Revenue: As of FY2026 Q1, the actual value is USD 0.EPS: As of FY2026 Q1, the actual value is USD -0.04.EBIT: As of FY2026 Q1, the actual value is USD -818.68 K.Greenland Energy Company operates as a single reportable segment, focusing on oil and gas exploration activities in Greenland.<h4>Segment Revenue</h4>Greenland Energy Company generated no revenue for the three months ended March 31, 2026, as it has not commenced commercial production.<h4>Operational Metrics</h4><ul><li>Operating Expenses: Total operating expenses were approximately $0.8 million for the three months ended March 31, 2026.</li><li>Net Loss: The net loss for the period was approximately - $0.8 million.</li></ul><h4>Financial Position (As of March 31, 2026)</h4><ul><li>Cash and Cash Equivalents: The company held approximately $3.1 million in cash and cash equivalents.</li><li>Total Assets: Total assets amounted to approximately $7.1 million.</li><li>Total Liabilities: Total liabilities were approximately $3.9 million.</li><li>Total Stockholders’ Equity: Total stockholders’ equity was approximately $3.2 million.</li><li>Current Assets: Current assets included approximately $0.9 million in prepaid insurance, $0.2 million in deposits on equipment, and $2.3 million in prepaid exploration costs.</li><li>Current Liabilities: Accounts payable and accrued expenses totaled approximately $2.8 million, and amounts due to related parties were approximately $1.1 million.</li></ul><h4>Cash Flow (Three Months Ended March 31, 2026)</h4><ul><li>Operating Activities: Net cash used in operating activities was approximately - $2.5 million, primarily due to the net loss and an increase in prepaid expenses.</li><li>Investing Activities: Net cash used in investing activities was approximately - $0.6 million, attributed to purchases of property and equipment.</li><li>Financing Activities: Net cash provided by financing activities was approximately $6.1 million, which included $11.0 million from the business combination, $0.6 million from common stock issuance, and $0.1 million from subscription receivable collection, partially offset by - $5.6 million in transaction costs.</li></ul><h4>Future Outlook and Strategy</h4>Greenland Energy Company anticipates incurring significant costs as a public company for SEC reporting, legal, accounting, audit, insurance, investor relations, corporate governance, and compliance matters. The company also expects substantial expenditures for its planned exploration program, covering equipment, logistics, technical studies, and contractor services. Subsequent to March 31, 2026, the company completed an offering that generated approximately $70 million in gross proceeds, intended for exploration activities, working capital, outstanding obligations, public company costs, and general corporate purposes. The company’s future liquidity and capital requirements are contingent on the timing and cost of exploration, vendor payments, public company expenses, and capital raising efforts, with potential needs for additional financing through equity, debt, or strategic arrangements.

Greenland Energy | 10-Q: FY2026 Q1 Revenue: USD 0