Company: BFRG
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023560
Chunk: 62

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 62
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 for at least a year beyond the filing date of the unaudited condensed consolidated financial statements. This factor as well as other factors
raise substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern
is dependent upon the Company obtaining the necessary financing or revenues to meet its obligations arising from normal business
operations when they become due.

Accordingly,
we will require additional capital to continue to execute our strategy. We anticipate raising this additional capital through various
avenues including sales of equity securities, debt transactions, licensing agreements and collaborative arrangements. Although management
believes that such funding sources will be available, including pursuant to the Company’s at-the-market common stock sales facility under our ATM Agreement, there can be no assurance that any such
arrangements will provide sufficient capital when needed to allow us to continue our operations, or if available, be on terms acceptable
to us. If we do not raise sufficient funds in a timely manner, among other things, we may be forced to delay, scale back or eliminate
some or all our research and product development programs and/or our capital expenditures or enter into arrangements on unfavorable terms.
We currently do not have commitments for future funding from any source.

Our
Strategy 

The
Company has a unique strategy designed to reduce risk and increase the frequency of cash flow. The first part of the strategy is to generate
revenues through strategic relationships with biopharma companies. These relationships will be structured as a combination of fees in
cash, equity, or other consideration and intellectual property based on the specific scope of the engagement. The objective of these
engagements will be to uncover valuable insights to reduce the risk and increase the speed of the drug development process which can
be achieved through manual or automated integration into the client’s workflow or analysis of discrete data sets.

In
the future, the second part of our strategy involves acquiring the rights to drugs at various stages of development and using our proprietary
AI/ML technology to advance the development of such drugs, with the objective of creating near term value and then exiting and monetizing
as quickly as possible, preferably within approximately 30 months.

Critical
Accounting Policies and Estimates

Our
financial statements are prepared in accordance with U.S. GAAP. The preparation of these financial statements requires us to make estimates
and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, as well as related disclosures. We evaluate
our estimates and assumptions on an ongoing basis. Our estimates are based