Company: BIAF
Filing Date: 2025-04-15
Form Type: PRE 14A
Source: 0001641172-25-004857
Chunk: 38

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-04-15
Form: PRE 14A
Chunk 38
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 funds,
who have not received them, will have to seek to obtain such funds directly from the jurisdiction to which they were paid.

Material U.S. Federal Income Tax Considerations Related to the Reverse Stock Split

The following is a general summary of the material
U.S. federal income tax considerations to U.S. holders (as defined below) of the Reverse Stock Split. This discussion is based upon current
provisions of the Internal Revenue Code of 1986, as amended (the “Code”), existing and proposed Treasury regulations
promulgated under the Code (the “Treasury Regulations”) and judicial authority and administrative interpretations,
all as of the date of this document, and all of which are subject to change, possibly with retroactive effect, and are subject to differing
interpretations. Changes in these authorities may cause the tax consequences to vary substantially from the consequences described below.
We have not sought and will not seek an opinion of counsel or any rulings from the Internal Revenue Service (the “IRS”)
with respect to any of the tax considerations discussed below. As a result, there can be no assurance that the IRS will not assert, or
that a court would not sustain, a position contrary to any of the conclusions set forth below.

This discussion is limited to U.S. holders (except
to the extent such discussion explicitly addresses non-U.S. holders) that hold Common Stock as “capital assets” within the
meaning of Section 1221 of the Code (generally, property held for investment). This discussion does not address any tax consequences arising
under the tax on net investment income or the alternative minimum tax, nor does it address any tax consequences arising under the laws
of any state, local or non-U.S. jurisdiction, U.S. federal estate or gift tax laws, or any tax treaties. Furthermore, this discussion
does not address all aspects of U.S. federal income taxation that may be applicable to U.S. holders in light of their particular circumstances
or to U.S. holders that may be subject to special rules under U.S. federal income tax laws, including, without limitation:

| ● | a bank, insurance company or other financial institution; |

| ● | a tax-exempt or a governmental organization; |

| ● | a real estate investment trust; |

| ● | an S corporation or other pass-through entity (or an investor in an S corporation or other pass-through 
 entity);                                                                                                |

| ● | a regulated investment company or a mutual fund; |

| ● | a dealer