Company: BIAF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024163
Chunk: 94

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part II, Item 3
Chunk 94
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 of fraudulent activity,
then the states can regulate or bar the sale of covered securities in a particular case. Further, if we were to be delisted from The
Nasdaq Capital Market, our Common Stock would cease to be recognized as a covered security, and we would be subject to regulation in
each state in which we offer our securities.

Our
management collectively owns a substantial percentage of our Common Stock.

Based
on the provisions for determining beneficial ownership in accordance with Rule 13d-3 and Item 403 of Regulation S-K under the Exchange
Act, our officers and directors own or exercise control of approximately 46.13% of the voting power of our outstanding Common Stock.
As a result, investors may be prevented from affecting matters involving our Company, including:

    ●
    the composition of our
    Board and, through it, any determination with respect to our business direction and policies, including the appointment and removal
    of officers;

    ●
    any determinations with
    respect to mergers or other business combinations;

    ●
    our acquisition or disposition
    of assets; and

    ●
    our corporate financing
    activities.

Furthermore,
this concentration of voting power could have the effect of delaying, deterring, or preventing a change of control or other business
combination that might otherwise be beneficial to our stockholders. This significant concentration of share ownership may also adversely
affect the trading price for our Common Stock because investors may perceive disadvantages in owning stock in a company that is controlled
by a small number of stockholders.

ITEM
2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

None.

ITEM
3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM
4. MINE SAFETY DISCLOSURES.

Not
applicable.

ITEM
5. OTHER INFORMATION.

Rule
10b5-1 Trading Plans

During
the fiscal quarter ended June 30, 2025, none of the Company’s directors or executive officers adopted or terminated any contract,
instruction or written plan for the purchase or sale of Company securities that was intended to satisfy the affirmative defense conditions
of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement.”

31

ITEM
6. EXHIBITS.

    Exhibit
    No.
     
    Title
    of Document

    31.1*
     
    Certification of Chief Executive Officer pursuant