Company: CDT
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022373
Chunk: 12

Company: CDT Equity Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 12
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 subsidiaries’
functional currency are re-measured into the reporting currency at the historical exchange rate (i.e., the rate of exchange at the date
of the transaction).

Recently
Issued Accounting Standards Adopted

In
December 2023, the FASB issued ASU No. 2023-08, Intangibles-Goodwill and Other-Crypto Assets (Subtopic 350-60): Accounting for and Disclosure
of Crypto Assets. The amendments in ASU No. 2023-08 are intended to improve the accounting for certain crypto assets by requiring an
entity to measure those crypto assets at fair value each reporting period with changes in fair value recognized in net income. The amendments
also improve the information provided to investors about an entity’s crypto asset holdings by requiring disclosure about significant
holdings, contractual sale restrictions, and changes during the reporting period. The amendments are effective for all entities for fiscal
years beginning after December 15, 2024, including interim periods within those fiscal years. Early adoption is permitted for both interim
and annual financial statements. The Company elected to adopt ASU 2023-08, effective as of July
1, 2025, the first quarter in which the Company held digital assets. Refer to Note 3 for further information.

Recently Issued
Accounting Standards Not Yet Adopted

In
December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”).
ASU 2023-09 modifies the reporting requirements for income tax disclosures related to effective tax rates and cash income taxes paid.
Pursuant to ASU 2023-09, public business entities are required to disclose certain categories in the income tax rate reconciliation,
as well as additional information for reconciling items that meet a specific quantitative threshold. Additionally, ASU 2023-09 requires
annual disclosures of income taxes paid for all entities, including the amount of income taxes paid, net of refunds received, disaggregated
by federal, state, and foreign jurisdictions. ASU 2023-09 is effective for the Company in its annual reporting for fiscal 2025 on a prospective
basis. Early adoption and retrospective reporting are permitted. The Company
is currently evaluating the impact of ASU 2023-09 on its consolidated financial statements.

In
November 2024, the FASB issued ASU 2024-03