Company: BIAF
Filing Date: 2025-06-27
Form Type: POS AM
Source: 0001641172-25-016927
Chunk: 180

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-27
Form: POS AM
Chunk 180
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 at cost, which approximates market value, because of the short maturity of these
instruments.

Concentration of Risk

The Company has significant cash balances
at financial institutions which throughout the year regularly exceed the federally insured limit of $250,000.
Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition,
results of operations, and cash flow.

Advertising Expense

The Company expenses all advertising
costs as incurred. Advertising expense was $28,206
and $11,920 for the three months ended
March 31, 2025 and 2024, respectively.

Loss Per Share

Basic loss per share is computed by
dividing net loss attributable to common stockholders by the weighted-average number of shares of the Company’s Common Stock outstanding
during the period. Diluted loss per share is computed by dividing net loss attributable to common stockholders by the sum of the weighted-average
number of shares of Common Stock outstanding during the period and the weighted-average number of dilutive Common Stock equivalents outstanding
during the period, using the treasury stock method. Dilutive Common Stock equivalents are comprised of in-the-money stock options, convertible
notes payable, unvested restricted stock, and warrants based on the average stock price for each period using the treasury stock method.

| F-7 |

The
following potentially dilutive securities have been excluded from the computations of weighted average shares of Common Stock outstanding
as of March 31, 2025 and 2024, respectively, as they would be anti-dilutive:

SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES

|                                             |     |            2025 |            |     | 2024 |           |
|                                             |     | As of March 31, |            |     |      |           |
|                                             |     |            2025 |            |     | 2024 |           |
| Shares underlying options outstanding       |     |                 |    304,125 |     |      |   618,847 |
| Shares underlying warrants outstanding      |     |                 | 12,873,602 |     |      | 8,838,717 |
| Shares underlying unvested restricted stock |     |                 |    430,474 |     |      |   297,862 |
| Anti-dilutive securities                    |     |                 | 13,608,201 |     |      | 9,755,426 |

Revenue