Company: FORL
Filing Date: 2025-08-27
Form Type: 10-Q
Source: 0001213900-25-080962
Chunk: 115

Company: Four Leaf Acquisition Corp
Filing Date: 2025-08-27
Form: 10-Q
Item: Part I, Item 2
Chunk 115
---
000,000 of the outstanding Working Capital Loans are convertible into Private Placement Warrants at a price of $1.00 per warrant.

As
of both June 30, 2025 and December 31, 2024, the Company had $2,000,000 of outstanding Working Capital Loans from the Sponsor, included
in Convertible note – related party in the accompanying unaudited condensed balance sheets. 

As
of June 30, 2025 and December 31, 2024, the Company had $1,116,100 and $195,100 respectively, included in Promissory note – related
party in the accompanying unaudited condensed balance sheets. 

38

Administrative
Support Agreement

On
March 22, 2023, the Company entered into the administrative support agreement under which it pays the Sponsor a total of $10,000
per month, up until the completion of the Company’s initial business combination or liquidation, for secretarial and administrative
services. The Company’s expenses related to the administrative support agreement were $30,000 and $60,000 for the three and six
months ended June 30, 2025, respectively. The Company’s expenses related to the administrative support agreement were $30,000
and $60,000 for the three and six months ended June 30, 2024, respectively. Upon completion of the initial business combination
or the Company’s liquidation, the Company will cease paying these monthly fees.

As
of June 30, 2025 and December 31, 2024, $242,180 and $182,180, respectively, of amounts due to the Sponsor under the Administrative Support
Agreement remain unpaid and are included in Due to Related Party on the Company’s unaudited condensed balance sheets.

Item
3. Quantitative and Qualitative Disclosures About Market Risk

The
Company is a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and is not required to provide the information
otherwise required under this item.

Item
4. Controls and Procedures

Limitations
on Effectiveness of Controls and Procedures

Disclosure
controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our
reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in
the SEC’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to
ensure