Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 120

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 1
Chunk 120
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 on the price of
our securities. Also, such delisting and prohibition could significantly affect our ability to raise capital on acceptable terms, or at
all, which would have a material adverse effect on our business, financial condition, and prospects.

Inspections of audit firms that the PCAOB has conducted have identified
deficiencies in those firms’ audit procedures and quality control procedures, which may be addressed as part of the inspection process
to improve future audit quality. If the PCAOB were unable to conduct inspections or full investigations of our auditor, investors in our
securities would be deprived of the benefits of such PCAOB inspections. In addition, the inability of the PCAOB to conduct inspections
or full investigations of auditors would may make it more difficult to evaluate the effectiveness of our independent registered public
accounting firm’s audit procedures or quality control procedures as compared to auditors that are subject to the PCAOB inspections,
which could cause investors and potential investors in our stock to lose confidence in the audit procedures of our auditor and reported
financial information and the quality of our financial statements.

Additionally, other developments in U.S. laws and regulatory environment,
including but not limited to executive orders such as Executive Order (E.O.) 13959, “Addressing the Threat from Securities Investments
That Finance Communist Chinese Military Companies,” may further restrict our ability to complete a business combination with certain
China-based businesses.

U.S. regulatory bodies may be limited in their ability to conduct
investigations or inspections of the combined company’s operations within China.

The SEC, the U.S. Department of Justice, the PCAOB, and other U.S.
authorities may have difficulties in bringing and enforcing actions against the combined company or its directors or executive officers
in the PRC following the business combination. Shareholder claims that are common in the United States, including securities law class
actions and fraud claims, generally are difficult to pursue as a matter of law or practicality in the PRC. For example, in the PRC, there
are significant legal and other obstacles to obtaining information needed for shareholder investigations or litigation outside the PRC
or otherwise with respect to foreign entities. Although the local authorities in the PRC may establish a regulatory cooperation mechanism
with the securities regulatory authorities of another country or region to implement cross-border supervision and administration, such
regulatory cooperation with the securities regulatory authorities in the United States has not been efficient in the absence of mutual
and practical cooperation mechanism. According to Article 177 of the PRC Securities Law