Company: CDAQF
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021994
Chunk: 122

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 122
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 statements of operations and described within their
respective disclosures.

NOTE
12 - SUBSEQUENT EVENTS

The
Company evaluated events that have occurred after the condensed balance sheet date up through the date the accompanying unaudited condensed
financial statements were issued. Based upon the review, Management did not identify any other subsequent events, that would have required
adjustment or disclosure in the accompanying unaudited condensed financial statements, except as follows:

On
October 3, 2025, the Company drew an additional $250,000 under the Polar working capital loan to fund ongoing operating expenses.

On
November 3, 2025, the Company received the Notice from EEW purporting to terminate the Business Combination Agreement pursuant to Sections
10.1(b) 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