Company: BIAF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024163
Chunk: 75

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 7
Chunk 75
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and Amortization

Depreciation
and amortization expenses totaled approximately $268,000 and $300,00 for the six months ended June 30, 2025 and 2024, respectively. The
decrease of approximately $33,000, or 11%, for the six months ended June 30, 2025, compared to the same period in 2024 was primarily
attributable to the termination of a financing lease in April 2025 due to the Company’s targeted strategic actions announced in
March 2025.

    Six Months Ended  
    Change in 2025 

    June 30,  
    Versus 2024 

    2025  
    2024  
    $  
    % 
  
    Interest (expense) income, net 
    $(23,378) 
    $(34,486) 
    $11,108  
     (32)%
  
    Other income (expense), net 
     (454,630) 
     4,511  
     (459,141) 
     (10,178)%
  
    Gain (loss) on remeasurement of warrant liabilities 
     (1,062,818) 
     —  
     (1,062,818) 
     —%
  
    Total other (expense) income 
    $(1,540,826) 
    $(29,975) 
    $(1,510,851) 
     5,040%

Other
Income (Expense)

Total
other income (expense), net totaled ($1.5 million) and approximately $(30,000) for the six months ended June 30, 2025 and 2024, respectively.
The increase in the total other expenses of approximately $1.5 million is mostly attributable the remeasurement of warrant liability
and offering costs related to the May public offering.

Liquidity,
Capital Resources, and Going Concern

To
date, we have funded our operations primarily through our IPO, exercise of stock options and warrants, and the sale of our securities,
resulting in gross proceeds of approximately $46.0 million. We have evaluated whether there are conditions and events that raise substantial
doubt about our ability to continue as a going concern for at least one year after the date the condensed consolidated financial statements
are issued.

We
have incurred losses since our inception in 2014 as a result