$GLND

Greenland Energy Co

CIK:0002093507|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue
Total revenue
Operating expenses	4,945,112	445,105	5,763,791	445,105
Depreciation	889		889
Total expenses	4,946,002	445,105	5,764,680	445,105
Other income/(expense), net	26,152		26,152
Net loss before income taxes	(4,919,849)	(445,105)	(5,738,528)	(445,105)
Income taxes
Net loss	$ (4,919,849)	$ (445,105)	$ (5,738,528)	$ (445,105)
Earnings per share, Basic	$ (0.13)	$ (0.06)	$ (0.20)	$ (0.06)
Earnings per share, Diluted	$ (0.13)	$ (0.06)	$ (0.20)	$ (0.06)
Weighted average number of shares outstanding, Basic	38,274,849	7,522,653	29,265,646	7,522,653
Weighted average number of shares outstanding, Diluted	38,274,849	7,522,653	29,265,646	7,522,653

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net loss	$ (5,738,528)	$ (445,105)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock based compensation	533,223
Common stock issued for vendor services	317,500
Depreciation	889
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(609,923)
Accounts payable and accrued expenses	895,708	380,009
Net cash used in operating activities	(4,601,131)	(65,096)
Cash flows from investing activities
Additions to oil and natural gas properties, full cost method	(17,512,053)
Prepaid exploration costs and deposits	(10,494,154)	(868,907)
Purchases of property and equipment	(17,785)
Net cash used in investing activities	(28,023,992)	(868,907)
Cash flows from financing activities
Collection of subscription receivable	90,000
Proceeds from issuance of common stocks, net	67,331,660	1,150,140
Payment to related party	(775,000)
Proceeds from business combination with Pelican	10,993,625
Payment of transaction costs	(7,823,035)
Net cash provided by financing activities	69,817,250	1,150,140
Net increase in cash and cash equivalents	37,192,127	216,137
Cash and cash equivalents — beginning of period	231,058
Cash and cash equivalents — end of period	37,423,185	216,137
Supplemental disclosures of Cash Flow Information:
Cash paid during the year for interest
Cash paid during the year for income taxes
Supplemental Non-Cash Information:
Common stock issued in settlement of related-party liability	$ 306,250

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash and cash equivalents	$ 37,423,185	$ 231,058
Prepaid expenses and other current assets	680,200
Total Current Assets	38,103,385	231,058
Non-current Assets
Oil and natural gas properties, full cost method	17,512,053
Prepaid exploration costs and deposits	11,935,024	1,440,870
Property and equipment, net	16,896
Total Noncurrent Assets	29,463,973	1,440,870
Total Assets	67,567,358	1,671,928
Current Liabilities
Accounts payable and accrued expenses	1,363,865	398,795
Total Current Liabilities	1,363,865	398,795
Total Liabilities	1,363,865	398,795
Stockholders’ Equity
Preferred stock, $0.0001 par value per share; 10,000,000 shares authorized; no shares issued and outstanding as of June 30, 2026 and December 31, 2025
Common stock, $0.0001 par value per share; 500,000,000 shares authorized; 43,730,194 and 19,074,158 shares issued and outstanding as of June 30, 2026 and December 31, 2025	4,373	1,907
Additional paid-in capital	76,217,135	5,640,713
Subscription receivable		(90,000)
Accumulated deficit	(10,018,015)	(4,279,487)
Total Stockholders’ Equity	66,203,493	1,273,133
Total Liabilities and Stockholders’ Equity	$ 67,567,358	$ 1,671,928