Company: BIVIW
Filing Date: 2025-07-11
Form Type: S-1/A
Source: 0001520138-25-000205
Chunk: 205

Company: BIOVIE INC.
Filing Date: 2025-07-11
Form: S-1/A
Chunk 205
---
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.

F-33

Grant program

The Company records expenses related to the DOD Long
Covid Program as such expenses are incurred. The reimbursement of such expenses is recognized upon receipt of the reimbursement as a credit
against the respective expense account.

Recent Accounting Pronouncements

In November 2024, the Financial
Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2024-03, Disaggregation of
Income Statement Expenses (“DISE”), which will require additional disclosure of the nature of expenses included in the income
statement in response to longstanding requests from investors for more information about an entity’s expenses. The new standard
requires disclosures about specific types of expenses included in the expense captions presented on the face of the income statement as
well as disclosures about selling expenses. The new standard will be effective for public companies for fiscal years beginning after December
15, 2026, and interim periods within fiscal years beginning after December 15, 2027. The requirements will be applied prospectively with
the option for retrospective application. Early adoption is permitted. The Company is currently evaluating the impact of this accounting
standard update on its financial statements.

In November 2023, the FASB issued ASU 2023-07, "Segment Reporting
(Topic 280): Improvements to Reportable Segment Disclosures," to enhance disclosures for significant segment expenses for all public
entities required to report segment information in accordance with ASC 280. The standard did not change the definition of a segment, the
method for determining segments or the criteria for aggregating operating segments into reportable segments. The amendments are effective
for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Retrospective
adoption is required for all prior periods presented in the financial statements. The adoption is not expected to have a material impact
to our financial statements or disclosures.

In December 2023, the FASB issued AS