Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 308

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 308
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 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/ Marcum llp |
| Marcum llp     |

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

Morristown, NJ

February 27, 2025; except for the Note 9, as to which the date is April 9, 2025, and Note 10, as to which the date is April 30, 2025 and Note 11, as to which date is May 20, 2025.

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

<div align='center'>PELICAN ACQUISITION CORPOPRATION
BALANCE SHEET</div>

|                                                                                                               |     | January 31, 
 2025        |         |   |
|:--------------------------------------------------------------------------------------------------------------|:----|:------------|--------:|:--|
| ASSETS                                                                                                        |     |             |         |   |
| Current Assets                                                                                                |     |             |         |   |
| Cash                                                                                                          |     | $           |  59,073 |   |
| Total Current Assets                                                                                          |     |             |  59,073 |   |
| Deferred offering costs                                                                                       |     |             | 149,313 |   |
| Total Assets                                                                                                  |     | $           | 208,386 |   |
| LIABILITIES AND SHAREHOLDERS’ DEFICIT                                                                         |     |             |         |   |
| Current liabilities                                                                                           |     |             |         |   |
| Accrued expenses                                                                                              |     | $           |  18,539 |   |
| Accrued offering costs                                                                                        |     |             |   3,063 |   |
| Promissory note – related party                                                                               |     |             | 200,000 |   |
| Total Current Li