Company: BFRG
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023560
Chunk: 19

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 19
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 $1.55  
     5.1  
    $413,980 
  
    Vested at June 30, 2025 
     663,891  
    $1.55  
     5.1  
    $413,980 

    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 June 30, 2024 
     663,891  
    $1.55  
     6.1  
    $474,323 
  
    Vested at June 30, 2024 
     663,891  
    $1.55  
     6.1  
    $474,323 

During
the three and six months ended June 30, 2025, the Company did not recognize any compensation expense related to warrants issued as consideration
for services. During the three and six months ended June 30, 2024, the Company recognized $610 and $3,007, respectively, of compensation
expense related to warrants issued as consideration for services.

As
of June 30, 2025, there was no unrecognized compensation expense as no unvested warrants issued as consideration for services remain.

    13

7.
Income Taxes 

The
Company has not recorded any tax provision or benefit for the six months ended June 30, 2025 or 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 June
30, 2025 and December 31, 2024.

8.
Material Agreements

JHU-APL
Technology License

In
February 2018, the Company entered into an exclusive,