Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 702

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 2
Chunk 702
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 may be withdrawn to pay taxes. This liability will not apply with respect
to any claims by a third party who executed a waiver of any and all rights to seek access to the Trust Account and except as to any claims
under the Company’s indemnity of the underwriter of the IPO against certain liabilities, including liabilities under the Securities
Act of 1933, as amended (the “Securities Act”). Moreover, in the event that an executed waiver is deemed to be unenforceable
against a third party, the Sponsor will not be responsible to the extent of any liability for such third-party claims. The Company will
seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account due to claims of creditors by endeavoring to
have all vendors, service providers (except the Company’s independent registered public accounting firm), prospective target businesses
or other entities with which the Company does business, execute agreements with the Company waiving any right, title, interest or claim
of any kind in or to monies held in the Trust Account. 

Liquidity, Capital Resources and Going Concern 

At December 31, 2024, we had cash of $28,407 and
a working capital deficit of $3,334,790, excluding the franchise and income tax liabilities, as these tax liabilities will be 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 consum