Company: BIAF
Filing Date: 2025-05-02
Form Type: S-1
Source: 0001641172-25-008170
Chunk: 196

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-05-02
Form: S-1
Chunk 196
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                                        |     |             | — |     |        | — |     |        |          — |     |        |       — |     |            |          — |   |     |             | (9,039,831  | ) |     |               | (9,039,831 | ) |
| Balance at December 31, 2024                    |     |             | — |     |        | — |     |        | 15,227,619 |     | $      | 106,593 |     | $          | 56,139,753 |   |     | $           | (53,644,310 | ) |     | $             |  2,602,036 |   |
| Balance                                         |     |             | — |     |        | — |     |        | 15,227,619 |     | $      | 106,593 |     | $          | 56,139,753 |   |     | $           | (53,644,310 | ) |     | $             |  2,602,036 |   |

<div align='center'>The accompanying notes are an integral part of these consolidated financial statements.</div>

| F-5 |

<div align='center'>bioAffinity Technologies, Inc.

Consolidated Statements of Cash Flows

For the Years Ended December 31, 2024 and 2023</div>

| Cash flows from operating                                                                                             
 activities                                                                                                            |     | 2024 |            |   |     | 2023 |            |   |
|:----------------------------------------------------------------------------------------------------------------------|:----|:-----|-----------:|:--|:----|:-----|-----------:|:--|
| Net loss                                                                                                              |     | $    | (9,039,831 | ) |     | $    | (7,937,011 | ) |
| Adjustments to reconcile                                                                                              
 net loss to net cash used in operating activities:                                                                    |     |      |            |   |     |      |            |   |
| Depreciation and amortization                                                                                         |     |      |    605,637 |   |     |      |    249,592 |   |
| Stock-based compensation                                                                                              
 expense                                                                                                               |     |      |    989,681 |   |     |      |    748,823 |   |
| Changes in operating                                                                                                  
 assets and liabilities:                                                                                               |     |      |