Company: DAAQ
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110841
Chunk: 1

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 1
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 par value; 500,000,000 shares authorized; none issued or outstanding at September 30, 2025 and December 31, 2024 (excluding 17,250,000 Class A ordinary shares subject to possible redemption) 
     —  
     — 
  
    Class B ordinary shares, $0.0001 par value, 50,000,000 shares authorized, 5,750,000 shares issued and outstanding at September 30, 2025 and December 31, 2024 (1) 
     575  
     575 
  
    Additional paid-in capital 
     —  
     24,425 
  
    Accumulated deficit 
     (5,762,644) 
     (5,112)
  
    Total Shareholders’ Equity (Deficit) 
     (5,762,069) 
     19,888 
  
    LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT) 
    $176,739,725  
    $25,000 

(1)At December 31, 2024, included 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.

1

DIGITAL ASSET ACQUISITION CORP.

CONDENSED STATEMENTS OF OPERATIONS

FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER
30, 2025

(UNAUDITED)

    For the
 three months
 ended
 September 30,
 2025  
    For the
 nine months
 ended
 September 30,
 2025 
  
    General and administrative expenses 
    $116,692  
    $289,520 
  
    Loss from operations 
     (116,692) 
     (289,520)

    Other income: 

    Net earnings on marketable securities held in Trust Account 
     1,801,001  
     2,948,521 
  
    Net earnings on cash equivalents held in Operating Account