Company: BIVIW
Filing Date: 2025-08-08
Form Type: 424B5
Source: 0001520138-25-000247
Chunk: 200

Company: BIOVIE INC.
Filing Date: 2025-08-08
Form: 424B5
Chunk 200
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 computed by dividing the net loss
attributable to common stockholders by the weighted average number of shares of the Company’s Class A common stock (“Common
Stock”) outstanding during the period. Diluted net loss per common share is computed by dividing the net loss attributable to Common
Stockholders by the weighted average number of shares of Common Stock outstanding and potentially outstanding shares of Common Stock during
the period to reflect the potential dilution that could occur from common shares issuable through stock options, warrants, and convertible
debentures. For the three and nine months ending March 31, 2025 and 2024, such amounts were excluded from the diluted loss since their
effect was considered anti-dilutive due to the net loss for the periods presented.

The table below shows the potential shares of Common Stock, presented
based on amounts outstanding at each period end, which were excluded from the computation of diluted net loss per share attributable to
common stockholders because including them would have had an anti-dilutive effect:

| Schedule of dilutive securities were excluded from the computation of diluted loss per share |     |                  | March 31, 2025 |     |                  | March 31, 2024 |
|:---------------------------------------------------------------------------------------------|:----|:-----------------|---------------:|:----|:-----------------|---------------:|
|                                                                                              |     | Number of Shares |                |     | Number of Shares |                |
| Stock Options                                                                                |     |                  |        887,129 |     |                  |        402,276 |
| Warrants                                                                                     |     |                  |      9,600,564 |     |                  |      1,932,029 |
| Restricted Stock Units                                                                       |     |                  |        109,039 |     |                  |         53,992 |
| Notes payable conversion option                                                              |     |                  |              - |     |                  |         71,633 |
| Total                                                                                        |     |                  |     10,596,732 |     |                  |      2,459,930 |

Reverse stock split

The company effected a 1:10 reverse split of the issued
and outstanding shares of its Common Stock which was approved by the board of directors after the approval obtained from shareholders
at a special meeting on July 29, 2024 which became effective on Nasdaq on August 6, 2024, 5 trading days after the shareholders’
approval was obtained. All historical share and earnings per