Company: BFRG
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001493152-25-010367
Chunk: 1359

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 16
Chunk 1359
---
 561,885  
     697,534 
  
    Payments of short term insurance financing 
     (561,885) 
     (697,534)
  
    Net cash provided by financing activities 
     8,421,502  
     8,568,359 

    Net increase in cash and cash equivalents 
     2,811,253  
     2,567,060 
  
    Cash and cash equivalents, beginning of period 
     2,624,730  
     57,670 
  
    Cash and cash equivalents, end of period 
    $5,435,983  
    $2,624,730 

    Supplemental cash flow information: 

    Cash paid for interest 
    $18,158  
    $93,916 
  
    Cash paid for taxes 
     -  
     - 

    Supplemental non-cash activity 

    Issuance of common stock upon conversion of notes payable 
    $-  
    $1,535,615 

The
accompanying notes are an integral part of these consolidated financial statements.

 F-6 

BULLFROG
AI HOLDINGS, INC.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

December
31, 2024 and 2023

 1. Organization and Nature of Business

Description
of Business

Bullfrog
AI Holdings, Inc. (“we”, “our” or the “Company”) was incorporated in the State of Nevada on February
6, 2020. Bullfrog AI Holdings, Inc. is the parent company of Bullfrog AI, Inc. and Bullfrog AI Management, LLC, which were incorporated
in Delaware and Maryland, in 2017 and 2021, respectively. All the Company’s operations are currently conducted through Bullfrog
AI Holdings, Inc., which began operations on February 6, 2020. The Company is focused specifically on advanced AI/ML-driven analysis
of complex data sets in medicine and healthcare. The Company’s objective is to utilize its AI/ML platform to provide a precision
medicine approach to drug asset enablement through external partnerships and selective internal development.

Most
new therapeutics will fail at some point in preclinical or clinical development. These failures are the primary drivers for the high
cost of developing new therapeutics. A major part of the difficulty in developing new therapeutics is efficient integration of