Company: MLAC
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108244
Chunk: 24

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 24
---
, any resulting sanctions
could adversely affect the global economy and financial markets and lead to instability and lack of liquidity in capital markets.

On July 4, 2025, the One Big Beautiful Bill Act
(the “OBBBA”) was enacted into law in the United States. The significant provisions of OBBBA include the permanent extension
and modification of certain provisions of the Tax Cuts and Jobs Act which was enacted in 2017, including international tax provisions
and the restoration of favorable tax treatment for certain business provisions. The legislation has multiple effective dates, with certain
provisions effective in 2025 and others implemented in later years. The Company is evaluating the provisions of OBBBA, but it is not expected
to have a material impact on the Company’s condensed financial statements. 

Any of the above mentioned factors, or any other
negative impact on the global economy, capital markets or other geopolitical conditions resulting from the Russian invasion of Ukraine,
the escalation of the Israel-Hamas conflict, enactment of OBBBA and subsequent sanctions or related actions, could adversely affect the
Company’s search for an initial Business Combination and any target business with which the Company may ultimately consummate an
initial Business Combination.

NOTE 7 — SHAREHOLDERS’
DEFICIT

Preference Shares — The
Company is authorized to issue 5,000,000 preference shares with a par value of $0.0001 per share. As of September 30, 2025 and December
31, 2024, there were no preference shares issued or outstanding.

Class A Ordinary Shares — The
Company is authorized to issue 445,000,000 Class A ordinary shares with a par value of $0.0001 per share. Holders of the Company’s
Class A ordinary shares are entitled to one vote for each share. At September 30, 2025 and December 31, 2024, there were 805,000
Class A ordinary shares issued or outstanding, excluding 23,000,000 Class A ordinary shares subject to possible redemption.

 12

MOUNTAIN LAKE ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

(Unaudited)

Class B Ordinary Shares — The
Company is authorized to issue 50,000,000 Class B ordinary shares with a par value of $0.0001 per share