Company: FLDDW
Filing Date: 2025-04-01
Form Type: S-1
Source: 0001213900-25-026537
Chunk: 250

Company: Fold Holdings, Inc.
Filing Date: 2025-04-01
Form: S-1
Chunk 250
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 FTAC EMERALD ACQUISITION CORP.) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2024

Net (Loss) Income Per Common Stock

The Company historically had two classes of shares,
which are referred to as Class A common stock and Class B common stock. Earnings and losses are shared pro rata between the two classes
of shares. The Company has not considered the effect of the warrants sold in the Public Offering and the Private Placement to purchase
an aggregate of shares of its Class A common stock in the calculation of diluted net (loss) income per share, since their exercise
is contingent upon future events. As a result, diluted net (loss) income per share of common stock is the same as basic net (loss) income
per share of common stock. The redemption feature for the common shares equals fair value, and therefore does not create a different class
of shares or require an adjustment to the earnings per share calculation. The redemption at fair value does not represent an economic
benefit to the holders that is different from what is received by other stockholders, because the shares could be sold on the open market.
Accretion associated with the redeemable shares of Class A common stock is excluded from earnings per share as the redemption value approximates
the fair value.

|                                                                |     | For the Year Ended December 31, 
 2024                            |            |   |     |         |   |     | 2023    |            |     |         |           |
|:---------------------------------------------------------------|:----|:--------------------------------|-----------:|:--|:----|:--------|:--|:----|:--------|-----------:|:----|:--------|----------:|
|                                                                |     | Class A                         |            |   |     | Class B |   |     | Class A |            |     | Class B |           |
| Basic and diluted net (loss) income per share of common stock: |     |                                 |            |   |     |         |   |     |         |            |     |         |           |
| Numerator:                                                     |     |                                 |            |   |     |         |   |     |         |            |     |         |           |
| Allocation of net (loss) income                                |     | $                               | (1,868,532 | ) |     | $       | — |     | $       |  3,586,446 |