Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 29

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1
Chunk 29
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 their redemption rights may reduce the resources available
to us for our initial Business Combination and our issued and outstanding Warrants, and the future dilution they potentially represent,
may not be viewed favorably by certain target businesses. Either of these factors may place us at a competitive disadvantage in successfully
negotiating an initial Business Combination.

Employees

We
currently have three officers: Messrs. Sternberg, Rapisarda and Diaz Cala. These individuals are not obligated to devote any specific
number of hours to our matters, but they devote as much of their time as they deem necessary to our affairs until we have completed our
initial Business Combination. The amount of time they devote in any time period varies based on whether a target business has been selected
for our initial Business Combination and the stage of the Business Combination process we are in. We do not intend to have any full time
employees prior to the completion of our initial Business Combination.

Periodic
Reporting and Financial Information

We
have registered our Units, Public Shares and Public Warrants under the Exchange Act and have reporting obligations, including the requirement
that we file annual, quarterly and current reports with the SEC. In accordance with the requirements of the Exchange Act, our annual
reports, including this Report, contain financial statements audited and reported on by our independent registered public accountants.

We
will provide shareholders with audited financial statements of the prospective target business as part of the proxy solicitation materials
or tender offer documents sent to shareholders to assist them in assessing the target business. In all likelihood, these financial statements
will need to be prepared in accordance with, or reconciled to, GAAP or IFRS, depending on the circumstances, and the historical financial
statements may be required to be audited in accordance with the standards of the PCAOB. These financial statement requirements may limit
the pool of potential target businesses we may conduct an initial Business Combination with because some targets may be unable to provide
such statements in time for us to disclose such statements in accordance with federal proxy rules and complete our initial Business Combination
within the prescribed time frame. We cannot assure you that any particular target business identified by us as a potential Business Combination
candidate will have financial statements prepared in accordance with the requirements outlined above, or that the potential target business
will be able to prepare its financial statements in accordance with the requirements outlined above. To the extent that these requirements
cannot be met, we may not be able to acquire the proposed target business. While this may limit the pool