Company: FLDDW
Filing Date: 2025-07-11
Form Type: S-1
Source: 0001213900-25-062935
Chunk: 316

Company: Fold Holdings, Inc.
Filing Date: 2025-07-11
Form: S-1
Chunk 316
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2023 consists of the following:

| Federal                       |     | December 31, 
 2024         |          |   |     | 2023 |           |   |
|:------------------------------|:----|:-------------|---------:|:--|:----|:-----|----------:|:--|
| Current                       |     | $            |  628,508 |   |     | $    | 2,325,087 |   |
| Deferred                      |     |              | (747,528 | ) |     |      |  (903,665 | ) |
| State                         |     |              |          |   |     |      |           |   |
| Current                       |     | $            |        — |   |     | $    |         — |   |
| Deferred                      |     |              |        — |   |     |      |         — |   |
| Change in valuation allowance |     |              |  747,528 |   |     |      |   903,665 |   |
| Income tax provision          |     | $            |  628,508 |   |     | $    | 2,325,087 |   |

As of December 31, 2024 and 2023, the Company had a total of $ of U.S. federal net operating loss carryovers available to offset future taxable income. The federal net operating loss can be carried forward indefinitely. As of December 31, 2024 and 2023, the Company did not have any state net operating loss carryovers available to offset future taxable income.

In assessing the realization of the deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which temporary differences representing net future deductible amounts become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. After consideration of all of the information available, management believes that significant uncertainty exists with respect to future realization of the deferred tax assets and has therefore established a full valuation allowance. For the year ended December 31, 2024, the change in the valuation allowance was $. For the year ended December 31, 2023, the change in the valuation allowance was $.

A reconciliation of the federal income tax rate to the Company’s effective tax rate