Company: BIAF
Filing Date: 2025-06-27
Form Type: POS AM
Source: 0001641172-25-016923
Chunk: 170

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-27
Form: POS AM
Chunk 170
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, 2025, or for the fiscal year ended December 31, 2024.

Property
and equipment are carried at cost, net of accumulated depreciation. Depreciation is computed using the straight-line method over the
estimated useful life of the asset. Amortization of leasehold improvements is computed using the shorter of the lease term or estimated
useful life of the asset. Additions and improvements are capitalized, while repairs and maintenance are expensed as incurred. Useful
lives of each asset class are as follows:

SCHEDULE OF PROPERTY AND EQUIPMENT USEFUL LIFE

| Asset Category         |     | Useful Life                  |
| Computer equipment     |     | 3-5                          
 years                        |
| Computer software      |     | 3                            
 years                        |
| Equipment              |     | 3-5                          
 years                        |
| Furniture and fixtures |     | 5-7                          
 years                        |
| Vehicles               |     | 5                            
 years                        |
| Leasehold improvements |     | Lesser                       
 of lease term or useful life |

| F-8 |

Intangible Assets

The Company’s acquisition of
PPLS on September 18, 2023, identified goodwill and intangible assets. Goodwill represents the purchase price in excess of fair values
assigned to the underlying identifiable net assets of the acquired business. The Company tests goodwill for impairment annually, therefore,
does not record amortization. The intangible assets and their respective useful lives are as follows: trade names and trademarks (18
years) and customer relationships (14
years). Intangible assets, net of accumulated amortization, are summarized as follows as of March 31, 2025 and December 31, 2024:

SCHEDULE OF INTANGIBLE ASSETS

| Cost                       |     | March 31, 
 2025      |           |   |     | December 31, 
 2024         |           |   |
|:---------------------------|:----|:----------|----------:|:--|:----|:-------------|----------:|:--|
| Goodwill                   |     | $         | 1,404,486 |   |     | $            | 1,404,486 |   |
| Trade names and trademarks |     |           |   150,000 |   |     |              |   150,000 |   |
| Customer relationships     |     |           |   700,000 |   |     |              |   700