Company: BIVIW
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001520138-25-000144
Chunk: 27

Company: BIOVIE INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 27
---
 a five-year period commencing 180 days from each of the respective closing dates of the October Offerings.

During the three months ended December 31, 2024, 1,896,300
of common warrants from the September 2024 Offering were exercised at $1.53 per share for proceeds totaling approximately $2.9 million,
and 335,000 September Pre-funded Warrants were also exercised. In addition, 6,667 September Placement Agent’s Warrants were exercised
on a cashless exercise basis and 4,214 common shares were issued.

Issuance of common stock for services:

On August 12, 2024, the Company awarded 15,000 shares
of Common Stock to a vendor as part of their fees in exchange for services. The fair value of the Common Stock at the date of issuance
was $2.23 per share. The stock-based compensation expense related to this Common Stock issuance was $33,450.

Stock Options

The following table summarizes the activity relating to the Company’s
stock options for the nine months ended March 31, 2025:

    Schedule of summarizes the activity relating to the Company’s stock options 

    Options  
    Weighted- Average Exercise Price  
    Weighted Remaining Average Contractual Term  
    Aggregate Intrinsic Value 
  
    Outstanding at June 30, 2024 
     518,076  
    $54.11  
     6.1  
    $- 
  
    Options Granted 
     490,261  
     2.40  
     7.1  
     - 
  
    Options Expired 
     (38,806) 
     62.48  
     -  
     - 
  
    Options Canceled 
     (82,402) 
     7.87  
     -  
     - 
  
    Outstanding at March 31, 2025 
     887,129  
    $29.46  
     6.2  
    $- 
  
    Exercisable at March 31, 2025 
     448,470  
    $44.50  
     5.1  
    $- 

The fair value of each option on the date of grant
is estimated using the Black-Scholes option pricing model. The pricing model reflects the following weighted-average assumptions for the