Company: DAAQ
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078074
Chunk: 165

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-08-19
Form: 10-Q
Item: Item 1
Chunk 165
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, less
    issuance costs 
     3,829,991 
  
    Proceeds from Public
    Warrants, less issuance costs 
     468,608 
  
    Net
    cash provided by financing activities 
     172,341,564 

    Net Change in Cash 
     — 
  
    Cash - Beginning of period 
     — 
  
    Cash - End of period 
    $— 

    Supplemental Disclosure
    of Non-Cash Investing and Financing Activities: 

    Deferred underwriting
    fee payable charged to Class A ordinary share issuance costs 
    $6,900,000 
  
    Repayment of promissory
    note – related party by Sponsor 
    $112,848 
  
    Proceeds from Initial
    Public Offering and sale of Private Placement Warrants held by Sponsor 
    $1,602,224 

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

4

DIGITAL
ASSET ACQUISITION CORP. 

JUNE
30, 2025

NOTES
TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

NOTE
1. DESCRIPTION OF ORGANIZATION, BUSINESS OPERATIONS AND GOING CONCERN

Digital
Asset Acquisition Corp. (the “Company”) is a blank check company incorporated in the Cayman Islands on December 9, 2024.
The Company was formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or
similar business combination with one or more businesses (a “Business Combination”). The Company is not limited to a particular
industry or geographic region for purposes of consummating a Business Combination. The Company is an early stage and emerging growth
company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies.

As
of June 30, 2025, the Company had not commenced any operations. All activity for the period from December 9, 2024 (inception) through
June 30, 2025 relates to the Company’s formation and initial public offering (“Initial Public Offering”). The Company
will not generate any operating revenues until after the completion of a Business Combination, at the earliest. The Company will generate
non-operating income in the form of interest income on cash and cash equivalents from the proceeds derived from the Initial Public Offering
and sale of Private Placement