Company: FLDDW
Filing Date: 2025-04-01
Form Type: S-1
Source: 0001213900-25-026537
Chunk: 253

Company: Fold Holdings, Inc.
Filing Date: 2025-04-01
Form: S-1
Chunk 253
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740 also clarifies the accounting for uncertainty
in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement process
for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. For those benefits
to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. ASC 740 also provides
guidance on derecognition, classification, interest and penalties, accounting in interim period, disclosure and transition.

The Company recognizes accrued interest and penalties
related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest
and penalties as of December 31, 2024 and 2023. The Company is currently not aware of any issues under review that could result in significant
payments, accruals or material deviation from its position.

The Company has identified the United States as
its only “major” tax jurisdiction. The Company is subject to income taxation by major taxing authorities since inception.
These examinations may include questioning the timing and amount of deductions, the nexus of income among various tax jurisdictions and
compliance with federal and state tax laws. The Company’s management does not expect that the total amount of unrecognized tax benefits
will materially change over the next twelve months.

Concentration of Credit Risk

Financial instruments that potentially subject
the Company to concentration of credit risk consist of a cash account in a financial institution which at times may exceed the Federal
Deposit Insurance Corporation coverage limit of $. Any loss incurred or a lack of access to such funds could have a significant
adverse impact on the Company’s financial condition.

Recent Accounting Standards

Management does not believe that any recently
issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s consolidated
financial statements.

F-40 FOLD HOLDINGS, INC. (F/K/A FTAC EMERALD ACQUISITION CORP.) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2024 In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments in this ASU require disclosures, on an annual and interim basis, of significant segment expenses that are regularly provided to the chief operating officer decision maker (“CODM”), as well as the aggregate amount of other segment items included in the reported measure of segment profit or loss.