Company: TACOW
Filing Date: 2025-06-12
Form Type: 10-Q
Source: 0001829126-25-004454
Chunk: 8

Company: Berto Acquisition Corp.
Filing Date: 2025-06-12
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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 loan under the Note (as defined in Note 5)
      in the amount of approximately $189,000. Following the closing of the Initial Public Offering, the Company’s liquidity was
      derived from the net proceeds from the consummation of the Initial Public Offering and the Private Placement held outside of the
      Trust Account. The Company fully repaid the Note balance on May 1, 2025, and the Note was no longer available after closing.

    7

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

      In
      addition, in order to finance transaction costs in connection with its Initial Business Combination, the Sponsor or an affiliate
      of the Sponsor, or the Company’s officers and directors may, but are not obligated to, provide the Working Capital Loans
      to the Company (as defined in Note 5). If the Company completes its Initial Business Combination, the Company would repay the Working
      Capital Loans. In the event that the Initial Business Combination does not close, the Company may use a portion of proceeds held
      outside the Trust Account to repay the Working Capital Loans but no proceeds held in the Trust Account would be used to repay the
      Working Capital Loans. If the Sponsor makes any Working Capital Loans, up to $1.5 million of such loans may be convertible into
      warrants of the post Initial Business Combination entity at a price of $1.00 per warrant at the option of the lender. The warrants
      and their underlying securities would be identical to the Sponsor Private Placement Warrants. As of March 31, 2025, the Company
      had no borrowings under the Working Capital Loans.
       
      In
      connection with the Company’s assessment of going concern considerations in accordance with FASB ASC 205-40 - “Presentation
      of Financial Statements – Going Concern, Disclosures of Uncertainties about an Entity’s Ability to Continue
      as a Going Concern”, as of March 31, 2025, management has determined that the Company’s current liquidity including,
      the Company’s access to funds from the Sponsor entity and the fact that the Sponsor and/or its affiliates agrees to make
      those funds available and has the financial wherewithal to provide such funds and the net proceeds from the closing of the Initial
      Public Offering and the Private Placement held outside Trust once consummated, is sufficient to