Company: BFRG
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023496
Chunk: 55

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 55
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June 2025, the Company entered into a strategic collaboration with Sygnature Discovery (“Sygnature”), a UK-based contract
research organization specializing in drug discovery. Under this collaboration, Sygnature will introduce BullFrog Data Networks™,
the Company’s proprietary AI-driven data insights platform powered by the bfLEAP™ engine, to Sygnature’s global biopharma
client base. Any commercial terms for the marketing collaboration will be agreed by the parties in a subsequent agreement. The Company has not yet recognized any revenue under this collaboration. 

The
Company currently has no other revenue agreements. Additionally, the Company has no contract assets or contract costs at September 30,
2025.

5.Notes
                                            Payable

In
February 2025, the Company entered into an agreement to finance a portion of the premium for its directors and officers insurance policy
for the policy period of February 2025 through February 2026. The agreement provides for financing of $181,797 of the premium, which
financing will be repaid in 10 equal monthly installments of $18,743 each through December 2025 and accrues interest at 6.70%.

6.Stockholders’
                                            Equity

Preferred
Stock

The
Company has 10,000,000 shares of preferred stock authorized at a par value of $0.00001 with 5,500,000 being designated as Series A Convertible
Preferred Stock. Of the 5,500,000 authorized shares of Series A Convertible Preferred Stock, 73,449 were issued and outstanding as of
September 30, 2025. Each share of Series A Convertible Preferred Stock is convertible at any time into 10 shares of the Company’s
common stock. The Series A Preferred Stock is the economic equivalent of the common stock but has no voting rights and is subject to
a blocker which prohibits the conversion into common stock if it would result in the investor owning more than 4.99% of the Company’s
outstanding common stock at such time.

    10

Common
Stock

The
Company has 100,000,000 shares of common stock authorized at a par value of $0.00001.

In
February 2024, the Company received approximately $6.5 million of gross proceeds from the sale of 1,247,092 shares of common stock, 478,429
pre-funded warrants and 1,725,521 common warrants (each share of