Company: BIAF
Filing Date: 2025-05-07
Form Type: 424B4
Source: 0001641172-25-008977
Chunk: 214

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-05-07
Form: 424B4
Chunk 214
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| Tax at federal statutory rate    |     |          | -21.00 | % |     |      | -21.00 | % |
| Permanent differences            |     |          |    0.1 | % |     |      |   0.03 | % |
| Research and development credits |     |          |   -0.8 | % |     |      |  -0.83 | % |
| Deferred balance true-up         |     |          |   0.00 | % |     |      | -16.07 | % |
| Change in valuation              
 allowance                        |     |          |   21.7 | % |     |      |  37.87 | % |
| Effective                        
 income tax rate                  |     |          |   0.00 | % |     |      |   0.00 | % |

Unrecognized tax benefits

As of December 31, 2024, and 2023, the Company has unrecognized tax benefits related to tax credits of $281,207 and $249,516, respectively. None of the unrecognized tax benefits as of December 31, 2024, if recognized, would impact the effective tax rate due to the valuation allowance, and no interest or penalties have been recognized. A reconciliation of the beginning and ending balance of unrecognized tax benefits is as follows:

SCHEDULE OF UNRECOGNIZED TAX BENEFITS

|                                           |     | December 
 31,      |    2024 |     |   |    2023 |
|:------------------------------------------|:----|:---------|--------:|:----|:--|--------:|
| Beginning balance                         |     | $        | 249,516 |     | $ | 190,228 |
| Deductions based on tax positions related 
 to the prior year                         |     |          |       — |     |   |  30,897 |
| Additions based on                        
 tax positions related to the current year |     |          |  31,691 |     |   |  28,391 |
| Ending balance                            |     | $        | 281,207 |     | $ | 249,516 |

Note 16. SUBSEQUENT EVENTS

On March 7, 2025, the Company announced targeted strategic actions to improve financial performance and accelerate the commercial growth of CyPath ®Lung, taking steps to deliver up to $3 to $4 million in annual