Company: CUB
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042278
Chunk: 3

Company: Lionheart Holdings
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 3
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 of Class B Ordinary Shares 
     —  
     —  
     7,666,667  
     767  
     24,233  
     —  
     25,000 

    Net loss 
     —  
     —  
     —  
     —  
     —  
     (22,260) 
     (22,260)

    Balance – March 31, 2024 
     —  
    $—  
     7,666,667  
    $767  
    $24,233  
    $(22,260) 
    $2,740 

The accompanying notes are an integral part of
the unaudited condensed financial statements.

3

LIONHEART HOLDINGS

CONDENSED STATEMENT OF CASH FLOWS
(UNAUDITED)

    For the Three
 Months Ended 
March 31,  
    For the 
Period from
 February 21,
 2024
 (Inception)
 Through
 March 31, 

    2025  
    2024 
  
    Cash Flows from Operating Activities: 

    Net income (loss) 
    $2,198,698  
    $(22,260)
  
    Adjustments to reconcile net income (loss) to net cash used in operating activities: 

    Payment of formation costs through IPO Promissory Note 
     —  
     5,000 
  
    Dividend earned on marketable securities held in Trust Account 
     (2,447,259) 
     — 
  
    Changes in operating assets and liabilities: 

    Prepaid expenses 
     (58,429) 
     (16,600)
  
    Long-term prepaid insurance 
     6,562  
     — 
  
    Accrued expenses 
     57,089  
     11,917 
  
    Deferred legal fee payable 
     50,000  
     — 
  
    Net cash used in operating activities 
     (193,339) 
     (21,943)

    Cash Flows from Financing Activities: 

    Proceeds from issuance of Class B Ordinary Shares to Sponsor 
     —  
     25,000 
  
    Proceeds from IPO Promissory Note - related party