Company: FLDDW
Filing Date: 2025-04-01
Form Type: S-1
Source: 0001213900-25-026537
Chunk: 273

Company: Fold Holdings, Inc.
Filing Date: 2025-04-01
Form: S-1
Chunk 273
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 31, 2024 and 2023.

NOTE 9. INCOME TAXES

The Company’s net deferred tax assets are
as follows:

| Deferred tax asset                   |     | December 31, 
 2024         |            |   |     | 2023 |            |   |
|:-------------------------------------|:----|:-------------|-----------:|:--|:----|:-----|-----------:|:--|
| Organizational costs/Start-up costs  |     | $            |  2,001,367 |   |     | $    |  1,253,839 |   |
| Federal net operating loss           |     |              |          — |   |     |      |          — |   |
| Total deferred tax asset             |     |              |  2,001,367 |   |     |      |  1,253,839 |   |
| Valuation allowance                  |     |              | (2,001,367 | ) |     |      | (1,253,839 | ) |
| Deferred tax asset, net of allowance |     | $            |          — |   |     | $    |          — |   |

The income tax provision for the years ended December
31, 2024 and 2023 consists of the following:

| Federal                       |     | December 31, 
 2024         |          |   |     | 2023 |           |   |
|:------------------------------|:----|:-------------|---------:|:--|:----|:-----|----------:|:--|
| Current                       |     | $            |  628,508 |   |     | $    | 2,325,087 |   |
| Deferred                      |     |              | (747,528 | ) |     |      |  (903,665 | ) |
| State                         |     |              |          |   |     |      |           |   |
| Current                       |     | $            |        — |   |     | $    |         — |   |
| Deferred                      |     |              |        — |   |     |      |         — |   |
| Change in valuation allowance |     |              |  747,528 |   |     |      |   903,665 |   |
| Income tax provision          |     | $            |  628,508 |   |     | $