Company: BIAF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001840
Chunk: 105

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 105
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 research and reports that securities or industry analysts publish about
us or our business. Securities and industry analysts do not currently, and may never, publish research on our Company. If no or only
very few securities analysts commence coverage of us, or if industry analysts cease coverage of us, the trading price for our Common
Stock would be negatively affected. If one or more of the analysts who cover us downgrade our Common Stock or publish inaccurate or unfavorable
research about our business, our Common Stock price would likely decline. If one or more of these analysts cease coverage of us or fail
to publish reports on us regularly, demand for our Common Stock could decrease, which might cause our Common Stock price and trading
volume to decline.

If
we fail to establish and maintain an effective system of internal control or disclosure controls and procedures are not effective, we
may not be able to report our financial results accurately and timely or to prevent fraud. Any inability to report and file our financial
results accurately and timely could harm our reputation and adversely impact the trading price of our Common Stock.

Effective
internal controls are necessary for us to provide reliable financial reports and effectively prevent fraud. Section 404 of the Sarbanes-Oxley
Act of 2002 (“SOX”) requires us to evaluate and report on our internal controls over financial reporting and, depending on
our future growth, may require our independent registered public accounting firm to annually attest to our evaluation, as well as issue
its own opinion on our internal controls over financial reporting. The process of implementing and maintaining proper internal controls
and complying with Section 404 is expensive and time consuming. We cannot be certain that the measures we will undertake will ensure
that we will maintain adequate controls over our financial processes and reporting in the future. Furthermore, if we are able to rapidly
grow our business, the internal controls that we will need may become more complex, and significantly more resources will be required
to ensure our internal controls remain effective. Failure to implement required controls or difficulties encountered in their implementation
could harm our operating results or cause us to fail to meet our reporting obligations. If we or our auditors discover a material weakness
in our internal controls, the disclosure of that fact, even if the weakness is quickly remedied, could diminish investors’ confidence
in our financial statements and harm our stock price. In addition, non-compliance with Section 404 could subject us to a variety of administrative
sanctions, including the suspension of trading, ineligibility for future listing on one of