Company: CDAQF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023544
Chunk: 6

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 6
---
 — 
  
    Accounts payable 
     157,797  
     — 
  
    Accrued expenses 
     109,319  
     295,703 
  
    Net cash used in operating activities 
     (443,321) 
     (498,760)

    Cash Flows from Investing Activities: 

    Cash withdrawn from Trust Account in connection with redemption 
     26,688,615  
     — 
  
    Net cash provided by investing activities 
     26,688,615  
     — 

    Cash Flows from Financing Activities 

    Proceeds from Polar Capital Investment payable-related party 
     —  
     250,000 
  
    Redemption of ordinary shares 
     (26,688,615) 

    Proceeds from Working Capital Loans 
     417,122  
     — 
  
    Capital contribution from Sponsor 
     —  
     295,000 
  
    Net cash (used in) provided by financing activities 
     (26,271,493) 
     545,000 

    Net (decrease) increase in cash 
     (26,199) 
     46,240 
  
    Cash - beginning of period 
     27,720  
     44,046 
  
    Cash - end of period 
    $1,521  
    $90,286 

    Supplemental disclosure of non-cash investing and financing activities: 

    Allocation of Polar Capital Investment payable proceeds to equity instrument 
    $—  
    $(499,545)

The
accompanying notes are an integral part of these unaudited condensed financial statements.

4

COMPASS
DIGITAL ACQUISITION CORP.

NOTES
TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

JUNE
30, 2025

NOTE
1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

Compass
Digital Acquisition Corp. (the “Company”) is a blank check company incorporated in the Cayman Islands on March 8, 2021. The
Company was formed for the purpose of effectuating a merger, share exchange, asset acquisition, share purchase, reorganization or similar
business combination with one or more businesses (the “Business Combination”). The Company is an early-stage and emerging
growth company and, as such, the Company is subject to all of the risks