v3.25.4
INCOME TAX
 1 Months Ended
Sep. 30, 2025
Pelican Holdco Inc [Member]  
INCOME TAX

NOTE 6 — INCOME TAX

 

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. A valuation allowance is provided against deferred tax assets when, based on all available evidence, it is considered more likely than not that some portion or all of the recorded deferred tax assets will not be realized in future periods. The Company cannot be certain that future taxable income will be sufficient to realize its deferred tax assets, and accordingly, a full valuation allowance has been provided on its deferred tax assets. The net deferred tax assets continue to require a valuation allowance until the Company can demonstrate their realizability through sustained profitability or another source of income.

Components of deferred tax assets and liabilities are:

 

       
    For the
Period from
September 5, 2025
(Inception) to
September 30,
2025		  
Deferred tax assets:      
Deferred start-up and organizational expenditures     (99 )
Total deferred tax assets, net     (99 )
Valuation allowance     99  
Deferred tax assets, net of valuation allowance   $ -  

 

The reconciliation of the statutory federal income tax with the provision (benefit) for income taxes is as follows:

 

   

For the
Period from
September 5, 2025
(Inception) to
September 30,
2025

  
Income tax benefit at federal statutory rate     99       21.0 %
Income tax (benefit) at state statutory rate     -       -  
Change in valuation allowance     (99 )     21.0 %
Permanent differences     -       -  
Total income tax provision (benefit)   $ -       0 %