Company: CUB
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042278
Chunk: 76

Company: Lionheart Holdings
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 8
Chunk 76
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 only activities from February 21, 2024 (inception) through
March 31, 2025 were organizational activities, those necessary to prepare for the Initial Public Offering, completion
of the Initial Public Offering, and following the Initial Public Offering, identifying a target company for a Business Combination. We
do not expect to generate any operating revenues until after the completion of our Business Combination. We generate non-operating income
in the form of interest income on marketable securities held in the Trust Account. We incur expenses as a result of being a public company
(for legal, financial reporting, accounting and auditing compliance, among other things), as well as for due diligence expenses.

For
the three months ended March 31, 2025, we had  net income of $2,198,698, which consists of dividend income on marketable securities held
in the Trust Account of $2,447,259, offset by general and administrative and formation costs of $248,561. 

For
the period from February 21, 2024 (inception) through March 31, 2024, we had net loss of $22,260, which consists of general and administrative
and formation costs.

Factors That May
Adversely Affect our Results of Operations

Our
results of operations and our ability to complete an initial Business Combination may be adversely affected by various factors that could
cause economic uncertainty and volatility in the financial markets, many of which are beyond our control. Our results of operations and
our ability to consummate an initial Business Combination could be impacted by, among other things, downturns in the financial markets
or in economic conditions, increases in oil prices, inflation, fluctuations in interest rates, increases in tariffs, supply chain disruptions,
declines in consumer confidence and spending, public health considerations, and geopolitical instability, such as the military conflicts
in Ukraine and the Middle East. We cannot at this time predict the likelihood of one or more of the above events, their duration or magnitude
or the extent to which they may negatively impact our business and our ability to complete an initial Business Combination.

Liquidity and Capital Resources

On March 8, 2024, the Sponsor
agreed to loan us an aggregate of up to $300,000 to cover expenses related to the Initial Public Offering pursuant to the IPO Promissory
Note. This loan was non-interest bearing and was payable on the earlier of December 31, 2024, or the date on which