                                             
 and other current assets                                                                                                            |     |      |      204,392 |   |     |      |      102,526 |   |
| Total                                                                                                                               
 current assets                                                                                                                      |     |      |   24,048,190 |   |     |      |   34,041,135 |   |
| Operating                                                                                                                           
 lease right-of-use assets, net                                                                                                      |     |      |      406,726 |   |     |      |       80,789 |   |
| Intangible                                                                                                                          
 assets, net                                                                                                                         |     |      |      407,718 |   |     |      |      637,095 |   |
| Goodwill                                                                                                                            |     |      |      345,711 |   |     |      |      345,711 |   |
| TOTAL                                                                                                                               
 ASSETS