Company: FORL
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001213900-25-045609
Chunk: 19

Company: Four Leaf Acquisition Corp
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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 Letter”) from Nasdaq informing the Company that it has not regained compliance
with Nasdaq Listing Rule 5550(b)(2) for the MVLS within the Compliance Period in accordance with Nasdaq Listing Rule 5810(c)(3)(C). Accordingly,
unless the Company requests an appeal of this determination, the Company’s securities will be delisted from The Nasdaq Capital Market,
trading of the Company’s Common Stock would be suspended at the opening of business on April 17, 2025, and a Form 25-NSE would be
filed with the Securities and Exchange Commission, which would remove the Company’s securities from listing and registration on
The Nasdaq Stock Market. The Company filed an appeal to such determinations pursuant to the procedures set forth in the Nasdaq Listing
Rule 5800 Series to stay the suspension of the Company’s securities and the filing of the Form 25-NSE pending the Panel’s
decision. The appeal hearing is scheduled to take place on May 20, 2025.

On April 17, 2025, the
Company received another notice from the staff of the Nasdaq Listing Qualifications department of Nasdaq stating that the Company’s
failure to file its Annual Report on Form 10-K for the year ended December 31, 2024 (the “Form 10-K”), serves a basis for
delisting the Company’s securities from Nasdaq. Accordingly, unless the Company timely requests an appeal of this determination,
the Company’s securities will be delisted from The Nasdaq Capital Market, trading of the Company’s Common Stock will be suspended
and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the Company’s securities from listing
and registration on The Nasdaq Stock Market. The Company filed the delinquent Form 10-K on April 30, 2025.

On April 21, 2025, the Company received another
notice from Nasdaq, which notified the Company that its failure to pay certain fees required by Listing Rule 5250(f) serves an additional
basis for delisting the Company’s securities from Nasdaq unless the Company appeals this determination. The Company subsequently
issued payment for the fees outstanding with Nasdaq.

11

Going
Concern Consideration

The $1,264
held outside of the Trust Account will not be sufficient to allow the Company to operate for at least the next 12 months from the issuance
of these unaudited condensed financial statements, assuming