Company: DAAQ
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110841
Chunk: 0

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 0
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Item 1. UNAUDITED CONDENSED FINANCIAL STATEMENTS

DIGITAL ASSET ACQUISITION CORP.

CONDENSED BALANCE SHEETS

    September 30, 
2025  
    December 31,
 2024 

    (unaudited)  

    ASSETS 

    Current assets: 

    Cash and cash equivalents 
    $1,149,892  
    $— 
  
    Prepaid insurance 
     65,625  
     — 
  
    Prepaid expenses and other current
    assets 
     20,000  
     — 
  
    Total current assets 
     1,235,517  
     — 
  
    Deferred offering costs 
     —  
     25,000 
  
    Marketable securities held in Trust Account 
     175,466,068  
     — 
  
    Long-term prepaid insurance 
     38,140  
     — 
  
    TOTAL ASSETS 
    $176,739,725  
    $25,000 

    LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT) 

    Current liabilities: 

    Accrued expenses 
    $54,079  
    $4,791 
  
    Due to related party 
     81,647  
     321 
  
    Total current liabilities 
     135,726  
     5,112 
  
    Deferred underwriting fee payable 
     6,900,000  
     — 
  
    Total Liabilities 
    $7,035,726  
    $5,112 

    Commitments and Contingencies (Note 7) 

    Class A ordinary shares subject to possible redemption, 17,250,000 and 0 shares at redemption value of $10.17 and $0 per share at September 30, 2025 and December 31, 2024, respectively  
     175,466,068  
     — 

    Shareholders’ Equity (Deficit) 

    Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued or outstanding at September 30, 2025 and December 31, 2024 
     —  
     — 
  
    Class A ordinary shares, $0.0001