Company: BIVIW
Filing Date: 2025-07-11
Form Type: S-1/A
Source: 0001520138-25-000205
Chunk: 167

Company: BIOVIE INC.
Filing Date: 2025-07-11
Form: S-1/A
Chunk 167
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of shares of Common Stock outstanding and potentially outstanding shares of Common Stock during the period to reflect the potential dilution
that could occur from common shares issuable through stock options, warrants, and convertible debentures. For the years ended June 30,
2024 and 2023, such amounts were excluded from the diluted loss since their effect was considered anti-dilutive due to the net loss for
the periods presented.

The table below shows the potential shares of common stock, presented based on amounts outstanding
at each year end, that were excluded from the computation of diluted net loss per share attributable to common stockholders because including
them would have had an anti-dilutive effect:

| Schedule of dilutive securities were excluded from the computation of diluted loss per share |     |                  | June 30, 2024 |     |                  | June 30, 2023 |
|:---------------------------------------------------------------------------------------------|:----|:-----------------|--------------:|:----|:-----------------|--------------:|
|                                                                                              |     | Number of Shares |               |     | Number of Shares |               |
| Stock Options                                                                                |     |                  |       518,076 |     |                  |       395,286 |
| Warrants                                                                                     |     |                  |     1,932,029 |     |                  |       777,029 |
| Restricted Stock Units                                                                       |     |                  |        40,291 |     |                  |        59,646 |
| Notes payable conversion option                                                              |     |                  |        71,633 |     |                  |        71,633 |
| Total                                                                                        |     |                  |     2,562,029 |     |                  |     1,303,594 |

Stock-based Compensation

The Company has accounted for stock-based compensation
under the provisions of Accounting Standards Codification (“ASC”) Topic 718 – “Stock Compensation” (“ASC
718”) which requires the use of the fair-value based method to determine compensation for all arrangements under which employees
and others receive shares of stock or equity instruments (stock options and Common Stock purchase warrants). For employees and non-employees
awards, the fair value of each stock option award is estimated on the date of grant using the Black-Scholes valuation model that uses
assumptions for expected volatility, expected dividends, expected term, and the risk-free interest rate. For non-employees, the Company
utilizes the graded vesting attribution method under which the entity treats each