Company: DMAAR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026240
Chunk: 21

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 21
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. Certain
information contained in the discussion and analysis set forth below includes forward-looking statements. Our actual results may differ
materially from those anticipated in these forward-looking statements as a result of many factors, including those set forth under “Cautionary
Note Regarding Forward-Looking Statements,” “Item 1A. Risk Factors” and elsewhere in this Annual Report on Form 10-K.

Overview

We are a blank check company incorporated
as an exempted company in the Cayman Islands on May 23, 2024 for the purpose of effecting a merger, share exchange, asset acquisition,
share purchase, recapitalization, reorganization or other similar business combination with one or more businesses. We intend to effectuate
our initial business combination using cash derived from the proceeds of the Initial Public Offering and the sale of the Private Placement
Units, our shares, debt or a combination of cash, shares and debt.

We expect to continue to incur significant
costs in the pursuit of our acquisition plans. We cannot assure you that our plans to complete an initial business combination will be
successful.

Results of Operations

We have neither engaged in any operations
nor generated any operating revenues to date. Our only activities from inception through December 31, 2024 were organizational activities
and those necessary to prepare for the Initial Public Offering, described below. We do not expect to generate any operating revenues until
after the completion of our initial business combination. We expect to generate non-operating income in the form of interest income on
marketable securities held after the Initial Public Offering. We expect that we will 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 in connection with
searching for, and completing, a business combination.

For the period from May 23, 2024 (inception) through
December 31, 2024, we had a net loss of $279,845, which consisted of general and administrative costs.

13

Liquidity and Capital Resources

As of December 31, 2024, we had cash of $1,351.
Until the consummation of the Initial Public Offering, our only source of liquidity was an initial purchase of ordinary shares by the
sponsor and loans from our sponsor.

On January 29, 2025, we consummated
the Initial Public Offering of 20,000,000 Units, at a price of $10.00