Company: QSEA
Filing Date: 2025-10-20
Form Type: 10-Q
Source: 0001829126-25-008252
Chunk: 0

Company: Quartzsea Acquisition Corp
Filing Date: 2025-10-20
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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QUARTZSEA ACQUISITION CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

        August 31,2025

    November 30, 2024

    (Unaudited)

    Assets:

    Current Assets

    Cash
     
    $
    106,772

    $
    311,000

    Prepaid expenses

    99,567

    15,000

    Total Current Assets

    206,339

    326,000

    Deferred offering costs

    -

    190,000

    Prepaid expenses 

    49,810

    -

    Investments held in Trust Account

    84,372,491

    -

    Total Assets
     
    $
    84,628,640

    $
    516,000

    Liabilities, Ordinary Shares Subject to Possible Redemption and Shareholders’ (Deficit) Equity

    Current Liabilities

    Accounts payable and accrued expenses
     
    $
    284,112

    $
    1,166

    Promissory note – related party

    -

    500,000

    Total Current Liabilities

    284,112

    501,166

    Deferred underwriting fee payable

    3,312,000

    -

    Total Liabilities

    3,596,112

    501,166

    Commitments and Contingencies – see Note 6

    Ordinary shares subject to possible redemption, 8,280,000 shares and 0 shares at redemption value of $10.19 and $0 per share as of August 31, 2025 and November 30, 2024, respectively 

    84,372,491

    -

    Shareholders’ (Deficit) Equity

    Ordinary shares, $0.0001 par value; 500,000,000 shares authorized; 3,129,900 shares and 2,898,000(1) issued and outstanding, respectively as of August 31, 2025 and November 30, 2024 (excluding 8,280,000 and 0 shares subject to possible redemption as of August 31, 2025 and November 30, 2024, respectively)

    313

    290

    Additional paid-in capital

    -

    24,710

    Accumulated deficit

    (3,340,276
    )