Company: QSEA
Filing Date: 2025-03-12
Form Type: S-1/A
Source: 0001829126-25-001750
Chunk: 263

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-12
Form: S-1/A
Chunk 263
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abilities and Shareholder’s Equity                                                                 |     | $            | 516,000 |   |

| (1) | Ordinary shares have been retroactively restated to                                                                                      
 reflect an amendment to the Subscription Agreement, which allowed the Sponsor to increase the purchase of ordinary shares from 1,725,000 
 to 2,415,000 shares for $25,000, including an aggregate of up to 315,000 ordinary shares subject to forfeiture if the over-allotment     
 option is not exercised in full or in part by the underwriters (see Note 5 and Note 9).                                                  |

<div align='center'>The accompanying notes are an integral part of these
financial statements.

F-3</div>

<div align='center'>QUARTZSEA ACQUISITION CORPORATION

STATEMENT OF OPERATIONS

FOR THE PERIOD FROM NOVEMBER 5, 2024 (INCEPTION) THROUGH NOVEMBER 30, 2024</div>

| Formation                                          
 and operating costs                                |     | $ |    10,166 |   |
| Net                                                
 loss                                               |     | $ |   (10,166 | ) |
| Basic                                              
 and diluted weighted average shares outstanding(1) |     |   | 2,100,000 |   |
| Basic                                              
 and diluted net loss per ordinary share            |     | $ |     (0.01 | ) |

| (1) | Excludes an aggregate of up to 315,000 shares of ordinary                                                                            
 shares subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriters (see Note 5).      
 Ordinary shares have been retroactively restated to reflect an amendment to the Subscription Agreement, which allowed the Sponsor to 
 increase the purchase of ordinary shares from 1,725,000 to 2,415,000 shares for $25,000, including an aggregate of up to 315,000     
 ordinary shares subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriters (see Note 
 5 and Note 9).                                                                                                                       |

<div align='center'>The accompanying notes are an integral part of these
financial statements.

F-4</div>

<div align='center'>QUARTZSEA ACQUISITION CORPORATION

STATEMENT OF CHANGES IN SHAREHOLDER’S EQUITY

FOR THE PERIOD FROM NOVEMBER 5, 2024 (INCEPTION) THROUGH