Company: FORL
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001213900-25-045609
Chunk: 57

Company: Four Leaf Acquisition Corp
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 57
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 in the Trust Account.

We have neither engaged
in any operations nor generated any revenues to date. Our only activities from March 3, 2022 (inception) to March 31, 2025 were organizational
activities and those necessary to consummate the IPO, identify a target company and consummate a business combination. We do not expect
to generate any operating revenues until after the completion of our business combination. We have generated and expected to generate
non-operating income in the form of dividend and interest income on marketable securities held in the Company’s Trust Account. We
have incurred and expect to incur expenses as a result of being a public company (for legal, financial reporting, accounting and auditing
compliance), as well as due diligence expenses.

Our liquidity needs prior
to the consummation of the IPO were satisfied through the proceeds of $25,000 from the sale of the Founder Shares, and loans from our
Sponsor. Subsequent to the consummation of the IPO, the Company’s liquidity needs have been and will continue to be satisfied through
the net proceeds held outside of the Trust Account from the consummation of the IPO and the Private Placement, and the Working Capital
Loans provided by the Sponsor (see below). In order to finance the Company’s operations as well as transaction costs in connection
with an initial business combination, our Sponsor, an affiliate of our Sponsor, or certain of our officers and directors or their affiliates
may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). The Working Capital Loans
are to be repaid upon consummation of a business combination, without interest, or, at the lender’s option, up to $2,000,000 of
the outstanding Working Capital Loans are convertible into warrants at a price of $1.00 per warrant. As of March 31, 2025, we had $2,551,100
of outstanding Working Capital Loans from our Sponsor.

As of March 31, 2025,
we had cash equivalents in the form of marketable securities in the Trust Account of $30,666,039. We intend to use substantially all of
the funds held in the Trust Account, including any amounts representing interest earned on the Trust Account (less deferred underwriting
commissions of $1,897,350) to complete its initial business combination, to the extent that our capital stock or debt is used, in whole
or in part, as consideration