Company: CDAQF
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001641172-25-000421
Chunk: 732

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 3
Chunk 732
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 Class A Ordinary Shares
at the time of the Business Combination on a one-for-one basis, subject to adjustment for share splits, share dividends, reorganizations,
recapitalizations and the like. In the case that additional Class A Ordinary Shares, or equity linked securities, are issued or deemed
issued in excess of the amounts offered in the Initial Public Offering and related to the closing of a Business Combination, the ratio
at which Class B Ordinary Shares shall convert into Class A Ordinary Shares will be adjusted (unless the holders of a majority of the
outstanding Class B Ordinary Shares agree to waive such adjustment with respect to any such issuance or deemed issuance) so that the
number of Class A Ordinary Shares issuable upon conversion of all Class B Ordinary Shares will equal, in the aggregate, on an as converted
basis, 20% of the sum of the total number of all Ordinary Shares outstanding upon the completion of the Initial Public Offering plus
all Class A Ordinary Shares and equity linked securities issued or deemed issued in connection with a Business Combination (excluding
any shares or equity linked securities issued, or to be issued, to any seller in a Business Combination, and any 2021 Note Warrants or
2024 Note Warrants). Holders of Founder Shares may also elect to convert their Class B Ordinary Shares into an equal number of Class
A Ordinary Shares, subject to adjustment as provided above, at any time.

The
Company may issue additional ordinary or preference shares to complete its Business Combination or under an employee incentive plan after
completion of its Business Combination.

NOTE
10 - FAIR VALUE MEASUREMENTS

The
following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring
basis at December 31, 2024, and December 31, 2023, and indicates the fair value hierarchy of the valuation inputs the Company utilized
to determine such fair value:

SCHEDULE
OF ASSETS MEASURED AT FAIR VALUE ON A RECURRING BASIS

    Description 
    Level 
    December 31, 2024  
    Level 
    December 31, 2023 
  
    Liabilities: 

    Private Placement Warrants (1) 
    Level 2 
    $48,321  
    Level 2 
    $238,704 
  
    Public Warrants (1) 
    Level 2 
    $70,802  
    Level 2 
    $349,760 
  
    Non