Company: BIVIW
Filing Date: 2025-07-22
Form Type: S-1/A
Source: 0001520138-25-000216
Chunk: 159

Company: BIOVIE INC.
Filing Date: 2025-07-22
Form: S-1/A
Chunk 159
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  23,843,798 |   |     | $             |  19,460,883 |   |
| SUPPLEMENTAL CASH FLOW INFORMATION:                                                                          |     |               |             |   |     |               |             |   |
| Cash paid for interest                                                                                       |     | $             |   1,525,056 |   |     | $             |   2,106,491 |   |
| SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING ACTIVITIES:                                                     |     |               |             |   |     |               |             |   |
| Right-of-use assets obtained in exchange for lease obligations                                               |     | $             |     432,192 |   |     | $             |           - |   |
| Unrealized gain on U.S. Treasury Bills (available-for-sale)                                                  |     | $             |           - |   |     | $             |     176,591 |   |
| Reclassification of unrealized gains on U.S. Treasury Bills (available-for-sale investments) upon settlement |     | $             |     176,591 |   |     | $             |           - |   |
| Deemed dividend of ratchet adjustment to warrants                                                            |     | $             |     886,423 |   |     | $             |           - |   |

<div align='center'>The accompanying notes are an integral part of the financial statements.

F-7

BioVie Inc.

Notes to Financial Statements</div>

| 1. | Background Information |

BioVie Inc. (the “Company” or “we”
or “our”) is a clinical-stage company developing innovative drug therapies to treat chronic debilitating conditions including
neurological and neuro-degenerative disorders and liver disease.

The Company acquired the biopharmaceutical assets
of NeurMedix, Inc. (“NeurMedix”) a privately held clinical-stage pharmaceutical company and a related party in June 2021. The
acquired assets included NE3107. NE3107 is an investigational, novel, orally administered small molecule that is thought to inhibit inflammation-driven
insulin resistance and major pathological inflammatory cascades with a novel mechanism of action. There is emerging scientific consensus
that both inflammation and insulin resistance may play fundamental roles in the development of Alzheimer’s disease (“AD”)
and Parkinson’s disease (“PD”), and NE3107 could, if approved by the U.S. Food and Drug