Company: BIAF
Filing Date: 2025-06-27
Form Type: POS AM
Source: 0001641172-25-016923
Chunk: 175

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-27
Form: POS AM
Chunk 175
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--|---------------:|:----|:--|------------------:|
| Compensation           |     | $ |        932,208 |     | $ |         1,079,839 |
| Legal and professional |     |   |        107,064 |     |   |            98,477 |
| Clinical               |     |   |        287,258 |     |   |           160,371 |
| Other                  |     |   |         44,205 |     |   |            60,035 |
| Total accrued expenses |     | $ |      1,370,735 |     | $ |         1,398,722 |

Note 7. UNEARNED REVENUE

The Company engaged in an observational
study of CyPath Lung with the U.S. Department of Defense (“DOD”). A total of 70 CyPath
Lung units were ordered and shipped. However, in compliance with FASB ASC 606, the performance obligation was complete for only 40 units
as of March 31, 2025. The performance obligation is deemed complete after samples have been collected, processed, and analyzed and results
communicated to patients. The unearned revenue balance amounted to $24,404
as of March 31, 2025, and December 31, 2024.

Note 8. FAIR VALUE MEASUREMENTS

The Company analyzes all financial
instruments with features of both liabilities and equity under the FASB accounting standard for such instruments. Under this standard,
financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair
value measurement.

The three levels of the hierarchy and the related inputs
are as follows:

| Level |     | Inputs                                                                            |
| 1     |     | Unadjusted quoted prices                                                          
 in active markets for identical assets and liabilities;                           |
|       |     | Unadjusted quoted prices                                                          
 in active markets for similar assets and liabilities.                             |
| 2     |     | Unadjusted quoted prices                                                          
 for identical or similar assets or liabilities in markets that are not active; or |
|       |     | inputs other than quoted                                                          
 prices that are observable for the asset or liability.                            |
| 3     |     | Unobservable inputs for                                                           
 the asset or liability.                                                           |

The estimated fair value of certain
financial instruments, including cash and cash equivalents, accounts and other rece