Company: TACOW
Filing Date: 2025-06-12
Form Type: 10-Q
Source: 0001829126-25-004454
Chunk: 10

Company: Berto Acquisition Corp.
Filing Date: 2025-06-12
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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pts emerging growth companies from being required to comply with new or revised financial accounting standards
      until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not
      have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting
      standards. The JOBS Act provides that an emerging growth company can elect to opt out of the extended transition period and comply
      with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company
      has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has
      different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised
      standard at the time private companies adopt the new or revised standard. This may make a comparison of the Company’s financial
      statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted
      out of using the extended transition period difficult or impossible because of the potential differences in accounting standards
      used.
       
      Cash
      and Cash Equivalents
       
      The
      Company considers all highly liquid short-term investments with an original maturity of three months or less when purchased to
      be cash equivalents. The Company does not have any cash equivalents as of March 31, 2025 and December 31, 2024.
       
      Concentration
      of Credit Risk
       
      Financial
      instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution,
      which, at times, may exceed the Federal Deposit Insurance Corporation coverage limit of $250,000. As of March 31, 2025 and
      December 31, 2024, the Company has not experienced losses on these accounts.
       
      Use
      of Estimates
       
      The
      preparation of the unaudited condensed financial statements in conformity with GAAP requires the Company’s management to
      make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and
      liabilities at the date of the unaudited condensed financial statements and the reported amounts of expenses during the reporting
      period.
       
      Making
      estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect
      of a