Company: BIAF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001840
Chunk: 232

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 232
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 federal courts have exclusive jurisdiction. Section
22 of the Securities Act creates concurrent jurisdiction for federal and state courts over all suits brought to enforce any duty or liability
created by the Securities Act or the rules and regulations thereunder. However, our Charter and our A&R Bylaws contain a federal
forum provision which provides that unless we consent in writing to the selection of an alternative forum, the federal district courts
of the U.S. will be the exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities
Act. We note, however, that there is uncertainty as to whether a court would enforce this provision and that investors cannot waive compliance
with the federal securities laws and the rules and regulations thereunder.

Any
person or entity purchasing or otherwise acquiring any interest in any of our securities shall be deemed to have notice of and consented
to this provision. This exclusive forum provision may limit a stockholder’s ability to bring a claim in a judicial forum of its
choosing for disputes with us or our directors, officers, or other employees, which may discourage lawsuits against us and our directors,
officers, and other employees. If a court were to find the exclusive forum provision in our Charter to be inapplicable or unenforceable
in an action, we may incur additional costs associated with resolving the dispute in other jurisdictions, which could harm our results
of operations.

Certain
limitation-of-liability and indemnification provisions in our Charter and A&R Bylaws may discourage stockholders from bringing a
lawsuit against our directors and officers for breaches of their fiduciary duties, may reduce the likelihood of derivative litigation
against our directors and officers, even though an action, if successful, might benefit the Company and other stockholders, and may adversely
impact stockholders’ investments to the extent that the Company pays the costs of settlement and damage awards against directors
and officers as required by these indemnification provisions.

Our
Charter contains provisions that limit the liability of our directors for monetary damages to the fullest extent permitted by the DGCL.
Consequently, our directors will not be personally liable to us or our stockholders for monetary damages for any breach of fiduciary
duties as directors, except liability for:

    ●
    any
    breach of the director’s duty of loyalty to us or our stockholders;

 50 

    ●
    any
    act or omission not in good faith or that involves intentional misconduct or a knowing violation of law;

    ●