Company: BIAF
Filing Date: 2025-05-07
Form Type: 424B4
Source: 0001641172-25-008977
Chunk: 77

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-05-07
Form: 424B4
Chunk 77
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 Any inability to report and file our financial results accurately and timely could harm our reputation and adversely impact the trading price of our Common Stock.

Effective internal controls are necessary for us to provide reliable financial reports and effectively prevent fraud. Section 404 of SOX (“Section 404”) requires us to evaluate and report on our internal controls over financial reporting and, depending on our future growth, may require our independent registered public accounting firm to annually attest to our evaluation, as well as issue its own opinion on our internal controls over financial reporting. The process of implementing and maintaining proper internal controls and complying with Section 404 is expensive and time consuming. We cannot be certain that the measures we will undertake will ensure that we will maintain adequate controls over our financial processes and reporting in the future. Furthermore, if we are able to rapidly grow our business, the internal controls that we will need may become more complex, and significantly more resources will be required to ensure our internal controls remain effective. Failure to implement required controls or difficulties encountered in their implementation could harm our operating results or cause us to fail to meet our reporting obligations. If we or our auditors discover a material weakness in our internal controls, the disclosure of that fact, even if the weakness is quickly remedied, could diminish investors’ confidence in our financial statements and harm our stock price. In addition, non-compliance with Section 404 could subject us to a variety of administrative sanctions, including the suspension of trading, ineligibility for future listing on one of the Nasdaq Stock Markets or national securities exchanges, and the inability of registered broker-dealers to make a market in our Common Stock, which may reduce our stock price.

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<div align='center'>USE OF PROCEEDS</div>

We estimate that the net proceeds from this offering will be approximately $2.7 million after deducting the Placement Agent fees and estimated offering expenses payable by us. The combined public offering price per share of Common Stock (or Pre-Funded Warrant) and accompanying May 2025 Warrants will be fixed for the duration of this offering.

These estimates exclude the proceeds, if any, from the exercise of May 2025 Warrants issued in this offering. If all of the May 2025 Warrants issued in this offering were to be exercised in cash at an exercise price of $0.352 per share of Common Stock (equal to 110% of the combined offering price per Share and accompanying May 2025 Warrant), assuming no adjustment to the shares underlying the May 2025