Company: TACOW
Filing Date: 2025-02-10
Form Type: DRS
Source: 0001829126-25-000836
Chunk: 145

Company: Berto Acquisition Corp.
Filing Date: 2025-02-10
Form: DRS
Chunk 145
---
 and reacting to changes in our business 
 and in the industry in which we operate;                                               |

| ● | increased vulnerability to adverse changes in general economic, industry and competitive 
 conditions and adverse changes in government regulation; and                             |

| ● | limitations on our ability to borrow additional amounts for expenses, capital expenditures, 
 acquisitions, debt service requirements, execution of our strategy and other purposes       
 and other disadvantages compared to our competitors who have less debt.                     |

As indicated in the accompanying financial statements,
at December 31, 2024, we had a working capital deficit of approximately $963,000. Further, we expect to continue to incur significant
costs in the pursuit of our acquisition plans. We cannot assure you that our plans to raise capital or to complete our initial business
combination will be successful.

<div align='center'>100</div>

Results of Operations and Known Trends or Future Events

We have neither engaged in any operations nor generated any revenues to date. Our
only activities since inception have been organizational activities and those necessary
to prepare for this offering. Following this offering, we will not generate any operating
revenues until after completion of our initial business combination. We expect to
generate non-operating income in the form of interest income on cash and cash equivalents after this offering.
After this offering, we expect to incur increased expenses as a result of being a
public company (for legal, financial reporting, accounting and auditing compliance),
as well as for due diligence expenses. We expect our expenses to increase substantially
after the closing of this offering.

Liquidity and Capital Resources

Our liquidity needs have been satisfied prior to the completion of this offering through
a capital contribution from our sponsor and its affiliates and a consultant, Meteora Capital LLC (the “Consultant” or “Meteora”) of $25,000 in exchange for the issuance of 7,187,500 ordinary shares (the “founder shares”), and up to $300,000 in loans available from our sponsor pursuant to a promissory note (the “Note”). As of December 31, 2024, we had approximately $34,000 of borrowings under the Note.

We estimate that the net proceeds from the sale
of the units in this offering of $250,000,000 (or $287,500,000 if the underwriters’ over-allotment option is exercised in
full), the sale of the private placement warrants for an aggregate purchase price of $4,000,000, after