Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 533

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 533
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526 | ) |

The accompanying notes are an integral part of the unaudited condensed financial statements.

F-70

FTAC EMERALD ACQUISITION CORP.
CONDENSED STATEMENTS OF CASH FLOWS
(UNAUDITED)

| Cash Flows from Operating Activities:                                                |     | For the Nine Months Ended 
 September 30,             
 2024                      |              |   |     | 2023 |             |   |
|:-------------------------------------------------------------------------------------|:----|:--------------------------|-------------:|:--|:----|:-----|------------:|:--|
| Net (loss) income                                                                    |     | $                         |   (1,444,875 | ) |     | $    |   4,202,024 |   |
| Adjustments to reconcile net (loss) income to net cash used in operating activities: |     |                           |              |   |     |      |             |   |
| Interest income earned on investments held in trust account                          |     |                           |   (2,353,695 | ) |     |      |  (9,027,924 | ) |
| Non-redemption agreement expense                                                     |     |                           |      838,825 |   |     |      |     708,400 |   |
| Interest expense                                                                     |     |                           |      323,197 |   |     |      |           — |   |
| Changes in operating assets and liabilities:                                         |     |                           |              |   |     |      |             |   |
| Prepaid expenses                                                                     |     |                           |       78,400 |   |     |      |     152,849 |   |
| Prepaid income taxes                                                                 |     |                           |       58,369 |   |     |      |     (51,084 | ) |
| Due to related party                                                                 |     |                           |      270,000 |   |     |      |           — |   |
| Accounts payable and accrued expenses                                                |     |                           |      174,444 |   |     |      |     335,969 |   |
| Income tax payable                                                                   |     |                           |            — |   |     |      |    (359,410 | ) |
| Net cash used in operating activities                                                |     |                           |   (2,055,335 | ) |     |      |  (4,039,176 | ) |
| Cash Flows from