Company: CDAQF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023544
Chunk: 153

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 2
Chunk 153
---
 expenses and related party administrative expenses. We incur increased expenses as
a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence
expenses.

For
the three months ended June 30, 2025, we had a net loss of $414,138, consisting of $127,120 in loss from operations, of which $97,120
were operating expenses, including $30,000 of administrative expenses with related party and a change in fair value of non-redemption
liability of $15,640, and a change in fair value of derivative warrant liabilities of $352,602 offset by interest earned on cash held
in the Trust Account of $81,044.

For
the six months ended June 30, 2025, we had a net loss of $897,389, consisting of $617,462 in loss from operations, of which $557,462
were operating expenses, including $60,000 of administrative expenses with related party and a change in fair value of non-redemption
liability of $127,014, and a change in fair value of derivative warrant liabilities of $476,488 offset by interest earned on cash held
in the Trust Account of $323,575.

For
the three months ended June 30, 2024, we had net income of $475,460, consisting of $669,154 loss from operations, all of which were operating
expenses, including $60,000 of administrative expenses with related party, and a change in fair value of derivative warrant liabilities
of $382,382, offset by interest earned on cash held in the Trust Account of $639,184.

For
the six months ended June 30, 2024, we had net income of $362,270, consisting of $783,802 loss from operations, all of which were
operating expenses, including $60,000 of administrative expenses with related party, and a change in fair value of derivative
warrant liabilities of $125,079, offset by interest earned on cash held in the Trust Account of $1,271,151.

Liquidity,
Capital Resources and Going Concern

As
of June 30, 2025, we had $1,521 in our operating bank account and a working capital deficit of $2,699,343. To date, our liquidity needs
have been satisfied through (i) a payment of $25,000 from the Legacy Sponsor to