Company: FORL
Filing Date: 2025-08-27
Form Type: 10-Q
Source: 0001213900-25-080962
Chunk: 67

Company: Four Leaf Acquisition Corp
Filing Date: 2025-08-27
Form: 10-Q
Item: Part I, Item 1
Chunk 67
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 equity and are accreted from the initial carrying amount to the redemption value over
the period from the date of issuance to the earliest redemption date of the instrument on a straight-line basis. Subsequent to the IPO
date, the accretion also includes the dividend and interest income earned in the Trust Account in excess of income and franchise taxes.

The
change in the carrying value of Class A common stock subject to possible redemption resulted in charges against additional paid-in capital.
Subsequent to the IPO date, the Company accretes a portion of the accretion that reflects a redemption in excess of fair value, extension
deposits made into the Trust Account and dividend and interest income earned in the Trust Account in excess of income and franchise taxes.

Recently
Adopted Accounting Pronouncements

In
December 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-09 “Income Taxes (Topic 740): Improvements
to Income Tax Disclosures,” that addresses requests for improved income tax disclosures from investors that use the financial
statements to make capital allocation decisions. Public entities must adopt the new guidance for fiscal years beginning after December
15, 2024. The amendments in this ASU must be applied on a retrospective basis to all prior periods presented in the financial statements
and early adoption is permitted. We adopted this standard on January 1, 2025 and determined that the adoption does not have a material
impact on these unaudited condensed consolidated financial statements.

Recently
Issued Accounting Pronouncements

On
November 4, 2024, the FASB issued ASU 2024-03, Accounting Standards Update 2024-03, Income Statement-Reporting Comprehensive Income-Expense
Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses to improve financial reporting by requiring
that public business entities disclose additional information about specific expense categories in the notes to financial statements
at interim and annual reporting periods. The amendments in this ASU do not change or remove current expense disclosure requirements;
however, the amendments affect where such information appears in the notes to financial statements because entities are required to include
certain current disclosures in the same tabular format disclosure as the other disaggregation requirements in the amendments. This ASU
is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15,
2027. Early adoption is permitted. We are currently evaluating the potential