Company: BFRG
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001493152-25-010367
Chunk: 463

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 3
Chunk 463
---
    Plan Category 
    Number
                                            of securities to be issued upon exercise of outstanding options, warrants and rights (a)  
    Weighted-average
                                            exercise price of outstanding options, warrants and rights (b)  
    Number of securities remaining available
    for future issuance under equity compensation plans (excluding securities reflected in column (a)) 
  
    Equity compensation plans approved by security holders 
     763,514  
    $4.04  
     150,682 
  
    Equity compensation plans not approved by security holders 
     747,376  
    $1.69  
     0 
  
    Total 
     1,510,890  
    $2.88  
     150,682 

 40 

ITEM
13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 

Other
than with respect to compensation arrangements, including employment, and indemnification arrangements, discussed in this Annual Report
on Form 10-K, there have been no transactions since January 1, 2023, in which the amount involved in the transaction exceeded or will
exceed the lesser of $120,000 or one percent of the average of our total assets as at the year-end for the last two completed fiscal
years, and to which any of our directors, executive officers or beneficial holders of more than 5% of our capital stock, or any immediate
family member of, or person sharing the household with, any of these individuals, had or will have a direct or indirect material interest.

In
July 2021, the Company entered into a Simple Agreement for Future Equity (SAFE) with a related party, Tivoli Trust (the “Investor”),
for an amount of $150,000, with 0% interest. Under the SAFE agreement, if there is an Equity Financing before the termination of this
SAFE, on the initial closing of such Equity Financing, this SAFE will terminate and automatically convert into shares of common stock.
Upon the closing of the Company’s IPO in February 2023, the SAFE terminated and converted into 32,967 shares of common stock according
to its terms. The conversion was considered a redemption for accounting purposes and consequently, the Company recognized a $63,626 loss
on the conversion.

In
August 2021, the Company entered into a convertible loan agreement with a related party in the amount of $99,900 at 9% interest