Company: BIAF
Filing Date: 2025-04-11
Form Type: S-1
Source: 0001641172-25-003892
Chunk: 195

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-04-11
Form: S-1
Chunk 195
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       | 448,505 |   |
| 2026                          |     |           | 159,282 |   |     |         | 270,395 |   |
| 2027                          |     |           | 110,063 |   |     |         | 202,970 |   |
| 2028                          |     |           |  40,616 |   |     |         |       — |   |
| 2029                          |     |           |  42,252 |   |     |         |       — |   |
| 2030 and thereafter           |     |           |  28,919 |   |     |         |       — |   |
| Total undiscounted cash flows |     |           | 538,969 |   |     |         | 921,870 |   |
| Less discounting              |     |           | (69,373 | ) |     |         | (82,121 | ) |
| Present value of lease        
 liabilities                   |     | $         | 469,596 |   |     | $       | 839,749 |   |

| F-13 |

Note 10. NOTES PAYABLE

Toyota Corolla - 2024

On March 18, 2024, the Company entered into a finance agreement to purchase a 2024 Toyota Corolla for $ 33,620with a maturity date of February 18, 2030. The loan bears fixed interest at a rate of 5.99% per annum, with monthly payments of $ 467, which is comprised of principal and interest. This loan is collateralized by the underlying vehicle. The balance of this loan as of December 31, 2024, and 2023 was $ 24,849and $ 0, respectively. The current portion of the balance of this loan as of December 31, 2024, and 2023 was $ 5,603and $ 0, respectively.

Directors and Officers Insurance Policy – 2024

In September 2024, the Company obtained short-term financing of approximately $ 0.26million with 11 monthly payments of approximately $ 24,000and interest at a 6.7% fixed annual rate for director and officer insurance policies. The current portion of the balance of this loan as of December 31, 2024, and December 31, 2023, was $ 167,000and