Company: CUB
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001213900-25-074966
Chunk: 19

Company: Lionheart Holdings
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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 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 Accounting Standards Update 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
the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing
segment performance and deciding how to allocate resources. Public entities will be required to provide all annual disclosures currently
required by FASB ASC Topic 280, “Segment Reporting,” (“ASC 280”) in interim periods, and entities with a
single reportable segment are required to provide all the disclosures required by the amendments in ASU 2023-07 and existing segment
disclosures in ASC 280. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal
years beginning after December 15, 2024, with early adoption permitted. The Company adopted ASU 2023-07 as required for the period ended
June 30, 2025. The adoption required the Company to provide additional disclosure, but otherwise it does not materially impact the accompanying
condensed financial statements.

In November 2024, the FASB
issued Accounting Standards Update (“ASU”) 2024-03, “Income Statement-Reporting Comprehensive Income-Expense Disaggregation
Disclosures (Subtopic 220-40): Disaggregation of