Company: CDAQF
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010268
Chunk: 108

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 108
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8 - CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION

The
Class A Ordinary Shares feature certain redemption rights that are considered to be outside of the Company’s control and
subject to the occurrence of future events. The Company is authorized to issue 200,000,000
Class A Ordinary Shares with a par value of $0.0001
per share. Holders of the Class A Ordinary Shares are entitled to one vote for each share. As of March 31, 2025 and December 31,
2024, there were 5,681,485
Class A Ordinary Shares outstanding, of which 2,481,485
shares were subject to possible redemption and classified outside of permanent equity in the Company’s condensed balance
sheets.

The
reconciliation of Class A Ordinary Shares subject to possible redemption is as follows:

 SCHEDULE
OF CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION

    Class A Ordinary Shares subject to possible redemption at December 31, 2023 
    $55,347,556 
  
    Plus: 

    Accretion of Class A Ordinary Shares to redemption value 
     1,928,109 
  
    Less: 

    Redemption of Class A Ordinary Shares 
     (29,638,365)
  
    Class A Ordinary Shares subject to possible redemption at December 31, 2024 
    27,637,300 
  
    Plus: 

    Accretion of Class A Ordinary Shares to redemption value 
     242,531 
  
    Class A Ordinary Shares subject to possible redemption at March 31, 2025 
    $27,879,831 

NOTE
9 – SHAREHOLDERS’ DEFICIT

Preference
Shares

The
Company is authorized to issue 1,000,000 preference shares with $0.0001 par value. As of March 31, 2025 and December 31, 2024, there
were no preference shares issued or outstanding.

Class
A Ordinary Shares

The
Company is authorized to issue up to 200,000,000
Class A Ordinary Shares, $0.0001
par value per share. Holders
of the Class A Ordinary Shares are entitled to one vote for each share. As of March 31, 2025 and December 31, 2024, there
were 5,681,485
Class A Ordinary Shares issued and outstanding. Of the outstanding