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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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 unaudited 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 unaudited 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 unaudited 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 unaudited 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

The accompanying financial statements have been prepared
in conformity with generally accepted accounting principles, which contemplate the continuation of the Company as a going concern. As
a development-stage Company, the Company had no revenues and incurred losses as of July 31, 2025. The Company currently has limited working
capital and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended
period of time.

Management anticipates that the Company will be dependent,
in the near future, on additional investment capital to fund operating expenses. The Company intends to position itself so that it will
be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the
Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern.

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES

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

We 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