Company: FLDDW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0000950170-25-072818
Chunk: 12

Company: Fold Holdings, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 12
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Fold Holdings, Inc.

Condensed Balance Sheets

(Unaudited)

     March 31,

     December 31,

     2025

     2024

     Assets

     Current assets

     Cash and cash equivalents
      
     $
     11,699,552

     $
     18,330,359

     Accounts receivable, net

     942,888

     451,455

     Inventories

     403,595

     262,813

     Digital assets - rewards treasury

     7,365,544

     8,569,651

     Prepaid expenses and other current assets

     4,003,918

     687,100

     Total current assets

     24,415,497

     28,301,378

     Digital assets - investment treasury

     122,957,753

     93,568,700

     Capitalized software development costs, net

     1,175,215

     1,000,065

     Deferred transaction costs

     -

     2,784,893

     Total assets
      
     $
     148,548,465

     $
     125,655,036

     Liabilities and stockholders' equity (deficit)

     Current liabilities

     Accounts payable
      
     $
     1,486,978

     $
     1,113,552

     Accrued expenses and other current liabilities

     1,898,812

     71,858

     December 2024 convertible note, net

     -

     11,752,905

     Customer rewards liability

     7,365,544

     8,569,651

     Deferred revenue

     358,716

     387,776

     Total current liabilities

     11,110,050

     21,895,742

     Deferred revenue, long-term

     470,176

     487,690

     December 2024 convertible note, net

     12,278,826

     -

     March 2025 convertible note - related party

     52,813,643

     -

     Simple Agreements for Future Equity (“SAFEs”)

     -

     171,080,533

     Total liabilities

     76,672,695

     193,463,965

     Commitments and contingencies