Company: CUB
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042278
Chunk: 32

Company: Lionheart Holdings
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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 Shares in connection with the vote on such approval. Such redemptions will decrease the amount held in our Trust Account
and our capitalization, and may affect our ability to maintain our listing on 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.

19

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
March 31, 2025 were organizational activities, those necessary to prepare for the Initial Public Offering, 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, among other things), as well as for due diligence expenses.

For
the three months ended March 31, 2025, we had  net income of $2,198,698, which consists of dividend income on marketable securities held
in the Trust Account of $2,447,259, offset by general and administrative and formation costs of $248,561. 

For
the period from February 21, 2024 (inception) through March 31, 2024, we had net loss of $22,260, which consists of general and administrative
and formation costs.

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