Company: FLDDW
Filing Date: 2025-07-11
Form Type: S-1
Source: 0001213900-25-062935
Chunk: 164

Company: Fold Holdings, Inc.
Filing Date: 2025-07-11
Form: S-1
Chunk 164
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 significantly limited, which may adversely affect the Company’s business plan.

97

For the three months ended March 31, 2025 and 2024 The following table summarizes our cash flow activities:

|                                           |     | Three Months Ended 
 March 31,          |       2025 |   |     |   |     2024 |   |
|:------------------------------------------|:----|:-------------------|-----------:|:--|:----|:--|---------:|:--|
| Net cash used in operating activities     |     | $                  | (4,954,200 | ) |     | $ | (354,231 | ) |
| Net cash used in investing activities     |     |                    | (1,829,194 | ) |     |   | (612,601 | ) |
| Net cash provided by financing activities |     |                    |    152,587 |   |     |   |  500,000 |   |
| Net increase (decreased) in cash          |     | $                  | (6,630,807 | ) |     | $ | (466,832 | ) |

Cash flows from operating activities For the three months ended March 31, 2025, cash used in operating activities was $5.0 million compared to $0.4 million for the three months ended March 31, 2025. This increase was driven primarily due to (i) increased professional fees of $1.8 million; (ii) increased compensation and benefits expense excluding share -basedcompensation of $0.5 million; (iii) increased marketing expenses of $0.4 million; and (iv) increased insurance expenses of $0.3 million. Increased professional fees related directly to legal, advisory, and audit services incurred as part of our transition to becoming a public company. Payroll expenses increased in correlation with our increased employee headcount, which was 35 employees as of March 31, 2025 and 22 employees as of March 31, 2024. Marketing expenses increased in accordance with our planned growth strategy for 2025, which includes budgeted expenditures for paid marketing channels. Insurance expenses related to increased coverage premiums as result of our transition to becoming a public company. Cash flows from investing activities Cash flows used in investing activities increased from March 31, 2024 to March 31, 2025 by $1.2 million, primarily due to increased volume of purchases of bitcoin for our Investment