10-K Filing

BULLFROG AI HOLDINGS, INC. CIK: 1829247 FY 2023

Filing Information

Form Type	10-K
Accession Number	`0001493152-24-011964`
Period End Date	20231231
Filing Date	20240329
Fiscal Year	2023
Fiscal Period	FY
XBRL Instance	form10-k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 43 Income Statement 36 Cash Flow Statement 70 Stockholders Equity 23

Balance Sheet 43 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.62M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$57.67K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$145.88K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$15.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$72.67K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.77M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	4.02M	shares	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	6.09M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$5.97K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$7.70K	USD	Point-in-time
Total assets	`Assets`	$80.37K	USD	Point-in-time
Total assets	`Assets`	$2.78M	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	4.02M	shares	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	6.09M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$103.66K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$543.99K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$982.99K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$80.69K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	-	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$32.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$184.35K	USD	Point-in-time
Total liabilities	`Liabilities`	$184.35K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.14M	USD	Point-in-time
Series A Convertible Preferred stock, $0.00001 par value, 5,500,000 shares authorized; 73,449 shares issued and outstanding, as of December 31, 2023 and 2022.	`PreferredStockValue`	$1.00	USD	Point-in-time
Series A Convertible Preferred stock, $0.00001 par value, 5,500,000 shares authorized; 73,449 shares issued and outstanding, as of December 31, 2023 and 2022.	`PreferredStockValue`	$1.00	USD	Point-in-time
Common stock, $0.00001 par value, 100,000,000 shares authorized; 6,094,644 and 4,021,935 shares issued and outstanding as of December 31, 2023 and 2022, respectively.	`CommonStockValue`	$40.00	USD	Point-in-time
Common stock, $0.00001 par value, 100,000,000 shares authorized; 6,094,644 and 4,021,935 shares issued and outstanding as of December 31, 2023 and 2022, respectively.	`CommonStockValue`	$61.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.34M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$12.35M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.40M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.75M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-3.06M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-1.01M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$2.59M	USD	Point-in-time
Total liabilities and stockholders equity (deficit)	`LiabilitiesAndStockholdersEquity`	$2.78M	USD	Point-in-time
Total liabilities and stockholders equity (deficit)	`LiabilitiesAndStockholdersEquity`	$80.37K	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Revenue, net Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$65.00K	USD	Annual
Revenue, net Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$10.00K	USD	Annual
Total revenue	`Revenues`	$65.00K	USD	Annual
Total revenue	`Revenues`	$10.00K	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$5.20K	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$800.00	USD	Annual
Total cost of goods sold	`CostOfRevenue`	$800.00	USD	Annual
Total cost of goods sold	`CostOfRevenue`	$5.20K	USD	Annual
Gross profit	`GrossProfit`	$9.20K	USD	Annual
Gross profit	`GrossProfit`	$59.80K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$1.43M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$609.27K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.86M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$3.99M	USD	Annual
Total operating expenses	`OperatingExpenses`	$5.43M	USD	Annual
Total operating expenses	`OperatingExpenses`	$2.47M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-5.37M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-2.46M	USD	Annual
Interest expense, net	`InterestExpense`	$347.14K	USD	Annual
Interest expense, net	`InterestExpense`	$79.09K	USD	Annual
Loss on conversion of notes	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Loss on conversion of notes	`GainsLossesOnExtinguishmentOfDebt`	$-92.96K	USD	Annual
Interest income	`OtherNonoperatingIncome`	$459.00	USD	Annual
Interest income	`OtherNonoperatingIncome`	$183.70K	USD	Annual
Total other income (expense), net	`NonoperatingIncomeExpense`	$-346.69K	USD	Annual
Total other income (expense), net	`NonoperatingIncomeExpense`	$11.65K	USD	Annual
Net loss	`NetIncomeLoss`	$-5.36M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.80M	USD	Annual
Net loss per common share attributable to common stockholders basic	`EarningsPerShareBasic`	$-0.70	USD	Annual
Net loss per common share attributable to common stockholders basic	`EarningsPerShareBasic`	$-0.89	USD	Annual
Net loss per common share attributable to common stockholders diluted	`EarningsPerShareDiluted`	$-0.89	USD	Annual
Net loss per common share attributable to common stockholders diluted	`EarningsPerShareDiluted`	$-0.70	USD	Annual
Weighted average number of shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.01M	shares	Annual
Weighted average number of shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	6.05M	shares	Annual
Weighted average number of shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.05M	shares	Annual
Weighted average number of shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.01M	shares	Annual

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-5.36M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.80M	USD	Annual
Depreciation	`Depreciation`	$1.73K	USD	Annual
Depreciation	`Depreciation`	$1.04K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$340.15K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$631.53K	USD	Annual
Shares issued for license	`IssuanceOfStockForLicense`	-	USD	Annual
Shares issued for license	`IssuanceOfStockForLicense`	$189.83K	USD	Annual
Shares issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	Annual
Shares issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$50.00K	USD	Annual
Loss on conversion of notes	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Loss on conversion of notes	`GainsLossesOnExtinguishmentOfDebt`	$-92.96K	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$214.43K	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$20.00K	USD	Annual
Imputed interest	`ReceivablesWithImputedInterestAmount`	-	USD	Annual
Imputed interest	`ReceivablesWithImputedInterestAmount`	$-9.22K	USD	Annual
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$130.88K	USD	Annual
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$15.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$475.40K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-440.34K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-838.43K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$373.27K	USD	Annual
Accrued expenses - related party	`IncreaseDecreaseInAccruedExpensesRelatedParties`	-	USD	Annual
Accrued expenses - related party	`IncreaseDecreaseInAccruedExpensesRelatedParties`	$281.25K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$22.00K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-32.00K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-910.89K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.00M	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.74K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.74K	USD	Annual
Proceeds from issuance of common stock (initial public offering), net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Proceeds from issuance of common stock (initial public offering), net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$7.29M	USD	Annual
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$1.49M	USD	Annual
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$1.49M	USD	1 Quarter
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	-	USD	Annual
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$1.02M	USD	Annual
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	-	USD	Annual
Proceeds from notes payable	`ProceedsFromNotesPayable`	-	USD	Annual
Proceeds from notes payable	`ProceedsFromNotesPayable`	$100.00K	USD	Annual
Payments of notes payable	`RepaymentsOfNotesPayable`	$319.95K	USD	Annual
Payments of notes payable	`RepaymentsOfNotesPayable`	-	USD	Annual
Repayment of note payable and interest - related party	`RepaymentsOfRelatedPartyDebt`	$49.00K	USD	Annual
Repayment of note payable and interest - related party	`RepaymentsOfRelatedPartyDebt`	-	USD	Annual
Proceeds from short term insurance financing	`ProceedsFromOtherShortTermDebt`	$697.53K	USD	Annual
Payments of short term insurance financing	`RepaymentsOfOtherShortTermDebt`	$697.53K	USD	Annual
Payments of short term insurance financing	`RepaymentsOfOtherShortTermDebt`	-	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$967.29K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$8.57M	USD	Annual
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$47.66K	USD	Annual
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.57M	USD	Annual
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.62M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.01K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$57.67K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.62M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.01K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$57.67K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$93.92K	USD	Annual
Cash paid for interest	`InterestPaidNet`	$5.76K	USD	Annual
Cash paid for taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Cash paid for taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Reclassification of warrant	`ReclassificationOfWarrant`	$11.10K	USD	Annual
Reclassification of warrant	`ReclassificationOfWarrant`	-	USD	Annual
Issuance of common stock upon conversion of notes payable	`NotesAssumed1`	$1.54M	USD	Annual
Issuance of common stock upon conversion of notes payable	`NotesAssumed1`	-	USD	Annual
Conversion of convertible note payable	`DebtConversionConvertedInstrumentAmount1`	-	USD	Annual
Conversion of convertible note payable	`DebtConversionConvertedInstrumentAmount1`	$226.14K	USD	Annual
Cancellation of common stock	`CancellationOfCommonStock`	-	USD	Annual
Cancellation of common stock	`CancellationOfCommonStock`	$8.00	USD	Annual

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-3.06M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.01M	USD	Point-in-time
Balance	`StockholdersEquity`	$2.59M	USD	Point-in-time
Imputed interest	`AdjustmentsToAdditionalPaidInCapitalOther`	$9.22K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$631.53K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$340.15K	USD	Annual
Reclassification of warrant	`AdjustmentsToAdditionalPaidInReclassificationsOfWarrant`	$-11.10K	USD	Annual
Conversion of convertible debt to common stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$226.14K	USD	Annual
Conversion of convertible debt to common stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$1.54M	USD	Annual
Shares cancellation	`StockRedeemedOrCalledDuringPeriodValue`	-	USD	Annual
Issuance of common stock pursuant to warrant exercises	`StockIssuedDuringPeriodValueOther`	$1.49M	USD	Annual
Issuance of common stock pursuant to warrant exercises	`StockIssuedDuringPeriodValueOther`	$189.83K	USD	Annual
Issuance of common stock pursuant to warrant exercises, shares	`StockIssuedDuringPeriodSharesOther`	436,533.00	shares	1 Quarter
Common stock converted to Series A Preferred Stock	`StockIssuedDuringPeriodValueConversionOfUnits`	-	USD	Annual
Net loss	`NetIncomeLoss`	$-5.36M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.80M	USD	Annual
Issuance of common stock (initial public offering), net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$7.29M	USD	Annual
Issuance of common stock for services	`StockIssuedDuringPeriodValueIssuedForServices`	$50.00K	USD	Annual
Issuance of common stock for services	`StockIssuedDuringPeriodValueIssuedForServices`	$50.00K	USD	Point-in-time
Issuance of common stock for services, shares	`StockIssuedDuringPeriodSharesIssuedForServices`	7,692.00	shares	Point-in-time
Balance	`StockholdersEquity`	$-3.06M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.01M	USD	Point-in-time
Balance	`StockholdersEquity`	$2.59M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.