Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 1667

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9B
Chunk 1667
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     13.35%
  
    Income tax provision 
     (50.68)% 
     34.35%

The Company files income tax returns in the U.S.
federal jurisdiction, in various state and local jurisdictions and is subject to examination by the various taxing authorities, since
inception.

F-21

FOLD HOLDINGS, INC.

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

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2024

NOTE 10. SEGMENT INFORMATION

ASC Topic 280, “Segment Reporting,”
establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic
areas, and major customers. Operating segments are defined as components of an enterprise for which separate financial information
is available that is regularly evaluated by the Company’s chief operating decision maker, or group, in deciding how to allocate
resources and assess performance.

The Company’s chief operating decision maker has been identified
as the Chief Financial Officer (“CODM”), who reviews the operating results for the Company as a whole to make decisions about
allocating resources and assessing financial performance. Accordingly, management has determined that the Company only has one reportable
segment.

The CODM assess performance for the single
segment and decides how to allocate resources based on net income or loss that also is reported on the statements of operations as
net income or loss. The measure of segment assets is reported on the balance sheet as total assets. When evaluating the
Company’s performance and making key decisions regarding resource allocation the CODM reviews several key metrics, which
include the following:

    For the Year Ended December 31, 2024  
    For the Year Ended December 31, 2023 
  
    General and administrative expenses 
    $2,920,423  
    $3,730,488 
  
    Interest earned on the Trust Account 
    $2,953,920  
    $11,207,609 

The CODM reviews interest earned on the Trust
Account to measure and monitor stockholder value and determine the most effective strategy of investment with the Trust Account
funds while maintaining compliance with the trust agreement. General and administrative expenses are reviewed and monitored by the
CODM to manage and forecast cash to ensure enough capital is available to complete a business combination within the business
combination period. The CODM also reviews general and administrative costs to