Company: CUB
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042278
Chunk: 4

Company: Lionheart Holdings
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 4
---
—  
     175,000 
  
    Payment of offering costs 
     —  
     (25,000)
  
    Net cash provided by financing activities 
     —  
     175,000 

    Net Change in Cash 
     (193,339) 
     153,057 
  
    Cash – Beginning of period 
     891,017  
     — 
  
    Cash – End of period 
    $697,678  
    $153,057 

    Non-Cash investing and financing activities: 

    Offering costs included in accrued offering costs 
    $75,000  
    $75,305 

The accompanying notes are an integral part of
the unaudited condensed financial statements. 

4

LIONHEART HOLDINGS

NOTES TO CONDENSED FINANCIAL STATEMENTS

MARCH 31, 2025

(Unaudited)

NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

Lionheart Holdings (the “Company”)
is a blank check company incorporated as a Cayman Islands exempted corporation on February 21, 2024. The Company was incorporated
for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business
combination with one or more businesses (the “Business Combination”). The Company is not limited to a particular industry
or geographic region for purposes of consummating a Business Combination. The Company is an early-stage and emerging growth company and,
as such, the Company is subject to all of the risks associated with early-stage and emerging growth companies.

As of March 31, 2025, the
Company had not commenced any operations. All activity for the period from February 21, 2024 (inception) through March 31, 2025 relates
to the Company’s formation, the Initial Public Offering (as defined below), and subsequent to the Initial Public Offering, identifying
a target company for a Business Combination. The Company will not generate any operating revenue until after the completion of its initial
Business Combination, at the earliest. The Company generates non-operating income in the form of dividend income on investments from the
proceeds derived from the Initial Public Offering. The Company has selected December 31 as its fiscal year end.

The Company’s sponsor
is Lionheart Sponsor, LLC (the “Sponsor”).

The Registration Statement
on Form