Company: FORL
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001213900-25-045609
Chunk: 59

Company: Four Leaf Acquisition Corp
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 59
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in whatever amount they deem reasonable in their sole discretion, to meet the Company’s working capital needs and provide for the
required monthly extension Trust Account deposits. Accordingly, the Company may not be able to obtain additional financing. If the Company
is unable to raise additional capital, it may be required to take additional measures to conserve liquidity, which could include, but
not necessarily be limited to, curtailing operations, suspending the pursuit of a potential transaction, and reducing overhead expenses.
The Company cannot provide any assurance that new financing will be available to it on commercially acceptable terms, if at all.

Management has determined
that our liquidity condition, potential mandatory liquidation and subsequent dissolution raise substantial doubt about the Company’s
ability to continue as a going concern, assuming a Business Combination is not consummated before June 22, 2025. Our financial statements
do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be
necessary should the Company be unable to continue as a going concern.

We believe that the proceeds
raised in the IPO and the funds potentially available from loans from the Sponsor or any of their affiliates will be sufficient to allow
us to meet the expenditures required for its activities until a business combination is complete. However, if the estimate of the costs
of identifying a target business, undertaking in-depth due diligence and negotiating an initial business combination are less than the
actual amount necessary to do so, we may have insufficient funds available to operate our business prior to the initial business combination.
Moreover, we may need to obtain additional financing either to complete the initial business combination or because we become obligated
to redeem a significant number of Public Shares upon completion of the initial business combination, in which case we may issue additional
securities or incur debt in connection with such initial business combination.

Results of Operations

Since the IPO, the Company’s
activity has been limited to the search for a prospective initial business combination and activities to complete the business combination
with Xiaoyu Dida. The Company will not generate any operating revenues until the closing
and completion of an initial business combination, at the earliest.

For the three months
ended March 31, 2025, the Company had a net loss of $59,229, which was primarily related to $314,815 of formation and operating costs
and $60,896 of income tax expense, partially offset by $316,482 of dividend and interest income earned in the Trust Account. For the three
months ended March