Company: TACOW
Filing Date: 2025-06-12
Form Type: 10-Q
Source: 0001829126-25-004454
Chunk: 53

Company: Berto Acquisition Corp.
Filing Date: 2025-06-12
Form: 10-Q
Item: Part I, Item 2
Chunk 53
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      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 standards, and as a result, we may not comply with new
      or revised accounting standards on the relevant dates on which adoption of such standards is required for non-emerging growth companies.
      As a result, our financial statements may not be comparable to companies that comply with new or revised accounting pronouncements
      as of public company effective dates.

As
      an “emerging growth company”, we are not required to, among other things, (i) provide an auditor’s attestation
      report on our system of internal controls over financial reporting pursuant to Section 404, (ii) provide all of the compensation
      disclosure that may be required of non-emerging growth public companies under the Dodd-Frank Wall Street Reform and Consumer Protection
      Act, (iii) comply with any requirement that may be adopted by the PCAOB regarding mandatory audit firm rotation or a supplement
      to the auditor’s report providing additional information about the audit and the financial statements (auditor discussion
      and analysis), and (iv) disclose certain executive compensation related items such as the correlation between executive compensation
      and performance and comparisons of the CEO’s compensation to median employee compensation. These exemptions