Company: BIAF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001840
Chunk: 237

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 237
---
 to foster research by assisting technology-based businesses and entrepreneurs. Pursuant to the terms
of a license agreement, UTSA grants us a license for the temporary use of approximately 1,250 square feet of laboratory and office space
in room SRL 1.424 inside the Science Research Laboratories on UTSA’s campus. In exchange, we pay a licensing fee of $5,300 per
month. The license agreement has a one-year term that we can extend by requesting a term extension from UTSA. Since 2016, UTSA has granted
each of our annual requests for a license extension.

PPLS
leases a premises in San Antonio, Texas, used in connection with operation of the CAP-accredited, CLIA-certified clinical pathology laboratory.
The rent is currently $10,144 per month, and the term of the lease expires in October 2027.

We
rent additional corporate office space located near the PPLS lease. The rent is currently $2,970 per month, and the term of the lease
expires in August 2030.

Management
believes that the combination of our rented and licensed office and laboratory spaces are adequate to meet our current needs and expected
level of operations. We do not own any real property.

Item
3. Legal Proceedings.

We
are not currently a party to any current or pending material legal proceedings. From time to time, however, the Company may be involved
in various disputes and litigation matters that arise in the ordinary course of business. The Company may face claims brought by third
parties, or, from time to time, the Company may make claims or take legal actions to assert our rights. Regardless of the outcome, any
such claims or legal proceedings could adversely impact our business, reputation, operating results, and financial condition because
of defense and settlement costs, diversion of resources, and other factors. Results of actual and potential litigation are inherently
uncertain, and there can be no assurances that favorable outcomes will be obtained.

Item
4. Mine Safety Disclosures.

Not
applicable.

 53 

PART
II

Item
5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.

Market
Information

Our
Common Stock, par value $0.007 per share (the “Common Stock”) trades under the symbol “BIAF.” Our tradeable warrants,
each to purchase one share of Common Stock (collectively, the “Tradeable Warrants”), trade