Company: FORL
Filing Date: 2025-08-27
Form Type: 10-Q
Source: 0001213900-25-080962
Chunk: 41

Company: Four Leaf Acquisition Corp
Filing Date: 2025-08-27
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 $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 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. 

21

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.

NOTE
6 - COMMITMENTS AND CONTINGENCIES 

Registration
Rights 

The
holders of the Founder Shares, Private Placement Warrants, warrants that may be issued upon conversion of up to $2,000,000 of Working
Capital Loans (see Note 5), any shares of Class A common stock issuable upon the exercise of
the Private Placement Warrants and Class A common stock issuable upon conversion of the Founder Shares, are entitled to registration
rights pursuant to a registration rights agreement signed at the effective date of the IPO, requiring the Company to register such securities
for resale (in the case of the Founder Shares, only after conversion to Class A common stock