Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 253

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 1A
Chunk 253
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 competitors possess greater technical, human and other resources or more industry knowledge
than we do, and our financial resources will be relatively limited when contrasted with those of many of these competitors. While we believe
there are numerous target businesses we could potentially acquire with the net proceeds of the Initial Public Offering and the sale of
the Private Placement Warrants, our ability to compete with respect to the acquisition of certain target businesses that are sizable will
be limited by our available financial resources. This inherent competitive limitation gives others an advantage in pursuing the acquisition
of certain target businesses. Furthermore, because we are obligated to pay cash for the shares of Class A common stock which our public
stockholders redeem in connection with our initial business combination, target companies will be aware that this may reduce the resources
available to us for our initial business combination. This may place us at a competitive disadvantage in successfully negotiating and
completing an initial business combination. If we are unable to complete our initial business combination, our public stockholders may
receive only their pro rata portion of the funds in the trust account available on the liquidation of our trust account and our warrants
will expire worthless.

If the net proceeds of our Initial Public Offering and the sale
of the Private Placement Warrants not being held in the trust account are insufficient to allow us to operate through May 22, 2025 (or
June 22, 2025 if we fully extend the period of time to consummate a business combination), we may be unable to complete our initial business
combination, in which case our public stockholders may receive only their pro rata portion of the funds in the trust account available
on redemption, or less than such amount in certain circumstances, and our warrants will expire worthless.

At the closing of the Initial Public Offering and the Private Placement,
we originally had $974,028 available to us outside the trust account. As of December 31, 2024, we had $28,407 in cash and we have had
to borrow an aggregate of $2,195,100 from our Sponsor in order to continue funding working capital requirements and our search for a target
business. If we are required to seek even more additional capital, we would need to borrow funds from our Sponsor, members of our management
team or an affiliate thereof or other third parties to operate or may be forced to liquidate. Neither our Sponsor, members of our management
team nor any of their affiliates is under any obligation to advance funds to us in such circumstances.