Company: BFRG
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023560
Chunk: 17

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 17
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 2024 
     830,925  
    $4.04  
     8.9  
    $- 
  
    Vested at June 30, 2024 
     405,102  
    $4.03  
     8.5  
    $- 

    11

The
fair value of options granted in the six months ended June 30, 2025 and 2024 was estimated using the Black-Scholes option pricing model
based on the assumptions in the table below: 

 Schedule of Black Scholes Option Pricing Model  

    Six Months Ended June 30, 

    2025  
    2024 
  
    Expected dividend yield 
     0% 
     0%
  
    Expected volatility 
     94% - 96%  
     92%
- 96% 
  
    Risk-free interest rate 
     4.0% - 4.5%  
     4.0% - 4.4% 
  
    Expected life (in years) 
     5.5  
     5.25
- 6.0 

●Volatility
                                            – The trading volatility was determined by calculating the volatility of the Company’s
                                            peer group.

●Expected
                                            life of options – The expected life of options granted to employees was determined
                                            using the simplified method.

●Risk-free
                                            interest rate – This is the U.S. Treasury rate, having a term comparable to the
                                            expected life of the stock option.

●Dividend
                                            yield – The Company does not expect to pay a dividend in the foreseeable future.

The
weighted-average grant-date fair value of options granted during the six months ended June 30, 2025 and 2024 was $1.67 and $2.94, respectively.

During
the three and six months ended June 30, 2025, the Company recognized $177,905 and $478,193, respectively, of compensation expense related
to stock options. During the three and six months ended June 30, 2024, the Company recognized $191,772 and $524,791, respectively, of
compensation expense related to stock options.

As
of June 30, 2025, the total unrecognized compensation expense related to unvested stock options was approximately $238,000, which the
Company expects to recognize over a