Company: BIVIW
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001520138-25-000144
Chunk: 61

Company: BIOVIE INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 61
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 from continuing operations before income tax expense disaggregated between
domestic and foreign and income tax expense from continuing operations disaggregated by federal, state and foreign. The new rules are
effective for annual periods beginning after December 15, 2024. We will adopt this standard on a prospective basis as allowed by the
standard. The adoption of this standard is not expected to have a material impact on our financial statements.

    4.
    Intangible Assets

The Company’s intangible assets consist of intellectual property
acquired from LAT Pharma, Inc. and are amortized over their estimated useful lives.

The following is a summary of the Company’s intangible assets:

    Schedule of intangible assets 

    March 31, 2025  
    June 30, 2024 

    Intellectual Property 
    $2,293,770  
    $2,293,770 
  
    Less: Accumulated Amortization 
     (2,058,085) 
     (1,886,052)
  
    Intellectual Property, Net 
    $235,685  
    $407,718 

Amortization expense was $57,344 in each of the three-month
periods ended March 31, 2025 and 2024. Amortization expense was $172,033 in each of the nine-month periods ended March 31, 2025 and 2024.
The Company amortizes intellectual property over the expected original useful lives of 10 years.

Estimated future amortization expense is as follows: 

    Schedule of future amortization expense 

    Year ending June 30, 2025 (Remaining 3 months) 
    $57,344 
  
    2026 
     178,341 

    $235,685 

    5.
    Related Party Transactions

Equity Transactions with Acuitas

On July 15, 2022, the Company entered into a securities
purchase agreement with Acuitas Group Holdings, LLC (“Acuitas”), the Company’s largest stockholder, pursuant to which
Acuitas agreed to purchase from the Company, in a private placement, (i) an aggregate of 363,636 shares of the Company’s Common
Stock, at a price of $16.50 per share (the “PIPE Shares”), and (ii) a warrant to purchase 727,273 shares of Common Stock (“PIPE
Warrant Shares”), at an exercise price of $