Company: BIAF
Filing Date: 2025-06-27
Form Type: POS AM
Source: 0001641172-25-016927
Chunk: 102

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-27
Form: POS AM
Chunk 102
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 approximately $487,000, offset by an increase in accounts payable and accrued expenses of approximately $863,000.

Net Cash Used in Investing Activities

We used approximately $51,000 for the three months ended March 31, 2025, in investing activities related primarily to the purchase of computer and laboratory equipment, compared to $41,000 used in investing activities for the three months ended March 31, 2024.

Net Cash Provided by Financing Activities

Cash provided by financing activities was approximately $1.0 million compared to cash provided by financing activities of approximately $2.0 million for the three months ended March 31, 2025 and 2024, respectively. The change is primarily attributable to the net proceeds from our financing in February 2025, in which we raised gross proceeds of approximately $1.4 million, compared to our March 2024 financing, in which we raised gross proceeds of $2.5 million.

The following information reflects cash flows for the years presented:

|                                                     |     |   Year Ended |            |   |     |      |            |   |
|:----------------------------------------------------|:----|-------------:|-----------:|:--|:----|-----:|-----------:|:--|
|                                                     |     | December 31, |            |   |     |      |            |   |
|                                                     |     |         2024 |            |   |     | 2023 |            |   |
| Cash and cash equivalents at beginning of year      |     |            $ |  2,821,570 |   |     |    $ | 11,413,749 |   |
| Net cash used in operating activities               |     |              | (7,264,795 | ) |     |      | (6,037,806 | ) |
| Net cash used in investing activities               |     |              |    (79,083 | ) |     |      | (2,209,399 | ) |
| Net cash provided by (used in) financing activities |     |              |  5,627,599 |   |     |      |   (344,984 | ) |
| Cash and cash equivalents at end of year            |     |            $ |  1,105,291 |   |     |    $ |  2,821,570 |   |

Net Cash Used in Operating Activities

Net cash used in operating activities was approximately $7.3 million and $6.