Company: BIVIW
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001520138-25-000144
Chunk: 73

Company: BIOVIE INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 73
---
, 2025, the future estimated minimum lease payments under non-cancelable
operating leases are as follows:

    Schedule of future estimated minimum lease payments under non-cancelable operating leases

    Year ending June 30, 2025 (Remaining 3 months) 
    $30,072 
  
    2026 
     122,042 
  
    2027 
     126,313 
  
    2028 
     130,734 
  
    2029 
     77,796 
  
    Total minimum lease payments 
     486,957 
  
    Less amount representing interest 
     (120,527)
  
    Present value of future minimum lease payments 
     366,430 
  
    Less current portion of operating lease liability 
     (70,713)
  
    Operating lease liability, net of current portion 
    $295,717 

Total cash paid for amounts included in the measurement of lease liabilities
were approximately $88,000 and $49,000 for the nine months ended March 31, 2025 and 2024, respectively.

The weighted average remaining lease term and discount
rate as of March 31, 2025 and June 30, 2024 were as follows:

    Schedule of weighted average remaining lease term and discount rate 

    March 31, 2025  
    June 30, 2024 

    Weighted average remaining lease term (Years) 

    Operating lease 
     3.8  
     4.6 
  
    Weighted average discount rate 

    Operating lease 
     15.00% 
     15.00%

     19 

    10.
    Commitments and Contingencies

Royalty Agreements

Pursuant to the Agreement and Plan of Merger entered
into on April 11, 2016, by and between our predecessor entities, LAT Pharma and NanoAntibiotics, Inc., the Company is obligated to pay
a low single digit royalty on net sales of BIV201 (continuous infusion terlipressin) to be shared by the members of LAT Pharma Members,
PharmaIn Corporation, and The Barrett Edge, Inc.

Pursuant to the Technology Transfer Agreement entered
into on July 25, 2016, by and between the Company and the University of Padova (Italy), the Company is obligated to pay a low single digit
royalty on net sales of