Company: BIVIW
Filing Date: 2025-07-11
Form Type: S-1/A
Source: 0001520138-25-000205
Chunk: 168

Company: BIOVIE INC.
Filing Date: 2025-07-11
Form: S-1/A
Chunk 168
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 separately vesting portion (tranche) as a separate award
and recognizes compensation cost for each tranche over its separate vesting schedule. Expected volatilities are based on historical volatility
of peer companies and other factors estimated over the expected term of the stock options. For employee and non-employee awards, the expected
term of options granted is derived using the “simplified method” which computes expected term as the average of the sum of
the vesting term plus the contract term. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for
the period of the expected term. The Company recognizes forfeitures as they occur.

Goodwill

Goodwill is recorded when the purchase price paid
for an acquisition exceeds the fair value of the net identified tangible and intangible assets acquired. The Company performs an annual
impairment test of goodwill and further periodic tests to the extent indicators of impairment develop between annual impairment tests.
The Company’s impairment review process compares the fair value of the reporting unit to its carrying value, including the goodwill
related to the reporting unit. To determine the fair value of the reporting unit, the Company may use various approaches including an
asset or cost approach, market approach or income approach or any combination thereof. These approaches may require the Company to make
certain estimates and assumptions including future cash flows, revenue and expenses. These estimates and assumptions are reviewed each
time the Company tests goodwill for impairment and are typically developed as part of the Company’s routine business planning and
forecasting process. While the Company believes its estimates and assumptions are reasonable, variations from those estimates could produce
materially different results. The Company did not recognize any goodwill impairments for the years ended June 30, 2024 and 2023.

F-12

| 3. | Significant Accounting Policies (continued) |

Impairment of Long-Lived Assets

Long-lived assets, including intangible assets, are
reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.
Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted
future cash flows expected to be generated by the asset.

If the carrying amount of an asset exceeds its undiscounted
estimated future cash flows, an impairment review is performed. An impairment charge is recognized in the amount by which the carrying
amount of the asset exceeds the fair value of the asset