Company: BIVIW
Filing Date: 2025-08-04
Form Type: S-1/A
Source: 0001520138-25-000235
Chunk: 205

Company: BIOVIE INC.
Filing Date: 2025-08-04
Form: S-1/A
Chunk 205
---
,718 |   |

Amortization expense was $57,344 in each of the three-month
periods ended March 31, 2025 and 2024. Amortization expense was $172,033 in each of the nine-month periods ended March 31, 2025 and 2024.
The Company amortizes intellectual property over the expected original useful lives of 10 years.

Estimated future amortization expense is as follows:

| Schedule of future amortization expense        |     |   |         |
|:-----------------------------------------------|:----|:--|--------:|
| Year ending June 30, 2025 (Remaining 3 months) |     | $ |  57,344 |
| 2026                                           |     |   | 178,341 |
|                                                |     | $ | 235,685 |

| 5. | Related Party Transactions |

Equity Transactions with Acuitas

On July 15, 2022, the Company entered into a securities
purchase agreement with Acuitas Group Holdings, LLC (“Acuitas”), the Company’s largest stockholder, pursuant to which
Acuitas agreed to purchase from the Company, in a private placement, (i) an aggregate of 363,636 shares of the Company’s Common
Stock, at a price of $16.50 per share (the “PIPE Shares”), and (ii) a warrant to purchase 727,273 shares of Common Stock (“PIPE
Warrant Shares”), at an exercise price of $18.20, with a term of exercise of five years. The down round feature reduced the exercise
price of the PIPE Warrant Shares to $10.00 per share on March 6, 2024, $1.53 per share on September 25, 2024 and again to $1.37 on October
22, 2024 in connection with the offerings further described in Note 8, as the Company sold stock at a price lower than its initial exercise
price.

F-34

For the three months ended September 30, 2024, the
Company calculated the difference in fair value of the PIPE Warrant Shares between the stated exercise price and the reduced exercise
price and recorded $325,041 as a deemed dividend in the accompanying condensed statement of changes in stockholders’ equity. The
fair value of the PIPE Warrant Shares were estimated using the Black Scholes Method with the following inputs, the stock price of $1.20,
exercise