Company: DAAQ
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110841
Chunk: 4

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 4
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 exercised in full or in part by the Underwriters (see Note 6). On April 30, 2025, the Underwriters’ over-allotment option was exercised in full simultaneously with the Initial Public Offering, and the 750,000 Class B ordinary shares were no longer subject to forfeiture.

The accompanying notes are an integral part
of these unaudited condensed financial statements.

3

DIGITAL ASSET ACQUISITION CORP.

CONDENSED STATEMENT OF CASH FLOWS

(UNAUDITED)

    For the
 nine months
 ended September 30,
 2025 
  
    Cash Flows from Operating Activities: 

    Net income 
    $2,665,323 
  
    Adjustments to reconcile net income to net cash provided by operating activities: 

    Earnings on marketable securities held in Trust Account 
     (2,966,068)
  
    Operating expenses paid via promissory note - related party 
     112,848 
  
    Operating costs paid by Sponsor from proceeds withdrawn from Trust Account 
     267,836 
  
    Changes in operating assets and liabilities: 

    Prepaid insurance 
     (103,765)
  
    Prepaid expenses  and other current assets 
     (20,000)
  
    Accrued expenses 
     49,288 
  
    Due to related party 
     81,326 
  
    Net cash provided by operating activities 
     86,788 

    Cash Flows from Investing Activities: 

    Cash deposited into Trust Account 
     (172,500,000)
  
    Net cash used in investing activities 
     (172,500,000)

    Cash Flows from Financing Activities: 

    Proceeds from sale of Units, net of underwriting discounts paid 
     168,042,965 
  
    Proceeds from Private Placement Warrants, less issuance costs 
     5,051,531 
  
    Proceeds from Public Warrants, less issuance costs 
     468,608 
  
    Net cash provided by financing activities 
     173,563,104 

    Net Change in Cash 
     1,149,892 
  
    Cash - Beginning of period 
     — 
  
    Cash - End of period 
    $1,149,892 

    Supplemental Disclosure of Non-Cash Investing and Financing Activities: 

    Deferred underwriting fee payable charged to