Company: TACOW
Filing Date: 2025-06-12
Form Type: 10-Q
Source: 0001829126-25-004454
Chunk: 13

Company: Berto Acquisition Corp.
Filing Date: 2025-06-12
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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 are computed for differences between the financial statements and tax bases of assets and liabilities that will result in future
      taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected
      to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected
      to be realized.

    10

BERTO ACQUISITION CORP.
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS
MARCH 31, 2025

      ASC
      740 prescribes a recognition threshold and a measurement attribute for the financial statements recognition and measurement of
      tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely
      than not to be sustained upon examination by taxing authorities. The Company’s management determined that the Cayman Islands
      is the Company’s major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax
      benefits as income tax expense. As of March 31, 2025 and December 31, 2024, there were no unrecognized tax benefits and
      no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result
      in significant payments, accruals or material deviation from its position.
       
      The
      Company is a Cayman Islands exempted company with no connection to any other taxable jurisdiction and is presently not subject
      to income taxes or income tax filing requirements in the Cayman Islands or the United States. As such, the Company currently has
      no income tax provision.
       
      Net
      Loss per Ordinary Share
       
      Net
      loss per ordinary share is computed by dividing net loss by the weighted average number of ordinary shares issued and outstanding
      during the period, excluding ordinary shares subject to forfeiture. Weighted average shares were reduced for the effect of an aggregate
      of 937,500 Founder Shares (as defined in Note 5) that are subject to forfeiture if the over-allotment option is not exercised in
      full or in part by the underwriters (see Note 5). As of March 31, 2025, the Company did not have any dilutive securities and
      other contracts that could, potentially, be exercised or converted into ordinary shares and then share in the earnings of the Company.
      As a result, diluted loss per share is