Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 93

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 1
Chunk 93
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geographic region for purposes of consummating an initial business combination, although we intend to focus our search for a target business
on companies in the IoT space or adjacent spaces. “IoT” refers to the “Internet of Things,” that is, physical
objects (or groups of objects) with sensors, processing ability, software, and other technologies that connect and exchange data with
other devices and systems over the Internet or other communications networks, sometimes called “smart devices.” We will also
consider adjacent spaces such as devices, components or software that are used in IoT applications. We intend to target companies in both
developing markets (e.g., China and India), and the developed markets (e.g., United States and Europe). We affirmatively exclude as an
initial business combination target any company of which financial statements are audited by an accounting firm that the PCAOB is unable
to inspect for two consecutive years beginning in 2022 and any target company with China operations consolidated through a VIE structure.
Accordingly, in addition to the risk factors referred above, we have set forth some of the primary risks we have identified in seeking
to consummate our initial business combination with a company having its primary operations in the PRC.

We will not conduct an initial business combination with any target
company that conducts operations through VIEs, which may limit the pool of acquisition candidates we may acquire in the PRC and make it
more difficult and costly for us to consummate a business combination with a target business operating in the PRC.

Our sponsor and certain members of our board of directors and management
have significant business ties to or are based in the PRC and we may consider a business combination with an entity or business with a
physical presence or other significant ties to the PRC. Where PRC law prohibits direct foreign investment in certain companies located
in the PRC, such companies may conduct operations through VIEs as a means of providing the economic benefits of foreign investment in
such companies without investing directly. However, we will not conduct an initial business combination with any target company that conducts
operations through VIEs. As a result, this may limit the pool of acquisition candidates we may acquire in the PRC, in particular, due
to the relevant PRC laws and regulations against foreign ownership of and investment in certain assets and industries, known as restricted
industries, including but not limited to value-added telecommunications services such as internet content providers. Furthermore, this
may limit the pool of acquisition candidates