Company: CUB
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042278
Chunk: 15

Company: Lionheart Holdings
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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) per Ordinary Share

The Company complies with
accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share”. Net income (loss) per Ordinary Share is
computed by dividing net income (loss) by the weighted average number of Ordinary Shares outstanding for the period. Accretion associated
with the redeemable Class A Ordinary Shares is excluded from income per ordinary share as the redemption value approximates fair value.

The calculation of diluted
net income (loss) does not consider the effect of the Public Warrants (including the full exercise of the Over-Allotment Option) and the
Private Placement Warrants to purchase an aggregate of 6,000,000 Class A Ordinary Shares in the calculation of diluted income per share,
because in the calculation of diluted income per share, their exercise is contingent upon future events. As a result, diluted net income
(loss) per share is the same as basic net income (loss) per share for the three months ended March 31, 2025 and for the period from February
21, 2024 (inception) through March 31, 2024. All accretions associated with the redeemable Class A Ordinary Shares are excluded from earnings
per share as the redemption value approximates fair value.

10

The following table reflects
the calculation of basic and diluted net income (loss) per Ordinary Share (in dollars, except per share amounts):

    For the Three Months Ended March 31, 2025  
    For the Period from February 21, 2024 (Inception) Through March 31, 2024 

    Class A  
    Class B  
    Class A  
    Class B 
  
    Basic and diluted net income (loss) per Ordinary Share: 

    Numerator: 

    Allocation of net income (loss) 
    $1,649,023  
    $549,675  
    $—  
    $(22,260)
  
    Denominator: 

    Basic weighted average Ordinary Shares outstanding 
     23,000,000  
     7,666,667  
     —  
     6,666,667 
  
    Basic and diluted net income (loss) per Ordinary Share 
    $0.07  
    $0.07  
    $—  
    $(0.00)

Concentration of Credit Risk

Financial instruments that