Company: CDAQF
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021994
Chunk: 154

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 154
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 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, including $90,000 of administrative expenses with related party, $4,076,270 in non-redemption expense and a
change in fair value of derivative warrant liabilities of $138,182, offset by interest earned on cash held in the Trust Account of $1,660,199.

Liquidity,
Capital Resources and Going Concern

As
of September 30, 2025, we had $721 in our operating bank account and a working capital deficit of $2,897,140. To date, our liquidity
needs have been satisfied through (i) a payment of $25,000 from the Legacy Sponsor to cover certain expenses on our behalf in exchange
for the issuance of the Founder Shares, (ii) a loan of approximately $195,000 pursuant to the IPO Promissory Note issued to an affiliate
of the Legacy Sponsor, (iii) the net proceeds from the