Company: BIVIW
Filing Date: 2025-07-11
Form Type: S-1/A
Source: 0001520138-25-000205
Chunk: 196

Company: BIOVIE INC.
Filing Date: 2025-07-11
Form: S-1/A
Chunk 196
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 |     - |     |            |           - |   |     |                | -       |   |     |                | -   |   |     |               |        - |   |     |             | (2,788,418   | ) |     |               |  (2,788,418 | ) |
| Balance, March 31, 2025                                                                |     |              | 18,545,735 |     | $            | 7,463 |     | $          | 370,465,616 |   |     |                | (28,359 | ) |     | $              | (29 | ) |     | $             |        - |   |     | $           | (348,655,105 | ) |     | $             |  21,817,945 |   |

<div align='center'>See accompanying notes to unaudited condensed financial
statements

F-28

BioVie Inc.

Condensed Statements of Cash Flows

(Unaudited)</div>

|                                                                                                              |     | Nine Months Ended 
 March 31, 2025    |             |   |     | Nine Months Ended 
 March 31, 2024    |             |   |
|:-------------------------------------------------------------------------------------------------------------|:----|:------------------|------------:|:--|:----|:------------------|------------:|:--|
| CASH FLOWS FROM OPERATING ACTIVITIES:                                                                        |     |                   |             |   |     |                   |             |   |
| Net loss                                                                                                     |     | $                 | (14,052,979 | ) |     | $                 | (27,179,739 | ) |
| Adjustments to reconcile net loss to net cash used in operating activities:                                  |     |                   |             |   |     |                   |             |   |
| Amortization of intangible assets                                                                            |     |                   |     172,033 |   |     |                   |     172,033 |   |
| Stock based compensation - restricted stock units and restricted shares                                      |     |                   |     912,667 |   |     |                   |   1,020,383 |   |
| Stock based compensation expense - stock options                                                             |     |                   |     842,638 |   |     |                   |   2,118,649 |   |
| Stock based compensation expense - issuance of common stock for services rendered                            |     |