Company: PELI
Filing Date: 2025-12-19
Form Type: 10-Q
Source: 0001829126-25-010193
Chunk: 1

Company: Pelican Acquisition Corp
Filing Date: 2025-12-19
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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 Additional paid-in capital

    -

    29,041

    Accumulated deficit

    (31,583
    )

    (42,564
    )
  
    Total Shareholders’ Deficit

    (31,246
    )

    (13,216
    )
  
    Total Liabilities and Shareholders’ Deficit
     
    $
    88,054,474

    $
    208,386

    (1)

     Includes an aggregate of up to 375,000 ordinary shares subject to forfeiture if the over-allotment is not exercised in full or in part by the underwriters (see Note 5).  

As a result of the underwriter’s full exercise of its over-allotment option to purchase 1,125,000 units on May 30, 2025, no shares were subject to forfeiture.

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

1

PELICAN ACQUISITION CORPORATION

UNAUDITED CONDENSED STATEMENTS OF OPERATIONS

    For the Three Months Ended October 31,
    2025

    For the
    Three Months Ended
    October 31,
    2024

    For the
    Nine Months Ended
    October 31,
    2025

    For the
Period from
July 23, 2024
(Inception) to
October 31,
2024

    General and administrative expenses
     
    $
    375,265

    $
    43,064

    $
    726,449

    $
    43,064

    Loss from operations

    (375,265
    )

    (43,064
    )

    (726,449
    )

    (43,064
    )

    Other income:

    Interest income

    1,103

    -

    4,472

    -

    Interest earned on investments held in Trust Account

    888,798

    -

    1,524,470

    -

    Total other income

    889,901

    -

    1,528,942

    -

    Net income (loss)
     
    $
    514,636

    $
    (43,064
    )
     
    $
    802,493

    $
    (43,064
    )

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