Company: CUB
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109274
Chunk: 123

Company: Lionheart Holdings
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 123
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 officers or directors in their capacity
as such or against any of our property.

Item 1A. Risk Factors.

As a smaller reporting company under Rule 12b-2 of the Exchange Act,
we are not required to include risk factors in this Report. However, for risks relating to our operations,
see the section titled “Risk Factors” contained in our (i) IPO Registration Statement, (ii) 2024 Annual Report and
(iii) Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025, as filed with the SEC on May 13, 2025. As of the date
of this Report, there have been no material changes with respect to those risk factors, other than
as set forth below. Any of these previously disclosed risk factors could result in a significant or material adverse effect on
our results of operations or financial condition. Additional risks not presently known to us or that we currently deem immaterial may
also affect our ability to consummate an initial Business Combination. We may disclose changes to such risk factors or disclose additional
risk factors from time to time in our future filings with the SEC.

There is substantial doubt about our ability
to continue as a “going concern.”

In connection with our assessment
of going concern considerations under applicable accounting standards, Management has determined that our possible need for additional
financing to enable us negotiate and complete our initial Business Combination, as well as the deadline by which we may be required to
liquidate our Trust Account, raise substantial doubt about our ability to continue as a going concern through approximately one year from
the date the unaudited condensed financial statements included in Item 1. “Financial Statements” of this Report were issued.

Item 2. Unregistered Sales of Equity Securities
and Use of Proceeds.

Unregistered Sales
of Equity Securities

There
were no sales of unregistered securities during the quarterly period covered by this Report.

Use of Proceeds

There
were no offerings of registered securities and therefore no planned use of proceeds from such offerings during the quarterly period covered
by this Report. For a description of the use of proceeds generated in our Initial Public Offering and Private Placement, see Part
II, Item 2 of our Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2024, as filed with the SEC on August 12, 2024.
There has been no material change in the planned use of proceeds from our Initial Public Offering and Private Placement as