Company: BIVIW
Filing Date: 2025-07-22
Form Type: S-1/A
Source: 0001520138-25-000216
Chunk: 71

Company: BIOVIE INC.
Filing Date: 2025-07-22
Form: S-1/A
Chunk 71
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 or the Exchange Act for shares                                     
 of its common equity, had a public float of less than $250 million as of a date within 30 days of the date of the filing of the registration 
 statement, computed by multiplying the aggregate worldwide number of such shares held by non-affiliates before the registration plus,        
 in the case of a Securities Act registration statement, the number of such shares included in the registration statement by the estimated    
 public offering price of the shares; or                                                                                                      |

| · | In the case of an issuer who had annual revenue of less than $100 million during the most recently completed                                   
 fiscal year for which audit financial statements are available, had a public float as calculated under paragraph (1) or (2) of this definition 
 that was either zero or less than $700 million.                                                                                                |

As a “smaller reporting company” we
are not required and may not include a Compensation Discussion and Analysis section in our proxy statements; we provide only 3 years of
business development information; and have other “scaled” disclosure requirements that are less comprehensive than issuers
that are not “smaller reporting companies” which could make our stock less attractive to potential investors, which could
make it more difficult for you to sell your shares.

We are subject to the periodic reporting requirements of the Exchange Act, which require us to incur audit fees and legal fees in connection with the preparation of such reports. These additional costs will negatively affect our ability to earn a profit.

We are required to file periodic reports with
the SEC pursuant to the Exchange Act and the rules and regulations thereunder. In order to comply with such requirements, our independent
registered auditors have to review our financial statements on a quarterly basis and audit our financial statements on an annual basis.
Moreover, our legal counsel has to review and assist in the preparation of such reports. Factors such as the number and type of transactions
that we engage in and the complexity of our reports cannot accurately be determined at this time and may have a major negative effect
on the cost and amount of time to be spent by our auditors and attorneys. However, the incurrence of such costs is an expense to our operations
and thus has a negative effect on our ability to meet our overhead requirements and earn a profit.

Because we do not intend to pay any cash dividends on our Common Stock, our stockholders will not be able to receive a return on their shares unless they sell them.

We intend to retain any future earnings to finance
the development and expansion