Company: FLDDW
Filing Date: 2025-04-01
Form Type: S-1
Source: 0001213900-25-026537
Chunk: 237

Company: Fold Holdings, Inc.
Filing Date: 2025-04-01
Form: S-1
Chunk 237
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 are therefore not included in common shares issued and outstanding as of December 31, 2024 or 2023. F-24 Fold, Inc. Notes to Financial Statements 12. COMMITMENTS AND CONTINGENCIES 401(k) Plan We sponsor a 401(k) defined contribution plan covering all eligible U.S. employees. Both Company and employee contributions to the 401(k) plan are discretionary. For each of the years ended December 31, 2024 and 2023, we recorded $0.1 million of expenses related to the 401(k) plan, which is included in compensation and benefits in the accompanying statements of operations. Litigation The Company was not a party of any ongoing or pending litigation as of December 31, 2024 or 2023 and accordingly, has not made any accrual related to legal proceedings in the Company’s balance sheets. 13. INCOME TAXES Income tax (benefit) expense consists of:

|                              |     |   | December 31, 
         2024 |     |   | December 31, 
         2023 |
|:-----------------------------|:----|:--|-------------:|:----|:--|-------------:|
| Federal current tax expense  |     | $ |            - |     | $ |            - |
| State current tax expense    |     |   |        7,400 |     |   |       10,242 |
| Total current tax expense    |     |   |        7,400 |     |   |       10,242 |
| Federal deferred tax expense |     |   |            - |     |   |            - |
| State deferred tax expense   |     |   |            - |     |   |            - |
| Total deferred tax expense   |     |   |            - |     |   |            - |
| Total tax expense            |     | $ |        7,400 |     | $ |       10,242 |

Income tax (benefit) expense differs from the amounts computed by applying the applicable U.S. federal income tax rate of 21% as a result of the following:

|                                                  |     |   | December 31, 
         2024 |   |     |   | December 31, 
         2023 |   |
|:-------------------------------------------------|:----|:--|-------------:|:--|:----|:--|-------------:|:--|
|