Company: BIVIW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001520138-25-000343
Chunk: 53

Company: BIOVIE INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 53
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    $339,653 

    Liabilities 

    Current portion of operating lease liability 
    $78,357  
    $74,464 
  
    Operating lease liability, net of current portion 
     254,373  
     275,430 
  
    Total operating lease liability 
    $332,730  
    $349,894 

At September 30, 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, 2026 (Remaining 9 months) 
    $91,971 
  
    2027 
     126,313 
  
    2028 
     130,734 
  
    2029 
     77,796 
  
    Total minimum lease payments 
     426,814 
  
    Less amount representing interest 
     (94,084)
  
    Present value of future minimum lease payments 
    $332,730 

Total cash paid for amounts included in the measurement of lease liabilities
were $30,072 and $29,055 for the three months ended September 30, 2025 and 2024, respectively.

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

    Schedule of weighted average remaining lease term and discount rate 

    September 30, 2025  
    June 30, 2025 

    Weighted average remaining lease term (Years) 

    Operating lease 
     3.3  
     3.6 
  
    Weighted average discount rate 

    Operating lease 
     15.00% 
     15.00%

    18

9.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