Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 527

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 527
---
 tax asset                   |     | December 31, 
 2023         |            |   |     | 2022 |          |   |
|:-------------------------------------|:----|:-------------|-----------:|:--|:----|:-----|---------:|:--|
| Organizational costs/Start-up costs  |     | $            |  1,253,839 |   |     | $    |  350,184 |   |
| Federal net operating loss           |     |              |          — |   |     |      |        — |   |
| Total deferred tax asset             |     |              |  1,253,839 |   |     |      |  350,184 |   |
| Valuation allowance                  |     |              | (1,253,839 | ) |     |      | (350,184 | ) |
| Deferred tax asset, net of allowance |     | $            |          — |   |     | $    |        — |   |

| Federal                       |     | December 31, 
 2023         |           |   |     | 2022 |          |   |
|:------------------------------|:----|:-------------|----------:|:--|:----|:-----|---------:|:--|
| Current                       |     | $            | 2,325,087 |   |     | $    |  726,410 |   |
| Deferred                      |     |              |  (903,665 | ) |     |      | (329,186 | ) |
| State                         |     |              |           |   |     |      |          |   |
| Current                       |     | $            |         — |   |     | $    |        — |   |
| Deferred                      |     |              |         — |   |     |      |        — |   |
| Change in valuation allowance |     |              |   903,665 |   |     |      |  329,186 |   |
| Income tax provision          |     | $            | 2,325,087 |   |     | $    |  726,410 |   |

F-65

FTAC EMERALD ACQUISITION CORP.
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2023 and 2022 NOTE 9. INCOME TAXES (cont.)

As of December