Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 421

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 3
Chunk 421
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, has engaged Wasserstrom to represent Lionheart Capital and its affiliated companies, as corporate
general counsel and otherwise in connection with any corporate and/or transactional matters. The engagement letter between Lionheart
Capital and Wasserstrom is for an indefinite period only subject to termination rights of either party, of which no termination has occurred
since the agreement was executed. Jessica Wasserstrom, the principal of Wasserstrom, currently holds the title of Chief Legal Officer
of Lionheart Capital and its affiliated companies.

In
connection therewith, Wasserstrom was specifically engaged by us to provide counsel for general corporate legal matters. As of December
31, 2024, we incurred an aggregate of $175,000 of legal fees from Wasserstrom, which were recorded within accrued offering costs in the
financial statement contained elsewhere in this Report. On June 25, 2024, we paid $50,000 and the remaining $125,000 is recorded within
deferred legal fees since it is due at the time of the Business Combination.

Critical
Accounting Estimates

The preparation of the audited
financial statement and related disclosures contained elsewhere in this Report in conformity with GAAP requires Management to make estimates
and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date
of the financial statement, and income and expenses during the periods reported. Making estimates requires Management to exercise significant
judgement. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed
at the date of the financial statements contained elsewhere in this Report, which Management consider in formulating its estimated, could
change in the near term due to one or more future confirming events. Accordingly, the actual results could materially differ from those
estimates. As of December 31, 2024, we did not have any critical accounting estimates to be disclosed.

Item
7A. Quantitative and Qualitative Disclosures about Market Risk.

We
are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information otherwise
required under this Item.

24

Item
8. Financial Statements and Supplementary Data.

Reference is made to pages F-1 through F-19 comprising a portion of
this Report, which are incorporated herein by reference.

Item
9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.

None.

Item
9A. Controls and Procedures.

Evaluation
of Disclosure Controls and