Company: BFRG
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001493152-25-010367
Chunk: 1333

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 15
Chunk 1333
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analyze complex data sets in medicine and healthcare. Segment profit or loss is measured as the Company’s net loss as reported
on the Company’s Statement of Operations. The Company monitors its cash and cash equivalents, as reported on the Company’s
Balance Sheets, to determine funding for its research and development.

As
the Company did not generate revenues in 2024, the CODM assessed Company performance through the achievement of target identification
goals. In addition to the Company’s Statement of Operations, the CODM is regularly provided with budgeted and forecasted expense
information which is used to determine the Company’s liquidity needs and cash allocation.

Revenue
Recognition 

The
Company recognizes revenue based on the following five step model:

●Identification
                                            of the contract with a customer

This
step outlines the criteria that must be met when establishing a contract with a customer to supply goods or services.

●Identification
                                            of the performance obligations in the contract

This
step describes how distinct performance obligations in the contract must be handled.

     F-8 

●Determination
                                            of the transaction price

This
step outlines what must be considered when establishing the transaction price, which is the amount the business expects to receive for
transferring the goods and services to the customer.

●Allocation
                                            of the transaction price to the performance obligations in the contract

This
step outlines guidelines for allocating the transaction price across the contract’s separate performance obligations, and is what
the customer agrees to pay for the goods and services.

●Recognition
                                            of revenue when, or as, the Company satisfies a performance obligation

Revenue
can be recognized as the business meets each performance obligation. This step specifies how that should happen.

Contract Services

The
Company anticipates that the majority of its revenues to be recognized in the near future will result from discovery and monetization
of new drug targets and intellectual property from data use partnerships focused on analysis of rich proprietary data sets. The target
market for monetization will primarily be mid-size to large biopharmaceutical organizations seeking to build their new drug target pipeline.
A secondary revenue channel is fee for service partnerships with biopharmaceutical companies and other organizations of all sizes that
have challenges analyzing data throughout the drug development process. The Company provides the customer with an analysis of large complex
data sets using the Company’s proprietary AI/ML platform. This platform is aimed at predicting targets of interest, patterns, relationships,
anomalies, and molecular drivers of disease. The Company believes that there will be additional