Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 1020

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 4
Chunk 1020
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 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. 

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 $120,000 and $90,000 for the years ended December 31, 2024 and 2023, respectively. Upon completion
of the initial business combination or the Company’s liquidation, the Company will cease paying these monthly fees. As of December
31, 2024 and 2023, $182,180 and $62,180, 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 balance sheets.

F-21

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