Company: FORL
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001213900-25-045609
Chunk: 58

Company: Four Leaf Acquisition Corp
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 58
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 to complete its initial business combination. We may also withdraw dividend and interest income earned in
the Trust Account to pay income and franchise taxes.

During the year ended
December 31, 2024, the Company withdrew $1,031,029 of interest and dividend income earned in the Trust Account for payment of the Company’s
franchise and income tax liabilities. As of March 31, 2025 and December 31, 2024, $126,150 and $99,006, respectively, of the funds were
inadvertently used for the payments of general operating expenses. The Company is expected to replenish these amounts via a Working Capital
Loan from its Sponsor or another similar type of financing.

The Initial Stockholders
have agreed not to propose any amendment to our Certificate of Incorporation that would affect our public stockholders’ ability
to convert or sell their shares to us in connection with a business combination as described herein or affect the substance or timing
of our obligation to redeem 100% of our Public Shares if we do not complete a business combination by June 22, 2025 unless we provide our public stockholders with the opportunity to redeem
their shares of Class A common stock upon the approval of any such amendment at a per-share price, payable in cash, equal to the aggregate
amount then on deposit in the Trust Account, including interest not previously released to the Company but net of franchise and income
taxes payable, divided by the number of then outstanding Public Shares.

31

The $1,264 held outside
of the Trust Account as of March 31, 2025 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 that a business combination is not consummated during that time.
Giving effect to the 2024 Charter Amendments discussed above, the Company has until June 22, 2025, to complete an initial business combination, subject to the Company making the required Trust Account
deposits. If an initial business combination is not consummated by June 22, 2025, there will be a mandatory liquidation and subsequent dissolution of the Company. The Company may need to raise
additional capital through loans or additional investments from its Sponsor, stockholders, officers, directors, or third parties. The
Company’s officers, directors and Sponsor may, but are not obligated to, loan the Company funds, from time to time or at any time,