Company: BIAF
Filing Date: 2025-05-30
Form Type: 8-K
Source: 0001641172-25-013021
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Company: bioAffinity Technologies, Inc.
Filing Date: 2025-05-30
Form: 8-K
Item: Item 3.01
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Item
3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On
May 27, 2025, bioAffinity Technologies, Inc. (the “ Company”) received written notice from the Listing Qualifications Department
of The Nasdaq Stock Market LLC (“ Nasdaq”) stating that the Company was not in compliance with Nasdaq Listing Rule 5550(b)(1)
(the “ Rule”) because the stockholders’ equity of the Company of $1,439,404 as of March 31, 2025, as reported in the
Company’s Quarterly Report on Form 10-Q filed with the SEC on May 15, 2025, was below the minimum requirement of $2,500,000. As
of the date of this Current Report on Form 8-K, the Company does not have a market value of listed securities of $35 million, or net
income from continued operations of $500,000 in the most recently completed fiscal year or in two of the last three most recently completed
fiscal years, the alternative quantitative standards for continued listing on the Nasdaq Capital Market.

The
notification received has no immediate effect on the Company’s continued listing on the Nasdaq Capital Market, subject to the Company’s
compliance with the other continued listing requirements, and the Company’s common stock, par value $0.007 per share
(the “ Common Stock”) will continue to trade on The Nasdaq Capital Market under the symbol “ BIAF.”

Pursuant
to Nasdaq’s Listing Rules, the Company has 45 calendar days (until July 11, 2025), to submit a plan to regain compliance with the
Rule (a “ Compliance Plan”). The Company intends to submit a Compliance Plan within the required time, monitor its stockholders’
equity and, if appropriate, consider further available options to regain compliance with the Stockholders’ Equity Requirement,
although there can be no assurance that the Compliance Plan will be accepted by Nasdaq. If the Compliance Plan is accepted by Nasdaq,
the Company can be granted an extension of up to 180 calendar days from May 27, 2025 to regain compliance with the Rule.

In
the event the Compliance Plan is not accepted by Nasdaq, or in the event the Compliance Plan is accepted but the Company fails to regain
compliance within the extension period, the Company will have the right to a hearing before Nasdaq’s Hearing Panel. The hearing