SEC Filing Document

Company: Palermo Technologies Inc.
Ticker: 
CIK: 2101355
Filing Type: S-1
Document Type: S-1
Date Filed: 2026-01-20
Accession Number: 0002097570-26-000005
Exchange: 
SIC Code: 4899
SIC Description: Communications Services, NEC
URL: https://www.sec.gov/Archives/edgar/data/2101355/000209757026000005/pale-20260120_s1.htm

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from other sources. Actual results may differ from these estimates under different assumptions or conditions. The following represents a summary of our critical accounting policies, defined as those policies that we believe are the most important to the portrayal of our financial condition and results of operations and that require management’s most difficult, subjective or complex judgments, often as a result of the need to make estimates about the effects of matters that are inherently uncertain. Basis of presentation The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America, and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) and reflect all adjustments, consisting of normal recurring adjustments, which management believes are necessary to fairly present the financial position, results of operations and cash flows of the Company for the year ended July 31, 2025.

The
accompanying condensed financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments
(which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash
flows at July 31, 2025, and for the related periods presented.

Cash
and Cash Equivalents

The
Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. The Company
had $10,000 cash as of July 31, 2025.

Income
Taxes

The
Company recognizes the tax effects of transactions in the year in which such transactions enter into the determination of net income,
regardless of when reported for tax purposes.

Revenue
Recognition

recognize revenue in accordance with Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers
(“ASC 606”). The standard’s stated core principle is that an entity should recognize revenue to depict the transfer
of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in
exchange for those goods or services. To achieve this core principle, ASC 606 includes provisions within a five-step model that includes
identifying the contract with a customer, identifying the performance obligations in the contract, determining the transaction price,
allocating the transaction price to the performance obligations, and recognizing revenue when, or as, an entity satisfies a performance
obligation.

Use
of Estimates

The
preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the
date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ
from those estimates.

Fair
Value of Financial Instruments

topic 820 “Fair Value Measurements and Disclosures” establishes a three-tier fair value hierarchy, which prioritizes the
inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring
fair value are observable in the market.

These
tiers include:

Level
1: defined as observable inputs such as quoted prices in active markets.

Level
2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and

Level
3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

The
carrying value of cash approximates its fair value due to its short-term maturity.

Stock-Based
Compensation

Stock-based
compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan
and has not granted any stock options.

Basic
and Diluted Net Loss per Common Share

Basic
loss per common share is computed by dividing the net loss by the weighted average number of shares of common stock outstanding for each
period. Diluted loss per share is computed by dividing the net loss by the weighted average. The number of shares of common stock outstanding
plus the dilutive effect of shares issuable through the common stock equivalents. The weighted-average number of common shares outstanding
excludes common stock equivalents because their inclusion would be anti-dilutive.

Comprehensive
Income

Comprehensive
income is defined as all changes in stockholders’ deficit, exclusively of transactions with owners, such as capital investments.
Comprehensive income includes net income or loss, changes in certain assets and liabilities that are reported directly in equity such
as translation adjustments on investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. As
of July 31, 2025, there were no differences between our comprehensive loss and net loss.

Foreign
Currency Translation

The
Company’s functional and reporting currency is the U.S. dollar. Transactions may occur in foreign currencies and management has
adopted ASC 830, “Foreign Currency Translation Matters”. Monetary assets and liabilities denominated in foreign currencies
are translated using the exchange rate prevailing at the balance sheet date. Non-monetary assets and liabilities denominated in foreign
currencies are translated at rates of exchange in effect at the date of the transaction. Average monthly rates are used to translate
revenues and expenses. Gains and losses arising on translation or settlement of foreign currency denominated transactions or balances
are included in the statement of operations.

Recent
Accounting Pronouncements

have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements
will have a material impact on the Company.

INFLATION

do not believe that inflation had a material effect on our results of operations during the twelve month period ended July 31, 2025.

DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL
PERSONS

The
board of directors elects our executive officers annually.  A majority vote of the directors who are in office is required to fill
vacancies.  Each director is elected for the term of one year, and until his or her successor is elected and qualified, or until
his earlier resignation or removal.  The name, address, age and position of our sole officer and director are as follows:

Name Address Age Position(s)

Roger McClay 1122-1577
Gulf Road
Point
Roberts, WA 98281 76 President, Chief Executive
Officer, Treasurer, Chief Financial Officer, Secretary, Director

The
persons named above are expected to hold said offices/positions until the next annual meeting of our stockholders.

RESUMES

Roger
McClay, President, Secretary, Treasurer, Director

Roger McClay,76,
has over 50 years of experience in the natural resources sector. He has served as an officer and director of seven public companies,
focusing on project development, corporate finance and management. Since 2023, he has been President and CEO of International Slipcoat
Inc., a private company engaged in international sales within the mining, cement, and coal transportation industries. From 2005 to present,
he has also served as President and CEO of BCT Mining Corp., BCT Holdings Ltd., and Goldbridge Mining Ltd., all private companies involved
in mine contracting, mine development and geological exploration, with projects spanning North America, Indonesia and Ecuador.

Throughout his
career, he has been actively involved in international resource project management, acquisitions, mergers and development, with a strong
focus on building natural resource projects from exploration through to production. In addition to his mining and resource ventures,
he has also acted as President in both the Hazardous Metal Recovery business and the Aircraft Engine Development business, reflecting
the breadth of his leadership experience across multiple industries.

During the past
5 years, Mr. McClay has not held any other directorships in a company with a class of securities registered pursuant to section 12 of
the Exchange Act or subject to the requirements of section 15(d) of such Act or any company registered as an investment company under
the Investment Company Act of 1940.

FAMILY
RELATIONSHIPS

None.

BOARD
COMMITTEES; CORPORATE GOVERNANCE

Our
Board of Directors acts as our Audit Committee and the Board has no separate committees.

EXECUTIVE COMPENSATION

REMUNERATION

The
following table sets forth information concerning all cash and non-cash compensation awarded to, earned by or paid to our executive officers. We
do not currently have an established policy to provide compensation to members of our Board of Directors for their services in that capacity,
although we may choose to adopt a policy in the future.

Summary
Compensation Table

Salary Bonus Option
Awards All
Other Compensation Total

Name
and Principal Position Year ($) ($) ($) ($) ($)

Roger McClay 2025 – – – – –

COMPENSATION
OF DIRECTORS

Our
director is not currently being compensated and we expect no compensation to be paid for the foreseeable future.  Although no payments
to Directors have been made, they may be reimbursed for actual expenses incurred for each meeting of the Board that they attend.

STOCK
PLAN

have not adopted a stock plan but may do so in the future.

EMPLOYMENT
AGREEMENTS

None
of our executive officers are party to any employment agreement with us.

DIRECTOR
INDEPENDENCE