Company: BIVIW
Filing Date: 2025-08-04
Form Type: S-1/A
Source: 0001520138-25-000235
Chunk: 189

Company: BIOVIE INC.
Filing Date: 2025-08-04
Form: S-1/A
Chunk 189
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 consolidated these two actions under the caption In re BioVie Inc. Securities Litigation,
No. 3:24-cv-00035, appointed the lead plaintiff, and approved selection of the lead counsel. On June 21, 2024, the lead plaintiff filed
an amended complaint, alleging that the defendants made material misrepresentations and/or omissions of material fact relating to the
Company’s business, operations, compliance, and prospects, including information related to the NM101 Phase 3 study and trial of
bezisterim (NE3107) in mild to moderate probable AD, in violation of Sections 10(b) and 20(a) of the Exchange Act, and Rule 10b-5 promulgated thereunder. The class action is on behalf of purchasers of the Company’s securities during the period from December 7, 2022 through November 28, 2023 and seeks unspecified monetary damages on behalf of the putative class and an award of costs and expenses, including attorney’s fees. The defendants filed a motion to dismiss the amended complaint on August 21, 2024.

The Company believes the lawsuit is without merit
and intends to defend the case vigorously. At this early stage of the proceedings, the Company is unable to make any prediction regarding
the outcome of the litigation. No adjustment or accruals have been reflected in the accompanying financial statements.

| 12. | Employee Benefit Plan |

On August 1, 2021, the Company began sponsoring an
employee benefit plan subject to Section 401(K) of the Internal Revenue Service Code (the “401K Plan”) pursuant to which,
all employees meeting eligibility requirements are able to participate.

Subject to certain limitations in the Internal Revenue Code, eligible employees
are permitted to make contributions to the 401K Plan on a pre-tax salary reduction basis and the Company will match 5% of the first 5%
of an employee’s contributions to the 401K Plan. The Company made contributions into the plan of approximately $153,200 and $171,900,
for the years ended June 30, 2024 and 2023, respectively.

F-24

| 13. | Income Taxes |

Significant components of the Company’s deferred tax assets (liabilities)
are as follows:

| Schedule of deferred tax assets    |     |   | June 30, 2024 |   |     |   | June 30, 2023 |   |
|:-----------------------------------|