Company: CUB
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042278
Chunk: 53

Company: Lionheart Holdings
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 8
Chunk 53
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 in the Trust Account to below the lesser of (i) $10.00 per
Public Share and (ii) the actual amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust
Account, if less than $10.00 per Public Share due to reductions in the value of the Trust Account assets, less taxes payable, if any,
provided that such liability will not apply to any claims by a third party or prospective target business who executed a waiver of any
and all rights to the monies held in the Trust Account (whether or not such waiver is enforceable) nor will it apply to any claims under
the Company’s indemnity of the underwriters of the Initial Public Offering against certain liabilities, including liabilities under
the Securities Act of 1933, as amended (the “Securities Act”). However, the Company has not asked the Sponsor to
reserve for such indemnification obligations, nor has the Company independently verified whether the Sponsor has sufficient funds to satisfy
its indemnity obligations and the Company believes that the Sponsor’s only assets are securities of the Company. Therefore, the
Company cannot assure investors that the Sponsor would be able to satisfy those obligations.

Liquidity and Capital Resources

As of March 31, 2025, the
Company had $697,678 of cash and working capital surplus of $707,802.

In connection with the Company’s
assessment of going concern considerations in accordance with FASB ASC Topic 205-40, “Presentation of Financials Statements –
Going Concern,” the Company has sufficient funds for the working capital needs of the Company until a minimum of one year from the
date of issuance of the accompanying unaudited condensed financial statements. The Company cannot assure investors that its plans to consummate
a Business Combination will be successful.

The Company does not believe
it will need to raise additional funds in order to meet the expenditures required for operating its business. However, if the Company’s
estimate of the costs of identifying a target business, undertaking in-depth due diligence and negotiating a Business Combination are
less than the actual amount necessary to do so, the Company may have insufficient funds available to operate its business prior to its
initial Business Combination. Moreover, the Company may need to obtain additional financing either to complete its Business Combination
or because the Company becomes obligated to redeem a significant number of its Public Shares upon completion of its Business Combination,
in which case the Company may issue additional securities or incur debt in connection with