Company: CDAQF
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010268
Chunk: 1

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 1
---
     -  
     - 
  
    Class A Ordinary Shares, $0.0001 par value; 200,000,000 shares authorized; 3,200,000 shares issued and outstanding (excluding the 2,481,485 shares subject to possible redemption) at March 31, 2025 and December 31, 2024 
     320  
     320 
  
    Class B Ordinary Shares, $0.0001 par value; 20,000,000 shares authorized, 2,110,122 issued and outstanding at March 31, 2025 and December 31, 2024 
     211  
     211 
  
    Common stock, value 
     211  
     211 

    Accumulated deficit 
     (6,955,145) 
     (6,229,543)
  
    Total shareholders’ deficit 
     (6,954,614) 
     (6,229,012)
  
    Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption, and Shareholders’ Deficit 
    $27,915,446  
    $27,689,918 

The accompanying notes are an integral part of these
unaudited condensed financial statements.

1

COMPASS DIGITAL ACQUISITION CORP.

UNAUDITED CONDENSED STATEMENTS OF OPERATIONS

    For The Three
                                                                                Months Ended
                                                                                March 31, 2025  
    For The Three
                                                                                Months Ended
                                                                                March 31, 2024 

    Operating expenses 
    $460,342  
    $207,696 
  
    Administrative expenses – related party 
     30,000  
     30,000 
  
    Loss from operations 
     (490,342) 
     (237,696)
  
    Interest earned on cash  held in the Trust Account 
    $242,531  
    $631,967 
  
    Change in fair value of non-redemption liability 
     111,374  
     — 
  
    Change in fair value of derivative warrant liabilities 
     (123,886) 
     (507,461)
  
    Net loss 
    $(483,071) 
    $(113,190)

    Weighted average shares outstanding of Class A Ordinary Shares subject to possible redemption, basic and diluted 
     2,481,485