Company: BIAF
Filing Date: 2025-06-02
Form Type: DEF 14A
Source: 0001641172-25-013280
Chunk: 38

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-02
Form: DEF 14A
Chunk 38
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 to Section 877 or 877A of the Code. |

If a partnership, or any entity (or arrangement) treated
as a partnership for U.S. federal income tax purposes, holds Common Stock, the tax treatment of a partner in such partnership generally
will depend on the status of the partner and the activities of the partnership and upon certain determinations made at the partner level.
Partnerships holding Common Stock and partners in such partnerships should consult their own tax advisors about the U.S. federal income
tax consequences of the Reverse Stock Split.

| 21 |

For purposes of this discussion, a “U.S. holder”
is a beneficial owner of shares of Common Stock that is for U.S. federal income tax purposes:

| ● | an individual citizen or resident of the United States; |

| ● | a corporation (or any other entity taxable as a corporation for U.S. federal income tax purposes) created 
 or organized in or under the laws of the United States, any state thereof or the District of Columbia;    |

| ● | an estate, whose income is subject to U.S. federal income tax regardless of its source; or |

| ● | a trust (i) the administration of which is subject to the primary supervision of a U.S. court and that                                
 has one or more United States persons that have the authority to control all substantial decisions of the trust or (ii) that has made 
 a valid election under applicable Treasury Regulations to be treated as a domestic trust.                                             |

A “non-U.S. holder” is, for U.S. federal
income tax purposes, a beneficial owner of shares of Common Stock that is not a U.S. holder or a partnership for U.S. federal income
tax purposes.

Tax Consequences of the Reverse Stock Split Generally

The Reverse Stock Split should constitute
a “recapitalization” for U.S. federal income tax purposes. As a result, a U.S. holder of Common Stock generally should not
recognize gain or loss upon the Reverse Stock Split, except with respect to cash received in lieu of a fractional share of Common Stock,
as discussed below. A U.S. holder’s aggregate tax basis in the shares of Common Stock received pursuant to the Reverse Stock Split
should equal the aggregate tax basis of the shares of Common Stock surrendered (excluding any portion of such basis that is allocated
to any fractional share of Common Stock), and such U.S. holder’s holding period in the shares of Common Stock received should include
the holding period in