Company: BFRG
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023560
Chunk: 41

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 41
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 of June 30, 2025, the Company’s cash and cash equivalents position is not sufficient to fund
the Company’s planned operations 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.

    6

Accordingly,
the Company will require additional capital to continue to execute its strategy. The Company anticipates 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 provided by our ATM Agreement, there can be no assurance that any such arrangements will provide sufficient
capital when needed to allow the Company to continue its operations, or if available, be on terms acceptable to it. If the Company does
not raise sufficient funds in a timely manner, among other things, it may be forced to delay, scale back or eliminate some or all of
its research and product development programs and/or capital expenditures or enter into arrangements on unfavorable terms. The Company
currently does not have commitments for future funding from any source.

The
accompanying unaudited condensed consolidated financial statements have been prepared assuming that the Company will continue as a going
concern, which contemplates continuity of operations, realization of assets, and satisfaction of liabilities in the ordinary course of
business. Accordingly, these unaudited condensed consolidated financial statements do not include any adjustments that might result from
the outcome of this uncertainty.

2. Summary of Significant Accounting Policies

Other
than as noted below, the Company’s significant accounting policies as disclosed in the notes to its audited consolidated financial
statements included in its Annual Report on Form 10-K for the fiscal year ended December 31, 2024 have not materially changed during
the six months ended June 30, 2025.

Basis
of Presentation

The
accompanying unaudited condensed consolidated financial statements include the accounts of Bullfrog AI Holdings, Inc. and its wholly
owned subsidiaries and have been prepared in conformity with United States generally accepted accounting principles (“GAAP”)
for interim financial information. All intercompany accounts and transactions have been eliminated in consolidation.

The
condensed