Company: BIAF
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023405
Chunk: 13

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 13
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For
the purpose of the statement of cash flows, the Company considers all highly liquid investments with original maturities of three months
or less at the time of purchase to be cash equivalents. Cash equivalents are stated at cost, which approximates market value, because
of the short maturity of these instruments.

Concentration
of Risk

The
Company has significant cash balances at financial institutions which throughout the year regularly exceed the federally insured limit
of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial
condition, results of operations, and cash flow.

Advertising
Expense

The
Company expenses all advertising costs as incurred. Advertising expense was $273,087 and $232,396 for the nine months ended September
30, 2025 and 2024, respectively, and $101,265 and $101,271 for the three months ended September 30, 2025 and 2024, respectively.

Loss
Per Share

Basic
loss per share is computed by dividing net loss attributable to common stockholders by the weighted-average number of shares of the Company’s
Common Stock outstanding during the period. Diluted loss per share is computed by dividing net loss attributable to common stockholders
by the sum of the weighted-average number of shares of Common Stock outstanding during the period and the weighted-average number of
dilutive Common Stock equivalents outstanding during the period, using the treasury stock method. Dilutive Common Stock equivalents are
comprised of in-the-money stock options, convertible notes payable, unvested restricted stock, and warrants based on the average stock
price for each period using the treasury stock method.

    10

The
following potentially dilutive securities have been excluded from the computations of weighted-average shares of Common Stock outstanding
as of September 30, 2025 and 2024, as they would be anti-dilutive:

SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES

    2025  
    2024 

    As of September 30, 

    2025  
    2024 
  
    Shares underlying options outstanding 
     9,055  
     11,243 
  
    Shares underlying convertible preferred stock 
     101,448  
     — 
  
    Shares underlying warrants outstanding 
     1,348,292  
     283,575 
  
    Shares underlying unvested restricted stock