Company: BIAF
Filing Date: 2025-04-11
Form Type: S-1
Source: 0001641172-25-003892
Chunk: 200

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-04-11
Form: S-1
Chunk 200
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                 |  1,600,000 |     |                  | 1.64 |     |                    | (1,066,667 | ) |     |                      |    533,333 |
| Placement agent direct offering March 8,  
 2024                                      |     |                 |     32,000 |     |                  | 1.64 |     |                    | —          |   |     |                      |     32,000 |
| Inducement/direct offering August 5, 2024 |     |                 |  1,752,082 |     |                  | 1.50 |     |                    | —          |   |     |                      |  1,752,082 |
| Placement agent direct offering August 5, 
 2024                                      |     |                 |     49,862 |     |                  | 1.50 |     |                    | —          |   |     |                      |     49,862 |
| Direct offering October 21, 2024          |     |                 |  2,662,782 |     |                  | 1.50 |     |                    | —          |   |     |                      |  2,662,782 |
| Placement agent direct                    
 offering October 21, 2024                 |     |                 |     61,448 |     |                  | 1.50 |     |                    | —          |   |     |                      |     61,448 |
| Balance at December                       
 31, 2024                                  |     |                 | 14,401,377 |     | $                | 2.95 |     |                    | (2,103,253 | ) |     |                      | 12,298,124 |

| F-15 |

Note 15. INCOME TAXES

Deferred tax assets and valuation allowance

The Company had, subject to limitation, approximately $ 31million of net operating loss carryforwards at December 31, 2024, of which approximately $ 0.67million will begin expiring in 2034. The remaining balance of approximately $ 30million will carry forward indefinitely. A 100% valuation allowance has been provided for the deferred tax benefits resulting from the net operating loss carryover due to a lack of earnings history. In addressing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will