Company: CDAQF
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021994
Chunk: 61

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 61
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30, 2025, relates to our formation, Initial Public Offering, the search for a target business
and the consummation of an initial Business Combination, such as the Transactions with EEW. We will not be generating any operating revenues
until the closing and completion of our initial Business Combination, at the earliest. We generate non-operating income in the form of
interest income on cash and cash equivalents or investments from the proceeds derived from the Initial Public Offering and the Private
Placement, which are partially offset by operating expenses and related party administrative expenses. We incur increased expenses as
a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence
expenses.

For
the three months ended September 30, 2025, we had a net loss of $2,051,400, consisting of $2,062,698 in loss from operations, of which
$162,547 were operating expenses, including $30,000 of administrative expenses with related party and a change in fair value of non-redemption
liability of $1,870,151 offset by interest earned on cash held in the Trust Account of $11,298.

For
the nine months ended September 30, 2025, we had a net loss of $2,948,789, consisting of $2,807,174 in loss from operations, of which
$720,009 were operating expenses, including $90,000 of administrative expenses with related party and a change in fair value of non-redemption
liability of $1,997,165 , and a change in fair value of derivative warrant liabilities of $476,488 offset by interest earned on cash
held in the Trust Account of $334,873.

For
the three months ended September 30, 2024, we had a net loss of $4,568,210, consisting of $4,944,155 loss from operations, all of which
were operating expenses, including $30,000 of administrative expenses with related party, $4,076,270 in non-redemption expense and a
change in fair value of derivative warrant liabilities of $13,103, offset by interest earned on cash held in the Trust Account of $389,048.

For
the nine months ended September 30, 2024, we had a net loss of $4,205,940, consisting of $5,727,957 loss from operations, all of which
were operating expenses