Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 380

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1A
Chunk 380
---
  
     434,696  
     —  
     434,696 
  
    Excise taxes on stock redemption 
     —  
     —  
     —  
     —  
     —  
     (1,167,245) 
     (1,167,245)
  
    Accretion of Class A common stock subject to possible redemption 

     (2,248,962) 
     —  
     (2,248,962)
  
    Net loss 
     —  
     —  
     —  
     —  
     —  
     (1,868,532) 
     (1,868,532)
  
    Balance as of December 31, 2024 
     9,591,222  
    $959  
     —  
    $—  
    $6,008,775  
    $(14,332,652) 
    $(8,322,918)

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

F-5

FOLD HOLDINGS, INC.

(F/K/A FTAC EMERALD ACQUISITION CORP.)

CONSOLIDATED STATEMENTS OF CASH FLOWS

    For the Year Ended December 31, 

    2024  
    2023 
  
    Cash Flows from Operating Activities: 

    Net (loss) income 
    $(1,868,532) 
    $4,443,634 
  
    Adjustments to reconcile net (loss) income to net cash used in operating activities: 

    Non-redemption agreement expense 
     838,825  
     708,400 
  
    Amortization of note discount 
     434,696  
     — 
  
    Interest earned on investments held in Trust Account 
     (2,953,920) 
     (11,207,609)
  
    Changes in operating assets and liabilities: 

    Prepaid expenses 
     172,303  
     (7,499)
  
    Prepaid income taxes 
     83,503  
     (83,503)
  
    Reimbursement receivable 
     —  
     1,155,000 
  
    Excise tax payable 
     (967,916)