Company: DMAAR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076681
Chunk: 22

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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, subsequent to the initial Business Combination, the Company consummates a liquidation, merger, share exchange
or other similar transaction which results in all of the shareholders having the right to exchange their ordinary shares for cash, securities
or other property.

Administrative Support Agreement

The Company has entered into an administrative
services agreement, effective on January 7, 2025, pursuant to which the Company has agreed to pay the Sponsor or an affiliate $10,000
for office space, and administrative and support services. Upon completion of the initial Business Combination or the Company’s
liquidation, the administrative services agreement will terminate, and the Company will cease paying these monthly fees. For the three
and six months ended June 30, 2025, the Company incurred $30,000 and $51,000 in administrative support fees and included in general and
administrative costs on the unaudited statement of operations. As of June 30, 2025, $1,000 is included in accounts payable and accrued
expenses in the accompanying unaudited balance sheets and $50,000 was a reduction in share subscription receivable on the unaudited balance
sheet. For the period from May 23, 2024 (inception) through June 30, 2024, we did not incur fees for these services.

12

DRUGS MADE IN AMERICA ACQUISITION CORP.

NOTES TO FINANCIAL STATEMENTS

JUNE 30, 2025

(Unaudited)

Promissory Note — Related Party

On June 13, 2024, the Sponsor issued an unsecured
promissory note to the Company (the “Promissory Note”), pursuant to which the Company may borrow up to an aggregate principal
amount of $500,000. On November 21, 2024, the Sponsor amended the Promissory Note to increase the amount the Company may borrow to $750,000.
On December 5, 2024, the Sponsor further amended the Promissory Note to increase the amount the Company may borrow to $1,850,000. The
Promissory Note is non-interest bearing and shall be due and payable upon the closing of the Company’s initial Business Combination
or upon the Company’s dissolution, whichever occurs first. During the period from May 23, 2024 (inception) through December 31,
2024, the Company received funds totaling approximately $1,700,000 from various investors