Company: BIVIW
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001520138-25-000144
Chunk: 31

Company: BIOVIE INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 office lease at 5090
Shoreham Place Suite 212, San Diego, CA 92122 commenced in February 2024. The current monthly base rate for the office space is $9,685,
with an annual increase of four percent. The term for the office lease is 60 months.

Total operating lease expense for the three months
ended March 31, 2025 and 2024 was approximately $32,000 and $20,000, respectively, and for the nine months ended March 31, 2025 and 2024
was approximately $95,000 and $46,000, respectively, which is included in the accompanying condensed statements of operations and comprehensive
loss as a component of selling, general and administrative expenses.

     18 

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 

    March 31, 2025  
    June 30, 2024 
  
    Assets 

    Operating lease right-of-use asset, net 
    $357,278  
    $406,726 

    Liabilities 

    Current portion of operating lease liability 
    $70,713  
    $60,343 
  
    Operating lease liability, net of current portion 
     295,717  
     349,894 
  
    Total operating lease liability 
    $366,430  
    $410,237 

At March 31, 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