Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 42

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1
Chunk 42
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 lenders or the owners of the target, other securities issuances, or a combination of the foregoing.

We
expect to continue to incur significant costs in the pursuit of our acquisition plans. We cannot assure you that our plans to complete
a Business Combination will be successful.

We may seek to extend the
Combination Period consistent with applicable laws, regulations and stock exchange rules by amending our Amended and Restated Charter.
Such an amendment would require the approval of our Public Shareholders, who will be provided the opportunity to redeem all or a portion
of their Public Shares in connection with the vote on such approval. Such redemptions will decrease the amount held in our Trust Account
and our capitalization, and may affect our ability to maintain our listing on Nasdaq. In addition, the Nasdaq Rules currently require
SPACs (such as us) to complete our initial Business Combination in accordance with the Nasdaq 36-Month Requirement. If we do not meet
the Nasdaq 36-Month Requirement, our securities will likely be subject to a suspension of trading and delisting from Nasdaq. Our Sponsor
may also, in its discretion, explore transactions under which it would sell its interest in our Company to another sponsor entity, which
may result in a change to our Management Team.

Results
of Operations

We
have neither engaged in any operations nor generated any revenues to date. Our only activities from February 21, 2024 (inception) through
December 31, 2024 were organizational activities, those necessary to prepare for the Initial Public Offering, described below, completion
of the Initial Public Offering, and following the Initial Public Offering, identifying a target company for a Business Combination. We
do not expect to generate any operating revenues until after the completion of our Business Combination. We generate non-operating income
in the form of interest income on marketable securities held in the Trust Account. We incur expenses as a result of being a public company
(for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.

22

For
the period from February 21, 2024 (inception) through December 31, 2024, we had net income of $5,839,656, which consists of interest
income on marketable securities held in the Trust Account of $6,335,105, offset by general and administrative and formation costs of
$495,449.

Factors That May
Adversely Affect our Results of Operations