Company: DMAAR
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001213900-25-112096
Chunk: 66

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-11-18
Form: 10-Q
Item: Part I, Item 8
Chunk 66
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 less when purchased to be cash equivalents.
The Company had $717 and $1,351 in cash and no cash equivalents as of September 30, 2025 and December 31, 2024, respectively.

Cash
and Investments Held in Trust Account

As of September
30, 2025, cash and investments held in the Trust Account were held in money market funds which invest in U.S. Treasury securities. All
of the Company’s cash and investments held in the Trust Account are classified as trading securities. Trading securities are presented
on the unaudited balance sheets at fair value at the end of each reporting period. Gains and losses resulting from the change in fair
value of cash and investments held in the Trust Account are included in interest earned on cash and investments held in Trust Account
in the accompanying unaudited statement of operations. The estimated fair values of cash and investments held in Trust Account are determined
using available market information. Fair values of these investments are determined by Level 1 inputs utilizing quoted prices (unadjusted)
in active markets for identical assets.

Offering
Costs

The
Company complies with the requirements of the ASC 340-10-S99 and SEC Staff Accounting Bulletin (“SAB”) Topic 5A —
“Expenses of Offering”. Offering costs consist principally of professional and registration fees that are related to the
Initial Public Offering. FASB ASC 470-20, “Debt with Conversion and Other Options,” addresses the allocation of proceeds
from the issuance of convertible debt into its equity and debt components. The Company applies this guidance to allocate Initial Public
Offering proceeds from the Units between ordinary shares and rights, using the residual method by allocating Initial Public Offering
proceeds first to assigned value of the rights and then to the ordinary shares. Offering costs allocated to the ordinary shares were
charged to temporary equity and offering costs allocated to the public and private placement rights were charged to shareholders’
deficit as public and private placement rights after management’s evaluation were accounted for under equity treatment.

Income
Taxes

The
Company accounts for income taxes under ASC Topic 740, “Income Taxes,” which requires an asset and liability approach
to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between
the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted
tax laws and rates applicable to the periods in which the differences are expected to affect taxable