Company: BIAF
Filing Date: 2025-06-27
Form Type: POS AM
Source: 0001641172-25-016923
Chunk: 203

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-27
Form: POS AM
Chunk 203
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,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-26 |

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