Company: BFRG
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023496
Chunk: 20

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 20
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 30, 2025 
     866,412  
    $3.51  
     8.4  
    $- 
  
    Vested at September 30, 2025 
     601,520  
    $3.98  
     8.1  
    $- 

    12

    Number of Shares  
    Weighted-
Average Exercise 
Price  
    Weighted-
Average 
Remaining 
Contractual Term 
(Years)  
    Aggregate 
Intrinsic Value 
  
    Outstanding at December 31, 2023 
     527,717  
    $4.17  
     9.0  
    $112,141 
  
    Granted 
     368,000  
    $3.71  

    Exercised 
     -  
    $-  

    Forfeited / canceled 
     (46,290) 
    $3.95  

    Outstanding at September 30, 2024 
     849,427  
    $3.98  
     8.7  
    $25,652 
  
    Vested at September 30, 2024 
     449,434  
    $4.06  
     8.3  
    $16,837 

The
fair value of options granted during the nine months ended September 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  

    Nine Months Ended September 30, 

    2025  
    2024 
  
    Expected dividend yield 
     0% 
     0%
  
    Expected volatility 
     94% - 97%  
     92% - 97% 
  
    Risk-free interest rate 
     3.8% - 4.5%  
     3.5% - 4.4% 
  
    Expected life (in years) 
     5.5  
     5.3 - 6.0 

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

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