Digital Asset Acquisition (DAAQU) delays Q2 2025 10-Q filing deadline

Rhea-AI Filing Summary

Digital Asset Acquisition Corp. has filed a notification that it will not file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 on time. The company states it needs additional time to finalize its financial statements and that filing by the original deadline would require unreasonable effort or expense. It expects to submit the Form 10-Q as soon as practicable and in any event within the five‑day extension period allowed by SEC rules, although it gives no assurance this will occur. The company also cautions that its ongoing review could lead to a material delay in financial reporting and could identify errors or control deficiencies in its accounting practices.

Insights

Equity analyst – reporting & governance focus

Late 10-Q tied to extra review time, with stated risk of delay and possible accounting issues.

Digital Asset Acquisition Corp. discloses it cannot file its Form 10-Q for the quarter ended June 30, 2025 by the prescribed deadline because it needs more time to finalize financial statements. It is using the standard Rule 12b-25 extension, indicating the report is expected within five calendar days of the original due date.

The company notes there is no assurance it will meet this extended window and highlights that an ongoing review could reveal errors or control deficiencies in accounting practices. This language introduces some uncertainty around the timing and reliability of upcoming financials, even though no specific issues or magnitudes are identified.

Overall, this is an administrative delay with cautionary wording rather than a quantified financial event. Subsequent disclosures in the eventual Form 10-Q, especially any discussion of identified errors or control matters, will be central to understanding whether this delay reflects a more significant underlying problem.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 12b-25

NOTIFICATION OF LATE FILING

Commission File Number 001-42612

CUSIP Number: G2868C 101

(Check One):		☐ Form 10-K ☐ Form 20-F ☐ Form 11-K ☒ Form 10-Q ☐ Form 10-D ☐ Form N-CEN ☐ Form N-CSR
		For Period Ended: June 30, 2025
		☐ Transition Report on Form 10-K
		☐ Transition Report on Form 20-F
		☐ Transition Report on Form 11-K
		☐ Transition Report on Form 10-Q
		For the Transition Period Ended:

Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.

If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates: N/A

PART I – REGISTRANT INFORMATION

Digital Asset Acquisition Corp.

Full Name of Registrant

N/A

Former Name, if Applicable

174 Nassau Street, Suite 2100

Address of Principal Executive Office (Street and Number)

Princeton, New Jersey 08542

City, State and Zip Code

PART II – RULES 12b-25(b) AND (c)

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)

☒		(a)	The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;
		(b)	The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-CEN or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and
		(c)	The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.

PART III – NARRATIVE

State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-CEN, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.

Digital Asset Acquisition Corp. (the “Company”) is unable to timely file with the U.S. Securities and Exchange Commission (the “SEC”) its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 (the “Form 10-Q”). The Company requires additional time to finalize the Company’s financial statements. As a result, the Company is unable to file the Form 10-Q by the prescribed due date without unreasonable effort or expense. While there can be no assurance, the Company anticipates that the Form 10-Q will be filed as soon as practicable and in any event on or prior to the fifth calendar day following the prescribed due date.

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PART IV – OTHER INFORMATION

(1)		Name and telephone number of person to contact in regard to this notification:
		Jeff Tuder		(609)		924-0759
		(Name)		(Area code)		(Telephone Number)
(2)		Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If the answer is no, identify report(s). ☒ Yes ☐ No
(3)		Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof? ☐ Yes ☒ No
		If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.

Forward-Looking Statements

Certain statements made herein are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words and phrases such as “will”, “may”, “should”, “future”, “promptly”, “expect”, “estimate”, “anticipate,” “intends”, “plans”, “subject to”, and “change” and other similar expressions that predict or indicate future events or trends or that are not statements of historical fact. Such statements may include, but are not limited to, the filing of the Form 10-Q and the results of the ongoing review. These statements are based on current expectations on the date hereof and involve a number of risks and uncertainties that may cause actual results to differ significantly. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, including without limitation a material delay in the Company’s financial reporting, including the possibility that the Company will not be able to file its Form 10-Q within the five-day extension permitted by the rules of the SEC, and the possibility that the ongoing review may identify errors or control deficiencies in the Company's accounting practices. The Company does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise.

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Digital Asset Acquisition Corp.

(Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.

Date: August 14, 2025	By:	/s/ Jeff Tuder
		Name: Jeff Tuder
		Title: Chief Financial Officer

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FAQ

Why did Digital Asset Acquisition Corp. (DAAQU) delay its Form 10-Q filing?

The company states it is unable to timely file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 because it requires additional time to finalize its financial statements, and filing by the due date would require unreasonable effort or expense.

When does Digital Asset Acquisition Corp. expect to file the delayed Form 10-Q?

The company anticipates filing the Form 10-Q as soon as practicable and in any event on or prior to the fifth calendar day following the prescribed due date, although it expressly notes there can be no assurance this will occur.

What risks does Digital Asset Acquisition Corp. highlight related to the late 10-Q?

The company warns of the possibility of a material delay in its financial reporting, including that it may not be able to file the Form 10-Q within the five-day extension permitted by SEC rules, and that the ongoing review may identify errors or control deficiencies in its accounting practices.

What SEC rule is Digital Asset Acquisition Corp. relying on for the 10-Q extension?

The company is using the relief available under Rule 12b-25, which allows a quarterly report on Form 10-Q to be filed up to five calendar days after the prescribed due date if the conditions of the rule are met.

Does the filing mention prior compliance with other periodic reports for DAAQU?

The document includes a question about whether all other required periodic reports during the preceding 12 months have been filed, but in the provided content no specific missing reports are identified.

Who signed the late filing notification for Digital Asset Acquisition Corp.?

The notification was signed on behalf of the company by Jeff Tuder, who is identified as the Chief Financial Officer.