bioAffinity Technologies, Inc. General form of registration statement for all companies including face-amount certificate companies

General form of registration statement for all companies including face-amount certificate companies

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET

9 Months Ended

12 Months Ended

Sep. 30, 2024

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

Note 5. PROPERTY AND EQUIPMENT, NET

Property and equipment are summarized below:

SCHEDULE OF PROPERTY AND EQUIPMENT

	September 30, 2024			December 31, 2023

Lab equipment	$	662,747		$	647,214
Computers and software		81,433			68,682
Leasehold improvements		19,353			9,941
Vehicles		148,103			105,919
Property and equipment, gross		911,636			831,756
Accumulated depreciation		(493,446	)		(373,123	)
Total property and equipment, net	$	418,190		$	458,633

Depreciation expense was $119,526 and $66,780 for the nine months ended September 30, 2024 and 2023, respectively, and $40,472 and $45,095 for the three months ended September 30, 2024 and 2023, respectively.

Note 5. PROPERTY AND EQUIPMENT, NET

Property and equipment at December 31, 2023 and 2022, are summarized below:

SCHEDULE OF PROPERTY AND EQUIPMENT

	2023			2022
	December 31,
	2023			2022

Lab equipment	$	647,214		$	462,155
Computers and software		68,682			21,463
Leasehold improvements		9,941			—
Vehicles		105,919			—
Property and equipment, gross		831,756			483,618
Less: accumulated depreciation and amortization		(373,123	)		(269,180	)
Total property and equipment, net	$	458,633		$	214,438

Total Property and equipment depreciation expense was $233,064 and $10,182 for the years ended December 31, 2023, and 2022, respectively.