Company: FLDDW
Filing Date: 2025-08-11
Form Type: 424B3
Source: 0001213900-25-074298
Chunk: 162

Company: Fold Holdings, Inc.
Filing Date: 2025-08-11
Form: 424B3
Chunk 162
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 Increased professional fees related directly to legal, advisory, and audit services incurred as part of our transition to becoming a public company. Payroll expenses increased in correlation with our increased employee headcount, which was 35 employees as of March 31, 2025 and 22 employees as of March 31, 2024. Marketing expenses increased in accordance with our planned growth strategy for 2025, which includes budgeted expenditures for paid marketing channels. Insurance expenses related to increased coverage premiums as result of our transition to becoming a public company. Cash flows from investing activities Cash flows used in investing activities increased from March 31, 2024 to March 31, 2025 by $1.2 million, primarily due to increased volume of purchases of bitcoin for our Investment Treasury. Cash flows from financing activities For the three months ended March 31, 2025 and 2024, cash provided by financing activities was $0.2 million and $0.5 million, respectively. For the three months ended March 31, 2025 and 2024, we raised $0.0 million and $0.5 from SAFE note financings, respectively. For the three months ended March 31, 2025 we received proceeds from issuance of the March 2025 Investor Note; however, those proceeds were received in bitcoin rather than cash and are therefore not included in cash provided by financing activities. Off-Balance Sheet Financing Arrangements We have no obligations, assets or liabilities, which would be considered off -balancesheet arrangements as of March 31, 2025. We do not participate in transactions that create relationships with unconsolidated entities or financial partnerships, often referred to as variable interest entities, which would have been established for the purpose of facilitating off -balancesheet arrangements. We have not entered into any off -balancesheet financing arrangements, established any special purpose entities, guaranteed any debt or commitments of other entities, or purchased any non -financialassets. Critical Accounting Estimates Our discussion and analysis of our financial condition and results of operations are based upon our financial statements, which have been prepared in accordance with GAAP. GAAP requires us to make certain estimates and judgments that affect the amounts reported in our financial statements. We base our estimates on historical experience, anticipated future trends, and other assumptions we believe to be reasonable under the circumstances. Because these

98 accounting estimates require significant judgment, our actual results may differ materially from our estimates. According to the U.S. Securities and Exchange Commission (SEC), a “