Company: BIVIW
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001520138-25-000144
Chunk: 108

Company: BIOVIE INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 2
Chunk 108
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 split, we would be issued a delisting determination, and if our Common Stock
were delisted from Nasdaq, it would adversely affect the liquidity of our Common Stock and the market price of our Common Stock could
decrease.

Our Common Stock is currently listed on Nasdaq. Nasdaq has minimum
requirements that a company maintain a minimum closing bid price of $1.00 per share. If a company fails to maintain Nasdaq’s minimum
bid price requirement for a period of 30 consecutive business days, Nasdaq will deem the company noncompliant.  In January 2025,
the SEC approved amendments to Nasdaq’s minimum bid price compliance rules designed to limit reliance on reverse stock splits.
The amendments provide that if a company fails to meet the bid price requirement and the company has effected a reverse stock split over
the prior one-year period, the company would not be eligible for any compliance period to address the bid price deficiency.
Instead, Nasdaq will move forward with delisting proceedings. We previously effected a reverse stock split on August 6, 2024. If we fail
to meet the minimum bid price requirement prior to the one-year anniversary of our prior reverse stock split, or August 6, 2025, we would
not be granted a compliance period and would be issued a delisting determination.

Since we have a recent history of our Common Stock trading below $1.00,
we are currently considering available options to ensure continued compliance with Nasdaq’s minimum bid price requirement, including
taking steps to effect a reverse stock split. There is no guarantee that any corrective measures we take would help us maintain compliance
with the minimum bid price requirement or other Nasdaq listing rules. If our Common Stock were to be delisted, the liquidity of our Common
Stock would be adversely affected and the market price of our Common Stock could decrease. Our failure to be listed on Nasdaq or another
national securities exchange would have a material adverse effect on the value of your investment in us.

 31 

Item 2. Unregistered sales of equity securities

None

Item 3. Defaults Upon Senior Securities

None

Item 4. Mine Safety Disclosures

None

Item 5. Other Information

None

 32 

Item 6. Exhibits

(a) Exhibit index

Exhibit

    31.1*
     
    Certification of Chief Executive Officer (Principal Executive Officer) required by Rule 13a-14(a) or Rule