Company: BFRG
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023560
Chunk: 9

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 9
---
.

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 consolidated statements are unaudited and should be read in conjunction with the consolidated financial statements and related
notes included in the Company’s 2024 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 14,
2025. The unaudited condensed consolidated financial statements have been prepared on a basis consistent with the audited annual consolidated
financial statements included in the Form 10-K and, in the opinion of management, include all adjustments of a normal recurring nature
necessary to fairly state its financial position, results of operations, and cash flows.

The
results for the six months ended June 30, 2025 are not necessarily indicative of the operating results expected for the year ending December
31, 2025 or any other future period.

Segment
Reporting

The
Company’s chief operating decision maker (“CODM”) is the Company’s Chief Executive Officer. The CODM is assisted
in his responsibilities of making decisions regarding resource allocation and performance assessment by the leadership team, consisting
of executives and vice presidents.

The
Company views its operations and manages its business as one operating segment, focused on advancing drug development using AI/ML to
analyze complex data sets in medicine and healthcare. Segment profit or loss is measured as the Company’s net loss as reported
on the Company’s Statement of Operations. The Company monitors its cash and cash equivalents, as reported on the Company’s
Balance Sheets, to determine funding for its research and development.

    7

The
CODM assesses Company performance through the achievement of target identification goals. In addition to the Company’s Statement
of Operations, the CODM is regularly provided with budgeted and forecasted expense information which is used to determine the Company’s
liquidity needs and cash allocation.

Revenue
Recognition 

The