Company: BIAF
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010787
Chunk: 46

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 46
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 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.

    10

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