Company: KOYNU
Filing Date: 2025-07-31
Form Type: S-1/A
Source: 0001829126-25-005627
Chunk: 189

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-07-31
Form: S-1/A
Chunk 189
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 control environment, accounting policies, procedures
and controls to achieve complete, accurate and timely financial accounting, reporting and disclosures. We cannot be certain as to the
timing of completion of our evaluation, testing, and remediation actions or their effect on our operations

<div align='center'>107</div>

Our independent registered public accounting firm’s report contains an explanatory paragraph that expresses substantial doubt about our ability to continue as a “going concern.”

As of March 31, 2025, we
had $25,000 in cash and working capital deficit of $114,688. Further, we expect to incur significant costs in pursuit of our acquisition
plans. Our plans to raise capital and to consummate our initial business combination may not be successful. In addition, management is
currently evaluating the impact of the Russia-Ukraine war, the war in Israel, interest rate fluctuations and increased inflation, and
the recently adopted SEC rules and amendments affecting special purpose acquisition corporations like the Company, and has concluded
that while it is reasonably possible that such matters could have a negative effect on the Company’s financial position, cash flows,
results of its operations and/or search for a target company, the specific impacts are not readily determinable as of March 31,
2025. These factors, among others, raise substantial doubt about our ability to continue as a going concern. The financial statements
contained elsewhere in this report do not include any adjustments that might result from our inability to continue as a going concern.

Changes in laws or regulations, or a failure to comply with any laws and regulations, may adversely affect our business, investments and results of operations.

We are subject to laws and regulations
enacted by national, regional and local governments. In particular, we will be required to comply with certain SEC and other legal requirements.
Compliance with, and monitoring of, applicable laws and regulations may be difficult, time consuming and costly. Those laws and regulations
and their interpretation and application also may change from time to time and those changes could have a material adverse effect on
our business, investments and results of operations. In addition, a failure to comply with applicable laws or regulations, as interpreted
and applied, could have a material adverse effect on our business and results of operations.

We are subject to changing law and regulations regarding regulatory matters, corporate governance and public disclosure that have increased both our costs and the risk of non-compliance.

We are subject to rules and
regulations by various governing bodies, including, for example, the SEC, which are charged