Company: BFRG
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001493152-25-010367
Chunk: 548

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 4
Chunk 548
---
    Cash and cash equivalents, beginning of period 
     2,624,730  
     57,670 
  
    Cash and cash equivalents, end of period 
    $5,435,983  
    $2,624,730 

    Supplemental cash flow information: 

    Cash paid for interest 
    $18,158  
    $93,916 
  
    Cash paid for taxes 
     -  
     - 

    Supplemental non-cash activity 

    Issuance of common stock upon conversion of notes payable 
    $-  
    $1,535,615 

The
accompanying notes are an integral part of these consolidated financial statements.

 F-6 

BULLFROG
AI HOLDINGS, INC.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

December
31, 2024 and 2023

 1. Organization and Nature of Business

Description
of Business

Bullfrog
AI Holdings, Inc. (“we”, “our” or the “Company”) was incorporated in the State of Nevada on February
6, 2020. Bullfrog AI Holdings, Inc. is the parent company of Bullfrog AI, Inc. and Bullfrog AI Management, LLC, which were incorporated
in Delaware and Maryland, in 2017 and 2021, respectively. All the Company’s operations are currently conducted through Bullfrog
AI Holdings, Inc., which began operations on February 6, 2020. The Company is focused specifically on advanced AI/ML-driven analysis
of complex data sets in medicine and healthcare. The Company’s objective is to utilize its AI/ML platform to provide a precision
medicine approach to drug asset enablement through external partnerships and selective internal development.

Most
new therapeutics will fail at some point in preclinical or clinical development. These failures are the primary drivers for the high
cost of developing new therapeutics. A major part of the difficulty in developing new therapeutics is efficient integration of complex
and highly dimensional data generated at each stage of development to de-risk subsequent stages of the development process. Artificial
intelligence and machine learning (“AI/ML”) has emerged as a digital solution to help address this problem.

The
Company uses artificial intelligence and machine learning to advance medicines for both internal and external projects. Most current
AI/ML platforms still fall short in their ability to synthesize disparate, high-dimensional data for actionable insight. The