Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 74

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1
Chunk 74
---
 are a public
accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to
be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations
of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB.
Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free
of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit
of its internal control over financial reporting. As part of our audit, we are required to obtain an understanding of internal control
over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control
over financial reporting. Accordingly, we express no such opinion.

Our audit included performing procedures to assess the risks of material
misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures
included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included
evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation
of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

/s/ WithumSmith+Brown, PC

We have served as the Company’s auditor since 2024.

New York, New York

March 21, 2025

PCAOB Number 100

F-2

LIONHEART
HOLDINGS

BALANCE
SHEET

DECEMBER
31, 2024

    Assets: 

    Current assets 

    Cash 
    $891,017 
  
    Prepaid expenses 
     10,034 
  
    Prepaid insurance 
     78,750 
  
    Total current assets 
     979,801 
  
    Long term prepaid insurance 
     91,875 
  
    Cash and marketable
    securities held in Trust Account 
     236,335,105 
  
    Total
    Assets 
    $237,406,781 

    Liabilities, Class A Ordinary
    Shares Subject To Possible Redemption and Shareholders’ Deficit: 

    Current liabilities 

    Accrued expenses 
    $5,000 
  
    Acc