Company: BIAF
Filing Date: 2025-06-27
Form Type: POS AM
Source: 0001641172-25-016923
Chunk: 185

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-27
Form: POS AM
Chunk 185
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 the calculated aggregate fair values for the warrant derivative liability using the Black-Scholes method based
on the following assumptions for the Offering:

SUMMARY OF AGGREGATE FAIR VALUES FOR THE WARRANT DERIVATIVE LIABILITY

| Exercise price per share of warrant                 |     | $ | 0.85 |   |
| Fair market closing price per share of Common Stock |     | $ | 0.58 |   |
| Volatility                                          |     |   |   83 | % |
| Expected term (years)                               |     |   |    5 |   |
| Risk-free interest rate                             |     |   | 4.12 | % |
| Dividend yield                                      |     |   |    0 | % |

The fair value of the New Warrants
using the assumptions above was $601,752
for the warrants, $104,153
for the change in fair value related to the change in exercise price, and $31,422
for the placement agent warrants. The fair value of the above warrants was recorded in Additional paid-in capital.

As of March 31, 2025, there were tradeable
warrants to purchase up to an aggregate of 1,601,259
shares of Common Stock outstanding and non-tradeable warrants to purchase an aggregate of up to 3,269,791
shares of Common Stock outstanding.

SCHEDULE OF CLASS OF WARRANT

|                                                      |     | Number of       
 warrants issued |            |     | Weighted-      
 average        
 exercise price |      |     | Number of          
 warrants exercised |            |   |     | Number of            
 warrants outstanding |            |
|:-----------------------------------------------------|:----|:----------------|-----------:|:----|:---------------|-----:|:----|:-------------------|:-----------|:--|:----|:---------------------|-----------:|
| Pre-IPO convertible notes                            |     |                 |  2,900,904 |     | $              | 5.31 |     |                    | —          |   |     |                      |  2,900,904 |
| IPO tradeable                                        |     |                 |  2,326,835 |     |                | 3.06 |     |                    | (725,580   | ) |     |                      |  1,601,255 |
| IPO non-tradeable                                    |     |                 |  3,015,464 |     |                | 3