Company: FLDDW
Filing Date: 2025-01-14
Form Type: S-4/A
Source: 0001213900-25-003167
Chunk: 465

Company: Fold Holdings, Inc.
Filing Date: 2025-01-14
Form: S-4/A
Chunk 465
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 assets) should be measured at amortized cost basis to be presented at the net amount expected to be collected based on relevant historical information from historical experience, adjusted for current conditions and reasonable and supportable forecasts that affect collectability. Credit losses relating to these financial assets are recorded through an allowance for credit losses. The Company adopted ASC 326, along with its related clarifications and amendments, on January 1, 2023, with no material impact on its financial statements. Results for reporting periods prior to 2023 continue to be presented in accordance with previously applicable U.S. GAAP, while results for subsequent reporting periods are presented under ASC 326. In February 2016, the FASB issued ASU 2016 -02, Leases(Topic 842), followed by other related ASUs that provided targeted improvements and additional practical expedient options (collectively “ASC 842”). The Company adopted ASC 842 on January 1, 2022 using the modified retrospective method whereby previously reported periods continue to be reported in accordance with historical accounting guidance for leases that were in effect for those prior periods. Policy elections and practical expedients that the Company has implemented as part of adopting ASC 842 include (a) excluding from the balance sheet leases with terms that are equal to or less than one year (b) for all existing asset classes that contain both lease and non -leasecomponents, combining these components together end accounting for them as a single lease component, and (c) the package of practical expedients, which among other things, allows the Company to avoid reassessing contracts that commenced prior to adoption that were properly evaluated under legacy U.S. GAAP. The Company’s adoption of ASC 842 did not result in any changes to the balance sheet as the Company did not identify any contracts that meet the definition of a lease under the standard. On December 13, 2023, the FASB issued ASU 2023 -08, Accounting For and Disclosure of Crypto Assets(Subtopic 350 -60), which addresses the accounting and disclosure requirements for certain digital assets. The new guidance requires entities to subsequently measure certain digital assets at fair value, with changes in fair value recorded in net income in each reporting period. The Company elected to early adopt ASU 2023 -08as of January 1, 2021, as we have previously not issued or made financial statements available to be issued. Recently issued accounting pronouncements not yet adopted In November 2023, the FASB issued ASU