Company: BIAF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024163
Chunk: 8

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 8
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) 
     (3,878,400)

    Cash flows from investing activities 

    Purchase of property and equipment 
     (64,213) 
     (69,672)
  
    Net cash used in investing activities 
     (64,213) 
     (69,672)

    Cash flows from financing activities 

    Proceeds from issuance of Common Stock from direct offering, net of underwriting discounts, commissions, and offering expenses of $112,922 in 2025 and $495,000 in 2024 
     2,798,354  
     2,005,000 
  
    Proceeds from exercised stock options 
     —  
     74,899 
  
    Proceeds from exercise of warrants, net of underwriting discounts, commissions, and offering expenses of $243,145 
     1,558,576  
     147 
  
    Payment on loans payable 
     (112,951) 
     — 
  
    Proceeds from loans payable 
     —  
     26,872 
  
    Principal repayments on finance leases 
     (193,241) 
     (179,105)
  
    Net cash provided by financing activities 
     4,050,738  
     1,927,813 

    Net decrease in cash and cash equivalents 
     (302,456) 
     (2,020,259)
  
    Cash and cash equivalents at beginning of period 
     1,105,291  
     2,821,570 
  
    Cash and cash equivalents at end of period 
    $802,835  
    $801,311 

    Supplemental disclosures of cash flow information: 

    Interest expense paid in cash 
    $2,567  
    $45,799 
  
    Income taxes paid in cash 
     37,679  
     9,091 

The
accompanying notes are an integral part of these condensed consolidated financial statements.

8

bioAffinity
Technologies, Inc.

Notes
to Condensed Consolidated Financial Statements

(unaudited)

Note
1. NATURE OF OPERATIONS, ORGANIZATION, AND BASIS OF PRESENTATION

Description
of Business

bioAffinity
Technologies, Inc., a Delaware corporation (the “Company,” or “bioAffinity Technologies”), addresses the need
for noninvasive