Company: CDAQF
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021994
Chunk: 50

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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. The estimated fair value of the Public Warrants was transferred from a Level 1 measurement to a Level 2 measurement
due to lack of trading activity as of December 31, 2024 and 2023. As the transfer of Private Placement Warrants to anyone outside of
a small group of individuals who are permitted transferees would result in the Private Placement Warrants having substantially the same
terms as the Public Warrants, the Company determined that the fair value of each Private Placement Warrant is equivalent to that of each
Public Warrant, with an insignificant adjustment for short-term marketability restrictions. As such, the Private Placement Warrants were
classified as Level 2 as it references the price of Public Warrants.

The
following table presents the changes in the fair value of warrant liabilities:

 SCHEDULE OF CHANGES IN FAIR VALUE OF WARRANT LIABILITIES

    Private Placement  
    Public  
    Warrant Liabilities 

    Fair value as of December 31, 2024 
    $48,321  
    $70,802  
    $119,123 
  
    Change in fair value (1) 
     50,253  
     73,633  
     123,886 
  
    Fair value as of March 31, 2025 
    $98,574  
    $144,435  
    $243,009 
  
    Change in fair value (1) 
     143,029  
     209,573  
     352,602 
  
    Fair value as of June 30, 2025 
    $241,603  
    $354,008  
    $595,611 
  
    Change in fair value (1) 
     —  
     —  
     — 
  
    Fair value as of September 30, 2025 
    $241,603  
    $354,008  
    $595,611 

    Private Placement  
    Public  
    Warrant Liabilities 

    Fair value as of December 31, 2023 
    $238,704  
    $349,760  
    $588,464 
  
    Change in fair value (1) 
     205,846  
     301,615  
     507,461 
  
    Fair value as of March 31, 2024 
    $444