Company: CUB
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109274
Chunk: 15

Company: Lionheart Holdings
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 the extended transition period difficult or impossible because
of the potential differences in accounting standards used.

Use of Estimates

The preparation of the accompanying
unaudited condensed financial statements in conformity with GAAP requires Management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the accompanying unaudited
condensed financial statements and the reported amounts of revenues and expenses during the reporting periods.

Making estimates requires
Management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation
or set of circumstances that existed at the date of the accompanying unaudited condensed financial statements, which Management considered
in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results
could differ significantly from those estimates.

Cash and Cash Equivalents

The Company considers all
short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company has $336,455
and $891,017 in cash at September 30, 2025 and December 31, 2024, respectively, and does not have any cash equivalents as of September
30, 2025 and December 31, 2024.

Marketable Securities Held in Trust Account

The Company’s portfolio
of investments is comprised of cash and U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment
Company Act, with a maturity of 185 days or less, or investments in money market funds that invest in U.S. government securities and generally
have a readily determinable fair value, or a combination thereof. When the Company’s investments held in the Trust Account are comprised
of U.S. government securities, the investments are classified as trading securities, which are presented at fair value. Gains and losses
resulting from the change in fair value of these securities are included in income from investments held in the Trust Account in the accompanying
unaudited condensed statements of operations. The estimated fair values of investments held in the Trust Account are determined using
available market information. At September 30, 2025 and December 31, 2024, the assets held in the Trust Account of $243,788,499 and $236,335,105
were held in money market funds.

Offering Costs

The Company complies with
the requirements of the FASB ASC Topic 340