Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 274

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 274
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Expense Disaggregation Disclosures (Subtopic 220-40),
requiring specified disaggregations (e.g., purchases of inventory, employee compensation, depreciation and amortization) and a definition/disclosure
of selling expenses. In January 2025, ASU 2025-01 clarified that the guidance is effective for public business entities for fiscal years
beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027; early adoption is permitted.
We are evaluating the impact and expect the effect to be limited to enhanced disclosures.

In August 2023, the FASB issued
ASU 2023-05 (ASC 805-60), which requires a newly formed joint venture to recognize and initially measure its assets and liabilities at
fair value on the formation date, with any excess recognized as goodwill. The guidance is effective prospectively for joint ventures formed
on or after January 1, 2025; early adoption is permitted. We do not expect an impact unless we form a joint venture in future periods.

SEC Final Rule to Enhance and Standardize Climate-Related Disclosures. On March 6, 2024, the SEC adopted final rules to require
registrants to disclose certain climate-related information in registration statements and annual reports. On April 4, 2024, the SEC
issued an order staying the final rules pending completion of judicial review of the petitions challenging the final rules. The order
does not amend the compliance dates contemplated by the final rules, which are applicable to the Company for fiscal years beginning with
the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2025. The Company is currently evaluating
the potential impact of the final rules on its financial statements and related disclosures.

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<div align='center'>INFORMATION ABOUT GREENLAND EXPLORATION LIMITED</div>

Unless the context otherwise requires, all references in this subsection to the “Company,” “Greenland,” “we,” “us,” or “our” refer to Greenland prior to the consummation of the Business Combination.

Greenland Exploration Limited is a corporation incorporated in the state of Texas on June 9, 2025. The Company is focused on developing strategic positions in North American energy assets. Through its partnerships and future acquisitions, Greenland Exploration Limited aims to deliver long-term shareholder value in a dynamic and evolving energy market. Other than $20,000 in cash