Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 385

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 385
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   | 1,150,140 |   |
| Net cash (used in) provided by financing activities                                      |     |   | 1,150,140 |   |
| Net increase (decrease) in cash                                                          |     |   |   216,137 |   |
| Cash - beginning of the period                                                           |     |   |         - |   |
| Cash - end of the period                                                                 |     | $ |   216,137 |   |
| Supplemental Disclosure of Cash Flow Information                                         |     |   |           |   |
| No cash payments were made during the period for interest or income taxes.               |     |   |         - |   |

<div align='center'>See notes to financial statements

F-63</div>

March GL

Notes to Financial Statements

Period Ended June 30, 2025

| 1. | GENERAL INFORMATION |

March GL Company (“the Company”) was incorporated in the State of Texas on March 31, 2025 as a privately held entity. The Company was formed to engage in the acquisition, exploration, and development of oil and gas resources with a particular focus on underexplored frontier basins. The Company’s fiscal year ends on December 31.

March GL Company is currently a development-stage enterprise with no revenues as of June 30, 2025. The Company’s principal business activity is the exploration of hydrocarbon prospects within the Jameson Land Basin in eastern Greenland. The Jameson Land Basin is considered to be a highly prospective but historically undrilled area. The Company has secured exclusive rights to explore approximately 2 million acres in this basin.

| 2. | BASIS OF PREPARATION |

The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as issued by the Financial Accounting Standards Board (“FASB”). These financial statements reflect the financial position and results of operations of March GL Company (the “Company”) as of and for the period ended June 30, 2025.

Use of estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include, but are not limited to, assumptions used in the evaluation of going concern, prepaid expense amort