Company: ABTC
Filing Date: 2025-07-29
Form Type: S-4/A
Source: 0001213900-25-068715
Chunk: 570

Company: American Bitcoin Corp.
Filing Date: 2025-07-29
Form: S-4/A
Chunk 570
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 ABTC’s equity balance in these Combined Financial Statements represents the excess assets less total liabilities. Net parent investment is primarily impacted by contributions from Parent which are the result of net funding provided by or distributed to Parent. Cash is managed through bank accounts controlled and maintained by Parent. ABTC does not have legal ownership of any bank accounts containing cash balances as of December 31, 2024 and 2023. As such, cash held in commingled accounts with Parent is presented within net parent investment on the Combined Balance Sheets. ABTC is a not a co -obligoron Parent’s third -party, long -termdebt obligations nor is ABTC expected to pay any portion of Parent’s third -party, long -termdebt. However, proceeds from Parent’s third -partydebts were used to finance ABTC’s purchase of ASIC or directly used for Bitcoin mining -relatedactivities and are included in ABTC’s Combined Financial Statements. While ABTC is not a legal obligor, certain Bitcoin mining assets of the ABTC were pledged as collateral as disclosed in Note 5. Note 2. Significant accounting policies and recent accounting pronouncements Recent accounting pronouncements In November 2024, the Financial Accounting Standards Board (“FASB”) issued Update ASU 2024 -03, Income Statement — Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220 -40 ): Disaggregation of Income Statement Expenses(“ASU 2024 -03”). ASU 2024 -03requires public business entities to provide additional disclosures in the notes to financial statements, disaggregating specific expense categories within relevant income statement captions. The prescribed categories include purchases of inventory, employee compensation, depreciation, intangible asset amortization, and depreciation, depletion, and amortization related to oil -and-gasproducing activities. ASU 2024 -03is effective for annual reporting periods beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. ABTC is currently evaluating the impact of adopting the standard. In December 2023, FASB issued ASU No. 2023 -09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures(“ASU 2023 -09”). ASU 2023 -09expands existing income tax disclosures (1) for rate reconciliations by requiring disclosure of certain specific categories and additional reconciling items that meet quantitative thresholds and (