Company: QSEA
Filing Date: 2025-02-03
Form Type: DRS/A
Source: 0001829126-25-000616
Chunk: 269

Company: Quartzsea Acquisition Corp
Filing Date: 2025-02-03
Form: DRS/A
Chunk 269
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 CORPORATION

STATEMENT OF CASH FLOWS

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

| Cash Flows from Operating Activities:                      |     |   |          |   |
|:-----------------------------------------------------------|:----|:--|---------:|:--|
| Net loss                                                   |     | $ |  (10,166 | ) |
| Changes in operating assets and liabilities:               |     |   |          |   |
| Prepaid expenses                                           |     |   |  (15,000 | ) |
| Accrued expenses                                           |     |   |    1,166 |   |
| Net cash used in operating activities                      |     |   |  (24,000 | ) |
| Cash Flows from Financing Activities:                      |     |   |          |   |
| Proceeds from issuance of ordinary shares to Sponsor       |     |   |   25,000 |   |
| Proceeds from issuance of promissory note to related party |     |   |  500,000 |   |
| Payment of offering costs                                  |     |   | (190,000 | ) |
| Net cash provided by financing activities                  |     |   |  335,000 |   |
| Net Change in Cash                                         |     |   |  311,000 |   |
| Cash – beginning of the period                             |     |   |        - |   |
| Cash – end of the period                                   |     | $ |  311,000 |   |

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

F-6</div>

<div align='center'>QUARTZSEA ACQUISITION CORPORATION

NOTES TO FINANCIAL STATEMENTS</div>

Note 1 — Description of Organization and Business Operations

Quartzsea Acquisition Corporation (the “Company”) is a newly organized blank check company incorporated under the laws of the Cayman Islands with limited liability on November 5, 2024. The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities (“Business Combination”). The Company is not limited to a particular industry or sector for purposes of consummating a Business Combination. The Company is an early stage and emerging growth company and, as such, the Company is subject