Company: BIAF
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023405
Chunk: 29

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 29
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    $2,517,843  
     39,415  
     4,692 
  
    Granted 
     8,598  
     24.89  
     214,003  
     5,628  
     2,113 
  
    Forfeited 
     (856) 
     24.30  
     (20,800) 
     —  
     — 
  
    Balance at September 30, 2025 
     51,849  
    $52.28  
    $2,711,046  
     45,043  
     6,805 

During
the nine months ended September 30, 2025, the Company issued restricted stock awards (“RSAs”) for 8,598 shares of Common
Stock to employees, non-employees, and the board of directors. The shares vest in equal monthly installments over terms of immediately
and up to three years, subject to the employees and non-employees providing continuous service through the vesting date. During the nine
months ended September 30, 2025, 5,628 shares vested from RSAs granted in 2025, and 6,788 shares vested from RSA’s granted prior to 2025.

    17

Note
14. WARRANTS

The
Company’s outstanding Common Stock warrants are equity classified. As of September 30, 2025, and December 31, 2024, the
Company had 1,348,292
and 409,937
warrants outstanding to purchase one share of the Company’s Common Stock for each warrant at a weighted average price of
$28.44.
These warrants expire at various dates through August 2030. During the nine months ended September 30, 2025, a total number of 835,303
warrants were exercised into an equivalent number of shares of Common Stock as compared to 35,558
being exercised during the nine months ended September 30, 2024. During the third quarter of 2025, a total of 63,907 warrants were
forfeited through a cashless exercise. The proceeds of the exercised warrants for the nine months ended September 30, 2025, were
approximately $4.8
million, compared to proceeds of $1.3
million during the nine months ended September 30, 2024.