Company: BFRG
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001493152-25-010367
Chunk: 442

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 3
Chunk 442
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 Net
    Change 

    2024  
    2023  

    Net cash (used in) provided by 

    Operating
    activities 
    $(5,610,249) 
    $(6,001,299) 
    $391,050 
  
    Investing activities 
     -  
     -  
     - 
  
    Financing
    activities 
     8,421,502  
     8,568,359  
     (146,857)
  
    Net increase in cash
    and cash equivalents 
    $2,811,253  
    $2,567,060  
    $244,193 

Cash Flows
Used in Operating Activities

Net
cash used in operating activities for the year ended December 31, 2024 decreased by approximately $391,000 compared to the same period
ended December 31, 2023 primarily due to paying down accrued expenses for technology access, consultants, and compensation in 2023, partially
offset by increased operating costs in 2024 primarily relating to increased personnel costs.

Cash Flows
Used in Investing Activities

There
was no cash used in investing activities during any of the periods presented.

Cash Flows
Provided by Financing Activities

Net
cash provided by financing activities for the year ended December 31, 2024 decreased by approximately $147,000, compared to the same
period ended December 31, 2023 primarily due to fewer proceeds from equity issuances in 2024 partially offset by payments of debt in
2023.

Critical
Accounting Policies

In
Note 2 of our Audited Financial Statements for the year ended December 31, 2024 found elsewhere in this Annual Report on Form 10-K, we
included a discussion of the most critical accounting policies used in the preparation of our financial statements. There has been no
material change in the policies and estimates used in the preparation of our financial statements since the completion of the 2024 audit.

Off-Balance
Sheet Arrangements

We
do not have any off-balance sheet arrangements, as such term is defined in Item 303(a)(4) of Regulation S-K.

 28 

Financial
Operations Overview

Revenue 

We
completed our first commercial service contract and recognized revenue in the amount of $65,000 in the third quarter of 2023. We did
not recognize any revenue in 2024.