DMAAU
DMAAU
Drugs Made In America Acquisition Corp. UnitsIncome Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q3-2025 | $0 | $263.7K ▲ | $2.18M ▼ | 0% | $0.07 ▲ | $-263.7K ▼ |
| Q2-2025 | $0 | $131.92K ▼ | $2.29M ▲ | 0% | $0.07 ▼ | $-131.92K ▲ |
| Q1-2025 | $0 | $330.93K ▲ | $1.25M ▲ | 0% | $130.51 ▲ | $-330.93K ▼ |
| Q4-2024 | $0 | $279.88 ▼ | $-279 ▲ | 0% | $-0.03 ▼ | $0 ▲ |
| Q3-2024 | $0 | $144.93K | $-144.93K | 0% | $-0.01 | $-144.93K |
What's going well?
The company is earning solid interest income, which is keeping it profitable on paper. The reduction in share count has boosted earnings per share.
What's concerning?
There is no revenue, and operating losses are growing. The only reason for profit is interest income, not actual business operations – this is not sustainable.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q3-2025 | $717 ▼ | $237.63M ▲ | $7.36M ▲ | $230.28M ▲ |
| Q2-2025 | $822 ▼ | $235.21M ▲ | $7.2M ▼ | $228M ▲ |
| Q1-2025 | $923 ▼ | $232.81M ▲ | $7.25M ▲ | $225.56M ▲ |
| Q4-2024 | $1.35K ▼ | $550.82 ▼ | $795.67 ▼ | $-244 ▲ |
| Q3-2024 | $2.1K | $426.14K | $591K | $-164.86K |
What's financially strong about this company?
No debt at all, and a large base of long-term investments. Shareholder equity is much higher than total liabilities.
What are the financial risks or weaknesses?
Cash is nearly zero, and current assets can't cover short-term bills. The company has a history of losses and may need to raise money soon.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q3-2025 | $785.09K ▼ | $137.91K ▲ | $231.15M ▲ | $-231.3M ▼ | $-105 ▲ | $137.9K ▲ |
| Q2-2025 | $3.69M ▲ | $-300.67K ▼ | $-231.15M | $231.47M ▲ | $-1.27K ▼ | $-300.67K ▼ |
| Q1-2025 | $1.25M ▲ | $-251.24K ▼ | $-231.15M ▼ | $231.4M ▲ | $-428 ▲ | $-251.24K ▼ |
| Q4-2024 | $-279 ▲ | $-106 ▲ | $0 | $-638 ▼ | $-744 ▲ | $-123 ▲ |
| Q3-2024 | $-144.93K | $-57.23K | $0 | $41.23K | $-16K | $-57.23K |
What's strong about this company's cash flow?
The company turned operations around, moving from burning $300,669 last quarter to generating $137,904 in free cash flow. No new debt or equity was needed, showing improved self-sufficiency.
What are the cash flow concerns?
Most of the reported profit isn't turning into cash, and the cash balance is very low at just $717. The improvement in cash flow was helped by stretching payables, which can't last forever.
5-Year Trend Analysis
A comprehensive look at Drugs Made In America Acquisition Corp. Units's financial evolution and strategic trajectory over the past five years.
DMAAU’s main strengths are strategic clarity and leadership. It has a tightly defined focus on strengthening U.S. pharmaceutical supply chains, a theme that resonates with policy and industry concerns. The management and advisory team bring sector experience and networks that could help secure an attractive acquisition. The current financial structure is simple, with no complex long‑term obligations or legacy assets, which should make it straightforward to integrate a future target.
The key risks are financial fragility and execution uncertainty. The existing entity shows no revenue, negative profits, negative free cash flow, and weak liquidity, which means it depends heavily on external funding and the successful completion of its SPAC capital raise and merger. Negative equity and reliance on short‑term debt heighten solvency concerns if timelines slip. On the strategic side, competition for high‑quality healthcare targets is intense, SPACs operate under time pressure, and regulatory or market conditions could complicate or derail a planned transaction.
Looking ahead, DMAAU’s outlook hinges almost entirely on three events: successfully maintaining adequate liquidity, identifying a strong pharmaceutical or healthcare manufacturing target aligned with its “Made in America” strategy, and executing a well‑structured merger. Until those steps occur, its financials will likely continue to show losses and cash burn typical of a pre‑combination SPAC. If and when a suitable target is announced, the analytical focus will need to shift from this shell’s weak standalone metrics to the fundamentals, growth prospects, and competitive position of the acquired operating company.
About Drugs Made In America Acquisition Corp. Units
https://dmaacorp.comDrugs Made In America Acquisition Corp. is a blank check company. It is an exempt company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or other similar business combination with one or more businesses. The company was founded on May 23, 2024 and is headquartered in Fort Lauderdale, FL.
Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q3-2025 | $0 | $263.7K ▲ | $2.18M ▼ | 0% | $0.07 ▲ | $-263.7K ▼ |
| Q2-2025 | $0 | $131.92K ▼ | $2.29M ▲ | 0% | $0.07 ▼ | $-131.92K ▲ |
| Q1-2025 | $0 | $330.93K ▲ | $1.25M ▲ | 0% | $130.51 ▲ | $-330.93K ▼ |
| Q4-2024 | $0 | $279.88 ▼ | $-279 ▲ | 0% | $-0.03 ▼ | $0 ▲ |
| Q3-2024 | $0 | $144.93K | $-144.93K | 0% | $-0.01 | $-144.93K |
What's going well?
The company is earning solid interest income, which is keeping it profitable on paper. The reduction in share count has boosted earnings per share.
What's concerning?
There is no revenue, and operating losses are growing. The only reason for profit is interest income, not actual business operations – this is not sustainable.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q3-2025 | $717 ▼ | $237.63M ▲ | $7.36M ▲ | $230.28M ▲ |
| Q2-2025 | $822 ▼ | $235.21M ▲ | $7.2M ▼ | $228M ▲ |
| Q1-2025 | $923 ▼ | $232.81M ▲ | $7.25M ▲ | $225.56M ▲ |
| Q4-2024 | $1.35K ▼ | $550.82 ▼ | $795.67 ▼ | $-244 ▲ |
| Q3-2024 | $2.1K | $426.14K | $591K | $-164.86K |
What's financially strong about this company?
No debt at all, and a large base of long-term investments. Shareholder equity is much higher than total liabilities.
What are the financial risks or weaknesses?
Cash is nearly zero, and current assets can't cover short-term bills. The company has a history of losses and may need to raise money soon.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q3-2025 | $785.09K ▼ | $137.91K ▲ | $231.15M ▲ | $-231.3M ▼ | $-105 ▲ | $137.9K ▲ |
| Q2-2025 | $3.69M ▲ | $-300.67K ▼ | $-231.15M | $231.47M ▲ | $-1.27K ▼ | $-300.67K ▼ |
| Q1-2025 | $1.25M ▲ | $-251.24K ▼ | $-231.15M ▼ | $231.4M ▲ | $-428 ▲ | $-251.24K ▼ |
| Q4-2024 | $-279 ▲ | $-106 ▲ | $0 | $-638 ▼ | $-744 ▲ | $-123 ▲ |
| Q3-2024 | $-144.93K | $-57.23K | $0 | $41.23K | $-16K | $-57.23K |
What's strong about this company's cash flow?
The company turned operations around, moving from burning $300,669 last quarter to generating $137,904 in free cash flow. No new debt or equity was needed, showing improved self-sufficiency.
What are the cash flow concerns?
Most of the reported profit isn't turning into cash, and the cash balance is very low at just $717. The improvement in cash flow was helped by stretching payables, which can't last forever.
5-Year Trend Analysis
A comprehensive look at Drugs Made In America Acquisition Corp. Units's financial evolution and strategic trajectory over the past five years.
DMAAU’s main strengths are strategic clarity and leadership. It has a tightly defined focus on strengthening U.S. pharmaceutical supply chains, a theme that resonates with policy and industry concerns. The management and advisory team bring sector experience and networks that could help secure an attractive acquisition. The current financial structure is simple, with no complex long‑term obligations or legacy assets, which should make it straightforward to integrate a future target.
The key risks are financial fragility and execution uncertainty. The existing entity shows no revenue, negative profits, negative free cash flow, and weak liquidity, which means it depends heavily on external funding and the successful completion of its SPAC capital raise and merger. Negative equity and reliance on short‑term debt heighten solvency concerns if timelines slip. On the strategic side, competition for high‑quality healthcare targets is intense, SPACs operate under time pressure, and regulatory or market conditions could complicate or derail a planned transaction.
Looking ahead, DMAAU’s outlook hinges almost entirely on three events: successfully maintaining adequate liquidity, identifying a strong pharmaceutical or healthcare manufacturing target aligned with its “Made in America” strategy, and executing a well‑structured merger. Until those steps occur, its financials will likely continue to show losses and cash burn typical of a pre‑combination SPAC. If and when a suitable target is announced, the analytical focus will need to shift from this shell’s weak standalone metrics to the fundamentals, growth prospects, and competitive position of the acquired operating company.

CEO
Lynn Stockwell
Compensation Summary
(Year )
Price Target
Institutional Ownership
KRYGER CAPITAL LTD
Shares:303.81K
Value:$3.18M
WOLVERINE ASSET MANAGEMENT LLC
Shares:130K
Value:$1.36M
RIVERNORTH CAPITAL MANAGEMENT, LLC
Shares:102.37K
Value:$1.07M
Summary
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