Company: CUB
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001213900-25-074966
Chunk: 83

Company: Lionheart Holdings
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 8
Chunk 83
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for legal, financial reporting, accounting
and auditing compliance, among other things), as well as for due diligence expenses.

For the three months ended June 30, 2025, we
had a net income of $2,247,708, which consists of interest income on marketable securities held in the Trust Account of $2,477,873, offset
by operating costs of $230,165. For the six months ended June 30, 2025, we had net income of $4,446,406, which consists of interest income
on marketable securities held in the Trust Account of $4,925,132, offset by operating costs of $478,726.

For the three months ended June 30, 2024, we
had a net income of $129,478, which consists of interest income on marketable securities held in the Trust Account of $240,830, offset
by operating costs of $111,352.

For the period from February 21, 2024 (inception)
through June 30, 2024, we had net income of $107,218, which consists of interest income on marketable securities held in the Trust Account
of $240,830, offset by operating costs of $133,612.

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, fluctuations in interest rates, increases in tariffs, supply chain disruptions, declines in consumer
confidence and spending, public health considerations, and geopolitical instability, such as the military conflicts in Ukraine and the
Middle East. We cannot at this time predict the likelihood of one or more of the above events, their duration or magnitude or the extent
to which they may negatively impact our business and our ability to complete an initial Business Combination.

Liquidity and Going Concern

On March 8, 2024, the Sponsor
agreed to loan us an aggregate of up to $300,000 to cover expenses related to the Initial Public Offering pursuant to the IPO Promissory
Note. This loan was non-interest bearing and was payable on the earlier of