Company: BIAF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001840
Chunk: 445

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 445
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-term growth rate assumptions and the discount rate. Significant changes in our estimates and assumptions
could affect our fair value calculations. Our estimate of fair value exceeded the carrying amount and therefore resulted in no
impairment.

Going
Concern

Our
evaluation of our ability to continue as a going concern requires us to evaluate our future sources and uses of cash sufficient to fund
our currently expected operations in conducting research and development activities one year from the date our consolidated financial
statements are issued. We evaluate the probability associated with each source and use of cash resources in making our going concern
determination. The research and development of our diagnostic tests and therapeutic products are inherently subject to uncertainty.

Off-Balance
Sheet Arrangements

We
do not engage in transactions that generate relationships with unconsolidated entities or financial partnerships, such as entities often
referred to as structured finance or special purpose entities, as a part of our ongoing business. Accordingly, we did not have any off-balance
sheet arrangements during any of the periods presented.

Item
7A. Quantitative and Qualitative Disclosures About Market Risk.

We
are a smaller reporting company as defined by Item 10 of Regulation S-K and are not required to provide the information otherwise required
under this Item 7A.

Item
8. Financial Statements and Supplementary Data.

The
information required by this item is presented at the end of this Annual Report beginning on page F-1 and is incorporated herein by reference.
An index of those financial statements is found in Part IV, Item 15, Exhibit and Financial Statement Schedules, of this Annual Report.

Item
9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure.

None

 61 

Item
9A. Controls and Procedures.

Evaluation
of Disclosure Controls and Procedures

The
Company has adopted and maintains disclosure controls and procedures that are designed to provide reasonable assurance that information
required to be disclosed in the reports filed under the Exchange Act, such as this Annual Report, is collected, recorded, processed,
summarized, and reported within the time periods specified under the rules of the SEC. As of December 31, 2024, the end of the period
covered by this Annual Report, our Chief Executive Officer and Chief Financial Officer evaluated the effectiveness of our “disclosure
controls and procedures,” as defined in Rule 13a-15(e) under the Exchange Act\. The Chief Executive Officer and Chief Financial
Officer assessed the effectiveness of our disclosure controls and procedures