Company: CUB
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042278
Chunk: 98

Company: Lionheart Holdings
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 2
Chunk 98
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 Wasserstrom, currently holds the title of Chief Legal Officer of Lionheart Capital
and its affiliated companies.

In connection therewith, Wasserstrom
was specifically engaged by us to provide counsel for general corporate legal matters. As of March 31, 2025, we incurred an aggregate
of $225,000 of legal fees from Wasserstrom, which were recorded within accrued offering costs in the financial statements included in
this Report under Item 1. “Financial Statements”. On June 25, 2024, we paid $50,000 and the remaining $175,000 is recorded
within deferred legal fees since it is due at the time of the Business Combination.

Critical Accounting Estimates

The
preparation of the unaudited condensed financial statements and related disclosures included in this Report under Item 1. “Financial
Statements” in conformity with GAAP requires Management to make estimates and assumptions that affect the reported amounts of assets
and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and income and expenses during
the periods reported. Making estimates requires Management to exercise significant judgement. It is at least reasonably possible that
the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the unaudited condensed financial
statements included in this Report under Item 1. “Financial Statements”, which Management consider in formulating its estimated,
could change in the near term due to one or more future confirming events. Accordingly, the actual results could materially differ from
those estimates. As of March 31, 2025, we did not have any critical accounting estimates to be disclosed.

Item 3. Quantitative
and Qualitative Disclosures About Market Risk.

 We are a smaller reporting
company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information otherwise required under this Item.

Item 4. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

Disclosure controls and procedures
are controls and other procedures designed to ensure that information required to be disclosed in our reports filed or submitted under
the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms.
Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to
be disclosed in our reports filed or submitted under the Exchange Act is accumulated and communicated to Management, including our Certifying
Officers”), or persons performing similar functions, as appropriate, to allow timely decisions regarding required disclosure