<span item_type="fundamental" item_id="0e6f3446a3e6cae2908ca59b20aed7ce" counter_id="ST/US/PELIR" env="prod"></span><span item_type="announcement" item_id="534069216397822721" env="prod"></span><p>EPS: As of FY2025 Q1, the actual value is USD -0.01.</p><p></p><h3>Segment Revenue</h3><ul><li>The company has not generated any operating revenues as of April 30, 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/2037431/000182912625004771/pelicanacq_10q.htm"></span></li></ul><h3>Operational Metrics</h3><ul><li>Net loss for the three months ended April 30, 2025, was - $19,553, primarily due to formation and operating costs of $19,937, offset by interest income of $384.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2037431/000182912625004771/pelicanacq_10q.htm"></span></li></ul><h3>Cash Flow</h3><ul><li>Net cash used in operating activities for the three months ended April 30, 2025, was - $39,664.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2037431/000182912625004771/pelicanacq_10q.htm"></span></li><li>Net cash provided by financing activities was $480,197, resulting in a net change in cash of $440,533, with cash at the end of the period totaling $499,606.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2037431/000182912625004771/pelicanacq_10q.htm"></span></li></ul><h3>Unique Metrics</h3><ul><li>The company completed its IPO on May 27, 2025, selling 7,500,000 units at $10.00 per unit, generating gross proceeds of $75,000,000.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2037431/000182912625004771/pelicanacq_10q.htm"></span></li><li>An additional 1,125,000 units were sold through the exercise of the over-allotment option, generating gross proceeds of $11,250,000.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2037431/000182912625004771/pelicanacq_10q.htm"></span></li></ul><h3>Future Outlook and Strategy</h3><ul><li><strong>Core Business Focus</strong>: The company intends to effectuate its initial business combination using cash from the IPO proceeds, private placement units, and other securities sales. It aims to complete a business combination by August 27, 2026, or seek shareholder approval to extend this period.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2037431/000182912625004771/pelicanacq_10q.htm"></span></li><li><strong>Non-Core Business</strong>: The company has granted EBC a right of first refusal for certain financing activities related to the business combination, ensuring EBC’s involvement in future equity-linked financings.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2037431/000182912625004771/pelicanacq_10q.htm"></span></li></ul><h3>Priority</h3><ul><li>The company has placed $86,250,000 in a trust account to be used for the business combination, with funds invested in U.S. government treasury bills or money market funds.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2037431/000182912625004771/pelicanacq_10q.htm"></span></li></ul>

PELICAN ACQUISITION CORPORATION SHS USD0.0001(S/R 02/05/2030) | 10-Q: FY2025 Q1 EPS: USD -0.01