Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 772

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 2
Chunk 772
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 security
operations and catastrophic events such as fires, floods, earthquakes, tornadoes, hurricanes and global health epidemics), may also
contribute to increased market volatility and economic uncertainties or deterioration in the U.S. and worldwide. Specifically, the
conflict between Russia and Ukraine and the Israel-Hamas war and resulting market volatility could adversely affect the
Company’s ability to complete a business combination. In response to the conflict between Russia and Ukraine and Israel and
Hamas, the U.S. and other countries have imposed sanctions or other restrictive actions which could have a material adverse effect
on the Company’s ability to complete a Business Combination and the value of the Company’s securities. The Company
cannot at this time fully predict the likelihood of one or more of the above events, their duration or magnitude or the
extent to which they may negatively impact our business and our ability to complete an Initial Business Combination. The
Company’s financial statements do not include any adjustments that might result from the outcome of these uncertainties.

F-14

Inflation
Reduction Act of 2022 

On August
16, 2022, the Inflation Reduction Act of 2022 (the “IRA”) was signed into federal law. The IRA provides for, among other things,
a new U.S. federal 1% excise tax on certain repurchases of stock by publicly traded U.S. domestic corporations and certain U.S. domestic
subsidiaries of publicly traded foreign corporations occurring on or after January 1, 2023. The excise tax is imposed on the repurchasing
corporation itself, not its shareholders from which shares are repurchased. The amount of the excise tax is generally 1% of the fair market
value of the shares repurchased at the time of the repurchase. However, for purposes of calculating the excise tax, repurchasing corporations
are permitted to net the fair market value of certain new stock issuances against the fair market value of stock repurchases during the
same taxable year. In addition, certain exceptions apply to the excise tax. The U.S. Department of the Treasury (the “Treasury”)
has been given authority to provide regulations and other guidance to carry out and prevent the abuse or avoidance of the excise tax.

On December
27, 2022, the U.S. Department of the Treasury issued Notice 2023-2 (the “Notice”) as interim guidance until publication of
forthcoming proposed regulations on the excise tax.