Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 706

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 7
Chunk 706
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 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

Our
results of operations and our ability to complete an initial Business Combination may be adversely affected by various factors that could
cause economic uncertainty and volatility in the financial markets, many of which are beyond our control. Our results of operations and
our ability to consummate an initial Business Combination could be impacted by, among other things, downturns in the financial markets
or in economic conditions, increases in oil prices, inflation, increases in interest rates and tariffs, supply chain disruptions, declines
in consumer confidence and spending, public health considerations, and geopolitical instability, such as the military conflicts in Ukraine,
the Middle East and Southeast Asia. We cannot at this time predict the likelihood of one or more of the above events, their duration or
magnitude or the extent