Company: KOYNU
Filing Date: 2025-07-31
Form Type: S-1/A
Source: 0001829126-25-005627
Chunk: 220

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-07-31
Form: S-1/A
Chunk 220
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 may have insufficient funds available to operate our business prior to our initial business combination. Moreover, we may need
to obtain additional financing either to consummate our initial business combination or because we become obligated to redeem a significant
number of our public shares upon consummation of our initial business combination, in which case we may issue additional securities or
incur debt in connection with such business combination. Subject to compliance with applicable securities laws, we would only consummate
such financing simultaneously with the consummation of our initial business combination. Following our initial business combination,
if cash on hand is insufficient, we may need to obtain additional financing in order to meet our obligations.

As of March 31, 2025, we
had $25,000 in cash and working capital deficit of $114,688. We have incurred and expect to continue to incur significant costs in pursuit
of our acquisition plans. Our plans to raise capital and to consummate our initial business combination may not be successful. These
factors among others raise substantial doubt about our ability to continue as a going concern.

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Controls and Procedures

We are not currently required
to maintain an effective system of internal controls as defined by Section 404 of the Sarbanes-Oxley Act. We will be required to
comply with the internal control requirements of the Sarbanes-Oxley Act for the fiscal year ending December 31, 2026. Only in the
event that we are deemed to be a large accelerated filer or an accelerated filer and no longer an emerging growth company would we be
required to comply with the independent registered public accounting firm attestation requirement. Further, for as long as we remain
an emerging growth company as defined in the JOBS Act, we intend to take advantage of certain exemptions from various reporting requirements
that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required
to comply with the independent registered public accounting firm attestation requirement.

Prior to the closing of this
offering, we will not have completed an assessment, nor will our independent registered public accounting firm have tested our systems,
of internal controls. However, we have determined that we currently lack properly designed, implemented and effectively operating controls
which would constitute a material weakness in our internal control over financial reporting. Management, with oversight from the board
of directors and the audit committee of the board of directors will implement a remediation plan for this material weakness, including