Company: BIAF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024163
Chunk: 24

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 24
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 rate of 5.99% per annum, with monthly payments of $467, which is comprised of principal
and interest. This loan is collateralized by the underlying vehicle. The balance of this loan as of June 30, 2025, and December 31, 2024,
was $22,765 and $24,849, respectively. The current portion of the balance of this loan as of June 30, 2025, and December 31, 2024, was
$4,359 and $5,603, respectively.

Directors
and Officers Insurance Policy – 2024

In
September 2024, the Company obtained short-term financing of approximately $260,000 with 11 monthly payments of approximately $24,000
and interest at a 6.7% fixed annual rate for director and officer insurance policies. The current portion of the balance of this loan
as of June 30, 2025, and December 31, 2024, was $24,257 and $167,000, respectively.

Note
11. COMMITMENTS AND CONTINGENCIES

Legal
Matters

From
time to time, the Company is involved in various disputes and litigation matters that arise in the ordinary course of business. To date,
the Company has no material pending legal proceedings.

Note
12. COMMON STOCK

Common
Stock

The
Company has authorized a total of 100,000,000 shares of Common Stock, $0.007 par value per share. On June 4, 2024, the Company received
stockholder approval to increase the number of authorized shares of Common Stock from 25,000,000 shares to 100,000,000 shares, and on
June 5, 2024, the Company filed an amendment to its Certificate of Incorporation with the Secretary of State of the State of Delaware
to effect the increase. The Company has issued 28,459,541 shares of Common Stock, of which 282,940 are unvested restricted stock awards
as of June 30, 2025, and 15,576,674 shares of Common Stock, of which 349,057 are unvested restricted stock awards as of December 31,
2024.

On
May 7, 2025, the Company completed a public offering of securities for gross proceeds to the Company of $3.25 million, before deducting
placement agent fees and other estimated expenses payable by the Company.