Company: BFRG
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023496
Chunk: 40

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 40
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 not currently meet. In accordance with Nasdaq rules,
the Company had 45 calendar days, or until October 6, 2025, to submit a plan to regain compliance. After submitting the plan to regain
compliance, on October 7, 2025, Nasdaq granted the Company an extension until February 17, 2026, to comply with Listing Rule 5550(b)(1).
The Company is taking steps in accordance with its plan to regain and evidence compliance with the Stockholders’ Equity Rule or
meet the alternative compliance standards, but there can be no assurance that the Company will regain compliance.

23

Consolidated
Cash Flow Data

    Nine Months Ended September 30,  

    2025  
    2024  
    Change 
  
    Net cash (used in) provided by 

    Operating activities 
    $(4,337,270) 
    $(4,338,214) 
    $944 
  
    Investing activities 
     -  
     -  
     - 
  
    Financing activities 
     996,999  
     5,952,472  
     (4,955,473)
  
    Net (decrease) increase in cash and cash equivalents 
    $(3,340,271) 
    $1,614,258  
    $(4,954,529)

Cash
Flows Used in Operating Activities 

Net
cash used in operating activities for the nine months ended September 30, 2025 was materially unchanged compared to the same period ended
September 30, 2024 primarily due to the reduction in our prepaid director and officer insurance policy premium offset by payments of
vendor payables.

Cash
Flows Used in Investing Activities 

There
was no cash used in investing activities during the nine months ended September 30, 2025 or 2024.

Cash
Flows Provided by Financing Activities

Net
cash provided by financing activities for the nine months ended September 30, 2025 decreased compared to the same period of 2024 primarily
due to proceeds from our secondary offering and warrant exercises in 2024 along with a reduction in our director and officer insurance
policy premium financing partially offset by proceeds from sales of common stock under our ATM Agreement.

Item 3.
Quantitative and Qualitative Disclosures about Market Risk

As
a smaller reporting company, this disclosure is not required.

Item 4.
Controls and Procedures

Evaluation