Company: KOYNU
Filing Date: 2025-06-18
Form Type: S-1
Source: 0001829126-25-004586
Chunk: 372

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-06-18
Form: S-1
Chunk 372
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 were we engaged to perform, an audit of its internal control over
financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but
not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly,
we express no such opinion.

Our audits included performing procedures to assess
the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond
to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating
the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ Elliott Davis, PLLC

We have served as the Company’s auditor since 2024.

Charlotte, North Carolina

June 18, 2025

<div align='center'>F-2</div>

<div align='center'>CSLM Digital Asset Acquisition Corp III, Ltd

BALANCE SHEETS</div>

| ASSETS                                                                                                                                                                        |     | March 31, 
 2025      |         |   |     | December 31, 
 2024         |         |   |
|:------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:----------|--------:|:--|:----|:-------------|--------:|:--|
| Current asset – cash                                                                                                                                                          |     | $         |  25,000 |   |     | $            |       - |   |
| Deferred offering costs                                                                                                                                                       |     |           |  85,281 |   |     |              |  35,480 |   |
| Total Assets                                                                                                                                                                  |     | $         | 110,281 |   |     | $            |  35,480 |   |
| LIABILITIES AND SHAREHOLDER’S DEFICIT                                                                                                                                         |     |           |         |   |     |              |         |   |
| Current liabilities:                                                                                                                                                          |     |           |         |   |     |              |         |   |
| Accrued offering costs                                                                                                                                                        |     | $         |  85,281 |   |     | $            |  35,480 |   |
| Accrued expenses                                                                                                                                                              |     |           |   6,870 |   |     |              |  11,426 |