Company: CDAQF
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001641172-25-000421
Chunk: 1402

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 9
Chunk 1402
---
-K Summary.

Omitted
at our Company’s option.

56

COMPASS
DIGITAL ACQUISITION CORP.

INDEX
TO FINANCIAL STATEMENTS

    Report of Independent Registered Public Accounting Firm (PCAOB ID #100, WithumSmith+Brown, PC) 
    F-2

    Financial Statements:

    Balance Sheets as of December 31, 2024 and 2023
    F-3

    Statements of Operations for the years ended December 31, 2024 and 2023
    F-4

    Statements of Changes in Shareholders’ Deficit for the years ended December 31, 2024 and 2023
    F-5

    Statements of Cash Flows for the years ended December 31, 2024 and 2023
    F-6

    Notes to Financial Statements
    F-7

F-1

REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To
the Shareholders and the Board of Directors of

Compass
Digital Acquisition Corp.:

Opinion
on the Financial Statements

We
have audited the accompanying balance sheets of Compass Digital Acquisition Corp. (the “Company”) as of December 31, 2024
and 2023, the related statements of operations, changes in shareholders’ deficit, and cash flows for the years then ended, and
the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present
fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023 and the results of its operations
and its cash flows for the years then ended, in conformity with accounting principles generally accepted in the United States of America.

Going
Concern

The
accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note
1 to the financial statements, if the Company is unable to raise additional funds to alleviate liquidity needs and complete a business
combination by April 19, 2025, then the Company will cease all operations except for the purpose of liquidating. The liquidity condition
and date for mandatory liquidation and subsequent dissolution raises substantial doubt about the Company’s ability to continue
as a going concern. Management’s plans in regard to these matters are also described in Note 1. The financial statements do not
include any adjustments that might result from the outcome of this uncertainty