Company: BIAF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001840
Chunk: 192

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 192
---
 have
also involved exfiltration and disclosure of sensitive or confidential personal or proprietary information, or intellectual property,
when victim companies have not paid the cyber criminals substantial ransom payments. For example, any such event that leads to unauthorized
access, use, disclosure, unavailability, or compromised integrity of personal or other sensitive or essential information, including
personal information regarding our clinical trial subjects or employees, could harm our reputation directly, compel us to comply with
federal and/or state breach notification laws and foreign law equivalents, subject us to mandatory corrective action, increase the costs
we incur to protect against such information security breaches, such as increased investment in technology, render key personnel unable
to perform duties or communicate throughout the organization, and otherwise subject us to fines and other liability under laws and regulations
that protect the privacy and security of personal information, which could result in significant legal and financial exposure and reputational
damages that could potentially have an adverse effect on our business.

The
costs of mitigating cybersecurity risks are significant and are likely to increase in the future. These costs include, but are not limited
to, retaining the services of cybersecurity providers; compliance costs arising out of existing and future cybersecurity, data protection
and privacy laws and regulations; and costs related to maintaining redundant networks, data backups and other damage-mitigation measures.
We also cannot be certain that our existing insurance coverage will continue to be available on acceptable terms or in amounts sufficient
to cover the potentially significant losses that may result from a security incident or breach or that the insurer will not deny coverage
of any future claim.

Declining
general economic or business conditions, including tariff and customs regulations, may have a negative impact on our business.

Continuing
concerns over the U.S. healthcare system and energy costs, geopolitical issues, the availability and cost of credit and government stimulus
programs in the U.S. and other countries have contributed to increased volatility and diminished expectations for the global economy.
These factors, combined with low business and consumer confidence, could precipitate an economic slowdown and recession. Additionally,
political changes in the U.S. and elsewhere in the world have created a level of uncertainty in the markets. If the economic climate
deteriorates, our business, as well as the financial condition of our suppliers and our third-party payors, could be adversely affected,
resulting in a negative impact on our business, financial condition, and results of operations.

Changes in U.S. or international social, political, regulatory and economic
conditions or