Company: BIVIW
Filing Date: 2025-07-22
Form Type: S-1/A
Source: 0001520138-25-000216
Chunk: 199

Company: BIOVIE INC.
Filing Date: 2025-07-22
Form: S-1/A
Chunk 199
---
 Company’s ongoing development and commercialization efforts, as well as its ability to secure
additional financing as needed. Projected cash flows could be extended if further measures are taken to delay planned expenditures on
our research protocols and slow the progress in the Company’s development and launch of next phase clinical programs.

The future viability of the Company is largely dependent
upon its ability to raise additional capital to finance its operations. Management expects that future sources of funding may include
sales of equity, obtaining loans, or other strategic transactions.

Although management continues to pursue the Company’s
strategic plans, there is no assurance that the Company will be successful in obtaining sufficient financing on terms acceptable to the
Company, if at all, to fund continuing operations. These circumstances raise substantial doubt on the Company’s ability to continue
as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

| 3. | Significant Accounting Policies |

Basis of Presentation – Interim Financial Information

These unaudited interim condensed financial statements
and related notes have been prepared in accordance with accounting principles generally accepted in the United State of America (“U.S.
GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities
and Exchange Commission (the “SEC”) for Interim Reporting. Accordingly, they do not include all of the information and footnotes
required by U.S. GAAP for complete financial statements. The unaudited interim condensed financial statements furnished reflect all adjustments
(consisting of normal recurring accruals) that are, in the opinion of management, considered necessary for a fair presentation of the
results for the interim periods presented. Interim results are not necessarily indicative of the results for the full year. The condensed
balance sheet at June 30, 2024, was derived from audited annual financial statements but does not contain all the footnote disclosures
from the annual financial statements. These unaudited interim condensed financial statements should be read in conjunction with the Company’s
audited financial statements for the fiscal years ended June 30, 2024 and 2023 in our Annual Report on Form 10-K filed with the SEC on
September 30, 2024 (the “2024 Form 10-K”). A summary of significant accounting policies can also be found in those audited
financial statements in the 2024 Form 10-K.

Cash and cash equivalents

Cash and cash equivalents consisted of cash deposits