Company: DMAAR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076681
Chunk: 37

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 We generate non-operating income in the form of interest earned on cash and investments held in the
trust account. We incur 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 income of $2,288,579, which consists of interest earned on cash and investments held in the trust account of $2,420,498, offset
by general and administrative costs of $131,919.

For the six months ended June 30, 2025, we had
a net income of $3,543,122, which consists of interest earned on cash and investments held in the trust account of $4,005,966, offset
by general and administrative costs of $462,844.

For the period from May 23, 2024 (inception) through
June 30, 2024, we had a net loss of $54,931, which consists of general and administrative costs.

Liquidity and Capital Resources

As of June 30, 2025, we had cash of $822. Until
the consummation of the Initial Public Offering, our only source of liquidity was an initial purchase of ordinary shares by the sponsor
and loans from our sponsor.

On January 29, 2025, we consummated the Initial
Public Offering of 20,000,000 Units, at a price of $10.00 per unit, generating gross proceeds of $200,000,000. Simultaneously with the
closing of the Initial Public Offering, we consummated the sale of 400,000 Private Placement Units to the sponsor at a price of $10.00
per unit for $4,000,000, of which $1,100,000 was not received and included as share subscription receivable. Since the Initial Public
Offering until June 30, 2025, the Sponsor has paid $404,175 in expenses on behalf of the Company (including $50,000 related to the administrative
support agreement) affecting the share subscription receivable on the unaudited balance sheet to $695,825. On February 18, 2025, the underwriters
exercised their over-allotment option to purchase an additional 3,000,000 Units at a purchase price of $10.00 per Unit, generating additional
gross proceeds of