Company: TACOW
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001829126-25-006209
Chunk: 51

Company: Berto Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 2
Chunk 51
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 other policies; changes in interest rate policies; the Russia-Ukraine war; conflicts in the Middle East; and economic conditions and tensions involving China.

These and other risks could negatively impact economic growth rates and unemployment levels in the U.S. and other countries and result in volatility and disruptions in financial markets. Such risks could also adversely affect our search for an Initial Business Combination and any target business with which we may ultimately consummate an Initial Business Combination.

Results of Operations

Our entire activity from July 15, 2024 (inception) through June 30, 2025 is related to our formation and the preparation for our Initial Public Offering, and since the closing of our Initial Public Offering, the search for a prospective initial Business Combination. We will not generate any operating revenues until after the completion of our initial Business Combination. We generate non-operating income in the form of investment income from the Trust Account.  We will continue to incur increased expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses. Additionally, we recognize non-cash gains and losses within other income (expense) related to changes in recurring fair value measurement of our derivative liabilities, if any, at each reporting period.

23

For the three months ended June 30, 2025, we had net income of approximately $1.9 million, which consisted of approximately $2.1 million of interest income from operating account and investments held in the Trust Account, partially offset by approximately $229,000 of general and administrative expenses (of which $30,000 was for administrative expenses paid to our Sponsor).

For the six months ended June 30, 2025, we had net income of approximately $1.8 million, which consisted of approximately $2.1 million of interest income from operating account and investments held in the Trust Account, partially offset by approximately $247,000 of general and administrative expenses (of which $30,000 was for administrative expenses paid to our Sponsor).

Contractual Obligations

Registration Rights

The holders of the (i) Founder Shares, (ii) Sponsor Private Placement Warrants and the ordinary shares underlying such warrants, (iii) Underwriter Private Placement Warrants and the ordinary shares underlying such warrants, and (iv) warrants that may be issued upon conversion of Working Capital Loans will have registration rights pursuant to a registration rights agreement dated April 29, 2025. The holders of Founder Shares, Sponsor Private Placement Warrants, and Working