Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 238

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1B
Chunk 238
---
 party or prospective target business who executed a waiver
of any and all rights to the monies held in the Trust Account (whether or not such waiver is enforceable) nor will it apply to any claims
under the Company’s indemnity of the underwriters of the Initial Public Offering against certain liabilities, including liabilities
under the Securities Act of 1933, as amended (the “Securities Act”). However, the Company has not asked the Sponsor
to reserve for such indemnification obligations, nor has the Company independently verified whether the Sponsor has sufficient funds
to satisfy its indemnity obligations and the Company believes that the Sponsor’s only assets are securities of the Company. Therefore,
the Company cannot assure investors that the Sponsor would be able to satisfy those obligations.

Liquidity
and Capital Resources

As
of December 31, 2024, the Company had $891,017 of cash and working capital surplus of $899,801.

In
connection with the Company’s assessment of going concern considerations in accordance with FASB ASC Topic 205-40, “Presentation
of Financials Statements – Going Concern,” the Company has sufficient funds for the working capital needs of the Company
until a minimum of one year from the date of issuance of the accompanying financial statement. The Company cannot assure investors that
its plans to consummate an Initial Business Combination will be successful.

The
Company does not believe it will need to raise additional funds in order to meet the expenditures required for operating its business.
However, if the Company’s 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, the Company may have insufficient funds available to operate
its business prior to its initial Business Combination. Moreover, the Company may need to obtain additional financing either to complete
its Business Combination or because the Company becomes obligated to redeem a significant number of its Public Shares upon completion
of its Business Combination, in which case the Company may issue additional securities or incur debt in connection with such Business
Combination.

NOTE
2— SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis
of Presentation

The
accompanying financial statement is presented in U.S. dollars and has been prepared in accordance with accounting principles generally
accepted in the United States of America (“GAAP”) and pursuant to the accounting and disclosure rules and regulations of
the SEC.

Emerging
Growth Company

The
Company is an “emerging growth