Company: TACOW
Filing Date: 2025-06-12
Form Type: 10-Q
Source: 0001829126-25-004454
Chunk: 18

Company: Berto Acquisition Corp.
Filing Date: 2025-06-12
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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 Company may pay cash compensation to its independent directors for services rendered to the Company. Additionally,
      the Company may pay consulting, success, advisory, or finder’s fees to the Sponsor, the Company’s officers or directors,
      advisors, or affiliates thereof in connection with the consummation of the Initial Business Combination. The Company’s audit
      committee will review on a quarterly basis all payments that were made to the Sponsor, executive officers or directors, or the
      Company’s or their affiliates.
       
      In
      addition, pursuant to the administrative services and indemnification agreement described above, the Company will indemnify the
      Sponsor from any claims arising out of or relating to the Initial Public Offering or the Company’s operations or conduct
      of the Company’s business or any claim against the Sponsor alleging any expressed or implied management or endorsement by
      the Sponsor of any of the Company’s activities or any express or implied association between the Sponsor and the Company
      or any of its affiliates, which agreement provides that the indemnified parties cannot access the funds held in the Trust Account.
       
      Related
      Party Loans
       
      Promissory
      Note
       
      The
      Company and the Sponsor entered into a loan agreement on August 23, 2024, which was later amended on December 31, 2024,
      whereby the Sponsor agreed to loan the Company an aggregate of up to $300,000 to cover expenses related to the Initial Public Offering
      pursuant to a promissory note (the “Note”). This loan was non-interest bearing and payable on the closing date of the
      Initial Public Offering. As of March 31, 2025 and December 31, 2024, the Company borrowed an aggregate of approximately
      $189,000 and approximately $34,000 under the Note, respectively. Subsequently, the Company borrowed additional amount, increased
      the total amount owed under the Note to approximately $222,000 and fully repaid the Note on May 1, 2025. The Note was no longer
      available after closing.

    13

BERTO ACQUISITION CORP.
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS
MARCH 31, 2025

      Working
      Capital Loans
       
      In
      addition, in order to finance transaction costs in connection with its Initial Business Combination, the Sponsor or an affiliate
      of the Sponsor, or the Company