Company: BIAF
Filing Date: 2025-06-27
Form Type: POS AM
Source: 0001641172-25-016927
Chunk: 189

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-27
Form: POS AM
Chunk 189
---
 lengths.

Leases with an initial term of 12
months or less are not recorded on the balance sheets. There are no material residual guarantees associated with any of the Company’s
leases, and there are no significant restrictions or covenants included in the Company’s lease agreements. Certain leases include
variable payments related to common area maintenance and property taxes, which are billed by the landlord, as is customary with these
types of charges for office space. The Company has not entered into any lease arrangements with related parties, and the Company is not
the sublessor in any arrangement.

The Company’s existing leases
contain escalation clauses and renewal options. The Company has evaluated several factors in assessing whether there is reasonable certainty
that the Company will exercise a contractual renewal option. For leases with renewal options that are reasonably certain to be exercised,
the Company included the renewal term in the total lease term used in calculating the right-of-use asset and lease liability.

| F-11 |

The
components of lease expense, which are included in selling, general and administrative expense and depreciation and amortization for
the three months ended March 31, 2025 and 2024, are as follows:

SCHEDULE OF COMPONENTS OF LEASE EXPENSE

|                                                                         | Components of lease expense: |   |    2025 |     |   |    2024 |
|:------------------------------------------------------------------------|:-----------------------------|:--|--------:|:----|:--|--------:|
| Amortization of right-of-use assets - finance lease                     |                              | $ |  96,243 |     | $ |  96,243 |
| Interest on lease liabilities - finance lease                           |                              |   |  13,081 |     |   |  23,550 |
| Operating lease cost                                                    |                              |   |  29,793 |     |   |  29,915 |
| Total lease cost                                                        |                              | $ | 139,117 |     | $ | 149,708 |
| Cash paid for amounts included in the measurement of lease liabilities: |                              |   |         |     |   |         |
| Operating cash flows from finance leases                                |                              | $ | 100,266 |     | $ |  88,665 |
| Operating cash flows from operating leases                              |                              |   |  29,197 |     |   |  30,431 |

SCHEDULE OF BALANCE SHEET INFORMATION RELATING TO LEASES