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

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 11
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 September 30, 2025.

Basis
of Presentation

The
accompanying unaudited condensed consolidated financial statements include the accounts of BullFrog AI Holdings, Inc. and its wholly
owned subsidiaries and have been prepared in conformity with United States generally accepted accounting principles (“GAAP”)
for interim financial information. All intercompany accounts and transactions have been eliminated in consolidation.

The
condensed consolidated statements are unaudited and should be read in conjunction with the consolidated financial statements and related
notes included in the Company’s 2024 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 14,
2025. The unaudited condensed consolidated financial statements have been prepared on a basis consistent with the audited annual consolidated
financial statements included in the Form 10-K and, in the opinion of management, include all adjustments of a normal recurring nature
necessary to fairly state its financial position, results of operations, and cash flows.

    7

The
results for the nine months ended September 30, 2025 are not necessarily indicative of the operating results expected for the year ending
December 31, 2025 or any other future period.

Segment
Reporting

The
Company’s chief operating decision maker (“CODM”) is the Company’s Chief Executive Officer. The CODM is assisted
in his responsibilities of making decisions regarding resource allocation and performance assessment by the leadership team, consisting
of executives and vice presidents.

The
Company views its operations and manages its business as one operating segment, focused on advancing drug development using AI/ML to
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.

The
CODM assesses Company performance through the achievement of revenue, cost optimization, and 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