Company: DMAAR
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001213900-25-046061
Chunk: 11

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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 out of the extended transition period and comply with the requirements that apply to non-emerging growth companies
but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means
that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging
growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison
of the Company’s financial statement with another public company which is neither an emerging growth company nor an emerging growth
company which has opted out of using the extended transition period, difficult or impossible because of the potential differences in accounting
standards used.

Use of Estimates

The preparation of financial statement in conformity
with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities
and disclosure of contingent assets and liabilities at the date of the financial statement.

Making estimates requires management to exercise
significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances
that existed at the date of the financial statement, which management considered in formulating its estimate, could change in the near
term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.

8

DRUGS MADE IN AMERICA ACQUISITION CORP.

NOTES TO FINANCIAL STATEMENTS

MARCH 31, 2025

(Unaudited)

Cash and Cash Equivalents

The Company considers all short-term investments
with an original maturity of three months or less when purchased to be cash equivalents. The Company has $923 and $1,351 in cash and no
cash equivalents as of March 31, 2025 and December 31, 2024, respectively.

Cash and Investments Held in Trust Account

At March 31, 2025, cash and investments held in
the Trust Account were held in money market funds which invest in U.S. Treasury securities. All of the Company’s cash and investments
held in the Trust Account are classified as trading securities. Trading securities are presented on the unaudited balance sheets at fair
value at the end of each reporting period. Gains and losses resulting from the change in fair value of cash and investments held in the
Trust Account are included in interest earned on cash and investments held in Trust Account in the accompanying unaudited statement