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

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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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

JUNE 30, 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 had $822 and $1,351 in cash and no
cash equivalents as of June 30, 2025 and December 31, 2024, respectively.

Cash and Investments Held in Trust Account

At June 30, 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 of
operations. The estimated fair values of cash and investments held in Trust Account are determined using available market information.
Fair values of these investments are determined by Level 1 inputs utilizing quoted prices (unadjusted) in active markets for identical
assets.

Offering Costs

The Company complies with the requirements of
the ASC 340-10-S99 and SEC Staff Accounting Bulletin (“SAB”) Topic 5A — “Expenses of Offering”.
Offering costs consist principally of professional and registration fees that are related to the Initial Public Offering. FASB ASC 470-20,
“Debt with Conversion and Other Options,” addresses the allocation of proceeds from the issuance of convertible debt into
its equity and debt components. The Company applies this guidance to allocate Initial Public Offering proceeds from the Units between
ordinary shares and rights, using the residual method by allocating Initial Public Offering proceeds first to assigned value of the rights
and then to the ordinary shares. Offering costs allocated to the ordinary shares were charged to temporary equity