SEC Filing Document

Company: Palermo Technologies Inc.
Ticker: 
CIK: 2101355
Filing Type: S-1/A
Document Type: S-1/A
Date Filed: 2026-05-15
Accession Number: 0002097570-26-000016
Exchange: 
SIC Code: 4899
SIC Description: Communications Services, NEC
URL: https://www.sec.gov/Archives/edgar/data/2101355/000209757026000016/pale-20260512_s1a3.htm

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100 F. St. NE, Washington, D.C. 20549, upon payment of fees prescribed by the SEC. The SEC maintains a worldwide website that contains reports, proxy and information statements and other information regarding registrants that file electronically with the SEC. The address of the website is http://www.sec.gov. The SEC’s toll free investor information service can be reached at 1-800-SEC-0330. FINANCIAL STATEMENTS The audited financial statements for the fiscal years ending July 31, 2025 are set forth on pages F-1 through F-17. Index Financial Statements for the Year Ended July 31, 2025 Independent Auditor’s Report F-2 Balance Sheets at July 31, 2025 F-3 Statements of Operations for the Year Ended July 31, 2025 F-4 Statements of Changes in Stockholders’ Equity for the Year Ended July 31, 2025 F-5 Statements of Cash Flows for the Year Ended July 31, 2025 F-6 Notes to Financial Statements F-7 Report of Independent Registered Public Accounting Firm

To the shareholders and the board of directors of

Palermo Technologies Inc.

Opinion on the Financial Statements

We have audited the accompanying balance sheets of
Palermo Technologies Inc. (the "Company") as of July 31, 2025, the related statements
of operations, changes in shareholders' deficit and cash flows, for the period July 2, 2025 (Inception) through July 31, 2025,
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 July 31, 2025, and the results of its operations and its cash flows
for the period July 2, 2025 (inception) through July 31, 2025, in conformity with U.S. generally accepted accounting principles.

Going Concern

The accompanying financial statements have been prepared
assuming the Company will continue as a going concern as disclosed in Note 2 to the financial statement, the Company has continuously
incurred a net loss of $(859) for the period ended July 31, 2025. These factors raise substantial doubt about the Company ability to continue
as a going concern. These financial statements do not include any adjustments that might result from the outcome of the uncertainty.

Basis for Opinion

These financial statements
are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements
based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB")
and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable
rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audits in accordance with the standards
of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements
are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material
misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures
included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included
evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation
of the financial statements. We believe that our audits provide a reasonable basis for our opinion. The Company is not required to have,
nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain
an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of
the Company's internal control over financial reporting. Accordingly, we express no such opinion.

Critical Audit Matters

Critical audit matters are matters arising from the
current period audit of the financial statements that were communicated or required to be communicated to the audit committee and that:
(1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective,
or complex judgments. Communication of critical audit matters does not alter in any way our opinion on the financial statements taken
as a whole and we are not, by communicating the critical audit matters, providing separate opinions on the critical audit matter or on
the accounts or disclosures to which they relate.

Going Concern Uncertainty – See
also Going Concern Uncertainty explanatory paragraph above:

As described in Note 2 to
the financial statements, the Company has operating losses. Furthermore, the company has not generated any revenue since inception of
business. The Company is dependent on obtaining additional working capital funding from its stockholders, and the sale of equity or private
or public funding to execute its plans and continue operations These conditions raise substantial doubt about the Company’s ability
to continue as a going concern.

We determined the Company’s ability to continue
as a going concern is a critical audit matter due to the estimation and uncertainty regarding the Company’s available capital and
the risk of bias in management’s judgments and assumptions in their determination.

The procedures performed
to address the matter included.

·	We inquired of executive officer, and key member of management, of the Company regarding factors that would have an impact on the Company’s ability to continue as a going concern,

·	We evaluated management’s plan for addressing the adverse effects of the conditions identified, including assessing the reasonableness of forecasted information and underlying assumptions, and utilizing our knowledge of the entity, its business and management in considering liquidity needs and the Company’s ability to generate sufficient cash flow,

·	We assessed the possibility of raising additional debt or credit,

·	We evaluated the completeness and accuracy of disclosures
in the financial statements.

/s/ BOLADALE
LAWAL

BOLADALE LAWAL & CO.

(Chartered Accountants)

PCAOB ID (6993)

We have served as the Company's auditor since 2025.

Lagos Nigeria

January 15th, 2026.

Palermo Technologies Inc.

Balance Sheet

July 31, 2025

ASSETS

Current assets:

Cash and cash equivalents $	10,000

Total current assets 10,000

Total assets $	10,000

LIABILITIES AND STOCKHOLDERS' DEFICIT

Current liabilities:

Due to related party 10,329

Total current liabilities 10,329

Total liabilities $	10,329

STOCKHOLDERS’ DEFICIT:

Common stock: $0.0001 par value, 50,000,000 shares authorized, 5,000,000 shares issued and outstanding as on July 31, 2025 respectively. 500

Accumulated deficit (829	)

Total stockholders’ deficit $	(329	)

Total liabilities and stockholders' deficit $	10,000

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

Palermo Technologies Inc.

Statement of Operations

July 2, 2025 to July 31, 2025

REVENUE $	—

OPERATING EXPENSES:

General and administration expenses 329

Share base compensation 500

Total operating expenses $	829

Net loss $	(829	)

Net loss per common share - basic and diluted $	(0.00	)

Weighted average number of shares of common stock outstanding - basic and diluted 5,000,000

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

Palermo Technologies Inc.

Statement of stockholders' deficit

Common Stock shares

Shares Amount Accumulated deficit Total stockholders' deficit

For the year ended July 31, 2025

Balance at June 27, 2025 5,000,000 $	500 $	— $	500

Net loss — — (829	) (829	)

Balance at July 31, 2025 5,000,000 $	500 $	(829	) $	(329	)

The accompanying notes are an integral part of these audited financial statements

Palermo Technologies Inc.

Statement of Cash
Flows

July 2, 2025 to July 31, 2025

Cash Flows from Operating Activities:

Net loss $	(829	)

Adjustments to reconcile net income (loss) to net cash used in operating activities:

Share based compensation 500

Net cash used in operating activities $	(329	)

Cash Flows from Investing Activities:

Net cash provided by Investing activities $	—

Cash Flows from Financing Activities:

Proceeds from related party debt 10,329

Net cash provided by financing activities $	10,329

Net increase (decrease) in cash, cash equivalents and restricted cash 10,000

Cash, cash equivalents and restricted cash at beginning of the period —

Cash, cash equivalents and restricted cash at end of the period $	10,000

Supplemental Cash Flow Information:

Cash paid for interest $	—

Cash paid for income taxes $	—

Share issue for services —

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

PALERMO TECHNOLOGIES INC.

NOTES TO THE AUDITED FINANCIAL
STATEMENTS

JULY 31, 2025

NOTE 1 – ORGANIZATION AND NATURE OF
BUSINESS

Palermo Technologies Inc. (“the Company”)
was incorporated on July 2, 2025, in the State of Wyoming. The Company is in the business of providing secure peer-to-peer communication
suite that uses embedded artificial intelligence to dynamically manage encryption, routing, and obfuscation.

NOTE 2 – GOING CONCERN