Company: BIAF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001840
Chunk: 730

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 6
Chunk 730
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 110,063  
     202,970 
  
    2028 
     40,616  
     — 
  
    2029 
     42,252  
     — 
  
    2030 and thereafter 
     28,919  
     — 
  
    Total undiscounted cash flows 
     538,969  
     921,870 
  
    Less discounting 
     (69,373) 
     (82,121)
  
    Present value of lease
    liabilities 
    $469,596  
    $839,749 

    F-13

Note
10. NOTES PAYABLE

Toyota
Corolla - 2024

On
March 18, 2024, the Company entered into a finance agreement to purchase a 2024 Toyota Corolla for $33,620 with a maturity date of February
18, 2030. The loan bears fixed interest at a 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 December 31, 2024, and 2023 was $24,849 and $0, respectively. The current portion of the balance of this loan as of December 31, 2024, and 2023
was $5,603 and $0, respectively.

Directors
and Officers Insurance Policy – 2024

In
September 2024, the Company obtained short-term financing of approximately $0.26 million 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 December 31, 2024, and December 31, 2023, was $167,000 and $0, 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

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