Company: BFRG
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023560
Chunk: 42

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 42
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 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.

The
results for the six months ended June 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.

    7

The
CODM assesses 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.

●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