Company: BIVIW
Filing Date: 2025-08-04
Form Type: S-1/A
Source: 0001520138-25-000235
Chunk: 180

Company: BIOVIE INC.
Filing Date: 2025-08-04
Form: S-1/A
Chunk 180
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’s warrants”) to purchase 105,000 shares
of Common Stock exercisable at a per share price of $12.50, which was equal to 125% of the public offering price per share. The Placement
Agent’s Warrants are exercisable during a five-year period commencing 180 days from March 6, 2024. The Pre-Funded Warrants were
exercised shortly after issuance and the 600,000 shares of Common Stock were issued during the year ended June 30, 2024.

F-18

| 9. | Equity Transactions (continued) |

Issuance of common stock for services

On April 6, 2023, the Company awarded 5,000 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 $74.50 per share. The stock-based compensation expense related to this Common Stock issuance was $372,500.

On May 10, 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 $4.86 per share. The stock-based compensation expense related to this Common Stock issuance was $72,900.

Stock Options

The following table summarizes the activity relating to the Company’s
stock options for the years ended June 30, 2024 and 2023:

| 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, 2022                                                |     |         | 339,876 |   |     | $                               |  74.20 |     |                                             | 5.5 |     | $                         |         - |
| Granted                                                                     |     |         |  71,467 |   |     |                                 |  59.00 |     |                                             | 8.6 |     |                           |    38,610 |
| Options Expired                                                             |