Company: BIVIW
Filing Date: 2025-08-04
Form Type: S-1/A
Source: 0001520138-25-000235
Chunk: 160

Company: BIOVIE INC.
Filing Date: 2025-08-04
Form: S-1/A
Chunk 160
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 |   |     |               |  18,641,716 |   |
| Cash and cash equivalents, end of period                                                                     |     | $             |  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