Company: BIAF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024163
Chunk: 15

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 15
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 700,000  
     700,000 
  
    Cost 
     2,254,486  
     2,254,486 
  
    Accumulated amortization 

    Trade names and trademarks 
     (14,861) 
     (10,694)
  
    Customer relationships 
     (89,167) 
     (64,167)
  
    Accumulated amortization 
     (104,028) 
     (74,861)
  
    Intangible assets, net 
    $2,150,458  
    $2,179,625 

The
Company incurred amortization of intangible assets of $29,167 for each of the six months ended June 30, 2025 and 2024, and $14,583 for
each of the three months ended June 30, 2025 and 2024.

Recent
Accounting Pronouncements

In November 2024, the FASB issued ASU
2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation
of Income Statement Expenses (“ASU 2024-03”), which requires disclosure about the types of costs and expenses included in
certain expense captions presented on the income statement. The new disclosure requirements are effective for the Company’s annual
periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with early adoption permitted. The
Company is currently evaluating the impact of this pronouncement on its related disclosures.

Segment
Information

The
Company is organized into two operating segments, Diagnostic Research and Development (“R&D”) and Laboratory Services,
whereby its chief operating decision maker (“CODM”) assesses the performance of and allocates resources. The CODM is the
Chief Executive Officer. Diagnostic R&D includes research and development and clinical development on diagnostic tests and therapeutic
discoveries. Any revenues assigned to Diagnostic R&D are proceeds received from observational studies. Laboratory services include
all the operations from Village Oaks and PPLS in addition to sales and marketing costs of CyPath® Lung from bioAffinity
Technologies.

SCHEDULE OF SEGMENT INFORMATION

    2025  
    2024  
    2025  
    2024 

    Three months ended June 30,  
    Six months ended June 30,