Company: BFRG
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001641172-25-009946
Chunk: 33

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 8
Chunk 33
---
 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 entered into with BTIG, LLC in April 2025, there can be no assurance that any such arrangements will be consummated
or 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 to 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 the Annual Report on Form 10-K for the fiscal year ended December 31, 2024 have not materially changed during
the three months ended March 31, 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