Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 467

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 1B
Chunk 467
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 paid using
the dividend and interest income earned 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 December 31, 2024 were organizational activities
and those necessary to consummate the IPO and identify a target company for 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
for 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 December 31, 2024, we had $2,195,100 of outstanding
Working Capital Loans from our Sponsor.

As of December 31, 2024, we had cash equivalents
in the form of marketable securities in the Trust Account of $30,124,557. 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