Fold Holdings, Inc.
For the period ended Mar 31, 2025. Filed May 15, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 15, 2025
FLD$0.44-4.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Statements of Cash Flows
| Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities | ||
| Net loss | $(48,879,200) | $(945,046) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Amortization expense | 91,071 | 57,353 |
| Loss (gain) on digital assets - rewards treasury | 1,010,586 | (3,491,889) |
| Loss on digital assets - investment treasury | 15,617,152 | - |
| (Gain) loss on customer rewards liability | (1,100,857) | 3,423,045 |
| Change in fair value of convertible note | 6,534,143 | - |
| Convertible note issuance costs and fees | 9,569,109 | - |
| Amortization of debt discount | 525,921 | - |
| Change in fair value of SAFEs | 6,503,113 | 95,064 |
| Share-based compensation expense | 5,170,275 | - |
| Increase (decrease) in cash resulting from changes in: | ||
| Accounts receivable, net | (491,433) | (38,400) |
| Inventories | (140,782) | (11,860) |
| Prepaid expenses and other current assets | (962,423) | 9,756 |
| Accounts payable | 373,426 | 168,239 |
| Accrued expenses and other current liabilities | 660,721 | 10,908 |
| Customer reward liability | 611,552 | 487,032 |
| Deferred revenue | (46,574) | (118,433) |
| Net cash used in operating activities | (4,954,200) | (354,231) |
| Cash flows from investing activities | ||
| Purchases of digital assets | (1,562,973) | (441,467) |
| Proceeds from sales of digital assets | - | - |
| Payments for capitalized software development costs | (266,221) | (171,134) |
| Net cash used in investing activities | (1,829,194) | (612,601) |
| Cash flows from financing activities | ||
| Proceeds from recapitalization | 804,600 | - |
| Payments of deferred IPO costs | (652,013) | - |
| Proceeds received from SAFE financings | - | 500,000 |
| Net cash provided by financing activities | 152,587 | 500,000 |
| Net decrease in cash and cash equivalents | (6,630,807) | (466,832) |
| Cash and cash equivalents, beginning of period | 18,330,359 | 1,491,544 |
| Cash and cash equivalents, end of period | $11,699,552 | $1,024,712 |
| Non-cash investing and financing activities | ||
| Distributions of digital assets to fulfill customer reward redemptions | 714,802 | 1,317,262 |
| Distributions of digital assets to satisfy other current liabilities | 1,012 | 8,940 |
| Recapitalization | 173,019,904 | - |
| Proceeds from convertible debt received in digital assets - related party | 43,965,525 | - |
| Distributions of digital assets for prepaid interest - related party | 2,313,975 | - |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.