Company: TACOW
Filing Date: 2025-04-15
Form Type: S-1/A
Source: 0001829126-25-002650
Chunk: 326

Company: Berto Acquisition Corp.
Filing Date: 2025-04-15
Form: S-1/A
Chunk 326
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 will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable
to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary,
to reduce deferred tax assets to the amount expected to be realized.

ASC Topic 740 prescribes a recognition threshold
and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken
in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination
by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s major tax jurisdiction.
The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. As of December 31,
2024, there were no unrecognized tax benefits and no amounts accrued for interest and penalties. The Company is currently not aware
of any issues under review that could result in significant payments, accruals or material deviation from its position.

The Company is considered to be an exempted
Cayman Islands company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income
tax filing requirements in the Cayman Islands or the United States. As such, the Company’s tax provision was zero for the
period presented.

Net Loss per Ordinary Share

Net loss per ordinary share is computed by
dividing net loss by the weighted average number of ordinary shares issued and outstanding during the period, excluding ordinary
shares subject to forfeiture. Weighted average shares were reduced for the effect of an aggregate of 937,500 Founder Shares (as
defined in Note 5) that are subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriters
(see Note 5). As of December 31, 2024, the Company did not have any dilutive securities and other contracts that could, potentially,
be exercised or converted into ordinary shares and then share in the earnings of the Company. As a result, diluted loss per share
is the same as basic loss per share for the period presented.

<div align='center'>F-12

BERTO ACQUISITION CORP.

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2024</div>

Recent Accounting Standards

In November 2023, the FASB issued Accounting Standards
Update (“ASU”) 2023-07, “Segment Reporting (Topic 280): Improvements