Company: BIAF
Filing Date: 2025-06-27
Form Type: POS AM
Source: 0001641172-25-016927
Chunk: 187

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-27
Form: POS AM
Chunk 187
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103 |   |
| Property and equipment, gross                   |     |   |        962,421 |   |     |   |           911,636 |   |
| Less: accumulated depreciation and amortization |     |   |       (580,012 | ) |     |   |          (536,251 | ) |
| Total property and equipment, net               |     | $ |        382,409 |   |     | $ |           375,385 |   |

Depreciation expense was $43,763
and $38,811 for the three months ended March
31, 2025 and 2024, respectively.

Note 6. ACCRUED EXPENSES

Accrued
expenses are summarized below:

SCHEDULE OF ACCRUED EXPENSES

|                        |     |   | March 31, 2025 |     |   | December 31, 2024 |
|:-----------------------|:----|:--|---------------:|:----|:--|------------------:|
| Compensation           |     | $ |        932,208 |     | $ |         1,079,839 |
| Legal and professional |     |   |        107,064 |     |   |            98,477 |
| Clinical               |     |   |        287,258 |     |   |           160,371 |
| Other                  |     |   |         44,205 |     |   |            60,035 |
| Total accrued expenses |     | $ |      1,370,735 |     | $ |         1,398,722 |

Note 7. UNEARNED REVENUE

The Company engaged in an observational
study of CyPath Lung with the U.S. Department of Defense (“DOD”). A total of 70 CyPath
Lung units were ordered and shipped. However, in compliance with FASB ASC 606, the performance obligation was complete for only 40 units
as of March 31, 2025. The performance obligation is deemed complete after samples have been collected, processed, and analyzed and results
communicated to patients. The unearned revenue balance amounted to $24,404
as of March 31, 2025, and December 31, 2024.

Note 8. FAIR VALUE MEASUREMENTS

The Company analyzes all financial
instruments with features of both liabilities and equity