Company: FORL
Filing Date: 2025-08-27
Form Type: 10-Q
Source: 0001213900-25-080962
Chunk: 61

Company: Four Leaf Acquisition Corp
Filing Date: 2025-08-27
Form: 10-Q
Item: Part I, Item 1
Chunk 61
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 dividend and interest income earned in the Trust Account.

We
have neither engaged in any operations nor generated any revenues to date. Our only activities from March 3, 2022 (inception) to
June 30, 2025 were organizational activities and those necessary to consummate the IPO and identify a target company for a business
combination. We do not expect to generate any operating revenues until after the completion of our business combination. We have generated
and expected to generate non-operating income in the form of dividend and interest income on marketable securities held in the Company’s
Trust Account. We have incurred and expect to incur expenses as a result of being a public company (for legal, financial reporting, accounting
and auditing compliance), as well as for due diligence expenses.

Our
liquidity needs prior to the consummation of the IPO were satisfied through the proceeds of $25,000 from the sale of the Founder Shares,
and loans from our Sponsor. Subsequent to the consummation of the IPO, the Company’s liquidity needs have been and will continue
to be satisfied through the net proceeds held outside of the Trust Account from the consummation of the IPO and the Private Placement,
and the Working Capital Loans provided by the Sponsor (see below). In order to finance the Company’s operations as well as transaction
costs in connection with an initial business combination, our Sponsor, an affiliate of our Sponsor, or certain of our officers and directors
or their affiliates may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). The
Working Capital Loans are to be repaid upon 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 warrants at a price of $1.00 per warrant. As of June 30,
2025, we had $3,116,100 of outstanding Working Capital Loans from our Sponsor.

As
of June 30, 2025, we had cash in the Trust Account of $11,354,936, which excludes $19,856,826 of restricted cash to be used for
pending Class A common stock redemptions, which occurred on June 27, 2025. We intend to use substantially all of the funds held in the
Trust Account, including any amounts representing interest earned on the Trust Account (less deferred underwriting commissions of $1,897,350)
to complete the