Company: PELI
Filing Date: 2025-06-27
Form Type: 10-Q
Source: 0001829126-25-004771
Chunk: 1

Company: Pelican Acquisition Corp
Filing Date: 2025-06-27
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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 OF OPERATIONS

    For theThree Months EndedApril 30, 2025

    Formation and operating costs
     
    $
    19,937

    Loss from operations

    (19,937
    )
  
    Interest income

    384

    Net loss
     
    $
    (19,553
    )

    Basic and diluted weighted average shares outstanding(1)

    2,700,000

    Basic and diluted net loss per share
     
    $
    (0.01
    )

    (1)
    
        Excludes an aggregate of up to 375,000 ordinary shares subject to forfeiture if the over-allotment is not exercised in full or in part by the underwriters (see Note 5).  

As a result of the underwriter’s full exercise of its over-allotment option to purchase 1,125,000 units on May 30, 2025, no shares were subject to forfeiture.

The accompanying notes are an integral part of these unaudited condensed financial statements.

2

PELICAN ACQUISITION CORPORATION

UNAUDITED CONDENSED STATEMENT OF CHANGES IN SHAREHOLDER’S DEFICIT

FOR THE THREE MONTHS ENDED APRIL 30, 2025

    Ordinary Shares

    Additional Paid-in

    Accumulated

        Total Shareholder’s

    Shares(1)

    Amount

    Capital

    Deficit

    Deficit

    Balance–January 31, 2025

    3,075,000

    $
    307

    $
    29,041

    $
    (42,564
    )
     
    $
    (13,216
    )
  
    Net loss

    -

    -

    -

    (19,553
    )

    (19,553
    )
  
    Balance–April 30, 2025

    3,075,000

    $
    307

    $
    29,041

    $
    (62,117
    )
     
    $
    (32,769
    )

    (1)
    
        Includes an aggregate of up to 375,000 ordinary shares subject to forfeiture if the over-allotment is not exercised in full or in part by the underwriters (see Note 5).  

    As a result of the underwriter’s full exercise of its over-allotment option to purchase 1,125,