Company: BIAF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024163
Chunk: 23

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 23
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) 
     0.88  
     2.39 

    Weighted-average discount rate: 
    June 30, 2025  
    December 31, 2024 
  
    Operating leases 
     7.36% 
     7.41%
  
    Finance leases 
     7.85% 
     8.03%

Future
minimum lease payments under non-cancellable lease as of June 30, 2025, are as follows:

SCHEDULE OF FUTURE MINIMUM LEASE PAYMENT UNDER NON-CANCELLABLE

    Operating
    Leases

    Finance
    Leases

    Remaining
    for 2025
     
    $
    79,156

    $
    122,767

    2026

    159,282

    67,425

    2027

    110,063

    —

    2028

    40,616

    —

    2029

    42,252

    —

    2030
    and thereafter

    28,919

    —

    Total
    undiscounted cash flows

    460,288

    190,192

    Less
    discounting

    (52,975
    )

    (6,406
    )
  
    Present
    value of lease liabilities
     
    $
    407,313

    $
    183,786

    15

Note
10. NOTES PAYABLE

Vehicles
Notes Payable

On
January 10, 2025, the Company entered into a second Finance Agreement to purchase a 2024 Toyota Corolla for $33,517 with a maturity date
of January 18, 2031. The loan bears fixed interest at a rate of 11.65% per annum, with monthly payments of $651, which is comprised of
principal and interest. This loan is collateralized by the underlying vehicle. The balance of this loan as of June 30, 2025, was $31,876.
The current portion of the balance of this loan as of June 30, 2025 was $4,330.

On
March 18, 2024, the Company entered into a Finance Agreement to purchase a 2024 Toyota Corolla for $33,620 with a maturity date of February
18, 2030. The loan bears fixed interest at a