Company: BIAF
Filing Date: 2025-06-27
Form Type: POS AM
Source: 0001641172-25-016923
Chunk: 169

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-27
Form: POS AM
Chunk 169
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) or when services have been rendered.

The Company follows a standard process,
which considers historical denial and collection experience and other factors (including the period of time that the receivables have
been outstanding), to estimate contractual allowances and implicit price concessions, recording adjustments in the current period as
changes in estimates. The process for estimating revenues and the ultimate collection of accounts receivable involves significant judgment
and estimation.

SCHEDULE OF REVENUE RECOGNITION

|                                             |     | For the Three Months Ended 
 March 31,                  
 2025                       |      2025 |     | 2024 |      2024 |
|:--------------------------------------------|:----|:---------------------------|----------:|:----|:-----|----------:|
| Patient service fees1                       |     | $                          | 1,570,382 |     | $    | 2,149,049 |
| Histology service fees                      |     |                            |   263,754 |     |      |   237,972 |
| Medical director fees                       |     |                            |    16,588 |     |      |    16,058 |
| Department of Defense observational studies |     |                            |         — |     |      |     2,885 |
| Other revenues                              |     |                            |     2,873 |     |      |       427 |
| Total net revenue                           |     | $                          | 1,853,597 |     | $    | 2,406,391 |

| 1 | Patient                                                                                                                                                                       
 services fees include direct billing for CyPath® Lung diagnostic test of approximately $169,000 and $45,000 for the three months ended March 31, 2025 and 2024, respectively. |

Property and Equipment

In accordance with ASC 360-10, Accounting for the Impairment of Long-Lived Assets, the Company periodically reviews the carrying value of its long-lived assets, such as property,
equipment, and definite-lived intangible assets, to test whether current events or circumstances indicate that such carrying value may
not be recoverable. When evaluating assets for potential impairment, the Company compares the carrying value of the asset to its estimated
undiscounted future cash flows. If an asset’s carrying value exceeds such estimated cash flows (undiscounted and with interest
charges), the Company records an impairment charge for the difference. The Company did not record any impairment for the three months
ended March 31