Company: QSEA
Filing Date: 2025-02-24
Form Type: S-1
Source: 0001829126-25-001168
Chunk: 261

Company: Quartzsea Acquisition Corp
Filing Date: 2025-02-24
Form: S-1
Chunk 261
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. As part of our audit we are required to obtain an understanding of internal control over financial
reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting.
Accordingly, we express no such opinion.

Our audit included performing procedures to assess
the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond
to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial
statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as
evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

/s/ CBIZ CPAs P.C.

CBIZ CPAs P.C.

We have served as the Company’s auditor since
2024.

Morristown, NJ

December 23, 2024; except for the Note 9, as
to which the date is February 21, 2025

<div align='center'>F-2</div>

<div align='center'>QUARTZSEA ACQUISITION CORPORATION

BALANCE SHEET</div>

|                                                                                                      |     | November 30, 
 2024         |         |   |
|:-----------------------------------------------------------------------------------------------------|:----|:-------------|--------:|:--|
| ASSETS                                                                                               |     |              |         |   |
| Current                                                                                              
 Assets                                                                                               |     |              |         |   |
| Cash                                                                                                 |     | $            | 311,000 |   |
| Prepaid                                                                                              
 expenses                                                                                             |     |              |  15,000 |   |
| Total                                                                                                
 Current Assets                                                                                       |     |              | 326,000 |   |
| Deferred                                                                                             
 offering costs                                                                                       |     |              | 190,000 |   |
| Total                                                                                                
 Assets                                                                                               |     | $            | 516,000 |   |
| LIABILITIES                                                                                          
 AND SHAREHOLDER’S EQUITY                                                                             |     |              |         |   |
| Current                                                                                              
 liabilities                                                                                          |     |              |         |   |
| Accrued expenses                                                                                     |     | $            |   1,166 |   |
| Promissory                                                                                           
 note – related party                                                                                 |     |              | 500,000 |   |
| Total                                                                                                
 Current Liabilities                                                                                  |     |              |