Company: BIAF
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023405
Chunk: 57

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 57
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 unless we requested
an appeal to a hearings panel (the “Panel”) by August 14, 2025, our securities would be scheduled for delisting from The
Nasdaq Capital Market and would be suspended at the opening of business on August 18, 2025.

We
submitted an appeal to Nasdaq on August 14, 2025, which stayed the delisting and suspension of the Company’s securities pending
the decision of the Panel. On August 14, 2025, we received written notice from Nasdaq that our hearing has been scheduled for September
11, 2025. At the hearing, the Company presented its views and its plans to regain compliance with the Minimum Bid Price Requirement and
the Continued Listing Equity Requirement to the Panel. On September 18, 2025, Nasdaq granted us an extension until October 2, 2025 to
demonstrate compliance with the Minimum Bid Price Requirement and Continued Listing Equity Requirement. On October 14, 2025, the Company
received a letter from Nasdaq stating that the Panel had found the Company to be in compliance with Listing Rule 5550(a)(2) (the “Minimum
Bid Price Rule”) and 5550(b)(1) (the “Minimum Stockholders’ Equity Rule”). The letter also indicated that the
Company will be subject to a mandatory panel monitor for a period of one year. If, within that one-year monitoring period, the Company
fails to comply with the Minimum Stockholders’ Equity Rule, the Company will not be permitted additional time to regain compliance.
However, the Company will have an opportunity to request a new hearing with the Nasdaq Hearings Panel prior to the Company’s securities
being delisted from Nasdaq.

30

There
is no assurance that we will maintain compliance with the minimum listing requirements with all applicable requirements for continued
listing on Nasdaq. If our securities were delisted from Nasdaq, trading of our securities would most likely take place on an over-the-counter
market established for unlisted securities, such as the OTCQB or the Pink Market maintained by OTC Markets Group Inc. An investor would
likely find it less convenient to sell, or to obtain accurate quotations in seeking to buy, our securities on an over-the-counter market,
and many investors would likely not buy or sell our securities due to difficulty in accessing over-the-counter markets, policies preventing
them from trading in securities not listed on a national exchange or other reasons. In addition, as