Company: QSEA
Filing Date: 2025-02-03
Form Type: DRS/A
Source: 0001829126-25-000616
Chunk: 266

Company: Quartzsea Acquisition Corp
Filing Date: 2025-02-03
Form: DRS/A
Chunk 266
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 for the Period from November 5, 2024 (Inception) Through November 30, 2024 |     | F-5  |
| Statement of Cash Flows for the Period from November 5, 2024 (Inception) Through November 30, 2024                      |     | F-6  |
| Notes to Financial Statements                                                                                           |     | F-7  |

<div align='center'>F-1</div>

<div align='center'>Report of Independent Registered Public Accounting Firm</div>

To the Shareholders and Board of Directors of

Quartzsea Acquisition Corporation

Opinion on the Financial Statements

We have audited the accompanying balance sheet of Quartzsea Acquisition Corporation (the “Company”) as of November 30, 2024, the related statements of operations, shareholder’s equity and cash flows for the period from November 5, 2024 (inception) through November 30, 2024, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of November 30, 2024, and the results of its operations and its cash flows for the period from November 5, 2024 (inception) through November 30, 2024, in conformity with accounting principles generally accepted in the United States of America.

Explanatory Paragraph – Going Concern

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As described in Note 1 to the financial statements, the Company is a Special Purpose Acquisition Company that was formed for the purpose of completing a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses within an expected period of eighteen months from the date of a successful completed proposed initial public offering. The Company lacks the capital resources it needs to fund its operations for a reasonable period of time, which is generally considered to be one year from the issuance of the financial statements. These matters raise substantial doubt about the Company's ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 1. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Basis for Opinion

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audit. We are a public accounting