Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 358

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 358
---
     | Significant Other 
 Observable Inputs 
 (Level 2)         |     |     | Significant Other   
 Unobservable Inputs 
 (Level 3)           |
|:-----------------------------------------------|:----|:--|-----------:|:----|:--|-----------------:|:----|:----|:------------------|:----|:----|:--------------------|
| Assets                                         |     |   |            |     |   |                  |     |     |                   |     |     |                     |
| Investments held in Trust Account              |     | $ | 86,885,672 |     | $ |       86,885,672 |     |     | -                 |     |     | -                   |

F-36

Note 9 — Segment Information

ASC Topic 280, “Segment Reporting,” establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated by the Company’s chief operating decision maker, or group, in deciding how to allocate resources and assess performance.

The Company’s chief operating decision maker has been identified as the Chairman, Chief Executive Officer, and Chief Financial Officer (“CODM”), who reviews the operating results for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that the Company only has one operating and reportable segment. The CODM reviews the position of total assets available to assess if the Company has sufficient resources available to discharge its liabilities.

When evaluating the Company’s performance and making key decisions regarding resource allocation the CODM reviews several key metrics, which include the following:

| Schedule of segment information                      |     |   |            For the 
 Three Months Ended 
           July 31, 
               2025 |     |   |          For the 
 Six Months Ended 
         July 31, 
             2025 |
|:-----------------------------------------------------|:----|:--|-------------------:|:----|:--|-----------------:|
| General and administrative expenses                  |     | $ |            331,247 |     | $ |          351,184 |
| Interest earned on investments held in Trust Account |     | $ |            635,672 |     | $ |          635,672 |

The key measures of segment profit or loss reviewed by the CODM are interest earned on investments held in Trust Account and formation and