Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 89

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1
Chunk 89
---
 (inception) through December
31, 2024. All accretions associated with the redeemable Class A ordinary shares are excluded from earnings per share as the redemption
value approximates fair value.

F-11

LIONHEART
HOLDINGS

NOTES
TO FINANCIAL STATEMENT

DECEMBER
31, 2024

The
following table reflects the calculation of basic and diluted net income per Ordinary Share (in dollars, except per share amounts):

    Class A  
    Class B 
  
    Basic and diluted net income per Ordinary Share: 

    Numerator: 

    Allocation
    of net income 
    $3,860,610  
    $1,979,046 
  
    Denominator: 

    Basic weighted average
    Ordinary Shares outstanding 
     14,210,191  
     7,284,501 
  
    Basic and diluted net
    income per Ordinary Share 
    $0.27  
    $0.27 

Concentration
of Credit Risk

Financial
instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution
and the cash held in the Trust Account, which, at times may exceed the Federal Deposit Insurance Corporation coverage limit of $250,000.
Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition,
results of operations, and cash flows.

Warrant
Instruments

The
Company accounts for the Public Warrants and Private Placement Warrants issued in connection with the Initial Public Offering and the
Private Placement in accordance with the guidance contained in FASB ASC Topic 815, “Derivatives and Hedging”. Accordingly,
the Company evaluated and classified the warrant instruments under equity treatment at their assigned values.

Recent
Accounting Pronouncements

In
November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): “Improvements to Reportable Segment Disclosures”
(“ASU 2023-07”). The amendments in ASU 2023-07 require disclosures, on an annual and interim basis, of significant segment
expenses that are regularly provided to the chief operating officer decision maker (“CODM”), as well as the aggregate amount
of other segment items included in the reported measure of segment profit or loss. ASU 2023-07 requires that a public entity disclose