Company: FORL
Filing Date: 2025-08-27
Form Type: 10-Q
Source: 0001213900-25-080962
Chunk: 30

Company: Four Leaf Acquisition Corp
Filing Date: 2025-08-27
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 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 unaudited condensed 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. 

Business
Combination Costs

Costs
incurred in relation to a potential Business Combination may include legal, accounting, and other expenses. Any such costs are expensed
as incurred. The Company incurred approximately $50,000 and $100,000 in business combination costs for the three and six months ended
June 30, 2025, respectively.

Net
Income (Loss) Per Share 

The
Company complies with accounting and disclosure requirements of ASC 260, Earnings Per Share (“ASC 260”). Net income
(loss) per share is computed by dividing net income (loss) by the weighted average number of outstanding Class A common stock and Class
B common stock during the periods presented. 

The
Company’s unaudited condensed statements of operations include a presentation of net income (loss) per share subject to redemption
in a manner similar to the two-class method of income (loss) 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 (loss) per share.

The
Company’s Public Warrants and Private Placement Warrants totaling 5,200,000 and 5,576,900, respectively, 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
(loss) per share as the contingencies associated with the warrants had not been satisfied as of the end of the reporting periods