Company: QSEA
Filing Date: 2025-03-12
Form Type: S-1/A
Source: 0001829126-25-001750
Chunk: 261

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-12
Form: S-1/A
Chunk 261
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 the registration statement, online at www.sec.gov.

<div align='center'>165</div>

<div align='center'>QUARTZSEA Acquisition Corporation

Index to Financial Statements</div>

|                                                                                                               |     | Page |
| Report                                                                                                        
 of Independent Registered Public Accounting Firm (PCAOB ID:199)                                               |     | F-2  |
| Financial                                                                                                     
 Statements:                                                                                                   |     |      |
| Balance                                                                                                       
 Sheet as of November 30, 2024                                                                                 |     | F-3  |
| Statement                                                                                                     
 of Operations for the Period from November 5, 2024 (Inception) Through November 30, 2024                      |     | F-4  |
| Statement                                                                                                     
 of Changes in Shareholder’s Equity 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