Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 363

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 363
---
   |       2023 |   |
|:------------------------------------------|:----|:------------------|-----------:|:--|:----|:--|-----------:|:--|
| Net cash used in operating activities     |     | $                 | (3,393,225 | ) |     | $ |   (224,313 | ) |
| Net cash used in investing activities     |     |                   | (1,711,247 | ) |     |   | (3,150,619 | ) |
| Net cash provided by financing activities |     |                   |  8,000,000 |   |     |   |    500,000 |   |
| Net increase (decreased) in cash          |     | $                 |  2,895,528 |   |     | $ | (2,874,932 | ) |

228 Cash flows from operating activities For the nine months ended September 30, 2024, cash used in operating activities was $3.4 million, primarily due to the net loss of $65.6 million, offset by an increase in cash from net working capital of $2.8 million and an adjustment to the net income of non -cashincome and expense totaling $59.4 million. $3.3 million of operating cash outflows related to professional fees incurred in relation to the proposed merger with FTAC Emerald, including legal, accounting, and consulting fees. For the nine months ended September 30, 2023, cash used in operating activities was $0.2 million, primarily due to the net loss of $5.8 million, offset by an increase in cash from net working capital of $4.3million and an adjustment to the net loss of non -cashincome and expense totaling $1.3 million. Cash flows from investing activities Cash flows used in investing activities decreased to $1.7 million for the nine months ended September 30, 2024 from $3.2 million for the nine months ended September 30, 2023, primarily due to less purchases of bitcoin to satisfy customer rewards. Cash flows from financing activities For the nine months ended September 30, 2024, cash provided by financing activities was $8.0 million, which is attributable entirely to cash received from SAFEs financings. There were SAFEs financing proceeds of $0.5 million collected for the nine months ended September 30, 2023. Safeguarding Obligation Liability and Saf