Company: CUB
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042278
Chunk: 73

Company: Lionheart Holdings
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 8
Chunk 73
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 information about operating segments, products, services, geographic areas, and major
customers. “Operating segments” are defined as components of an enterprise that engage in business activities from which it
may recognize revenues and incur expenses, and for which separate financial information is available that is regularly evaluated by a
CODM, or group, in deciding how to allocate resources and assess performance.

The Company’s CODM has
been identified as the Chief Financial Officer, who reviews the assets, operating results, and financial metrics for the Company as a
whole to make decisions about allocating resources and assessing financial performance. Accordingly, Management has determined that there
is only one reportable segment.

The CODM assesses performance
for the single segment and decides how to allocate resources based on net income that also is reported on the statement of operations
as net income. The measure of segment assets is reported on the balance sheet as total assets. When evaluating the Company’s performance
and making key decisions regarding resource allocation, the CODM reviews several key metrics included in net income and total assets,
which include the following:

    March 31,
 2025  
    December 31,
 2024 
  
    Trust Account 
    $238,782,364  
    $236,335,105 
  
    Cash 
    $697,678  
    $891,017 

    For the Three Months Ended March 31, 2025  
    For the Period  from February 21,  2024  (Inception) Through March 31,  2024 
  
    General and administrative and formation costs 
    $248,561  
    $22,260 
  
    Dividend earned on marketable securities held in Trust Account 
    $2,447,259  
    $— 

The CODM reviews interest
earned on the Trust Account to measure and monitor shareholder value and determine the most effective strategy of investment with the
Trust Account funds while maintaining compliance with the Investment Management Trust Agreement, dated June 17, 2024, which the Company
entered into with Continental, as trustee of the Trust Account.

General and administrative
expenses are reviewed and monitored by the CODM to manage and forecast cash to ensure enough capital is available to complete a Business
Combination or similar transaction within the Combination Period. The CODM also reviews general and administrative costs to manage, maintain
and enforce all contractual agreements to ensure costs are aligned with all agreements and budget. General and administrative costs,