Company: BIAF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001840
Chunk: 921

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9
Chunk 921
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 such funds could have a significant adverse impact on the Company’s financial
condition, results of operations, and cash flows.

Advertising
Expense

The
Company expenses all advertising costs as incurred. Advertising expenses were approximately $267,201 and $88,832 for the years ended
December 31, 2024 and 2023, respectively.

    F-8

Loss
Per Share

Basic
loss per share is computed by dividing net loss attributable to common stockholders by the weighted-average number of shares of the Company’s
Common Stock, par value $0.007 per share outstanding during the period. Diluted loss per share is computed by dividing net loss attributable
to common stockholders by the sum of the weighted-average number of shares of Common Stock outstanding during the period and the weighted-average
number of dilutive Common Stock equivalents outstanding during the period, using the treasury stock method. Dilutive Common Stock equivalents
are comprised of in-the-money stock options, convertible notes payable, and warrants based on the average stock price for each period
using the treasury stock method.

The
following potentially dilutive securities have been excluded from the computations of weighted average shares of Common Stock outstanding
as of December 31, 2024 and 2023, as they would be anti-dilutive:

SCHEDULE
OF POTENTIALLY DILUTIVE SECURITIES

    As
    of December 31, 

    2024  
    2023 
  
    Shares underlying options outstanding 
     304,125  
     683,695 
  
    Shares underlying warrants outstanding 
     12,298,124  
     — 
  
    Shares underlying unvested
    restricted stock outstanding 
     349,057  
     4,649,952 
  
    Anti-dilutive
    securities 
     12,951,306  
     5,333,647 

Revenue
Recognition

To
determine revenue recognition for the arrangements that the Company determines are within the scope of ASC 606, Revenue from Contracts
with Customers, the Company performs the following five steps: (1) identify the contract(s) with a customer, (2) identify the performance
obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in
the contract, and (5) recognize revenue when (or as) the entity satisfies a performance obligation.

Post-acquisition
of P