Company: BFRG
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001493152-25-010367
Chunk: 220

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 1A
Chunk 220
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As
of December 31, 2024, the total unrecognized compensation expense related to unvested stock options was approximately $770,862 which
the Company expects to recognize over a weighted-average period of approximately 1.4 years. 

Warrants

The
following table provides details over the Company’s outstanding warrants including those issued as consideration for services and
those issued in conjunction with transactions as of December 31, 2024:

 Schedule
of Outstanding Warrants  

    Exercise Price 
    Expiration 
    Number of Warrants 
  
     $0.0001 
    N/A 
     302,398 
  
     $0.0007 
    2030 
     274,286 
  
     $2.00 - $2.66 
    2026 - 2032 
     2,164,179 
  
     $3.36 - $4.16 
    2028 - 2029 
     1,842,807 
  
     $6.51 - $7.80 
    2026 - 2032 
     1,484,829 
  
     $8.125 
    2028 
     1,443,227 

     7,511,726 

Warrants
Issued in Conjunction with Transactions

During
the year ended December 31, 2023, the Company issued the following warrants as part of the Company’s February 2023 IPO:

●276,452
                                            contingent warrants to certain debt holders with an exercise price of $4.27 and an expiration
                                            date 5 years from issuance. As of December 31, 2024, 204,033 warrants have been exercised
                                            and 72,419 remain outstanding. As a result of the February 2024 and October 2024 secondary
                                            offerings, the exercise price of the remaining outstanding warrants was initially reduced
                                            to $3.782 and subsequently to $2.00 pursuant to the anti-dilution provision contained in
                                            the warrants. The effect of the changes in price was recognized as deemed dividends of $28,245
                                            which increases net loss available to common stockholders for the year ended December 31,
                                            2024.

●18,000
                                            contingent warrants as fees to the Company’s underwriters with an exercise price of
                                            $8.125 and an expiration date 4 years