Company: DMAAR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076681
Chunk: 23

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 on behalf of the Sponsor. These monies represent
advances paid to the Sponsor for purchase of Founder Shares upon successful completion of the Initial Public Offering. The monies were
received on behalf of the Sponsor and deposited into the Company’s bank account instead of the Sponsor’s bank account. During
the period from May 23, 2024 (inception) through December 31, 2024, the Company repaid approximately $1,200,000 of the balance due to
the Sponsor related to investments it had received on behalf of the Sponsor, resulting in a balance of approximately $500,000 due to the
Sponsor, which is accounted for as part of the promissory note amount on the unaudited balance sheets. In conjunction with the Initial
Public Offering $900,000 was repaid to the Sponsor, $204,000 in deferred offering costs were paid by the Sponsor and $94,574 in expenses
were paid by the Sponsor. As of June 30, 2025 and December 31, 2024, there was $0 and $662,324, respectively, outstanding under the Promissory
Note.

Advisory Services

The Company received advisory services from an
uncompensated related party advisor, husband to the CEO of the Company (the “Advisor”). The role of such advisor is to assist
in the day-to-day transactions of the Company.

CFO Agreement

Effective July 1, 2024, the Company’s CFO
has a consulting agreement with the Company. For the three and six months ended June 30, 2025, the Company has incurred $8,825 and $22,764
of expense reported in general and administrative costs on the unaudited statement of operations, respectively. As of June 30, 2025 and
December 30, 2024, $20,000 and $0, respectively, was paid by the Advisor. As of June 30, 2025 and December 31, 2024, $0 and $1,300 is
included in accounts payable and accrued expenses on the balance sheets.

Related Party Loans

In order to finance transaction costs in connection
with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors may,
but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). If the Company completes a
Business Combination, the Company would repay the Working Capital Loans out