Financial Analysis

Note 6 Commitments and Contingencies Risks and Uncertainties Various social and political circumstances in the U.S. and around the world, including rising trade tensions between the U.S. and China and the ongoing Russia/Ukraine and Hamas/Israel conflicts, may contribute to increased market volatility and economic uncertainty. These conditions could materially and adversely affect the Companys ability to consummate a Business Combination, the availability and terms of equity or debt financing, or the operations of a target business with which the Company ultimately consummates a Business Combination. The specific impact of these matters on the Companys financial position, results of operations, liquidity or ability to complete a Business Combination is not currently determinable. The financial statements do not include any adjustments that might result from the outcome of these uncertainties. Registration Rights The holders of the Founder Shares, private units, and securities that may be issued in payment of working capital loans and extension loans 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 these securities are entitled to make demands that the Company register such securities, and the Company will bear the expenses incurred in connection with the filing of any such registration statements. Underwriting Agreement The Company has granted Polaris Advi …

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Recent Accounting Pronouncements In November 2024, the FASB issued Accounting Standards Update (ASU) 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, requiring public entities to disclose additional information about specific expense categories in the notes to the unaudited financial statements on an interim and annual basis. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and for interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2024-03. Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Companys financial statements. …

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Note 5 Related Party Transactions Founder Shares On August 25, 2025, the Company entered into a subscription agreement with the Sponsor for the purchase of 2,415,000 ordinary shares for an aggregate purchase price of $ 25,000 . In connection with the upsizing of the IPO, in February 2026, the Sponsor acquired an additional 1,610,000 ordinary shares for nominal consideration, resulting in an aggregate of 4,025,000 Founder Shares outstanding prior to the IPO, or approximately $ 0.0062 per ordinary share. In connection with the IPO, up to 525,000 Founder Shares were subject to forfeiture to the extent that the underwriters over-allotment option was not exercised in full. On April 17, 2026, the underwriters exercised the over-allotment option in full, and the over-allotment closed on April 21, 2026. Accordingly, as of April 30, 2026, no Founder Shares were subject to forfeiture. The Initial Shareholders have agreed, subject to certain limited exceptions, not to transfer, assign or sell any Founder Shares until the earlier of: (i) six months after the completion of the Companys initial Business Combination, or (ii) the date on which the Company completes a liquidation, merger, share exchange or other similar transaction after its initial Business Combination that results in all public shareholders having the right to exchange their ordinary shares for cash, securities or other property. The Initial Shareholders have also agreed not to transfer any ownership interest in the private …

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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 Chairwoman, Chief Executive Officer and Chief Financial 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 reporting For the Three Months Ended April 30, 2026 Formation and operating cost …

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Note 2 Significant Accounting Policies Basis of Presentation The accompanying unaudited interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information, as set forth by the Financial Accounting Standards Board (FASB), and pursuant to the rules and regulations of the SEC. 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 audited financial statements for the period from August 8, 2025 (inception) through January 31, 2026, as included in the Companys registration statement and related filings with the SEC. The interim results for the three months ended April 30, 2026 are not necessarily indicative of the results that may be expected for the fiscal year ending 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 l …

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Note 7 Shareholders Equity Ordinary shares The Company is authorized to issue up to 500,000,000 ordinary shares, par value $ 0.0001 per share. Holders of ordinary shares are entitled to one vote for each share held on all matters to be voted on by shareholders, except as required by law. On January 9, 2026, the Company and the Sponsor entered into the First Amendment to the Subscription Agreement, pursuant to which the number of ordinary shares subscribed for by the Sponsor was increased to 4,025,000 ordinary shares for the same aggregate purchase price of $ 25,000 , or approximately $0.0062 per ordinary share. In connection with the IPO and full exercise of the underwriters over-allotment option, the Company issued 285,000 private placement shares as part of the private placement units and 230,000 representative shares to the underwriters. As of April 30, 2026, the Company had 4,540,000 non-redeemable ordinary shares issued and outstanding, excluding 11,500,000 ordinary shares subject to possible redemption. Rights Each public unit and private placement unit includes one right. Each right entitles the holder to receive one-fourth (1/4) of one ordinary share upon consummation of 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 ordinary shares upon consummation of a Business Combination, as the consideration related thereto was included in …

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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 Company identified the following subsequent event requiring disclosure. On June 9, 2026, the Company entered into an Agreement and Plan of Merger with Robseek Intelligence Inc., a Cayman Islands exempted company (Robseek), Robseek Limited, a business company incorporated under the laws of the British Virgin Islands, Meng Tang, solely in his capacity as shareholder representative, Robseek Inc., a Cayman Islands exempted company and wholly owned subsidiary of the Company (Purchaser), and QRED Merger Sub Ltd., a Cayman Islands exempted company and wholly owned subsidiary of Purchaser (Merger Sub). Pursuant to the Merger Agreement, the parties will consummate a business combination through a merger structure pursuant to which (i) the Company will merge with and into Purchaser, with Purchaser surviving such merger, and (ii) immediately thereafter, Merger Sub will merge with and into Robseek, with Robseek surviving such merger as a wholly owned subsidiary of Purchaser. At the effective time of the acquisition merger, each issued and outstanding ordinary share of Robseek, other than excluded shares, will be cancelled in exchange for the right to receive the applicable portion of 100,000,000 ordinary shares of Purchaser, valued at $10.00 per share, based on an agreed pre-mon …

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