Company: BIAF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001840
Chunk: 41

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 41
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“Management’s Discussion and Analysis of Financial Condition and Results of Operations” disclosure in this Annual Report,
and have taken advantage of the exemption from auditor attestation on the effectiveness of our internal control over financial reporting.
To the extent that we take advantage of these reduced burdens, the information that we provide stockholders may be different than you
might obtain from other public companies in which you hold equity interests.

In
addition, the JOBS Act permits emerging growth companies to take advantage of an extended transition period to comply with new or revised
accounting standards applicable to public companies. We have elected to use this extended transition period. As a result of this election,
our timeline to comply with new or revised accounting standards will in many cases be delayed as compared to other public companies that
are not eligible to take advantage of this election or have not made this election. Therefore, our financial statements may not be comparable
to those of companies that comply with the public company effective dates for these accounting standards.

We
are also a “smaller reporting company” as defined in the Exchange Act and have elected to take advantage of certain of the
scaled disclosures available to smaller reporting companies. To the extent that we continue to qualify as a “smaller reporting
company” as such term is defined in Rule 12b-2 under the Exchange Act, after we cease to qualify as an emerging growth company,
certain of the exemptions available to us as an “emerging growth company” may continue to be available to us as a “smaller
reporting company,” including exemption from compliance with the auditor attestation requirements pursuant to SOX and reduced disclosure
about our executive compensation arrangements. We will continue to be a “smaller reporting company” until we have $250 million
or more in public float (based on our Common Stock) measured as of the last business day of our most recently completed second fiscal
quarter or in the event we have no public float (based on our Common Stock) or a public float (based on our Common Stock) that is less
than $700 million, annual revenues of $100 million or more during the most recently completed fiscal year.

Item
1A. Risk Factors.

Risks
Related to Our Financial Position

Our
business plan relies upon our ability to obtain additional sources of capital and financing. If the amount of capital we are able to
raise from financing activities, together with our revenues from operations, is not sufficient to satisfy our capital needs, we may be
required to cease operations