$BFRG
BullFrog AI Holdings, Inc.

2023 Q3 Form 10-Q Financial Statement

#000149315223028428 Filed on August 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $65.00K $0.00
YoY Change
Cost Of Revenue $5.200K $0.00
YoY Change
Gross Profit $59.80K $0.00
YoY Change
Gross Profit Margin 92.0%
Selling, General & Admin $980.0K $1.263M $682.0K
YoY Change 63.03% 85.25% 258.93%
% of Gross Profit 1638.8%
Research & Development $380.0K $273.7K $92.67K
YoY Change 864.02% 195.31%
% of Gross Profit 635.48%
Depreciation & Amortization $0.00 $430.00 $160.00
YoY Change -100.0% 168.75%
% of Gross Profit 0.0%
Operating Expenses $1.364M $1.537M $682.0K
YoY Change 112.93% 125.38% 258.93%
Operating Profit -$1.304M -$1.537M -$682.0K
YoY Change 103.6% 125.38% 258.93%
Interest Expense $5.758K $10.84K -$94.02K
YoY Change -104.64% -111.53%
% of Operating Profit
Other Income/Expense, Net $51.17K $56.57K $60.00
YoY Change 255730.0% 94186.67%
Pretax Income -$1.250M -$1.480M -$775.9K
YoY Change 63.46% 90.79% 308.38%
Income Tax
% Of Pretax Income
Net Earnings -$1.253M -$1.480M -$775.9K
YoY Change 63.85% 90.79% 308.38%
Net Earnings / Revenue -1927.66%
Basic Earnings Per Share -$0.21 -$0.24 -$0.17
Diluted Earnings Per Share -$0.21 -$0.24 -$0.14
COMMON SHARES
Basic Shares Outstanding 6.095M shares 6.087M shares 4.633M shares
Diluted Shares Outstanding 6.095M shares 6.056M shares 4.633M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.860M $5.460M $238.5K
YoY Change 9042.59% 2189.61%
Cash & Equivalents $3.856M $5.460M $238.5K
Short-Term Investments
Other Short-Term Assets $350.0K $575.6K $15.00K
YoY Change 2233.33% 3737.4%
Inventory
Prepaid Expenses $352.4K $575.6K
Receivables
Other Receivables
Total Short-Term Assets $4.208M $6.035M $253.5K
YoY Change 7254.89% 2281.21%
LONG-TERM ASSETS
Property, Plant & Equipment $6.406K $6.837K $8.580K
YoY Change -21.3% -20.31%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $6.406K $6.837K $8.580K
YoY Change -21.3% -20.31%
TOTAL ASSETS
Total Short-Term Assets $4.208M $6.035M $253.5K
Total Long-Term Assets $6.406K $6.837K $8.580K
Total Assets $4.215M $6.042M $262.0K
YoY Change 6348.71% 2205.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $110.5K $490.7K $101.3K
YoY Change -8.33% 384.56%
Accrued Expenses $122.3K $195.9K $698.7K
YoY Change -85.48% -71.96%
Deferred Revenue
YoY Change
Short-Term Debt $213.3K $423.1K $1.322M
YoY Change -85.63% -68.01% 3789.32%
Long-Term Debt Due $210.0K $423.1K
YoY Change
Total Short-Term Liabilities $446.1K $1.142M $2.154M
YoY Change -82.0% -47.01%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $446.1K $1.142M $2.154M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $450.0K $1.142M $2.154M
YoY Change -81.85% -47.01%
SHAREHOLDERS EQUITY
Retained Earnings -$8.458M -$7.205M
YoY Change
Common Stock $61.00 $61.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.769M $4.900M -$1.892M
YoY Change
Total Liabilities & Shareholders Equity $4.215M $6.042M $262.0K
YoY Change 6348.71% 2205.85%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$1.253M -$1.480M -$775.9K
YoY Change 63.85% 90.79% 308.38%
Depreciation, Depletion And Amortization $0.00 $430.00 $160.00
YoY Change -100.0% 168.75%
Cash From Operating Activities -$1.390M -$1.228M -$612.0K
YoY Change 436.2% 100.68% 1940.03%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $8.740K
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00 -$8.740K
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -210.0K 1.268M 849.2K
YoY Change -433.33% 49.34% 2730.63%
NET CHANGE
Cash From Operating Activities -1.390M -1.228M -612.0K
Cash From Investing Activities 0.000 0.000 -8.740K
Cash From Financing Activities -210.0K 1.268M 849.2K
Net Change In Cash -1.600M 40.05K 228.4K
YoY Change 715.37% -82.47%
FREE CASH FLOW
Cash From Operating Activities -$1.390M -$1.228M -$612.0K
Capital Expenditures $0.00 $0.00 $8.740K
Free Cash Flow -$1.390M -$1.228M -$620.8K
YoY Change 436.2% 97.85% 1969.17%

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NetCashProvidedByUsedInOperatingActivities
-3589511 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-612007 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8744 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-8744 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
7293651 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
1494658 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
898190 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
100000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
319950 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
49000 usd
us-gaap Proceeds From Other Short Term Debt
ProceedsFromOtherShortTermDebt
423051 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
8991410 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
849190 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
5401899 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
228439 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
57670 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10014 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5459569 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
238453 usd
us-gaap Interest Paid Net
InterestPaidNet
93916 usd
us-gaap Interest Paid Net
InterestPaidNet
4399 usd
BFRG Reclassification Of Warrant
ReclassificationOfWarrant
11097 usd
us-gaap Notes Assumed1
NotesAssumed1
1535615 usd
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
226138 usd
CY2021Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
49000 usd
CY2021Q4 us-gaap Short Term Debt Percentage Bearing Variable Interest Rate
ShortTermDebtPercentageBearingVariableInterestRate
0.05 pure
CY2021Q4 us-gaap Short Term Debt Interest Rate Increase
ShortTermDebtInterestRateIncrease
0.01 pure
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
69217 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.06
CY2023Q2 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
0 usd
CY2022Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
327666 usd
CY2023Q2 us-gaap Salaries And Wages
SalariesAndWages
100000 usd
CY2022Q2 us-gaap Salaries And Wages
SalariesAndWages
60000 usd
us-gaap Salaries And Wages
SalariesAndWages
180000 usd
us-gaap Salaries And Wages
SalariesAndWages
120000 usd
CY2023Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
90000 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
90000 usd
CY2023Q2 us-gaap Professional Fees
ProfessionalFees
60000 usd
CY2022Q2 us-gaap Professional Fees
ProfessionalFees
30000 usd
us-gaap Professional Fees
ProfessionalFees
170000 usd
us-gaap Professional Fees
ProfessionalFees
60000 usd
CY2021 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
29286 shares
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P10Y
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
CY2022Q4 BFRG Shares Exchanged For Each Convertible Preferred Stock
SharesExchangedForEachConvertiblePreferredStock
10 shares
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2022 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
205984 shares
CY2022 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
226138 usd
CY2023Q1 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
7692 shares
CY2023Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
50000 usd
CY2023Q2 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
436533 shares
CY2023Q2 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
1494658 usd
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y29D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
117669 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
379500 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.53
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
448717 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.30
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y4M6D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
174563 usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
177985 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
3.91
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y8M19D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
77706 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.87 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.88 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.034 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.039 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.26
CY2023Q2 us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense
260624 usd
us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense
359054 usd
CY2022Q2 us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense
451 usd
us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense
1109 usd
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
881000 usd
BFRG Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm
P2Y2M12D
CY2021Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
92859 shares
CY2023Q2 us-gaap Class Of Warrant Or Right Unissued
ClassOfWarrantOrRightUnissued
11606 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P0Y9M18D
CY2023Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
3796147 shares

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0001493152-23-028428.txt Edgar Link pending
0001493152-23-028428-xbrl.zip Edgar Link pending
bfrg-20230630.xsd Edgar Link pending
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ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
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bfrg-20230630_def.xml Edgar Link unprocessable
form10-q_htm.xml Edgar Link completed