Company: BFRG
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001641172-25-009946
Chunk: 54

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 8
Chunk 54
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-The-Market
Sales Agreement to fund planned operations.

Consolidated
Cash Flow Data

    Three Months Ended March 31,  

    2025  
    2024  
    Change 
  
    Net cash (used in) provided by 

    Operating activities 
    $(1,798,125) 
    $(1,901,634) 
    $103,509 
  
    Investing activities 
     -  
     -  
     - 
  
    Financing activities 
     164,070  
     6,287,621  
     (6,123,551)
  
    Net (decrease) increase in cash and cash equivalents 
    $(1,634,055) 
    $4,385,987  
    $(6,020,042)

Cash
Flows Used in Operating Activities

Net
cash used in operating activities for the three months ended March 31, 2025 decreased compared to the same period ended March 31, 2024
primarily due to the decrease in our D&O insurance premium, partially offset by increased operating costs in 2025.

Cash
Flows Used in Investing Activities

There
was no cash used in investing activities during the three months ended March 31, 2025 or 2024.

Cash
Flows (Used in) Provided by Financing Activities

Net
cash provided by financing activities for the three months ended March 31, 2025 decreased compared to the same period ended March 31,
2024 primarily due to proceeds from our secondary offering in February 2024 and a reduction in our D&O insurance premium financing.

Item
3. Quantitative and Qualitative Disclosures about Market Risk

As
a smaller reporting company, this disclosure is not required.

19

Item
4. Controls and Procedures

Evaluation
of Disclosure Controls and Procedures

We
are required to maintain “disclosure controls and procedures” as such term is defined in Rule 13a-15(e) under the Securities
Exchange Act of 1934 (the “Exchange Act”). In designing and evaluating our disclosure controls and procedures, our management
recognized that disclosure controls and procedures, no matter how well conceived and operated, can provide only reasonable, not absolute,
assurance that the objectives of disclosure controls and procedures are met. The design of any disclosure controls and procedures is
also based, in part, upon certain assumptions about the likelihood of future events, and there