Company: CDAQF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023544
Chunk: 59

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 59
---
 see Item 1. “Business”.

23

Results
of Operations

Our
entire activity from inception up to June 30, 2025, relates to our formation, Initial Public Offering, the search for a target business
and the consummation of an initial Business Combination, such as the Transactions with EEW. We will not be generating any operating revenues
until the closing and completion of our initial Business Combination, at the earliest. We generate non-operating income in the form of
interest income on cash and cash equivalents or investments from the proceeds derived from the Initial Public Offering and the Private
Placement, which are partially offset by operating expenses and related party administrative expenses. We incur increased expenses as
a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence
expenses.

For
the three months ended June 30, 2025, we had a net loss of $414,138, consisting of $127,120 in loss from operations, of which $97,120
were operating expenses, including $30,000 of administrative expenses with related party and a change in fair value of non-redemption
liability of $15,640, and a change in fair value of derivative warrant liabilities of $352,602 offset by interest earned on cash held
in the Trust Account of $81,044.

For
the six months ended June 30, 2025, we had a net loss of $897,389, consisting of $617,462 in loss from operations, of which $557,462
were operating expenses, including $60,000 of administrative expenses with related party and a change in fair value of non-redemption
liability of $127,014, and a change in fair value of derivative warrant liabilities of $476,488 offset by interest earned on cash held
in the Trust Account of $323,575.

For
the three months ended June 30, 2024, we had net income of $475,460, consisting of $669,154 loss from operations, all of which were operating
expenses, including $60,000 of administrative expenses with related party, and a change in fair value of derivative warrant liabilities
of $382,382, offset by interest earned on cash held in the Trust Account of $639,184.

For
the six months ended June 30, 2024, we had net income of $362,270, consisting of $783,802 loss