Company: CUB
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109274
Chunk: 5

Company: Lionheart Holdings
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 5
---
 for Class A o Ordinary Shares to redemption amount 
     —  
     —  
     —  
     —  
     —  
     (3,397,997) 
     (3,397,997)

    Net income 
     —  
     —  
     —  
     —  
     —  
     3,220,747  
     3,220,747 

    Balance – September 30, 2024 
     —  
    $—  
     7,666,667  
    $767  
    $—  
    $(8,749,504) 
    $(8,748,737)

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

3

LIONHEART HOLDINGS

CONDENSED STATEMENTS OF CASH FLOWS
(UNAUDITED)

    For the
 Nine Months Ended September 30,  
    For the Period from February 21, 2024 (Inception) Through September 30, 

    2025  
    2024 
  
    Cash Flows from Operating Activities: 

    Net income 
    $6,778,619  
    $3,327,965 
  
    Adjustments to reconcile net income to net cash used in operating activities: 

    Payment of formation costs through IPO Promissory Note 
     —  
     5,000 
  
    Change in fair value of marketable securities 
     (7,453,394) 
     (3,638,827)
  
    Changes in operating assets and liabilities: 

    Prepaid expenses 
     (19,454) 
     (38,018)
  
    Prepaid insurance 
     (19,688) 
     (216,563)
  
    Long-term prepaid insurance 
     91,875  
     — 
  
    Deferred legal fee payable 
     100,000  
     20,000 
  
    Accrued expenses 
     42,480  
     8,844 
  
    Net cash used in operating activities 
     (479,562) 
     (531,599)

    Cash Flows from Investing Activities: 

    Investment of cash into Trust Account 
     —