Company: KOYNU
Filing Date: 2025-08-12
Form Type: S-1/A
Source: 0001829126-25-006117
Chunk: 418

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-08-12
Form: S-1/A
Chunk 418
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 auditing standards generally accepted in the United States of America. Those standards
require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material
misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal
control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial
reporting but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial
reporting. Accordingly, we express no such opinion.

Our audits included performing procedures
to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that
respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial
statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well
as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ Elliott Davis, PLLC

We have served as the Company’s auditor since
2024.

Charlotte, North Carolina

June 18, 2025 except for Notes 1, 6, and 9,
as to which the date is July 22, 2025

<div align='center'>F-20</div>

<div align='center'>CSLM Digital Asset Acquisition Corp III, Ltd

BALANCE SHEETS</div>

| ASSETS                                                                                                                    |     | March 31, 
 2025      |         |   |     | December 31, 
 2024         |         |   |
|:--------------------------------------------------------------------------------------------------------------------------|:----|:----------|--------:|:--|:----|:-------------|--------:|:--|
| Current asset –                                                                                                           
 cash                                                                                                                      |     | $         |  25,000 |   |     | $            |       - |   |
| Deferred                                                                                                                  
 offering costs                                                                                                            |     |           |  85,281 |   |     |              |  35,480 |   |
| Total                                                                                                                     
 Assets                                                                                                                    |     | $         | 110,281 |   |     | $            |  35,480 |   |
| LIABILITIES                                                                                                               
 AND SHAREHOLDER’S DEFICIT                                                                                                 |     |           |         |