Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 466

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 466
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 $       |  5,416,015 |   |

Disbursements of bitcoin represent amounts that were distributed to customers to fulfill customer rewards obligations. The remeasurement gain of $4.2million recognized on the digital assets balance for the year ended December31, 2023 consisted of a realized gain of $0.2million and an unrealized gain of $4.0million. The remeasurement loss of $5.4million recognized on the digital assets balance for the year ended December31, 2022 consisted of a realized loss of $2.5million and an unrealized loss of $2.9million.

F-18

Fold, Inc.
Notes to Financial Statements 5. PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets consisted of the following:

|                     |     |   | December 31, 
         2023 |     |   | December 31, 
         2022 |
|:--------------------|:----|:--|-------------:|:----|:--|-------------:|
| Prepaid expenses    |     | $ |      370,851 |     | $ |    1,107,537 |
| Interest receivable |     |   |        5,409 |     |   |       11,777 |
| Other receivable    |     |   |      133,892 |     |   |       31,275 |
| Total               |     | $ |      510,152 |     | $ |    1,150,589 |

6. CUSTOMER REWARDS LIABILITY A reconciliation, in the aggregate, of beginning and ending balances of the Company’s customer rewards liability for the years ended December31, 2023 and 2022 is as follows:

|                                                         |     | Customer Rewards 
 Liability        |            |   |
|:--------------------------------------------------------|:----|:-----------------|-----------:|:--|
| Balance at January 1, 2022                              |     | $                |  5,783,804 |   |
| Rewards earned by customers                             |     |                  |  6,661,301 |   |
| Rewards fulfilments                                     |     |                  | (4,262,767 | ) |
| Expired rewards                                         |     |                  |   (566,255 | ) |
| Remeasurement (gain) loss on customer rewards liability |     |                  | (4,606,421