Company: BIAF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001840
Chunk: 932

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9
Chunk 932
---
930 

    Weighted-average
    remaining lease term: 
    2024  
    2023 
  
    Operating leases (in years) 
     4.21  
     3.58 
  
    Finance leases (in years) 
     2.39  
     3.25 

    Weighted-average
    discount rate: 
    2024  
    2023 
  
    Operating leases 
     7.41% 
     8.07%
  
    Finance leases 
     8.03% 
     8.01%

SCHEDULE OF FUTURE MINIMUM LEASE PAYMENT UNDER NON-CANCELLABLE 

    Operating
    Leases  
    Finance
                                            Leases 
  
    2025 
    $157,837  
    $448,505 
  
    2026 
     159,282  
     270,395 
  
    2027 
     110,063  
     202,970 
  
    2028 
     40,616  
     — 
  
    2029 
     42,252  
     — 
  
    2030 and thereafter 
     28,919  
     — 
  
    Total undiscounted cash flows 
     538,969  
     921,870 
  
    Less discounting 
     (69,373) 
     (82,121)
  
    Present value of lease
    liabilities 
    $469,596  
    $839,749 

    F-13

Note
10. NOTES PAYABLE

Toyota
Corolla - 2024

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 rate of 5.99% per annum, with monthly payments of $467, which is comprised of principal
and interest. This loan is collateralized by the underlying vehicle. The balance of this loan as of December 31, 2024, and 2023 was $24,849 and $0, respectively. The current portion of the balance of this loan as of December 31, 2024, and 2023
was $5,603 and $0, respectively.