Company: FORL
Filing Date: 2025-08-27
Form Type: 10-Q
Source: 0001213900-25-080962
Chunk: 73

Company: Four Leaf Acquisition Corp
Filing Date: 2025-08-27
Form: 10-Q
Item: Part I, Item 1
Chunk 73
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 Extension, Third 2025 Monthly Extension, Fourth 2025 Monthly Extension, Fifth 2025 Monthly Extension, and Sixth 2025
Monthly Extension.

During
the year ended December 31, 2024, the Company received from the Sponsor $1,923,100 in Working Capital Loans, of which $856,100 was utilized
for working capital needs, $542,000 was utilized to fund the Initial Extension and $525,000 was utilized to fund the First 2024 Monthly
Extension, Second 2024 Monthly Extension, Third 2024 Monthly Extension, Fourth 2024 Monthly Extension, Fifth 2024 Monthly Extension,
Sixth 2024 Monthly Extension and Seventh 2024 Monthly Extension. 

The
Working Capital Loans are to be repaid upon the 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 Private Placement Warrants at a price of $1.00 per warrant.

As
of both June 30, 2025 and December 31, 2024, the Company had $2,000,000 of outstanding Working Capital Loans from the Sponsor, included
in Convertible note – related party in the accompanying unaudited condensed balance sheets. 

As
of June 30, 2025 and December 31, 2024, the Company had $1,116,100 and $195,100 respectively, included in Promissory note – related
party in the accompanying unaudited condensed balance sheets. 

38

Administrative
Support Agreement

On
March 22, 2023, the Company entered into the administrative support agreement under which it pays the Sponsor a total of $10,000
per month, up until the completion of the Company’s initial business combination or liquidation, for secretarial and administrative
services. The Company’s expenses related to the administrative support agreement were $30,000 and $60,000 for the three and six
months ended June 30, 2025, respectively. The Company’s expenses related to the administrative support agreement were $30,000
and $60,000 for the three and six months ended June 30, 2024, respectively. Upon completion of the initial business combination
or the Company’s liquidation, the Company will cease paying these monthly fees.

As
of June 30, 2025 and December 31, 2024, $