Company: DAAQ
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110841
Chunk: 2

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 2
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 6,322  
     6,322 
  
    Net income 
    $1,690,631  
    $2,665,323 

    Weighted average shares outstanding, Class A ordinary shares 
     17,250,000  
     9,703,125 
  
    Basic and diluted net income per Class A ordinary share 
    $0.07  
    $0.18 

    Basic weighted average shares outstanding, Class B ordinary shares(1) 
     5,750,000  
     5,421,875 
  
    Basic net income per Class B ordinary share 
    $0.07  
    $0.18 

    Diluted weighted average shares outstanding, Class B ordinary shares(1) 
     5,750,000  
     5,501,838 
  
    Diluted net income per Class B ordinary share 
    $0.07  
    $0.18 

(1)The calculation of basic and diluted net income per ordinary share for the nine months ended September 30, 2025 excluded up to 750,000 Class B ordinary shares that were subject to forfeiture if the over-allotment option was not exercised in full or in part by the Underwriters (see Note 6). On April 30, 2025, the Underwriters’ over-allotment option was exercised in full simultaneously with the Initial Public Offering, and the 750,000 Class B ordinary shares were no longer subject to forfeiture.

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

2

DIGITAL ASSET ACQUISITION CORP.

CONDENSED STATEMENT OF CHANGES IN SHAREHOLDERS’
EQUITY (DEFICIT)

FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER
30, 2025

(UNAUDITED)

    Class B Ordinary Shares(1)  
    Additional Paid-in  
    Accumulated  
    Total Shareholders’ 

    Shares  
    Amount  
    Capital  
    Deficit  
    Deficit 
  
    Balance at July 1, 2025 
     5,750,000  
    $575  
    $—  
    $(5,652,093) 
    $(5,651,518)
  
    Accretion of Class A ordinary shares subject to possible
    redemption to