Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 685

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 6
Chunk 685
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 (the “IPO Promissory Note”). This loan is non-interest bearing and was payable on
the earlier of December 31, 2024, or the date on which the Company consummates the Initial Public Offering. The outstanding balance of
$180,000 was repaid at the closing of the Initial Public Offering on June 20, 2024, and borrowings under the IPO Promissory Note are
no longer available.

General
Legal Counsel

An
affiliate of the Company’s Sponsor, Lionheart Capital, LLC (“Lionheart Capital”), has engaged Jessica L. Wasserstrom,
LLC (“Wasserstrom”), to represent Lionheart Capital and its affiliated companies, as corporate general counsel and otherwise
in connection with any corporate and/or transactional matters. The engagement letter between Lionheart Capital and Wasserstrom is for
an indefinite period only subject to termination rights of either party, of which no termination has occurred since the agreement was
executed. Jessica Wasserstrom, the principal of Wasserstrom, currently holds the title of Chief Legal Officer of Lionheart Capital and
its affiliated companies.

In
connection therewith, Wasserstrom was specifically engaged by the Company to provide counsel for general corporate legal matters and,
as such, may be deemed to be a related party of the Company. As of December 31, 2024, the Company incurred an aggregate of $175,000 of
legal fees from Wasserstrom. On June 25, 2024, the Company paid $50,000 and the remaining $125,000 is recorded within deferred legal
fees since it is due at the time of the Business Combination.

Administrative
Services Agreement

Commencing
on June 18, 2024, the Company entered into an agreement with the Sponsor or an affiliate to pay an aggregate of $15,000 per month for
office space, utilities, and secretarial and Administrative Services. For the period from February 21, 2024 (Inception) through
December 31, 2024, the Company incurred $95,000 in fees for these services, of which such amount is included in general and administrative
and formation costs in the accompanying statement of operations.

F-13

LIONHEART
HOLDINGS

NOTES
TO FINANCIAL STATEMENT

DECEMBER
31, 2024

Letter
Agreement

The
Sponsor, officers and directors have entered into the Letter Agreement, pursuant to which they have agreed to (