Company: FLDDW
Filing Date: 2025-08-11
Form Type: 424B3
Source: 0001213900-25-074298
Chunk: 324

Company: Fold Holdings, Inc.
Filing Date: 2025-08-11
Form: 424B3
Chunk 324
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 Amortization is provided utilizing the straight -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. Capitalized software development costs consisted of the following:

|                                             |     |   | March 31, 
      2025 |   |     |   | December 31, 
         2024 |   |
|:--------------------------------------------|:----|:--|----------:|:--|:----|:--|-------------:|:--|
| Capitalized software, gross carrying amount |     | $ | 1,752,449 |   |     | $ |    1,486,228 |   |
| Less: accumulated amortization              |     |   |  (577,234 | ) |     |   |     (486,163 | ) |
| Capitalized software, net carrying value    |     | $ | 1,175,215 |   |     | $ |    1,000,065 |   |

The gross carrying amount of internally developed software costs that had been capitalized but not placed into service is as follows:

|                                              |     |   | March 31, 
      2025 |     |   | December 31, 
         2024 |
|:---------------------------------------------|:----|:--|----------:|:----|:--|-------------:|
| Capitalized software not placed into service |     | $ |   555,534 |     | $ |      348,058 |

During the three months ended March 31, 2025 and 2024, the Company recorded amortization expense on capitalized software development costs placed in service in the amount of $0.1 million and $0.1 million, respectively. Amortization expense during the three months ended March 31, 2025, and three months ended March 31, 2024, did not include any write -offsrelated to the abandonment of projects. Customer rewards liability The Company offers certain rewards to its users through the Fold Rewards Program. This program allows the Company’s users to earn promotional credits denominated in bitcoin by engaging in various actions, either by engaging in qualifying spend transactions (the “Revenue Rewards”) or performing certain actions designated by the Company as primarily for marketing, growth, and retention purposes (the “Marketing Rewards”). Revenue Rewards are defined as those that are earned in direct