Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 540

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 1B
Chunk 540
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 or revised standard at the time private companies adopt the new or revised
standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging
growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because
of the potential differences in accounting standards used. 

Net Income
Per Share 

The Company
complies with accounting and disclosure requirements of ASC 260, Earnings Per Share (“ASC 260”). Net income per share
is computed by dividing net income by the weighted average number of outstanding Class A common stock and Class B common stock during
the periods presented. 

The Company’s
statements of operations include a presentation of net income per share subject to redemption in a manner similar to the two-class method
of income per share. With respect to the accretion of the Class A common stock subject to possible redemption and consistent with ASC
480-10-S99-3A, the Company deemed the fair value of the Class A common stock subject to possible redemption to approximate the contractual
redemption value and as such, the accretion has no impact on the calculation of net income per share. 

The
Company’s Public Warrants (see Note 3) and Private Placement Warrants, including from the conversion of the Working Capital
Loans (see Notes 4 and 6) could, potentially, be exercised or converted into Class A common stock and then share in the earnings of
the Company. However, these warrants were excluded when calculating diluted income per share as the contingencies associated
with the warrants had not been satisfied as of the end of the reporting periods presented. As a result, diluted income per share is
the same as basic income per share for the periods presented.

F-16

A reconciliation of net income
per share is as follows for the year ended December 31, 2024:

    Class A subject to possible redemption  
    Class A Perm  
    Class B 
  
    Allocation of undistributable income 
    $297,005  
    $4,086  
    $102,173 
  
    Weighted average shares outstanding, basic and diluted 
     3,939,567  
     54,210  
     1,355,250 
  
    Basic and diluted net income per share 
    $0.08  
    $0.08  
    $0.08 

A reconciliation
of net income per share is