Company: FLDDW
Filing Date: 2025-08-11
Form Type: 424B3
Source: 0001213900-25-074298
Chunk: 251

Company: Fold Holdings, Inc.
Filing Date: 2025-08-11
Form: 424B3
Chunk 251
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linemethod over the estimated useful life of the software, which is three years. Costs incurred in the preliminary and post -implementationphases of the Company’s internal use software are expensed as incurred. F-11

Fold, Inc.
Notes to Financial Statements 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) Capitalized software development costs consisted of the following:

|                                             |     |   | December 31, 
         2024 |   |     |   | December 31, 
         2023 |   |
|:--------------------------------------------|:----|:--|-------------:|:--|:----|:--|-------------:|:--|
| Capitalized software, gross carrying amount |     | $ |    1,486,228 |   |     | $ |      747,663 |   |
| 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