Company: CDAQF
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021994
Chunk: 53

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 53
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 and 10.1(d) thereof. On November 6, 2025, the Company sent a written response to EEW disputing such termination, asserting, among
other things, that the representations, warranties and covenants of the Company set forth in the Business Combination Agreement purported
by EEW in the Notice to have been breached by the Company either were not breached at all or were not breached at a level giving rise
to a termination right, and that, in any event, EEW does not have the right to terminate the Business Combination Agreement due to EEW’s
previous and continuing breaches of certain key covenants of the Business Combination Agreement. Consequently, the Company believes that
EEW’s purported termination of the Business Combination Agreement is invalid under the terms of the Business Combination Agreement.

20

Item
2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Cautionary
Note Regarding Forward-Looking Statements

All
statements other than statements of historical fact included in this Quarterly Report on Form 10-Q for the quarterly period ended September
30, 2025 (this “Report”) including, without limitation, statements under this Item regarding our financial position, business
strategy and the plans and objectives of Management for future operations, are forward-looking statements. When used in this Report,
words such as “anticipate,” “believe,” “estimate,” “expect,” “intend” and
similar expressions, as they relate to us or our Management, identify forward-looking statements. Such forward-looking statements are
based on the beliefs of our Management, as well as assumptions made by, and information currently available to, our Management. Actual
results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in
our filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf
are qualified in their entirety by this paragraph.

The
following discussion and analysis of our financial condition and results of operations should be read in conjunction with the unaudited
condensed financial statements and the notes thereto included in this Report under “Item 1. Financial Statements”.

Overview

We
are a blank check company incorporated in the Cayman Islands on March 8, 2021, formed for the purpose of effectuating a Business Combination.
We are an early-stage and emerging growth company and, as such, are subject to all of the risks associated with early-stage and emerging
growth companies.

We