Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 1010

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 4
Chunk 1010
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 exempts emerging growth companies from being required to comply with new or revised financial accounting
standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not
have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards.
The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply
to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended
transition period which means that when a standard is issued or revised and it has different application dates for public or private companies,
the Company, as an emerging growth company, can adopt the new 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