Company: BIAF
Filing Date: 2025-04-22
Form Type: 424B3
Source: 0001641172-25-005598
Chunk: 97

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-04-22
Form: 424B3
Chunk 97
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|                                |     |         2024 |         |   |     | 2023 |         |   |     | $              |         |   |     | % |      |    |
| Interest (expense) income, net |     |            $ | (74,865 | ) |     |    $ |  85,006 |   |     | $              | 159,871 |   |     |   | (188 | )% |
| Other income (expense), net    |     |              |     129 |   |     |      | (27,796 | ) |     |                | (27,925 | ) |     |   | (100 | )% |
| Total other (expense) income   |     |            $ | (74,736 | ) |     |    $ |  57,210 |   |     | $              | 131,946 |   |     |   |  231 | %  |

Other net income (expense) totaled $129 and $(27,796)
for the years ended December 31, 2024 and 2023, respectively, an increase of approximately $28,000, or 100%. The net other expense for
the year ended December 31, 2023 related to the loss on the disposal of an asset and other non-operating costs. The net other income for
the year ended December 31, 2024 related to approximately a $9,000 gain on a sale of an asset and offset by property taxes.

Interest income (expense)

We had net interest (expense) income of approximately
$(74,865) and $85,006 for the years ended December 31, 2024 and 2023, respectively. The prior year amount related to approximately $120,000
interest earned from money market account partially offset by interest paid in financing lease for laboratory equipment. The current year
amount related to approximately $18,000 interest earned from money market account offset by interest paid in financing lease for laboratory
equipment.

Liquidity and Capital Resources

To date, we have funded our operations primarily through
our IPO, exercise of warrants, and the sale of our equity and debt securities, resulting in gross proceeds of approximately $42.7 million.
We have evaluated whether there are conditions and events that raise substantial doubt about our ability to continue as