Company: BIAF
Filing Date: 2025-05-02
Form Type: S-1
Source: 0001641172-25-008170
Chunk: 206

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-05-02
Form: S-1
Chunk 206
---
 will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income and the reversal of deferred tax liabilities during the period in which the related temporary difference becomes deductible. The Company includes interest and penalties related to uncertain tax positions as part of income tax expense, if any. Nosuch interest or penalties were recognized during the years ended December 31, 2024 and 2023, and the Company had noaccruals for interest and penalties at December 31, 2024 or 2023.

| F-10 |

Segment Information

The Company is organized in twooperating segments, Diagnostic Research and Development (“R&D”) and Laboratory Services, whereby its chief operating decision maker (“CODM”) uses operating income as the primary measure of segment profit or loss to assess performance and make resource allocation decisions, in addition to monitoring revenue growth and research and development progress. The CODM is the Chief Executive Officer.

Diagnostic R&D includes research and development and clinical development of diagnostic tests. Any revenues assigned to Diagnostic R&D are proceeds received from observational studies. Laboratory services include all the operations from Village Oaks and PPLS in addition to sales and marketing costs of CyPath® Lung from bioAffinity.

SCHEDULE OF SEGMENT INFORMATION

| Net revenues:                |     | As              
 of December 31, 
 2024            |            |   |     | 2023 |            |   |
|:-----------------------------|:----|:----------------|-----------:|:--|:----|:-----|-----------:|:--|
| Diagnostic                   
 R&D                          |     | $               |      8,654 |   |     | $    |     19,442 |   |
| Laboratory                   
 services                     |     |                 |  9,353,368 |   |     |      |  2,513,057 |   |
| Total                        
 net revenues                 |     |                 |  9,362,022 |   |     |      |  2,532,499 |   |
| Operating expenses:          |     |                 |            |   |     |      |            |   |
| Diagnostic R&D               |     |                 | (1,782,882 | ) |     |      | (1,724,597 | ) |
| Laboratory services          |     |                 | (9,946,452 | ) |     |      | (3,769,783 | ) |
| General                      
 corporate