Company: BIAF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001840
Chunk: 339

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1B
Chunk 339
---
    cash used in investing activities 
     (79,083) 
     (2,209,399)

    Cash flows from financing
    activities 

    Proceeds from issuance
    of common stock from direct offering, net of underwriting discounts, commissions, and offering expenses of $1,334,811 
     4,350,885  
     — 
  
    Proceeds from exercised
    stock options 
     74,899  
     — 
  
    Proceeds from exercise
    of warrants 
     1,371,147  
     — 
  
    Payment on loans payable 
     —  
     (251,746)
  
    Proceeds from loans
    payable 
     191,849  
     — 
  
    Principal
    repayments on finance leases 
     (361,181) 
     (93,238)
  
    Net cash provided by (used in) by financing activities 
     5,627,599  
     (344,984)

    Net decrease in cash and cash equivalents 
     (1,716,279) 
     (8,592,189)

    Cash and cash equivalents
    at beginning of year 
     2,821,570  
     11,413,759 

    Cash
    and cash equivalents at end of year 
    $1,105,291  
    $2,821,570 

    Supplemental disclosures
    of cash flow information: 

    Income taxes paid in
    cash 
    $11,650  
    $20,993 
  
    Interest paid 
     17,610  
     37,125 
  
    Noncash investing activities: 

    Stock issuance in connection
    with the acquisition 
    $—  
    $1,000,000 
  
    Noncash financing activities: 

    Fair value of warrants
    issued to placement agents 
    $74,281  
     — 

The
accompanying notes are an integral part of these consolidated financial statements.

F-6

bioAffinity
Technologies, Inc.

Notes
to Consolidated Financial Statements

For
the Years Ended December 31, 2024 and 2023

Note
1. BASIS OF PRESENTATION, ORGANIZATION AND NATURE OF OPERATIONS

Description
of Business

bioAffinity Technologies