Company: BIAF
Filing Date: 2025-06-27
Form Type: POS AM
Source: 0001641172-25-016927
Chunk: 182

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-27
Form: POS AM
Chunk 182
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,406,391 |

| 1 | Patient                                                                                                                                                                       
 services fees include direct billing for CyPath® Lung diagnostic test of approximately $169,000 and $45,000 for the three months ended March 31, 2025 and 2024, respectively. |

Property and Equipment

In accordance with ASC 360-10, Accounting for the Impairment of Long-Lived Assets, the Company periodically reviews the carrying value of its long-lived assets, such as property,
equipment, and definite-lived intangible assets, to test whether current events or circumstances indicate that such carrying value may
not be recoverable. When evaluating assets for potential impairment, the Company compares the carrying value of the asset to its estimated
undiscounted future cash flows. If an asset’s carrying value exceeds such estimated cash flows (undiscounted and with interest
charges), the Company records an impairment charge for the difference. The Company did not record any impairment for the three months
ended March 31, 2025, or for the fiscal year ended December 31, 2024.

Property
and equipment are carried at cost, net of accumulated depreciation. Depreciation is computed using the straight-line method over the
estimated useful life of the asset. Amortization of leasehold improvements is computed using the shorter of the lease term or estimated
useful life of the asset. Additions and improvements are capitalized, while repairs and maintenance are expensed as incurred. Useful
lives of each asset class are as follows:

SCHEDULE OF PROPERTY AND EQUIPMENT USEFUL LIFE

| Asset Category         |     | Useful Life                  |
| Computer equipment     |     | 3-5                          
 years                        |
| Computer software      |     | 3                            
 years                        |
| Equipment              |     | 3-5                          
 years                        |
| Furniture and fixtures |     | 5-7                          
 years                        |
| Vehicles               |     | 5                            
 years                        |
| Leasehold improvements |     | Lesser                       
 of lease term or useful life |

| F-8 |

Intangible Assets

The Company’s acquisition of
PPLS on September 18, 2023, identified goodwill and intangible assets. Goodwill represents the purchase price in excess of fair values
assigned to the underlying identifiable net assets of the acquired business. The Company tests goodwill for impairment annually, therefore,
does not record amortization. The intangible assets and their respective useful lives are as follows: trade names and trademarks (18
years