Company: BIAF
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023405
Chunk: 99

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part II, Item 1A
Chunk 99
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 of the acquisition. In addition, since we
have limited experience operating a clinical laboratory, we may not accurately estimate the expenses we will incur.

29

Risks
Related to Ownership of Our Common Stock and Warrants

Our
failure to maintain compliance with the continued listing requirements of The Nasdaq Capital Market could result in a de-listing of our
Common Stock.

The
shares of our Common Stock are currently listed for trading on The Nasdaq Capital Market under the symbol “BIAF” and our
tradeable warrants are listed for trading on The Nasdaq Capital Market under the symbol “BIAFW.” We must satisfy Nasdaq’s
continued listing requirements, including, among other things, a minimum stockholders’ equity of $2.5 million and a minimum
closing bid price of $1.00 per share or risk delisting, which would have a material adverse effect on our business. A delisting of our
common stock from Nasdaq could materially reduce the liquidity of our common stock and result in a corresponding material reduction in
the price of our common stock. In addition, delisting could harm our ability to raise capital through alternative financing sources on
terms acceptable to us, or at all, and may result in the potential loss of confidence by investors, suppliers, customers and employees
and fewer business development opportunities.

We
have in the past, and may in the future, be unable to comply with certain of the listing standards that we are required to meet to
maintain the listing of our securities on The Nasdaq Capital market. For example, on February 7, 2025, we received written
notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying us that for the
preceding 30 consecutive business days (December 23, 2024, through February 6, 2025), our Common Stock did not maintain a minimum
closing bid price of $1.00 (“Minimum Bid Price Requirement”) per share as required by Nasdaq Listing Rule 5550(a)(2).
Therefore, in accordance with Nasdaq Listing Rule 5810(c)(3)(A), we were provided 180 calendar days, or util August 6, 2025, to
regain compliance with the rule.

In
addition, on May 27, 2025 we received written notice from the Staff stating that we were not in compliance with Nasdaq Listing Rule 5550(b)(1)
(the “Continued Listing