Company: BIAF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001840
Chunk: 236

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 236
---

and mitigate cybersecurity risks. The cybersecurity stakeholders, including member(s) of management assigned with cybersecurity oversight
responsibility and/or third-party consultants providing cyber risk services, brief the Audit Committee on cyber vulnerabilities identified
through the risk management process, the effectiveness of the cyber risk management program, and the emerging threat landscape and new
cyber risks on at least an annual basis. This includes updates on bioAffinity processes to prevent, detect, and mitigate cybersecurity
incidents. In addition, cybersecurity risks are reviewed by our Board of Directors at least annually, as part of the Company’s
corporate risk oversight processes.

bioAffinity
faces risks from cybersecurity threats that could have a material adverse effect on its business, financial condition, results of operations,
cash flows, or reputation. bioAffinity acknowledges that the risk of cyber incident is prevalent in the current threat landscape and
that a future cyber incident may occur in the normal course of its business. However, prior cybersecurity incidents have not had a material
adverse effect on our business, financial condition, results of operations, or cash flows. The Company proactively seeks to detect and
investigate unauthorized attempts and attacks against our IT assets, data, and services, and to prevent their occurrence and recurrence
where practicable through changes or updates to internal processes and tools and changes or updates to service delivery; however, potential
vulnerabilities to known or unknown threats will remain. Further, there is increasing regulation regarding responses to cybersecurity
incidents, including reporting to regulators, investors, and additional stakeholders, which could subject the Company to additional liability
and reputational harm. In response to such risks, the Company has implemented initiatives such as implementation of the cybersecurity
risk assessment process and development of an incident response plan. For more information on cybersecurity risks see Item 1A. “Risk
Factors – Our internal information technology systems, or those of our third-party clinical research organizations or other contractors
or consultants, may fail or suffer security breaches, loss or leakage of data, and other disruptions, which could result in a material
disruption of our diagnostic tests’ or therapeutic product candidates’ development programs, compromise sensitive information
related to our business, or prevent us from accessing critical information, potentially exposing us to liability or otherwise adversely
affecting our business.”

 52 

Item
2. Properties.

In
June 2015, we were accepted into the “New Venture Incubator Program,” which was established by The University of Texas at
San Antonio (“UTSA”)