Financial Analysis

Note 6 Commitments and Contingencies Registration Rights The holders of the Founder Shares issued and outstanding on the date of this prospectus, as well as the holders of the private units and any shares of the Companys insiders, officers, directors or their affiliates may be issued in payment of working capital loans and extension loans made to the Company (and any ordinary shares issuable upon conversion of the underlying the private rights), will be entitled to registration rights pursuant to an agreement to be signed prior to or on the effective date of the registration statement. The holders of a majority of the private units and units issued in payment of working capital loans made to us can elect to exercise these registration rights at any time commencing on the date that the Company consummate an initial business combination. In addition, the holders have certain piggy-back registration rights with respect to registration statements filed subsequent to the consummation of an initial business combination. The Company will bear the expenses incurred in connection with the filing of any such registration statements. Underwriting Agreement The Company has granted the underwriter, A.G.P./Alliance Global Partners (A.G.P.), a 45-day option from the effective date of the Registration Statement (May 7, 2026) to purchase up to 1,500,000 additional Units to cover over-allotments, if any, at the IPO price less the applicable underwriting discounts and commissions, expiring on J …

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Recent Accounting Pronouncements In December 2023, the FASB issued ASU 2023-09, Income taxes (Topic 740): Improvements to Income Tax Disclosure (ASU 2023-09), which enhances the transparency and usefulness of income tax disclosures. ASU 2023-09 will be effective for fiscal years beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The Company adopted this guidance on February 1, 2026 and there was no significant impact. Management does not believe that any other recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Companys financial statement. …

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Note 5 Related Party Transactions Founder Shares On September 29, 2025, the Company agreed to issue to the Sponsor 1,725,000 ordinary shares with a par value of $ 0.0001 per share (the Founder Shares) for an aggregated consideration of $ 25,000 , or approximately $ 0.0145 per share pursuant to a share subscription agreement. On February 20, 2026, the Company issued an additional 1,150,000 founder shares to the sponsors for no consideration. As a result, the sponsors hold a total of 2,875,000 founder shares, or approximately $ 0.0087 per share. As of April 30, 2026, there were 2,875,000 Founder Shares issued and outstanding, which were retroactively restated to reflect the issuance of 1,150,000 additional founder shares to the Sponsor on February 20, 2026 for no consideration. Pursuant to the Securities Subscription Agreement, as amended, up to 375,000 of the Founder Shares are subject to forfeiture to the extent that the underwriters Over-Allotment Option is not exercised in full or in part, so that the Sponsor will beneficially own 20 % of the Companys issued and outstanding shares after the IPO (not including the shares underlying the Private Units and assuming the Sponsor does not purchase any Public Shares in the IPO and excluding the Private Units). The Founder Shares are identical to the ordinary shares included in the Units being sold in the IPO, and holders of Founder Shares have the same shareholder rights as public shareholders, except that (i) the Founder Shares ar …

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Note 8 Segment Information ASC Topic 280, Segment Reporting, establishes standards for companies to report in their financial statements information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated by the Companys chief operating decision maker, or group, in deciding how to allocate resources and assess performance. The Company has adopted the guidance in ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, in the accompanying financial statements. The Companys chief operating decision maker has been identified as the Chief Executive Officer (CODM), who reviews the assets, operating results and financial metrics for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that the Company only has one operating and reportable segment. The CODM reviews the position of total assets available to assess if the Company has sufficient resources available to discharge its liabilities. When evaluating the Companys performance and making key decisions regarding resource allocation the CODM reviews several key metrics, which include the following: Schedule of Segment Information For the Three Months Ended April 30, 2026 Formation and operating costs $ 32,856 The key measure of segment …

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Note 2 Significant accounting policies Basis of Presentation The accompanying unaudited condensed financial statements are presented in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) and pursuant to the rules and regulations of the SEC. Accordingly, they do not include all of the information and footnotes required by the U.S. GAAP. In the opinion of management, the unaudited condensed financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. They should be read in conjunction with the Companys Current Report on Form 8-K, as filed with the SEC on May 15, 2026. The interim results for the three months ended April 30, 2026 are not necessarily indicative of the results that may be expected through January 31, 2027 or for any future periods. Emerging Growth Company Status The Company is an emerging growth company, as defined in Section 2(a) of the Securities Act of 1933, as amended, (the Securities Act), as modified by the Jumpstart Our Business Startups Act of 2012, (the JOBS Act), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosu …

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Note 7 - Shareholders Deficit Ordinary Shares The Company is authorized to issue up to 500,000,000 ordinary shares with a par value of $ 0.0001 per share. On September 29, 2025, the Company issued 1,725,000 ordinary shares to the Sponsor for $ 25,000 , or approximately $ 0.0145 per share. On February 20, 2026, the Company issued an additional 1,150,000 founder shares to the Sponsor for no consideration. As a result, the Sponsor holds a total of 2,875,000 founder shares, or approximately $ 0.0087 per share. Founder Shares were retroactively restated to reflect the February 20, 2026 issuance. As of April 30, 2026 and January 31, 2026, there were 2,875,000 Founder Shares issued and outstanding, of which up to 375,000 of the Founder Shares are subject to forfeiture to the extent that the underwriters Over-Allotment Option is not exercised in full or in part. As a result of the partial exercise of the underwriters over-allotment option which was closed on May 27, 2026, 125,000 shares of the total 375,000 shares of ordinary shares were no longer subject to forfeiture. Rights Each holder of a right will receive one-fourth (1/4) of one ordinary share upon consummation of a Business Combination, even if the holder of such right redeemed all shares held by it in connection with a Business Combination. No fractional shares will be issued upon conversion of the rights. No additional consideration will be required to be paid by a holder of rights in order to receive their additional share …

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Note 9 Subsequent Events The Company evaluated subsequent events and transactions that occurred after the balance sheet date through the date when these financial statements were issued. Based on this review, the following subsequent events were identified: On May 7, 2026, the Companys registration statement for the IPO was declared effective by the SEC, and the Company entered into an Administrative Services Agreement with the Sponsor, pursuant to which the Company agreed to pay the Sponsor $ 10,000 per month for office space and administrative and support services. This agreement will remain in effect until the earlier of the consummation of the Companys initial Business Combination or the Companys liquidation. On May 11, 2026, the Company consummated its IPO of 10,000,000 Units at a price of $ 10.00 per Unit, generating gross proceeds of $ 100,000,000 . Simultaneously with the closing of the IPO, the Company completed the sale of 221,500 Private Units to the Sponsor at a price of $ 10.00 per Private Unit, generating gross proceeds of $ 2,215,000 . In addition, the Company issued 150,000 ordinary shares to A.G.P./Alliance Global Partners as representative compensation (the Representative Shares), which are subject to a 180-day lock-up from the closing of the IPO. On the same date, the Company repaid the full outstanding balance of $ 300,000 under the unsecured promissory note with the Sponsor out of the offering proceeds not held in the Trust Account. On May 20, 2026, the u …

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