Company: BIAF
Filing Date: 2025-06-27
Form Type: POS AM
Source: 0001641172-25-016927
Chunk: 101

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-27
Form: POS AM
Chunk 101
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 revenue and raise capital from financing transactions. There can be no assurance that we will be successful in accomplishing these objectives.

We continue to seek sources of financing to fund our continued operations and research and development programs. To raise additional capital, we may sell additional equity or debt securities, or enter into collaborative, strategic, and/or licensing transactions. There can be no assurance that we will be able to complete any financing transaction in a timely manner or on acceptable terms or otherwise enter into a collaborative or strategic transaction. If we are not able to raise additional cash, we may be forced to delay, curtail, or cease development of our diagnostic tests or therapeutic products, or cease operations altogether.

Summary Statements of Cash Flows

The following information reflects cash flows for the periods presented:

|                                                  |     | Three Months Ended 
 March 31,          |       2025 |   |     |   |       2024 |   |
|:-------------------------------------------------|:----|:-------------------|-----------:|:--|:----|:--|-----------:|:--|
| Cash and cash equivalents at beginning of period |     | $                  |  1,105,291 |   |     | $ |  2,821,570 |   |
| Net cash used in operating activities            |     |                    | (1,641,775 | ) |     |   | (2,345,975 | ) |
| Net cash used in investing activities            |     |                    |    (50,786 | ) |     |   |    (41,387 | ) |
| Net cash provided by financing activities        |     |                    |  1,031,976 |   |     |   |  2,018,957 |   |
| Cash and cash equivalents at end of period       |     | $                  |    444,706 |   |     | $ |  2,453,165 |   |

| 59 |

Net Cash Used in Operating Activities

Net cash used in operating activities was approximately $1.6 million and $2.3 million for the three months ended March 31, 2025 and 2024, respectively. The decrease of approximately $0.7 million in cash used by operations during the three months ended March 31, 2025, compared to the same period in 2024 was primarily attributable to an increase of approximately $660,000 in our loss from operations, a decrease in patient accounts receivables of