Company: QSEA
Filing Date: 2025-07-10
Form Type: 10-Q
Source: 0001829126-25-005007
Chunk: 1

Company: Quartzsea Acquisition Corp
Filing Date: 2025-07-10
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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    Accumulated deficit

    (2,779,577
    )

    (10,166
    )
  
    Total Shareholders’ (Deficit) Equity

    (2,779,264
    )

    14,834

    Total Liabilities, Ordinary Shares Subject to Possible Redemption and Shareholders’ (Deficit) Equity
     
    $
    84,285,996

    $
    516,000

    (1)

    Ordinary shares have been retroactively restated to reflect two amendments to the Subscription Agreement, which allowed the Sponsor to increase the purchase of ordinary shares initially from 1,725,000 to 2,415,000, then to 2,898,000 shares for $25,000, including an aggregate of up to 378,000 ordinary shares subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriters (see Note 5).
                     
                    As a result of the underwriter full exercise of its over-allotment option to purchase 1,080,000 units on March 19, 2025, no shares were subject to forfeiture.  

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

1

QUARTZSEA ACQUISITION CORPORATION

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

    For the Three Months Ended May 31, 2025

    For theSix Months EndedMay 31, 2025

    General and administrative expenses
     
    $
    727,747

    $
    761,251

    Loss from Operations

    (727,747
    )

    (761,251
    )

    Other income:

    Interest income

    7,655

    9,904

    Interest earned on investments held in Trust Account

    692,945

    692,945

    Total other income

    700,600

    702,849

    Net loss
     
    $
    (27,147
    )
     
    $
    (58,402
    )

    Basic and diluted weighted average shares outstanding, ordinary shares subject to possible redemption

    6,570,000

    3,321,099

    Basic and diluted net loss per share, ordinary shares subject to possible redemption
     
    $
    (0.00
    )
     
    $