Company: BIAF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001840
Chunk: 68

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 68
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 health information, could harm PPLS’ reputation, compel PPLS to comply with state
breach notification laws, subject PPLS to mandatory corrective action, require PPLS to verify the correctness of database contents and
otherwise subject PPLS to liability under laws that protect personal data, resulting in increased costs or loss of revenue. If PPLS is
unable to prevent such security breaches or privacy violations or implement satisfactory remedial measures, its operations could be disrupted,
and it may suffer loss of reputation, financial loss, and other regulatory penalties because of lost or misappropriated information,
including sensitive patient data. In addition, these breaches and other inappropriate access can be difficult to detect, and any delay
in identifying them may lead to increased harm of the type described above.

Any
such breach or interruption could compromise PPLS’ networks, and the information stored there could be inaccessible or could be
accessed by unauthorized parties, publicly disclosed, lost, or stolen. Any such interruption in access, improper access, disclosure,
modification of, or other loss of information could result in legal claims or proceedings, liability under laws that protect the privacy
of personal information, such as HIPAA, and regulatory penalties. Unauthorized access, loss, or dissemination could also disrupt PPLS’
operations, including its ability to perform tests, provide test results, bill payors or patients, process claims and appeals, provide
customer assistance services, conduct research and development activities, develop and commercialize tests, collect, process and prepare
company financial information, provide information about tests, educate patients and clinicians about services, and manage the administrative
aspects of its business, any of which could damage its reputation and adversely affect our business. Any such breach could also result
in the compromise of PPLS’ trade secrets and other proprietary information, which could adversely affect our competitive position.

In
addition, the interpretation and application of health-related, privacy, and data protection laws in the U.S., Europe, and elsewhere
are often uncertain, contradictory, and in flux. It is possible that these laws may be interpreted and applied in a manner that is inconsistent
with PPLS’ practices. If so, this could result in government-imposed fines or orders requiring that it change its practices, which
could adversely affect our business and its reputation. Complying with these various laws could cause us to incur substantial costs or
require PPLS to change its business practices and compliance procedures in a manner adverse to our business.