Thu, Jun 12, 8:23 PM (32 days ago)
**Digital Asset Acquisition Corp. (DAAQ) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** $0 (no operational revenue as the company is in the pre-operational phase). - **Net Loss:** $54,616 due to general and administrative expenses. - **Cash Flow:** Net cash used in operating activities was $25,000. - **Profit Margins:** Not applicable due to zero revenue. - **Earnings Changes:** No earnings as the company is yet to commence operations. **Key Financial Metrics:** - **Total Assets:** $201,170 (primarily deferred offering costs). - **Liabilities:** $235,898 (including accrued expenses and promissory notes). - **Shareholder's Equity:** $(34,728) (indicating a deficit). **Quarterly Performance Discussion:** - The company completed its Initial Public Offering (IPO) on April 30, 2025, raising $172,500,000 from 17,250,000 units, including the over-allotment option. - Simultaneously, the company sold 5,450,000 Private Placement Warrants, generating $5,450,000. - The proceeds from the IPO and warrant sales were placed in a trust account, to be used for a future business combination. **Trends & Uncertainties:** - The company is an early-stage blank check company with no operational history. - It has until October 30, 2026 (or January 30, 2027, if certain conditions are met) to complete a business combination. - If a business combination is not completed, the company will liquidate and dissolve. - The company's future operations and financial performance depend on the successful completion of a business combination. **Future Operations Impact:** - The company will use the funds from the trust account to complete a business combination. - The specific target and terms of the business combination are not yet determined. - The company's future financial performance will depend on the nature of the acquired business and market conditions. **Ticker:** DAAQ (NASDAQ) **Note:** Amounts are in thousands ($000s). The company is subject to the risks associated with early-stage and emerging growth companies. The financial information is unaudited and subject to change.