Company: BIAF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001840
Chunk: 40

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 40
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. Our innovative and collaborative culture is in part responsible
for our ability to attract and retain highly skilled professionals seeking professional advancement. Outside partnerships and collaborations
that advance business and scientific research are encouraged, allowing us to multiply workforce efforts without expending significant
capital.

Implications
of Being an Emerging Growth Company and a Smaller Reporting Company

We
qualify as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012, or the JOBS Act. For
as long as we remain an emerging growth company, we may take advantage of specified reduced reporting requirements and other burdens
that are otherwise applicable generally to other public companies. These provisions include, but are not limited to:

    ●
    reduced
    obligations with respect to financial data, including presenting only two years of audited financial statements and selected financial
    data, and only two years of related Management’s Discussion and Analysis of Financial Condition and Results of Operations disclosure
    in our initial registration statement;

 21 

    ●
    an
    exemption from the auditor attestation requirement in the assessment of our internal control over financial reporting pursuant to
    the Sarbanes-Oxley Act of 2002, as amended (“SOX”);

    ●
    reduced
    disclosure about executive compensation arrangements in our periodic reports, registration statements, and proxy statements; and

    ●
    exemptions
    from the requirements to seek non-binding advisory votes on executive compensation or stockholder approval of any golden parachute
    arrangements.

We
may take advantage of some or all of these provisions until we are no longer an emerging growth company. We will remain an emerging growth
company until the earliest of (1) the last day of the fiscal year following the fifth anniversary of the completion of our initial public
offering, (2) the last day of the first fiscal year in which our annual gross revenues exceed $1.235 billion, (3) the date on which we
have, during the immediately preceding three-year period, issued more than $1.0 billion in non-convertible debt securities and (4) the
date on which we are deemed to be a large accelerated filer under the rules of the SEC. We may choose to take advantage of some but not
all of these reduced burdens. For example, we have taken advantage of the reduced reporting requirements with respect to disclosure regarding
our executive compensation arrangements, have presented only two years of audited financial statements and only two years of