![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Monday, May 11, 2015 5:31:21 PM
http://biz.yahoo.com/e/150511/nnab10-q.html
(table of contents)
We have incurred $178,523 of operating expenses for the nine months ended March 31, 2015. Prior to inception, the Company's compounds were composed and formulated by researchers at Kard, a preclinical contract research organization founded by our President Rajah Menon in 2002 and of which Mr. Menon is its principal shareholder, who then conducted in-vitro studies. On October 3, 2013, Kard and Mr. Menon assigned all of their rights, formulations, and all studies and data related to efflux pump antibiotics to the Company. We are now engaged in organizational activities and sourcing technology to license. We anticipate incurring other costs associated with equipment purchases and general and administrative expenses, including employee salaries and benefits, legal expenses, and other costs associated with an early stage, publicly-traded company.
The amounts that we actually spend for any specific purpose may vary significantly, and will depend on a number of factors including, but not limited to, the pace of progress of our research and development, market conditions, and our ability to qualify vendors. In addition, we may use a portion of any net proceeds to acquire complementary compounds. We will have significant discretion in the use of any net proceeds. Investors will be relying on the judgment of our management regarding the application of the proceeds of any sale of our Common Stock.
Requirement for Additional Capital
The Company has engaged in limited research and development activities. We currently do not have sufficient funds to meet our planned drug development for the next twelve (12) months and we may not be able to obtain the necessary financing on terms and conditions acceptable to the Company. Assuming that we are successful in raising additional financing, we plan to incur the following expenses over the next twelve (12) months:
? Research and Development of $575,000, which includes planned costs for nano efflux pump inhibitor and nanoantibiotic of $75,000 and an additional $500,000 if we were to license certain nanotechnologies that we are presently reviewing. During the past quarter and presently all our research and development has been put on hold while we negotiate licensing rights with universities and inventors.
? Corporate overhead of $100,000, which includes budgeted legal, accounting and other costs expected to be incurred.
? Licensing and Capital costs of $100,000, which $75,000 is budgeted for acquiring a nanotechnology license, and $25,000 is the estimated cost for equipment to be deployed at vendor sites to be selected; and
? Officer and Staffing costs of $180,000.
The Company had approximately $278,535 of cash on hand at March 31, 2015 and will be unable to proceed with its planned drug development, meet its administrative expense requirements, capital costs, or staffing costs without obtaining additional net financing of approximately $600,000 to meet its budget.
The Company has limited experience with pharmaceutical drug development. As such these budget estimates may not be accurate. In addition, the actual work to be performed is not known at this time, other than a broad outline, as is normal with any scientific work. As further work is performed, additional work may become necessary or change in plans or workload may occur. Such changes may have an adverse impact on our estimated budget. Such changes may also have an adverse impact on our projected timeline of drug development.
Management intends to use capital and debt financing, as required, to fund the Company's operations. There can be no assurance that the Company will be able to obtain the additional capital resources necessary to fund its anticipated obligations for the next twelve (12) months.
All I say is IMHO and not to be construed as investment advice. I know nothing, as informed frequently by my wife.
Recent BIVI News
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 06/17/2024 09:05:11 PM
- Join BioVie’s Exclusive Live Investor Webinar and Q&A Session on June 26 • GlobeNewswire Inc. • 06/12/2024 12:24:05 PM
- Form PRE 14A - Other preliminary proxy statements • Edgar (US Regulatory) • 06/07/2024 09:05:11 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/14/2024 09:06:16 PM
- The Gross Law Firm Notifies Shareholders of BioVie Inc. (BIVI) of a Class Action Lawsuit and an Upcoming Deadline • PR Newswire (US) • 03/14/2024 09:45:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/11/2024 09:00:30 PM
- BioVie Inc. Class Action: The Gross Law Firm Reminds BioVie Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of March 19, 2024 - BIVI • PR Newswire (US) • 03/11/2024 09:45:00 AM
- Contact The Gross Law Firm by March 19, 2024 Deadline to Join Class Action Against BioVie Inc.(BIVI) • PR Newswire (US) • 03/07/2024 10:45:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/06/2024 10:10:37 PM
- Form 8-K/A - Current report: [Amend] • Edgar (US Regulatory) • 03/04/2024 10:28:48 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 03/04/2024 10:28:02 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/04/2024 12:50:52 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 03/01/2024 10:27:46 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/01/2024 02:40:39 PM
- The Gross Law Firm Notifies BioVie Inc. Investors of a Class Action Lawsuit and Upcoming Deadline - BIVI • PR Newswire (US) • 02/26/2024 10:45:00 AM
- The Gross Law Firm Reminds BioVie Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of March 19, 2024 - BIVI • PR Newswire (US) • 02/09/2024 10:45:00 AM
- The Gross Law Firm Notifies Shareholders of BioVie Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of March 19, 2024 - (NASDAQ: BIVI) • PR Newswire (US) • 02/02/2024 10:45:00 AM
- The Gross Law Firm Notifies Shareholders of BioVie Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of March 19, 2024 - (NASDAQ: BIVI) • PR Newswire (US) • 01/26/2024 10:45:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/25/2024 10:00:41 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/19/2024 10:15:31 PM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 01/19/2024 10:00:22 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/13/2023 10:15:16 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/06/2023 09:16:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/06/2023 09:15:25 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/29/2023 01:20:37 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM
North Bay Resources Announces Successful Flotation Cell Test at Bishop Gold Mill, Inyo County, California • NBRI • Jun 27, 2024 9:00 AM
Branded Legacy, Inc. and Hemp Emu Announce Strategic Partnership to Enhance CBD Product Manufacturing • BLEG • Jun 27, 2024 8:30 AM
POET Wins "Best Optical AI Solution" in 2024 AI Breakthrough Awards Program • POET • Jun 26, 2024 10:09 AM
HealthLynked Promotes Bill Crupi to Chief Operating Officer • HLYK • Jun 26, 2024 8:00 AM