Company: BIAF
Filing Date: 2025-04-22
Form Type: 424B3
Source: 0001641172-25-005598
Chunk: 18

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-04-22
Form: 424B3
Chunk 18
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PLS’ services. Once we begin to generate such profit, there is no guarantee that it will be sufficient to realize
the expected financial benefits of the acquisition and that revenue generated will cover necessary operating expenses. In addition, since
we have limited experience operating a clinical laboratory, we may not accurately estimate the expenses we will incur. Ownership of a
CAP/CLIA laboratory and related services business may not have the clinical value and commercial potential which we envision. Any substantive
failure of PPLS laboratory to meet our expectations could have a material negative effect on our results of operations. There can be no
assurance that the anticipated benefits of PPLS will materialize or that if they materialize will result in increased stockholder value
or revenue stream to the combined company.

We will require additional financing to implement our business plan, which may not be available on favorable terms or at all, and we may have to accept financing terms that would place restrictions on us.

We believe that we must raise additional funds to
be able to continue our business operations. We may not be able to obtain equity or debt financing on acceptable terms or at all to implement
our growth strategy. As a result, adequate capital may not be available to finance our current development plan, take advantage of business
opportunities, or respond to competitive pressures. If we are unable to raise additional funds or a sufficient amount of funds in this
offering or other offerings, we may be forced to curtail or even abandon our business plan and focus on fewer commercial opportunities
that may result in more limited growth than forecast.

Until such time, if ever, as we can generate substantial
income from sale of our diagnostic test(s) and therapeutic product candidates, we expect to finance our cash needs through a combination
of equity offerings, debt financings, and license and collaboration agreements. To the extent that we raise additional capital through
the sale of equity or convertible debt securities, the ownership interest of existing stockholders will be diluted, and the terms of these
securities may include liquidation or other preferences that adversely affect the rights of the holders of our Common Stock (the “Common
Stockholders”). In addition, the terms of any future financing may impose restrictions on our right to declare dividends or on the
manner in which we conduct our business. Debt financing and preferred equity financing, if available, may involve agreements that include
covenants limiting or restricting our ability to take specific actions, such as incurring additional debt, making capital expenditures,
declaring