Company: BIAF
Filing Date: 2025-04-15
Form Type: DRS
Source: 0001641172-25-004915
Chunk: 193

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-04-15
Form: DRS
Chunk 193
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, 2023, are related party income and, therefore, eliminated from consolidated net revenues.

SCHEDULE OF REVENUE RECOGNITION

|                                             |     | Year Ended   
 December 31, |      2024 |     |   |      2023 |
|:--------------------------------------------|:----|:-------------|----------:|:----|:--|----------:|
| Patient service                             
 fees1                                       |     | $            | 8,175,670 |     | $ | 2,199,558 |
| Histology service fees                      |     |              | 1,103,751 |     |   |   272,660 |
| Medical director fees                       |     |              |    66,576 |     |   |    19,324 |
| Department of Defense observational studies |     |              |     8,654 |     |   |    19,442 |
| Other revenues                              |     |              |     7,371 |     |   |    21,515 |
| Total                                       
 net revenue                                 |     | $            | 9,362,022 |     | $ | 2,532,499 |

| 1 | Patient                                                                                                                   
 services fees include direct billing for CyPath® Lung diagnostic test of approximately $516,000 and $35,000 for the years 
 ended December 31, 2024 and 2023.                                                                                         |

Reclassifications

Certain prior year balances have been reclassified to conform to current year presentation. Any reclassifications had an immaterial effect on the Company’s consolidated financial statements and had no effect on prior periods net income or stockholders’ equity.

Property and Equipment, Net

In accordance with ASC 360-10, Accounting for the Impairment of Long-Lived Assets (“ASC 360” ), the Company periodically reviews the carrying value of its long-lived assets, such as property, equipment, and definite lived intangible assets, to test whether current events or circumstances indicate that such carrying value may not be recoverable. When evaluating assets for potential impairment, the Company compares the carrying value of the asset to its estimated undiscounted future cash flows. If an asset’s carrying value exceeds such estimated cash flows (undiscounted and with interest charges), the Company records an impairment charge for the difference. The Company did not record any impairment for the years ended December 31, 2024 or 2023.

Property and equipment are carried at cost