Company: FLDDW
Filing Date: 2025-04-01
Form Type: S-1
Source: 0001213900-25-026537
Chunk: 132

Company: Fold Holdings, Inc.
Filing Date: 2025-04-01
Form: S-1
Chunk 132
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 note. The entirety of this note relates to the “March 2025 Securities Purchase Agreement” described in the ‘Recent Developments’ section above. This note is convertible into shares of common shares at a conversion price of $15.00 per share. The Note is secured by the 475 bitcoin proceeds held as collateral and will mature March 6, 2031. For the year ended December 31, 2024 and 2023 The following table summarizes our cash flow activities:

|                                           |     | Year Ended December 31, |       2024 |   |     |   |       2023 |   |
|:------------------------------------------|:----|:------------------------|-----------:|:--|:----|:--|-----------:|:--|
| Net cash used in operating activities     |     | $                       | (3,314,951 | ) |     | $ |   (644,670 | ) |
| Net cash used in investing activities     |     |                         | (2,514,260 | ) |     |   | (3,716,557 | ) |
| Net cash provided by financing activities |     |                         | 22,668,026 |   |     |   |    500,000 |   |
| Net (decrease) increase in cash           |     | $                       | 16,838,815 |   |     | $ | (3,861,227 | ) |

Cash flows from operating activities For the year ended December 31, 2024, cash used in operating activities was $3.3 million, primarily due to the net loss of $65.1 million, offset by an increase in cash from net working capital of $2.6 million and adjustments for non-cash income and expense totaling $59.2 million. For the year ended December 31, 2023, cash used in operating activities was $0.6 million, primarily due to the net loss of $7.2 million, offset by an increase in cash from net working capital of $4.9 million and adjustments for non-cash income and expense totaling $1.7 million. Cash flows from investing activities Cash flows used in investing activities decreased from December 31, 2023 to December 31, 2024 by $1.2 million, primarily due to lower purchases of bitcoin in our Rewards Treasury. Cash flows from financing activities For the years ended December 31, 2024 and 2023, cash