Company: BFRG
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023496
Chunk: 23

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 23
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    $384,708 
  
    Vested at September 30, 2025 
     664,724  
    $1.55  
     4.9  
    $383,958 

     Number of 
Warrants  
     Weighted-
Average Exercise 
Price  
     Weighted-
Average 
Remaining 
Contractual 
Term (Years)  
     Aggregate 
Intrinsic Value 
  
    Outstanding at December 31, 2023 
     678,176  
    $1.57  
     6.6  
    $1,209,136 
  
    Granted 
     -  
    $-  

    Exercised 
     (14,285) 
    $2.66  

    Forfeited / canceled 
     -  
    $-  

    Outstanding at September 30, 2024 
     663,891  
    $1.55  
     5.8  
    $964,513 
  
    Vested at September 30, 2024 
     663,891  
    $1.55  
     5.8  
    $964,513 

During
the three and nine months ended September 30, 2025, the Company recognized $792 of compensation expense related to certain warrants.
During the three and nine months ended September 30, 2024, the Company recognized $0 and $3,007, respectively, of compensation expense
related to certain warrants. 

As
of September 30, 2025, there was $3,958 of unrecognized compensation expense related to unvested warrants.

7.Income
                                            Taxes

The
Company has not recorded any tax provision or benefit for the nine months ended September 30, 2025 and 2024. The Company has provided
a valuation allowance for the full amount of its net deferred tax assets since realization of any future benefits from deductible temporary
differences, net operating losses, credit carryforwards, and research and development credits are not more-likely-than-not to be realized
at September 30, 2025 and December 31, 2024.

8.Material
                                            Agreements

JHU-APL
Technology License 

In
February 2018, the Company entered into an exclusive, world-wide, royalty-bearing license with JHU-AP