Company: CUB
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042278
Chunk: 29

Company: Lionheart Holdings
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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in the Trust Account were comprised of $236,335,105 in money market funds, which were invested primarily in U.S. government securities.

At issuance, the Public Warrants
were valued using a Monte Carlo model. The Public Warrants have been classified within shareholders’ deficit and will not require
remeasurement after issuance. The following table presents the quantitative information regarding market assumptions used in the valuation
of the Public Warrants:

    June 20, 2024 
  
    Market price of Public Warrants 
    $9.96 
  
    Term (years) 
     6.53 
  
    Risk-free rate 
     4.25%
  
    Volatility 
     7.2%

17

NOTE 9. SEGMENT INFORMATION

ASC 280 establishes standards
for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major
customers. “Operating segments” are defined as components of an enterprise that engage in business activities from which it
may recognize revenues and incur expenses, and for which separate financial information is available that is regularly evaluated by a
CODM, or group, in deciding how to allocate resources and assess performance.

The Company’s CODM has
been identified as the Chief Financial Officer, who reviews the assets, operating results, and financial metrics for the Company as a
whole to make decisions about allocating resources and assessing financial performance. Accordingly, Management has determined that there
is only one reportable segment.

The CODM assesses performance
for the single segment and decides how to allocate resources based on net income that also is reported on the statement of operations
as net income. The measure of segment assets is reported on the balance sheet as total assets. When evaluating the Company’s performance
and making key decisions regarding resource allocation, the CODM reviews several key metrics included in net income and total assets,
which include the following:

    March 31,
 2025  
    December 31,
 2024 
  
    Trust Account 
    $238,782,364  
    $236,335,105 
  
    Cash 
    $697,678  
    $891,017 

    For the Three Months Ended March 31, 2025  
    For the Period  from February 21,  2024  (Inception) Through March 31,  2024 
  
    General and administrative and formation costs 
    $248,561  
    $