Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 1017

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 9A
Chunk 1017
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 at times may exceed the Federal Deposit Insurance Corporation coverage limit of $250,000.
Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition,
results of operations, and cash flows.

Warrant
Instruments

The
Company accounts for the Public Warrants and Private Placement Warrants issued in connection with the Initial Public Offering and the
Private Placement in accordance with the guidance contained in FASB ASC Topic 815, “Derivatives and Hedging”. Accordingly,
the Company evaluated and classified the warrant instruments under equity treatment at their assigned values.

Recent
Accounting Pronouncements

In
November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): “Improvements to Reportable Segment Disclosures”
(“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 chief operating officer decision maker (“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 provide all annual disclosures currently
required by FASB ASC Topic 280, “Segment Reporting,” (“ASC 280”) in interim periods, and entities with a
single reportable segment are required to provide all the disclosures required by the amendments in ASU 2023-07 and existing segment
disclosures in ASC 280. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal
years beginning after December 15, 2024, with early adoption permitted. The Company adopted ASU 2023-07 as required for the year ended
December 31, 2024. The adoption required the Company to provide additional disclosure, but otherwise it does not materially impact the
accompanying financial statement.

Management
does not believe that any other recently issued, but not effective, accounting standards, if currently adopted, would have a material
effect on the accompanying financial statement.

NOTE
3. PUBLIC OFFERING

Pursuant to the Initial Public Offering