Company: BIVIW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001520138-25-000343
Chunk: 52

Company: BIOVIE INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 52
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    $- 

The table below shows the expiration of the warrants
outstanding as of June 30, 2025:

    Schedule of warrants outstanding 

    Number of Warrants 

    Expiring June 30, 

    2027 
     3,610 
  
    2028 
     72,728 
  
    2029 
     115,509 
  
    2030 
     767,891 
  
    2031 
     6,967,300 
  
    Total outstanding warrants 
     7,927,038 

The warrants table excluded 380,000 prefunded warrants with an exercise
price of $0.0001 and no expiration.  None of the prefunded warrants were exercised during the three months ended September 30, 2025.

8.Leases

Office Leases 

The Company pays an annual rent of $2,200 for
its headquarters at 680 W Nye Lane, Suite 201, Carson City Nevada 89703. The rental agreement was for a one-year term, commenced on October
1, 2022 and has been subsequently renewed at each annual maturity date at the same rate.

The Company’s San Diego office lease at
5090 Shoreham Place Suite 206, San Diego, CA 92122 resulted from an amendment to the lease which commenced on March 1, 2022, which allowed
the Company to vacate Suite 212 and move to the larger Suite 206 which commenced on February 12 2024. The current monthly base rate for
the new office space is $10,024, with an annual increase of four percent. The term for the new office lease is 60 months and commenced
on February 12, 2024.

Total operating lease expense for the three months
ended September 30, 2025 and 2024 of approximately $32,000 and $32,000, respectively, were included in the accompanying condensed statements
of operations as a component of general and administrative expenses.

    17

The right-of-use asset, net and current and non-current
portion of the operating lease liabilities included in the accompanying condensed balance sheets are as follows: 

    Schedule of deferred tax assets 

    September 30, 2025  
    June 30, 2025 
  
    Assets 

    Operating lease right-of-use asset, net 
    $321,400