Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 1325

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 7
Chunk 1325
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 close, we may
use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans but no proceeds held in the Trust Account
would be used to repay the Working Capital Loans.

During the year ended December
31, 2024, the Company received from the Sponsor $1,923,100 in Working Capital Loans, of which $856,100 was utilized for working capital
needs, $542,000 was utilized to fund the Initial Extension and $525,000 was utilized to fund the First 2024 Monthly Extension, Second
2024 Monthly Extension, Third 2024 Monthly Extension, Fourth 2024 Monthly Extension, Fifth 2024 Monthly Extension, Sixth 2024 Monthly
Extension and Seventh 2024 Monthly Extension. The Working Capital Loans are to be repaid upon the 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 Private
Placement Warrants at a price of $1.00 per warrant. As of December 31, 2024 and 2023, the Company had $2,000,000 and $272,000, respectively,
of outstanding Working Capital Loans from the Sponsor, included in Convertible note – related party in the accompanying balance
sheets. As of December 31, 2024 and 2023, the Company had $191,100 and $0 respectively, included in Promissory note – related party
in the accompanying balance sheets.

After our initial business combination, members of our management team
who remain with us may be paid consulting, management or other fees from the combined company with any and all amounts being fully disclosed
to our stockholders, to the extent then known, in the tender offer or proxy solicitation materials, as applicable, furnished to our stockholders.
It is unlikely the amount of such compensation will be known at the time of distribution of such tender offer materials or at the time
of a stockholder meeting held to consider our initial business combination, as applicable, as it will be up to the directors of the post-combination
business to determine executive and director compensation.

The holders of Founder Shares, Private Placement Warrants and warrants
that may be issued upon conversion of Working Capital Loans, if any (and any shares of common stock issuable upon the exercise of the
Private Placement Warrants and warrants that may be issued upon conversion of Working Capital Loans and upon conversion of the Founder
Shares