Company: BIAF
Filing Date: 2025-06-27
Form Type: POS AM
Source: 0001641172-25-016927
Chunk: 183

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-27
Form: POS AM
Chunk 183
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) and customer relationships (14
years). Intangible assets, net of accumulated amortization, are summarized as follows as of March 31, 2025 and December 31, 2024:

SCHEDULE OF INTANGIBLE ASSETS

| Cost                       |     | March 31, 
 2025      |           |   |     | December 31, 
 2024         |           |   |
|:---------------------------|:----|:----------|----------:|:--|:----|:-------------|----------:|:--|
| Goodwill                   |     | $         | 1,404,486 |   |     | $            | 1,404,486 |   |
| Trade names and trademarks |     |           |   150,000 |   |     |              |   150,000 |   |
| Customer relationships     |     |           |   700,000 |   |     |              |   700,000 |   |
| Cost                       |     |           | 2,254,486 |   |     |              | 2,254,486 |   |
| Accumulated amortization   |     |           |           |   |     |              |           |   |
| Trade names and trademarks |     |           |   (12,777 | ) |     |              |   (10,694 | ) |
| Customer relationships     |     |           |   (76,667 | ) |     |              |   (64,167 | ) |
| Accumulated amortization   |     |           |   (89,444 | ) |     |              |   (74,861 | ) |
| Intangible assets, net     |     | $         | 2,165,042 |   |     | $            | 2,179,625 |   |

The Company incurred amortization
of intangible assets of $14,583
for each of the three months ended March 31, 2025 and 2024.

Recent Accounting Pronouncements

The Company continues to monitor new
accounting pronouncements issued by the Financial Accounting Standards Board (“FASB”) and does not believe new accounting
pronouncements issued through the date of this Quarterly Report will have a material impact on the Company’s condensed consolidated
financial statements.

Segment Information

The Company is organized in two
operating segments, Diagnostic Research and Development (“R&D”) and Laboratory Services, whereby its chief operating