2023 Q4 Form 10-Q Financial Statement

#000149315223040986 Filed on November 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q4
Revenue $2.213M $300.2K $2.350K
YoY Change 94085.53% 26007.48%
Cost Of Revenue $1.665M $74.70K $180.00
YoY Change 924822.22% 51067.12%
Gross Profit $548.5K $223.8K $2.170K
YoY Change 25176.5% 22166.67%
Gross Profit Margin 24.78% 74.53% 92.34%
Selling, General & Admin $2.214M $2.024M $1.429M
YoY Change 54.97% 239.31% 62.21%
% of Gross Profit 403.64% 904.42% 65836.87%
Research & Development $528.2K $330.4K $197.3K
YoY Change 167.77% 3.33% -85.12%
% of Gross Profit 96.29% 147.63% 9089.86%
Depreciation & Amortization $149.6K $23.50K $7.330K
YoY Change 1940.79% 2951.95% 130.5%
% of Gross Profit 27.27% 10.5% 337.79%
Operating Expenses $2.891M $2.518M $1.626M
YoY Change 77.8% 157.71% -26.32%
Operating Profit -$2.342M -$2.295M -$1.624M
YoY Change 44.26% 135.06%
Interest Expense -$13.16K $8.785K -$50.84K
YoY Change -74.11% -99.01% -98.83%
% of Operating Profit
Other Income/Expense, Net -$15.30K -$10.00K
YoY Change
Pretax Income -$2.371M -$2.289M -$1.675M
YoY Change 41.58% -53.48% -73.52%
Income Tax $2.290K $2.294K $0.00
% Of Pretax Income
Net Earnings -$2.373M -$2.291M -$1.675M
YoY Change 41.72% -53.43% -73.53%
Net Earnings / Revenue -107.22% -763.03% -71258.72%
Basic Earnings Per Share -$0.26
Diluted Earnings Per Share -$0.25 -$0.26 -$0.37
COMMON SHARES
Basic Shares Outstanding 9.502M shares 8.783M shares 8.370M shares
Diluted Shares Outstanding 8.697M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.822M $4.510M $11.41M
YoY Change -75.28% -66.59%
Cash & Equivalents $2.800M $4.500M $11.40M
Short-Term Investments
Other Short-Term Assets $321.0K $380.0K $531.9K
YoY Change -39.65% -29.8%
Inventory $18.48K $9.908K $5.540K
Prepaid Expenses
Receivables $811.7K $1.110M $10.49K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.973M $6.010M $11.96M
YoY Change -66.79% -57.24% 731.69%
LONG-TERM ASSETS
Property, Plant & Equipment $458.6K $512.2K $214.4K
YoY Change 113.88% 28656.43% 4528.49%
Goodwill $1.404M $1.149M
YoY Change
Intangibles $833.5K $848.1K $0.00
YoY Change
Long-Term Investments
YoY Change
Other Assets $16.06K $16.06K $6.000K
YoY Change 167.67% 167.67% 140.0%
Total Long-Term Assets $4.249M $4.179M $220.4K
YoY Change 1827.44% 53611.03% 1362.28%
TOTAL ASSETS
Total Short-Term Assets $3.973M $6.010M $11.96M
Total Long-Term Assets $4.249M $4.179M $220.4K
Total Assets $8.222M $10.19M $12.18M
YoY Change -32.51% -27.54% 738.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $604.8K $827.4K $345.0K
YoY Change 75.28% 452.09% 49.75%
Accrued Expenses $1.150M $643.8K $541.9K
YoY Change 112.18% 35.81% 12.08%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $251.7K
YoY Change -100.0% -100.0%
Long-Term Debt Due $365.5K $360.0K
YoY Change
Total Short-Term Liabilities $2.248M $1.959M $1.139M
YoY Change 97.41% 33.77% -91.27%
LONG-TERM LIABILITIES
Long-Term Debt $835.5K $930.0K $0.00
YoY Change
Other Long-Term Liabilities $283.0K $310.0K
YoY Change
Total Long-Term Liabilities $1.118M $1.240M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.248M $1.959M $1.139M
Total Long-Term Liabilities $1.118M $1.240M $0.00
Total Liabilities $3.366M $3.196M $1.139M
YoY Change 195.63% 118.25% -91.37%
SHAREHOLDERS EQUITY
Retained Earnings -$44.60M -$42.20M -$36.70M
YoY Change 21.53% 20.57% 28.71%
Common Stock $65.76K $64.54K $58.67K
YoY Change 12.09% 10.15% 213.07%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.855M $6.994M $11.04M
YoY Change
Total Liabilities & Shareholders Equity $8.222M $10.19M $12.18M
YoY Change -32.51% -27.54% 738.23%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q4
OPERATING ACTIVITIES
Net Income -$2.373M -$2.291M -$1.675M
YoY Change 41.72% -53.43% -73.53%
Depreciation, Depletion And Amortization $149.6K $23.50K $7.330K
YoY Change 1940.79% 2951.95% 130.5%
Cash From Operating Activities -$1.618M -$1.530M -$1.301M
YoY Change 24.39% -13.07% -21.48%
INVESTING ACTIVITIES
Capital Expenditures -$17.10K $0.00 $220.0K
YoY Change -107.77%
Acquisitions
YoY Change
Other Investing Activities $3.500K -$2.190M
YoY Change
Cash From Investing Activities $10.60K -$2.180M -$220.0K
YoY Change -104.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -84.98K -50.00K -563.6K
YoY Change -84.92% -100.33% -120.2%
NET CHANGE
Cash From Operating Activities -1.618M -1.530M -1.301M
Cash From Investing Activities 10.60K -2.180M -220.0K
Cash From Financing Activities -84.98K -50.00K -563.6K
Net Change In Cash -1.692M -3.760M -2.084M
YoY Change -18.81% -128.31% -283.98%
FREE CASH FLOW
Cash From Operating Activities -$1.618M -$1.530M -$1.301M
Capital Expenditures -$17.10K $0.00 $220.0K
Free Cash Flow -$1.601M -$1.530M -$1.521M
YoY Change 5.27% -8.2%

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CY2022Q3 BIAF Fair Value Adjustments On Convertible Notes Payable
FairValueAdjustmentsOnConvertibleNotesPayable
-3053914 usd
BIAF Fair Value Adjustments On Convertible Notes Payable
FairValueAdjustmentsOnConvertibleNotesPayable
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CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-2288590 usd
CY2022Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-4919158 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-5545147 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-6477070 usd
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2294 usd
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
300 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
18700 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2460 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-2290884 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-4919458 usd
us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
-6479530 usd
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.26
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.26
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.17
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.17
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.65
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.65
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.03
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8696554 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8696554 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4203781 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4203781 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8551154 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8551154 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3194765 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3194765 shares
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
11043443 usd
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
514313 usd
us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
1000000 usd
us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
6993909 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
8098348 usd
CY2023Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
186445 usd
CY2023Q3 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
1000000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-2290884 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
6993909 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-15790719 usd
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
211745 usd
us-gaap Adjustments To Additional Paid In Capital Convertible Debt With Conversion Feature
AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature
348219 usd
us-gaap Adjustments To Additional Paid In Capital Stock Split
AdjustmentsToAdditionalPaidInCapitalStockSplit
-185 usd
us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
383696 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1800000 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
6027414 usd
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
4044318 usd
us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
16065332 usd
BIAF Stock Issued During Period Value Exercise Of Warrants
StockIssuedDuringPeriodValueExerciseOfWarrants
7713310 usd
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
74900 usd
us-gaap Net Income Loss
NetIncomeLoss
-6479530 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
12598500 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
-16786329 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
-16786329 usd
CY2022Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
79013 usd
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Convertible Debt With Conversion Feature
AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature
134277 usd
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
165723 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1800000 usd
CY2022Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
6027414 usd
CY2022Q3 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
4044318 usd
CY2022Q3 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
16065332 usd
CY2022Q3 BIAF Stock Issued During Period Value Exercise Of Warrants
StockIssuedDuringPeriodValueExerciseOfWarrants
7713310 usd
CY2022Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
74900 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-4919458 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
12598500 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
12598500 usd
us-gaap Net Income Loss
NetIncomeLoss
-5563847 usd
us-gaap Net Income Loss
NetIncomeLoss
-6479530 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
100805 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2852 usd
us-gaap Accretion Expense
AccretionExpense
1972948 usd
BIAF Fair Value Adjustments On Convertible Notes Payable
FairValueAdjustmentsOnConvertibleNotesPayable
-1866922 usd
us-gaap Share Based Compensation
ShareBasedCompensation
514313 usd
us-gaap Share Based Compensation
ShareBasedCompensation
211745 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
212258 usd
us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
-71840 usd
us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
8400 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
4368 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
5715 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-152768 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
502177 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
406836 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-80725 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-144013 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1524 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
465653 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
38250 usd
BIAF Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
5913 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4421503 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2770209 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
36344 usd
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
2186497 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2222841 usd
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
6027414 usd
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
7713310 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
74900 usd
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
555148 usd
us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
251746 usd
us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
31612 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
8433 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
724000 usd
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
100000 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
55651 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-260179 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
14907509 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-6904523 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
12137300 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
11413759 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1360638 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4509236 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
13497938 usd
us-gaap Interest Paid Net
InterestPaidNet
11801 usd
us-gaap Interest Paid Net
InterestPaidNet
2459 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
18700 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
3945 usd
BIAF Common Stock Issuance For Acquisition Of Subsidiary
CommonStockIssuanceForAcquisitionOfSubsidiary
1000000 usd
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
4044318 usd
us-gaap Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
16065332 usd
BIAF Fair Value Of Warrants Issued To Placement Agents
FairValueOfWarrantsIssuedToPlacementAgents
383696 usd
BIAF Beneficial Conversion Feature For Bridge Notes
BeneficialConversionFeatureForBridgeNotes
348219 usd
CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-42200000 usd
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4500000 usd
CY2023Q3 BIAF Total Assets Percent
TotalAssetsPercent
0.44 pure
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84A_eus-gaap--UseOfEstimates_zydnHLuihVa6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86B_zPiggF7PAQFh">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include the valuation allowance on the Company’s deferred tax assets, stock-based compensation, valuation of goodwill and intangible assets related to the business combination, allowance for contractual adjustments and discounts related to service revenues, and the useful lives of fixed assets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
2500000 usd
CY2023Q3 BIAF Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Common Stock
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCommonStock
1000000 usd
CY2023Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
3500000 usd
CY2023Q3 BIAF Net Working Capital
NetWorkingCapital
1167000 usd
CY2023Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
326000 usd
CY2023Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Noncurrent Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets
8000 usd
CY2023Q3 BIAF Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Customer Relationships
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCustomerRelationships
700000 usd
CY2023Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
150000 usd
CY2023Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangibles
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles
1149000 usd
CY2023Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
3500000 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_846_eus-gaap--ConcentrationRiskCreditRisk_zInBqkFzrxI5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_860_zBW9iBMNgrDi">Concentration of Risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has significant cash balances at financial institutions which throughout the year regularly exceed the federally insured limit of $<span id="xdx_90D_eus-gaap--CashFDICInsuredAmount_iI_c20230930_zIygYiEvgfd4" title="Federal insured limit">250,000</span>. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flow.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
us-gaap Advertising Expense
AdvertisingExpense
43000 usd
us-gaap Advertising Expense
AdvertisingExpense
13000 usd
CY2023Q3 us-gaap Advertising Expense
AdvertisingExpense
10000 usd
CY2022Q3 us-gaap Advertising Expense
AdvertisingExpense
5000 usd
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.007
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5333647 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5514717 shares
CY2023Q3 us-gaap Revenues
Revenues
300236 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
298484 usd
CY2022Q3 us-gaap Revenues
Revenues
1150 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1150 usd
us-gaap Revenues
Revenues
320895 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
319143 usd
us-gaap Revenues
Revenues
2457 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2457 usd
CY2023Q3 BIAF Cy Path Lung Royalty Income
CyPathLungRoyaltyIncome
16107 usd
CY2022Q4 BIAF Cy Path Lung Royalty Income
CyPathLungRoyaltyIncome
4803 usd
CY2023Q3 BIAF Laboratory Services
LaboratoryServices
12390 usd
CY2023Q3 us-gaap Other Receivables
OtherReceivables
4730 usd
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_84E_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zBJWWuIQJNLc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86F_zgIC7JlDLsId">Reclassifications</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain prior year balances have been reclassified to conform to current year presentation. The Company reclassified patent expenses and annuity costs of approximately $<span id="xdx_903_ecustom--ReclassifiedPatentExpensesAndAnnuityCosts_c20220101__20220930__us-gaap--IncomeStatementLocationAxis__us-gaap--SellingGeneralAndAdministrativeExpensesMember__srt--RestatementAxis__srt--RestatementAdjustmentMember_zp1S17uI5KFd" title="Reclassified patent expenses and annuity costs">142,000</span> and $<span id="xdx_905_ecustom--ReclassifiedPatentExpensesAndAnnuityCosts_c20220701__20220930__us-gaap--IncomeStatementLocationAxis__us-gaap--SellingGeneralAndAdministrativeExpensesMember__srt--RestatementAxis__srt--RestatementAdjustmentMember_z5idPzRabkF3" title="Reclassified patent expenses and annuity costs">41,000</span> from research and development to selling, general and administrative for the nine months and three months ended September 30, 2022, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
BIAF Property Plant And Equipment Useful Life Description
PropertyPlantAndEquipmentUsefulLifeDescription
Lesser of lease term or useful life
CY2023Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
1998553 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-1943 usd
CY2023Q3 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
1996610 usd
CY2023Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1943 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1943 usd
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
0 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
0 usd
CY2022Q4 us-gaap Other Receivables
OtherReceivables
5686 usd
CY2023Q3 BIAF Purchased Receivables From Acquisition Net Of Collections
PurchasedReceivablesFromAcquisitionNetOfCollections
791852 usd
CY2023Q3 BIAF Net Patient Fees Receivable
NetPatientFeesReceivable
249088 usd
CY2023Q3 BIAF Histology Fees
HistologyFees
31854 usd
CY2023Q3 BIAF Medical Director Fees
MedicalDirectorFees
2393 usd
CY2023Q3 us-gaap Receivables Net Current
ReceivablesNetCurrent
1108414 usd
CY2022Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
10489 usd
CY2023Q3 us-gaap Prepaid Insurance
PrepaidInsurance
240540 usd
CY2022Q4 us-gaap Prepaid Insurance
PrepaidInsurance
340078 usd
CY2023Q3 BIAF Prepaid Legal And Professional
PrepaidLegalAndProfessional
30847 usd
CY2022Q4 BIAF Prepaid Legal And Professional
PrepaidLegalAndProfessional
72048 usd
CY2023Q3 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
111264 usd
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
119773 usd
CY2023Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
382651 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
531899 usd
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
848112 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
483617 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
335960 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
269180 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
512152 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
214438 usd
us-gaap Depreciation
Depreciation
66800 usd
us-gaap Depreciation
Depreciation
2900 usd
CY2023Q3 us-gaap Depreciation
Depreciation
23500 usd
CY2022Q3 us-gaap Depreciation
Depreciation
800 usd
CY2023Q3 BIAF Compensation
Compensation
554511 usd
CY2022Q4 BIAF Compensation
Compensation
340680 usd
CY2023Q3 BIAF Legal And Professional
LegalAndProfessional
18487 usd
CY2022Q4 BIAF Legal And Professional
LegalAndProfessional
144440 usd
CY2023Q3 BIAF Clinical
Clinical
27776 usd
CY2022Q4 BIAF Clinical
Clinical
50922 usd
CY2023Q3 BIAF Billing Fees
BillingFees
19525 usd
CY2023Q3 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
23487 usd
CY2022Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
5852 usd
CY2023Q3 BIAF Accrued Expenses
AccruedExpenses
643786 usd
CY2022Q4 BIAF Accrued Expenses
AccruedExpenses
541894 usd
CY2023Q3 us-gaap Deferred Revenue
DeferredRevenue
38250 usd
CY2023Q3 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P3Y9M29D
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
32081 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
8634 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
9972 usd
us-gaap Lease Cost
LeaseCost
50687 usd
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
392347 usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
90863 usd
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
307397 usd
CY2023Q3 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
1294168 usd
CY2023Q3 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
32081 usd
CY2023Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
1262087 usd
CY2023Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
358282 usd
CY2023Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
929570 usd
CY2023Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
1287852 usd
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y9M29D
CY2023Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y6M
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0807 pure
CY2023Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0801 pure
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
28431 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
112126 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
121726 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
448505 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
121726 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
448505 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
121726 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
270395 usd
CY2023Q3 BIAF Lessee Operating Lease Liability Payments Due Year Four And Thereafter
LesseeOperatingLeaseLiabilityPaymentsDueYearFourAndThereafter
71007 usd
CY2023Q3 BIAF Finance Lease Liability Payments Due Year Four And Thereafter
FinanceLeaseLiabilityPaymentsDueYearFourAndThereafter
202970 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
464616 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
1482501 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
66356 usd
CY2023Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
194649 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
398260 usd
CY2023Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
1287852 usd
CY2023Q3 us-gaap Payments For Rent
PaymentsForRent
35000 usd
CY2022Q3 us-gaap Payments For Rent
PaymentsForRent
15000 usd
us-gaap Payments For Rent
PaymentsForRent
88000 usd
us-gaap Payments For Rent
PaymentsForRent
41000 usd
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
25000000 shares
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.007
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
14285715 shares
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
25000000 shares
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
9350297 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
8381324 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
2000000 shares
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
186445 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
79013 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
514313 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
211745 usd
CY2023Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
0 usd
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
64848 shares
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
74900 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
7142 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.84
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
227760 shares
CY2022Q3 us-gaap Share Price
SharePrice
4.62
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.639 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0220 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2023Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
4649952 shares
CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
4649952 shares

Files In Submission

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0001493152-23-040986-index-headers.html Edgar Link pending
0001493152-23-040986-index.html Edgar Link pending
0001493152-23-040986.txt Edgar Link pending
0001493152-23-040986-xbrl.zip Edgar Link pending
biaf-20230930.xsd Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
MetaLinks.json Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
biaf-20230930_cal.xml Edgar Link unprocessable
biaf-20230930_pre.xml Edgar Link unprocessable
form10-q_htm.xml Edgar Link completed
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report.css Edgar Link pending
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biaf-20230930_lab.xml Edgar Link unprocessable
biaf-20230930_def.xml Edgar Link unprocessable