Company: TACOW
Filing Date: 2025-06-12
Form Type: 10-Q
Source: 0001829126-25-004454
Chunk: 37

Company: Berto Acquisition Corp.
Filing Date: 2025-06-12
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 condensed financial statements, and the
      reported amounts of income and expenses during the period reported. Actual results could materially differ from those estimates.
      We have identified the following critical accounting policies:

Deferred
      Offering Costs Associated with the Initial Public Offering

We
      comply with the requirements of the ASC 340-10-S99 — “Other Assets and Deferred Costs” — and SEC Staff
      Accounting Bulletin Topic 5A — “Expenses of Offering.” Deferred offering costs consist principally of professional
      and registration fees that were related to the Initial Public Offering. Deferred offering costs associated with warrants will be
      charged to shareholders’ deficit upon the completion of the Initial Public Offering. Deferred offering costs associated with
      the Public Shares will be charged against the carrying value of ordinary shares subject to possible redemption upon the completion
      of the Initial Public Offering.

23

Warrant
      Instruments

We
      will account for all of the Public Warrants and Private Placement Warrants in accordance with the guidance contained in FASB ASC
      Topic 815, “Derivatives and Hedging” (“ASC 815”). Accordingly, we evaluated and will classify the warrant
      instruments under equity treatment at their assigned values. Such guidance provides that the Warrants will not be precluded from
      equity classification. Equity-classified contracts are initially measured at fair value (or allocated value). Subsequent changes
      in fair value are not recognized as long as the contracts continue to be classified in equity in accordance with ASC 480 and ASC
      815. There are no Public or Private Warrants currently outstanding as of March 31, 2025 and December 31, 2024.

Off-Balance
      Sheet Arrangements and Contractual Obligations

As
      of March 31, 2025, we did not have any off-balance sheet arrangements as defined in Item 303(b)(1) of Regulation S-K and did
      not have any commitments or contractual obligations.

JOBS
      Act

On
      April 5, 2012, the JOBS Act was signed into law. The JOBS Act contains provisions that, among other things, relax certain
      reporting requirements for qualifying public companies. We qualify as an “emerging growth company” under the JOBS Act
      and are allowed to comply with new or revised accounting pronouncements based on the effective date for private (not publicly traded)
      companies. We elected to delay the adoption of new or revised accounting