Company: FLDDW
Filing Date: 2025-01-14
Form Type: S-4/A
Source: 0001213900-25-003167
Chunk: 475

Company: Fold Holdings, Inc.
Filing Date: 2025-01-14
Form: S-4/A
Chunk 475
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 is recognized. As of December 31, 2023 and 2022, the Company recorded a valuation allowance of $6.1 million and $4.6 million, respectively. As of December 31, 2023 and 2022, the Company has federal net operating losses of $15.1 million and $8.7 million, respectively, which do not expire. Utilization of the net operating losses may be subject to annual limitations due to the “change in ownership” provisions of the Internal Revenue Code of 1986 under Section 382. As of December 31, 2023, the Company has state net operating loss carryforwards of $16.2 million, of which $1.7 million do not expire and $14.5 million expire in various jurisdictions in 2036 through 2042. As of December 31, 2022, the Company has state net operating loss carryforwards of $11.8 million, of which $1.2 million do not expire and $10.6 million expire in various jurisdictions in 2036 through 2043. As of December 31, 2023 and 2022, the Company did not have any unrecognized tax benefits. To the extent penalties and interest would be assessed on any underpayment of income tax, the Company’s policy is that such amounts would be accrued and classified as a component of income tax expense in the financial statements. As of December 31, 2023 and 2022, the Company had no accrued interest or penalties related to uncertain tax positions. 13. FAIR VALUE MEASUREMENTS Financial assets and liabilities that are measured at fair value on a recurring basis are classified as Level1, Level 2 and Level 3 as follows:

|                                           |     | As of December 31, 2023 |            |     |         |           |     |         |           |     |         |            |
|:------------------------------------------|:----|:------------------------|-----------:|:----|:--------|----------:|:----|:--------|----------:|:----|:--------|-----------:|
|                                           |     | Total                   |            |     | Level 1 |           |     | Level 2 |           |     | Level 3 |            |
| Assets:                                   |     |                         |            |     |         |           |     |         |           |     |         |            |
| Digital assets                            |     | $                       |