Company: BIAF
Filing Date: 2025-04-11
Form Type: S-1
Source: 0001641172-25-003892
Chunk: 18

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-04-11
Form: S-1
Chunk 18
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 war in the Middle East, increasing economic uncertainty and inflationary
pressures, and any consequent worsening of the global business and economic environment. New factors emerge from time to time, and it
is not possible for us to predict all such factors. Should one or more of the risks or uncertainties described in this prospectus or any
other filing with the U.S. Securities and Exchange Commission (the “SEC”) occur, or should the assumptions underlying the
forward-looking statements we make herein and therein prove incorrect, our actual results and plans could differ materially from those
expressed in any forward-looking statements. We undertake no obligation to update publicly any forward-looking statements, whether as
a result of new information, future events, or otherwise, except as required by law.

You should read this prospectus and the documents
that we reference within it with the understanding that our actual future results, performance, and events and circumstances may be materially
different from what we expect.

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<div align='center'>RISK FACTORS</div>

Investing in our Company involves a high degree of risk. You should carefully consider the following information about these risks, together with the other information appearing elsewhere in this Prospectus before deciding to invest in our Company. The occurrence of any of the following risks could have a material and adverse effect on our business, reputation, financial condition, results of operations, and future growth prospects, as well as our ability to accomplish our strategic objectives. As a result, the market value of our Common Stock could decline, and you could lose all or part of your investment. Additional risks and uncertainties not presently known to us or that we currently deem immaterial may also impair our business operations and market value.

Risks Related to Our Financial Position

Our business plan relies upon our ability to obtain additional sources of capital and financing. If the amount of capital we are able to raise from financing activities, together with our revenues from operations, is not sufficient to satisfy our capital needs, we may be required to cease operations.

Prior to 2022, we had not generated any revenue. During
the years ended December 31, 2024, and December 31, 2023, we generated revenue of approximately $9.4 million and $2.5 million, respectively.

To become and remain profitable, we must succeed in
generating additional laboratory revenue in excess of our operating expenses and developing and commercializing our diagnostic tests and
therapeutic products that we expect will generate significant income in the planned timeframe.