Company: FLDDW
Filing Date: 2025-07-28
Form Type: S-1/A
Source: 0001213900-25-068264
Chunk: 252

Company: Fold Holdings, Inc.
Filing Date: 2025-07-28
Form: S-1/A
Chunk 252
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,663 |   |
| Less: accumulated amortization              |     |   |     (486,163 | ) |     |   |     (193,897 | ) |
| Capitalized software, net carrying value    |     | $ |    1,000,065 |   |     | $ |      553,766 |   |

The gross carrying amount of internally developed software costs that had been capitalized but not placed into service is as follows:

|                                              |     |   | December 31, 
         2024 |     |   | December 31, 
         2023 |
|:---------------------------------------------|:----|:--|-------------:|:----|:--|-------------:|
| Capitalized software not placed into service |     | $ |      348,058 |     | $ |      204,370 |

During the years ended December 31, 2024 and 2023, the Company recorded amortization expense on capitalized software development costs placed in service in the amount of $0.3 million and $0.4 million, respectively. During the year ended December 31, 2023, amortization expense included the write -offof capitalized software development costs of $0.2 million related to the abandonment of the associated projects. The Company did not write -offany abandoned capitalized software development costs during the year ended December 31, 2024. Impairment of long-lived assets Management reviews capitalized software development costs for impairment in accordance with ASC 360, Property, Plant, and Equipment. In assessing our capitalized software development costs for impairment, we first assess qualitative factors to determine whether it is necessary to perform the quantitative impairment test. In the qualitative assessment, we may consider factors such as economic conditions, industry and market conditions and developments, overall financial performance and other relevant entity -specificevents in determining whether it is more likely than not that the fair value of the reporting unit is less than the carrying amount. Should we conclude that it is more likely than not that the recorded long -livedasset amounts have been impaired, we would perform the impairment test. An impairment loss is recognized in earnings if the estimated fair value of a capitalized software development costs is less than the carrying amount of that asset. Significant judgment is applied when capitalized software development cost assets are assessed for impairment. Other than noted above, there were no factors identified that triggered an impairment review for the years ended December 31, 2024 and 2023. Deferred transaction costs asset