<span item_type="fundamental" item_id="40bc46a109f438176a9b0dfd19b92db7" counter_id="ST/US/PELIU" env="prod"></span><span item_type="announcement" item_id="595499116308994689" env="prod"></span><p>Revenue: As of FY2026 Q3, the actual value is USD 0.</p><p>EPS: As of FY2026 Q3, the actual value is USD 0.04.</p><p>EBIT: As of FY2026 Q3, the actual value is USD -1.265 M.</p><p></p><h3>Segment Revenue</h3><ul><li>The company has not generated any operating revenues as of October 31, 2025, and will not generate any until after the completion of a Business Combination.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2037431/000182912625010193/pelicanacq_10q.htm"></span></li></ul><h3>Operational Metrics</h3><ul><li>For the three months ended October 31, 2025, Pelican Acquisition Corporation reported a net income of $514,636, compared to a net loss of $43,064 for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2037431/000182912625010193/pelicanacq_10q.htm"></span></li><li>General and administrative expenses for the three months ended October 31, 2025, were $375,265, compared to $43,064 for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2037431/000182912625010193/pelicanacq_10q.htm"></span></li><li>For the nine months ended October 31, 2025, the company reported a net income of $802,493, with general and administrative expenses totaling $726,449.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2037431/000182912625010193/pelicanacq_10q.htm"></span></li></ul><h3>Cash Flow</h3><ul><li>Net cash used in operating activities for the nine months ended October 31, 2025, was - $827,919.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2037431/000182912625010193/pelicanacq_10q.htm"></span></li><li>Net cash used in investing activities for the same period was - $86,250,000, primarily due to the purchase of investments held in the Trust Account.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2037431/000182912625010193/pelicanacq_10q.htm"></span></li><li>Net cash provided by financing activities was $87,019,066 for the nine months ended October 31, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2037431/000182912625010193/pelicanacq_10q.htm"></span></li></ul><h3>Unique Metrics</h3><ul><li>Interest earned on investments held in the Trust Account was $888,798 for the three months ended October 31, 2025, and $1,524,470 for the nine months ended October 31, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2037431/000182912625010193/pelicanacq_10q.htm"></span></li></ul><h3>Future Outlook and Strategy</h3><ul><li>The company plans to effectuate its initial business combination using cash from the IPO proceeds, private placement units, and other securities sales, with the aim to consummate a business combination by August 27, 2026.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2037431/000182912625010193/pelicanacq_10q.htm"></span></li><li>The proposed business combination involves merging with Greenland Exploration Limited and March GL Company, with the transaction expected to result in a publicly traded company on Nasdaq named Greenland Energy Company.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2037431/000182912625010193/pelicanacq_10q.htm"></span></li><li>The merger consideration includes shares of Holdco common stock valued at US$215,000,000, with existing shareholders of Greenland and March GL receiving shares of Holdco common stock.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2037431/000182912625010193/pelicanacq_10q.htm"></span></li></ul>

Pelican Acquisition - Unit | 10-Q: FY2026 Q3 Revenue: USD 0