Company: CUB
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042278
Chunk: 96

Company: Lionheart Holdings
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 2
Chunk 96
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As of March 31, 2025, we had
cash of $697,678. We intend to use the funds held outside the Trust Account primarily to identify and evaluate target businesses, perform
business due diligence on prospective target businesses, travel to and from the offices, plants or similar locations of prospective target
businesses or their representatives or owners, review corporate documents and material agreements of prospective target businesses, and
structure, negotiate and complete a Business Combination.

In order to fund working capital
deficiencies or finance transaction costs in connection with a Business Combination, the Sponsor, or certain of our officers and directors
or their affiliates may, but are not obligated to, loan us funds as may be required. If we complete a Business Combination, we would repay
such Working Capital Loans. In the event that a Business Combination does not close, we may use a portion of the working capital held
outside the Trust Account to repay such Working Capital Loans, but no proceeds from our Trust Account would be used for such repayment.
Up to $1,500,000 of such Working Capital Loans may be convertible into warrants of the post Business Combination entity at a price of
$1.00 per warrant at the option of the lender.

We do not believe we will
need to raise additional funds in order to meet the expenditures required for operating our business. However, if our estimate of the
costs of identifying a target business, undertaking in-depth due diligence and negotiating a Business Combination are less than the actual
amount necessary to do so, we may have insufficient funds available to operate our business prior to our Business Combination. Moreover,
we may need to obtain additional financing either to complete our Business Combination or because we become obligated to redeem a significant
number of our Public Shares upon consummation of our Business Combination, in which case we may issue additional securities or incur debt
in connection with such Business Combination.

Contractual Obligations

We do not have any long-term
debt, capital lease obligations, operating lease obligations or long-term liabilities, other than as set forth below.

Administrative Services Agreement

Commencing on June 18, 2024,
and until completion of our initial Business Combination or liquidation, we reimburse an affiliate of our Sponsor $15,000 per month for
certain office space, utilities and secretarial and administrative services as may be reasonably required by our Company pursuant to the
Administrative Services Agreement. Under the Administrative Services Agreement, there was $45,000 and $0 incurred for the