Company: BIAF
Filing Date: 2025-06-27
Form Type: POS AM
Source: 0001641172-25-016923
Chunk: 168

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-27
Form: POS AM
Chunk 168
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 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 Recognition

To determine revenue recognition for
the arrangements that the Company determines are within the scope of ASC 606, Revenue from Contracts with Customers, the Company
performs the following five steps: (1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract,
(3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize
revenue when (or as) the entity satisfies a performance obligation.

Post-acquisition of PPLS, additional
revenue streams have been consolidated starting September 19, 2023. PPLS generates three sources of revenue: (1) patient service fees,
(2) histology service fees, and (3) medical director fees. The Company recognizes as revenue the amount that reflects the consideration
to which it expects to be entitled in exchange for goods sold or services rendered primarily upon completion of the testing process (when
results are reported