Company: BIAF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001840
Chunk: 1292

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 14
Chunk 1292
---
    $1,139,204  
    $811,674 

Note
4. PREPAID EXPENSES AND OTHER CURRENT ASSETS

Prepaid
expenses and other current assets at December 31, 2024 and 2023, are summarized below:

SCHEDULE
OF PREPAID EXPENSES AND OTHER CURRENT ASSETS

    December
    31, 

    2024  
    2023 

    Prepaid insurance 
    $248,364  
    $171,855 
  
    Legal and professional 
     27,448  
     24,476 
  
    Other 
     147,183  
     124,686 
  
    Total
    prepaid expenses and other current assets 
    $422,995  
    $321,017 

Note
5. PROPERTY AND EQUIPMENT, NET

Property
and equipment at December 31, 2024 and 2023, are summarized below:

SCHEDULE OF PROPERTY AND EQUIPMENT

    December
    31, 

    2024  
    2023 

    Lab equipment 
    $662,747  
    $647,214 
  
    Computers and software 
     81,433  
     68,682 
  
    Leasehold improvements 
     19,353  
     9,941 
  
    Vehicles 
     148,103  
     105,919 
  
    Property
    and equipment, gross 
     911,636  
     831,756 
  
    Less: accumulated depreciation
    and amortization 
     (536,251) 
     (373,123)
  
    Total
    property and equipment, net 
    $375,385  
    $458,633 

Total
property and equipment depreciation and amortization expense was $162,332 and $233,064 for the years ended December 31, 2024 and 2023,
respectively.

Note
6. ACCRUED EXPENSES

Accrued
expenses at December 31, 2024 and 2023, are summarized below:

SCHEDULE OF ACCRUED EXPENSES

    December
    31, 

    2024  
    2023 

    Compensation 
    $1,079,839  
    $857,037 
  
    Legal and professional 
     98