Company: BIVIW
Filing Date: 2025-02-11
Form Type: 10-Q
Source: 0001520138-25-000056
Chunk: 8

Company: BIOVIE INC.
Filing Date: 2025-02-11
Form: 10-Q
Item: Part I, Item 2
Chunk 8
---
6,139,494  
     (6,095,370)
  
    PD Phase 2 
     -  
     485,033  
     (485,033)
  
    Investigator-Initiated studies 
     -  
     87,058  
     (87,058)
  
    Other studies in development/canceled 
     18,253  
     1,472,168  
     (1,453,915)

    $ 51,260  
    $ 8,700,759  
    $ (8,649,499)

 26 

Selling, General and Administrative Expenses

Selling, general and administrative expenses were approximately $4.6
million and $4.2 million for the six months ended December 31, 2024 and 2023, respectively. The net increase of approximately $409,000
was primarily attributed to the net increase in other consultancy fees of approximately $540,000, and other increases in audit and accounting
fees of approximately $61,000, legal fees of $376,000, insurance and office expense of approximately $30,000 and $21,000, respectively;
offset by declines in the executive team’s compensation totaling approximately $266,000, director compensation expense of approximately
$138,000, investor relations of approximately $139,000, conference & meetings and website development totaling approximately $36,000
and $29,000, respectively, and shareholders’ meetings and filing fees totaling approximately $12,000.

Other Income and Expense

Other income, net was approximately $150,000 compared to approximately
$545,000 for the six months ended December 31, 2024 and 2023, respectively. The net decrease in other income, net of approximately $395,000
is comprised of a change in fair value of the related derivative liabilities of approximately $1.7 million, and a reduction in interest
income of approximately $204,000. This was offset by a reduction in interest expense of approximately $1.5 million due to the notes payable
being paid in full on December 1, 2024.

 27 

Capital Resources and Liquidity

As of December 31, 2024, the Company had working capital
of approximately $23.2 million, cash and cash equivalents totaling approximately $24.4 million, stockholders’ equity of approximately
$23.9 million,