Company: CUB
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109274
Chunk: 44

Company: Lionheart Holdings
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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 to be disclosed.

Class A Ordinary
Shares Subject to Possible Redemption

We
account for the Class A Ordinary Shares subject to possible redemption in accordance with the guidance in FASB ASC Topic 480, “Distinguishing
Liabilities from Equity”. Class A Ordinary Shares subject to mandatory redemption (if any) are classified as liability instruments
and measured at fair value. Conditionally redeemable Class A Ordinary Shares (including Class A Ordinary Shares that feature redemption
rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within
our control) are classified as temporary equity. At all other times, Class A Ordinary Shares are classified as shareholders’ equity.
All of the Public Shares feature certain redemption rights that are considered to be outside of our control and subject to the occurrence
of uncertain future events. Accordingly, Class A Ordinary Shares subject to possible redemption are presented at redemption value as temporary
equity, outside of the shareholders’ equity section of our unaudited condensed balance sheets included in this Report under Item
1. “Financial Statements”.

Net Income (Loss)
Per Ordinary Share

We
comply with the accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” Net income (loss) per
Ordinary Share is computed by dividing net income (loss) applicable to shareholders by the weighted average number of Ordinary Shares
outstanding for the applicable periods. We apply the two-class method in calculating earnings per Ordinary Share and allocate net income
(loss) pro rata to Class A Ordinary Shares subject to possible redemption, nonredeemable Class A Ordinary Shares and Class B Ordinary
Shares. Accretion associated with the redeemable Class A Ordinary Shares is excluded from earnings per share as the redemption value is
not in excess of the fair value.

Recent Accounting
Standards

In November 2023, the FASB
issued ASU 2023-07. The amendments in ASU 2023-07 require disclosures, on an annual and interim basis, of significant segment expenses
that are regularly provided to the CODM, as well as the aggregate amount of other segment items included in the reported measure of segment
profit or loss. ASU 2023-07 requires that a public entity disclose the title and position of the CODM and an explanation of how the CODM
uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. Public
entities will be required to