Company: BIAF
Filing Date: 2025-06-27
Form Type: POS AM
Source: 0001641172-25-016923
Chunk: 79

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-27
Form: POS AM
Chunk 79
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, general and administrative expenses consist primarily of expenditures related to employee compensation, legal, accounting and tax, other professional services, and general operating expenses.

Selling, general and administrative expenses totaled approximately $9.9 million and $6.8 million for the years ended December 31, 2024 and 2023, respectively. The increase of approximately $3.1 million, or 46% was primarily attributable to the laboratory operations of PPLS being owned for the full fiscal year 2024, compared to approximately 3.5 months in fiscal year 2023. Additionally, the increase was due to the expansion of sales efforts for CyPath ®Lung, partially offset by a reduction in legal and professional fees.

Other Income (Expense)

|                                |     |   Year Ended 
 December 31, |         |   |     |      |         |   |     | Change in 2024 
 Versus 2023    |         |   |     |   |      |    |
|:-------------------------------|:----|-------------:|--------:|:--|:----|-----:|--------:|:--|:----|:---------------|--------:|:--|:----|:--|-----:|:---|
|                                |     |         2024 |         |   |     | 2023 |         |   |     | $              |         |   |     | % |      |    |
| Interest (expense) income, net |     |            $ | (74,865 | ) |     |    $ |  85,006 |   |     | $              | 159,871 |   |     |   | (188 | )% |
| Other income (expense), net    |     |              |     129 |   |     |      | (27,796 | ) |     |                | (27,925 | ) |     |   | (100 | )% |
| Total other (expense) income   |     |            $ | (74,736 | ) |     |    $ |  57,210 |   |     | $              | 131,946 |   |     |   |  231 | %  |

Other net income (expense) totaled $129 and $(27,796) for the years ended December 31, 2024 and 2023, respectively, an increase of approximately $28,000, or 100%. The net