Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 284

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 1A
Chunk 284
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 our post-combination business. The role of an initial business combination candidate’s key personnel upon the completion of our
initial business combination cannot be ascertained at this time. Although we contemplate that certain members of an initial business combination
candidate’s management team will remain associated with the initial business combination candidate following our initial business
combination, it is possible that members of the management of an initial business combination candidate will not wish to remain in place.
The loss of key personnel could negatively impact the operations and profitability of our post-combination business.

We may only be able to complete one business combination with the
proceeds of the Initial Public Offering, the sale of the Private Placement Warrants, which will cause us to be solely dependent on a single
business which may have a limited number of services and limited operating activities. This lack of diversification may negatively impact
our operating results and profitability.

As of December 31, 2024, we had cash in the Trust Account of $30,124,557 assuming
no redemptions and before future payment of $1,897,350 of deferred underwriting fees, before any franchise and income taxes, and before
fees and expenses associated with our initial business combination. We may effectuate our initial business combination with a single target
business or multiple target businesses simultaneously or within a short period of time. However, we may not be able to effectuate our
initial business combination with more than one target business because of various factors, including the existence of complex accounting
issues and the requirement that we prepare and file pro forma financial statements with the SEC that present operating results and the
financial condition of several target businesses as if they had been operated on a combined basis. By completing our initial business
combination with only a single entity, our lack of diversification may subject us to numerous economic, competitive and regulatory developments.
Further, we would not be able to diversify our operations or benefit from the possible spreading of risks or offsetting of losses, unlike
other entities that may have the resources to complete several business combinations in different industries or different areas of a single
industry. In addition, we intend to focus our search for an initial business combination in a single industry. Accordingly, the prospects
for our success may be:

●solely dependent upon the performance of a single business, property or asset, or

●dependent upon the development or market acceptance of a single or limited number of products, processes or services.

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This lack of diversification may subject us to