Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 364

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 364
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 | $                 | (473 | ) |
| Loss before tax expense                                                |     | $                 | (473 | ) |
| Income tax expense                                                     |     |                   | -    |   |
| Net loss                                                               |     | $                 | (473 | ) |
| Weighted average number of common stock outstanding, basic and diluted |     |                   | -    |   |
| Basic and diluted net loss per common share                            |     | $                 | -    |   |

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

F-41</div>

<div align='center'>PELICAN HOLDCO, INC.

STATEMENT OF CHANGES IN STOCKHOLDER’S DEFICIT

FOR THE PERIOD FROM SEPTEMBER 5, 2025 (INCEPTION) TO SEPTEMBER 30, 2025</div>

| Balance, September 5, 2025 (inception) |     | Common Stock 
 Shares       | - |     | Amount | - |     | Accumulated 
 deficit     | -    |   |     | Stockholder’s 
 deficit       | -    |   |
|:---------------------------------------|:----|:-------------|:--|:----|:-------|:--|:----|:------------|:-----|:--|:----|:--------------|:-----|:--|
| Net loss                               |     |              | - |     |        | - |     |             | (473 | ) |     |               | (473 | ) |
| Balance, September 30, 2025            |     |              | - |     | $      | - |     | $           | (473 | ) |     | $             | (473 | ) |

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

F-42</div>

<div align='center'>PELICAN HOLDCO, INC.

STATEMENT OF CASH FLOWS

FOR THE PERIOD FROM SEPTEMBER 5, 2025 (INCEPTION) TO SEPTEMBER 30, 2025</div>

|                                                            |     | For the           
 Period from       
 September 5, 2025 
 (Inception) to    
 September 30,     
 2025              |      |   |
|:-----------------------------------------------------------|:----|:------------------|-----:|:--|
| Cash Flows from Operating Activities                       |