Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 378

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 378
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 Per Share. Net loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period. As of June 30, 2025 the Company reported a net loss, as a result, diluted loss per share is the same as basic loss per share of the period presented.

F-55

| Net loss from June 9, 2025 (inception) to June 30, 2025 |     | $ | 335 | ) |

|                           |     | June 30, 
 2025     |           |   |
|:--------------------------|:----|:---------|----------:|:--|
| Total number of shares    |     |          | 1,500,000 |   |
| Ownership percentage      |     |          |       100 | % |
| Total loss allocated      |     |          |    (8,335 | ) |
| Total income (loss)       |     |          |    (8,335 | ) |
| Weighted average shares   |     |          |   237,805 |   |
| Earnings (loss) per share |     |          |    (0.035 | ) |

Fair value of financial instruments

The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurement,” approximates the carrying amounts represented in the accompanying balance sheets, primarily due to their short-term nature. The Company did not have any financial instruments as of June 30, 2025.

Operating Segments

The Company operates as one operating segment. Operating segments are defined as components of an enterprise for which separate financial information is regularly evaluated by the chief operating decision maker (“CODM”), which is the Company’s Chief Executive Officer and Chief Financial Officer in deciding how to allocate resources and assess performance. The Company’s CODM evaluates the Company’s financial information and resources and assesses the performance of these resources. The Company is not organized by market and is managed and operated as one business. A single management team that reports to the CODM comprehensively manages the entire business. Accordingly, the Company does not accumulate discrete financial information with respect to separate divisions and does not have separate operating or reportable segments. Since the Company operates in one operating segment, all required financial segment information can be found in the financial statements

Recently issued accounting standard

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (