Company: DMAAR
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001213900-25-112096
Chunk: 89

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-11-18
Form: 10-Q
Item: Part I, Item 8
Chunk 89
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 initial business combination which contain substantially the same
financial and other information about our initial business combination and the redemption rights as is required under Regulation 14A
under the Exchange Act.

Results
of Operations

We
have neither engaged in any operations nor generated any revenues to date. Our only activities from May 23, 2024 (inception) through
September 30, 2025 were organizational activities, those necessary to prepare for the Initial Public Offering, described below, and subsequent
to the Initial Public Offering, identifying a target company for an initial business combination. We do not expect to generate any operating
revenues until after the completion of our initial business combination. We generate non-operating income in the form of interest earned
on cash and investments held in the trust account. We incur 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 income of $2,184,563, which consists of interest earned on cash and investments
held in the trust account of $2,448,266, offset by general and administrative costs of $263,703.

For
the nine months ended September 30, 2025, we had a net income of $5,727,685, which consists of interest earned on cash and investments
held in the trust account of $6,454,232, offset by general and administrative costs of $726,547.

For
the period from May 23, 2024 (inception) through September 30, 2024, we had a net loss of $199,859, which consists of general and administrative
costs.

Liquidity
and Capital Resources

As
of September 30, 2025, we had cash of $717. 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 per unit, generating gross
proceeds of $200,000,000. Simultaneously with the closing of the Initial Public Offering, we consummated the sale of 400,000 Private
Placement Units to the sponsor at a price of $10.00 per