Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 485

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1B
Chunk 485
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    $—  
    $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) 
     — 
  
    Accounts payable and accrued expenses 
     418,538  
     290,047 
  
    Due to related party 
     360,000  
     (21,535)
  
    Income tax payable 
     49,005  
     (359,410)
  
    Net cash used in operating activities 
     (3,433,498) 
     (5,082,475)

    Cash Flows from Investing Activities: 

    Cash withdrawn from Trust Account for tax purposes 
     592,930  
     3,014,566 
  
    Cash withdrawn from Trust Account in connection with redemption 
     116,724,496  
     96,791,644 
  
    Net cash provided by investing activities 
     117,317,426  
     99,806,210 

    Cash Flows from Financing Activities