Company: DAAQ
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078074
Chunk: 164

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-08-19
Form: 10-Q
Item: Item 1
Chunk 164
---
     —  
     —  
     974,692  
     974,692 
  
    Balance
    at June 30, 2025 
     5,750,000  
    $575  
    $—  
    $(5,652,093) 
    $(5,651,518)

(1)Includes up to 750,000 Class B ordinary shares that were subject to forfeiture if the over-allotment option was not 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
STATEMENTS OF CASH FLOWS

(UNAUDITED)

    For
    the 
    six months ended
    June 30,
    2025 
  
    Cash Flows from Operating
    Activities: 

    Net income 
    $974,692 
  
    Adjustments to reconcile net income to net
    cash used in operating activities: 

    Earnings on marketable
    securities held in Trust Account 
     (1,164,886)
  
    Operating expenses paid
    via promissory note - related party 
     112,848 
  
    Operating costs paid
    by Sponsor from proceeds withdrawn from Trust Account 
     207,836 
  
    Changes in operating
    assets and liabilities: 

    Accrued expenses 
     73,117 
  
    Due to related party 
     75,000 
  
    Prepaid
    insurance 
     (120,171)
  
    Net
    cash provided by operating activities 
     158,436 

    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