Company: DAAQ
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110841
Chunk: 64

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 64
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50 per whole share, subject
to adjustment (see Note 8).

NOTE 4. PRIVATE PLACEMENT

Simultaneously with the closing of the Initial
Public Offering, the Company consummated the sale of 5,450,000 Private Placement Warrants at a price of $1.00 per warrant generating gross
proceeds of $5,450,000. Of the 5,450,000 Private Placement Warrants, the Underwriters purchased an aggregate of 1,725,000 Private Placement
Warrants and the Sponsor purchased 3,725,000 Private Placement Warrants. The proceeds from the sale of the Private Placement Warrants
were added to the net proceeds from the Initial Public Offering held in the Trust Account. If the Company does not complete a Business
Combination within the Completion Period, the proceeds from the sale of the Private Placement Warrants held in the Trust Account will
be used to fund the redemption of the Public Shares (subject to the requirements of applicable law) and the Private Placement Warrants
will expire worthless.

12

DIGITAL ASSET ACQUISITION CORP.

SEPTEMBER 30, 2025

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

NOTE 5. SEGMENT INFORMATION

ASC 280 establishes standards for companies to
report, in their financial statements, information about operating segments, products, services, geographic areas, and major customers.
Operating segments are defined as components of an enterprise that engage in business activities from which it may recognize revenues
and incur expenses, and for which separate financial information is available that is regularly evaluated by the Company’s CODM
in deciding how to allocate resources and assess performance.

The Company’s CODM has been identified as
the Chief Financial Officer, who reviews the operating results for the Company as a whole to make decisions about allocating resources
and assessing financial performance. Management has determined that the Company only has one reportable segment.

The CODM assesses performance for the single
segment and decides how to allocate resources based on net income or loss that also is reported on the condensed statements of
operations as net income or loss. The measure of segment assets is reported on the condensed balance sheets as total assets. When
evaluating the Company’s performance and making key decisions regarding resource allocation, the CODM reviews several key
metrics, which include the following:

    September 30,
 2025  
    December 31,
 2024 
  
    Total assets