Company: DAAQ
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110841
Chunk: 78

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 78
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 for future operations, are forward-looking statements. Words such as “expect,” “believe,”
“anticipate,” “intend,” “estimate,” “seek” and variations and similar words and expressions
are intended to identify such forward-looking statements. Such forward-looking statements relate to future events or future performance,
but reflect management’s current beliefs, based on information currently available. A number of factors could cause actual events,
performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. For
information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking
statements, please refer to the Risk Factors section of the Company’s final prospectus for its Initial Public Offering (as defined
below) filed with the U.S. Securities and Exchange Commission (the “SEC”). The Company’s securities filings can be accessed
on the EDGAR section of the SEC’s website at www.sec.gov. Except as expressly required by applicable securities law, the Company
disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future
events or otherwise.

Overview

We are a blank check company incorporated in Cayman
Islands on December 9, 2024 formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization
or similar business combination with one or more businesses (a “Business Combination”). We have not selected any Business Combination
target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any Business
Combination target. We intend to effectuate our initial Business Combination using cash from the proceeds of our initial public offering
(the “Initial Public Offering”) and the sale of the Private Placement Warrants (as defined below), the proceeds of the sale
of our shares in connection with our initial Business Combination pursuant to the forward purchase agreements (or backstop agreements
we may enter into or otherwise), shares issued to the owners of the target, debt issued to bank or other lenders or the owners of the
target, or a combination of the foregoing or other sources.

21

Results of Operations

We have neither engaged in any operations nor
generated any revenues to date. Our only activities for the nine months ended September 30, 2025, were organizational activities and those
necessary to prepare for our Initial Public Offering, as described below. We do not expect to generate any operating revenues until after
the completion