Company: DAAQ
Filing Date: 2025-04-01
Form Type: S-1/A
Source: 0001213900-25-027285
Chunk: 350

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-04-01
Form: S-1/A
Chunk 350
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P.
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2024 NOTE 5. SEGMENT INFORMATION (cont.)

|                               |     | Period from  
 December 9,  
 2024         
 (inception)  
 through      
 December 31, 
 2024         |       |
|:------------------------------|:----|:-------------|------:|
| Formation and operating costs |     | $            | 5,112 |
| Net Loss                      |     | $            | 5,112 |

The CODM reviews formation and operating costs to manage and forecast cash to ensure enough capital is available to complete a business combination or similar transaction within the business combination period. The CODM also reviews formation and operating costs to manage, maintain and enforce all contractual agreements to ensure costs are aligned with all agreements and budget. Formation and operating costs, as reported on the statement of operations, are the significant segment information provided to the CODM on a regular basis. All other segment items included in net income or loss are reported on the statement of operations and described within their respective disclosures. The CODM reviews the position of total assets available with the company to assess if the Company has sufficient resources available to discharge its liabilities. The CODM is provided with details of cash and liquid resources available with the Company. Additionally, the CODM regularly reviews the status of deferred costs incurred to assess if these are in line with the planned use of proceeds to be raised from the public offering. NOTE 6. RELATED PARTY TRANSACTIONS Founder Shares On December 11, 2024, the Sponsor was issued 5,750,000 Class B ordinary shares (the “Founder Shares”) for an aggregate price of $25,000 paid to cover certain expenses on behalf of the Company. The Founder Shares include an aggregate of up to 750,000 Class B ordinary shares subject to forfeiture by the Sponsor to the extent that the Underwriter’s over -allotmentoption is not exercised in full or in part, so that the Sponsor will own, on an as -convertedbasis, 25% of the Company’s issued and outstanding shares after the Proposed Offering (assuming the Sponsor does not purchase any Public Shares in the Proposed Offering). The Founder Shares are designated as Class B ordinary shares and, except as described below, are identical to the Class A ordinary shares included in the units being sold in this offering, and holders of Founder Shares have the same shareholder rights as public shareholders, except that (i) the Founder Shares are subject to