Here are the 10-Q quarterly reports from Pelican Acquisition Corporation Unit (PELIU) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow PELIU and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PELIU filings page.
Pelican Acquisition Corporation filed its unaudited Form 10-Q for the quarter ended April 30 2025. The blank-check company remains in the pre-merger stage and therefore reports no revenue.
Liquidity. Cash rose to $499,606 from $59,073 at January 31 2025, boosting total current assets to $501,456. Deferred offering costs stand at $169,116, lifting total assets to $670,572 (vs. $208,386 three months earlier).
Liabilities. Current liabilities jumped to $703,341 (vs. $221,602) mainly because the related-party promissory note increased to $700,000. Accrued expenses fell to zero and accrued offering costs were $3,341.
Capital position. Additional paid-in capital remained unchanged at $29,041. Accumulated deficit widened to $(62,117), pushing total shareholders’ deficit to $(32,769) from $(13,216). The negative equity position is typical for a SPAC before trust funding.
Results of operations. Formation and operating costs of $19,937 were partially offset by $384 of interest income, producing a net loss of $(19,553) for the quarter, or $(0.01) per basic and diluted share on 2.7 million weighted-average shares.
Cash flow. Operating activities used $39,664 of cash. Financing cash-flow details were not fully provided in the excerpt, but deferred offering costs rose by roughly $19,803.
Share information. As of June 27 2025, 11,998,750 ordinary shares (including shares underlying units) were outstanding. Following the underwriter’s full exercise of the 1,125,000-unit over-allotment option on May 30 2025, the potential forfeiture of up to 375,000 founder shares was eliminated.
Listings. Units trade under PELIU, ordinary shares under PELI, and rights under PELIR on Nasdaq.