Company: DAAQ
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078074
Chunk: 180

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-08-19
Form: 10-Q
Item: Item 1
Chunk 180
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 allocating resources and assessing financial performance. Management has determined that the Company only has
one reportable segment.

The
CODM assesses performance for the single segment and decides how to allocate resources based on net income or loss that also is reported
on the statements of operations as net income or loss. The measure of segment assets is reported on the balance sheets as total assets.
When evaluating the Company’s performance and making key decisions regarding resource allocation, the CODM reviews several key
metrics, which include the following:

    June
    30,
    2025  
    December 31,
    2024 

    Total assets 
    $175,066,597  
    $25,000 

11

DIGITAL
ASSET ACQUISITION CORP. 

JUNE
30, 2025

NOTES
TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

    Six
    Months Ended 
    June 30, 
    2025 

    General and administrative expenses 
    $172,828 
  
    Net income 
    $974,692 

General
and administrative expenses are reviewed and monitored by the CODM to manage and forecast cash to ensure enough capital is available
to complete a Business Combination or similar transaction within the Completion Period. The CODM also reviews general and administrative
expenses to manage, maintain and enforce all contractual agreements to ensure costs are aligned with all agreements and budget. General
and administrative expenses, as reported on the statement of operations, are the significant segment expenses provided to the CODM on
a regular basis.

All
other segment items included in net income or loss are reported on the statements of operations and described within their respective
disclosures.

NOTE
6. RELATED PARTY TRANSACTIONS

Founder
Shares

On
December 11, 2024, the Sponsor was issued 5,750,000 Class B ordinary shares (the “Founder Shares”) for an aggregate price
of $25,000 paid to cover certain expenses on behalf of the Company. The Founder Shares included an aggregate of up to 750,000 Class B
ordinary shares subject to forfeiture by the Sponsor to the extent that the Underwriters’ over-allotment option was not exercised
in full or in part, so that the Sponsor would own, on an as-converted basis, 25% of the Company’s issued and outstanding shares
after the Initial Public Offering (assuming the Sponsor does not purchase any Public Shares in the Initial