Company: KOYNU
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001829126-25-009093
Chunk: 82

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 82
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 three and nine months ended September 30, 2025 and has paid no
amounts under the agreement as of September 30, 2025, resulting in a $34,839 accrual as of September 30, 2025 that is
recorded to accrued expenses on the consolidated balance sheets. No amounts were accrued as of December 31, 2024 as the agreement was not yet in effect.

26

Related Party Loans

In
order to finance transaction costs in connection with an intended initial Business Combination, the Sponsor or an affiliate of the
Sponsor or certain of our officers and directors may, but are not obligated to, loan the Company funds as may be required on a
non-interest basis (the “Working Capital Loans”). If we complete an initial Business Combination, the Company would
repay such loaned amounts. In the event that the initial Business Combination does not close, the Company may use amounts held
outside the Trust Account to repay such loaned amounts but no proceeds from the Trust Account would be used for such repayment. Up
to $1,500,000 of such loans may be convertible into units of the post business combination entity at a price of $10.00 per unit at
the option of the lender. Such units would be identical to the Private Units. Except as set forth above, the terms of such loans, if
any, have not been determined and no written agreements exist with respect to such loans. As of September 30, 2025 and December 31, 2024, no such
Working Capital Loans were outstanding.

Contractual Obligations

We do not have any long-term debt, capital lease obligations, operating lease obligations or long-term liabilities. No unaudited quarterly operating data is included in this Quarterly Report as we have not conducted any operations to date.

Critical Accounting Estimates

The preparation of financial statements and related disclosures in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and income and expenses during the periods reported. Actual results could materially differ from those estimates. We have not identified any critical accounting estimates as of September 30, 2025.

Recent Accounting Standards

Refer to Note 2 – Significant Accounting Policies in Part I. Financial Statements.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

As smaller reporting company, we are not required