Company: MLAC
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042737
Chunk: 76

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 76
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 OF CHANGES IN SHAREHOLDERS’
DEFICIT

FOR THE THREE MONTHS ENDED MARCH 31, 2025

(UNAUDITED)

    Class A Ordinary Shares  
    Class B Ordinary Shares  
    Additional Paid-in  
    Accumulated  
    Total Shareholder’ 

    Shares  
    Amount  
    Shares  
    Amount  
    Capital  
    Deficit  
    Deficit 
  
    Balance — January 1, 2025 
     805,000  
    $81  
     7,187,500  
    $719  
    $—  
    $(6,480,797) 
    $(6,479,997)

    Accretion for Class A ordinary shares to redemption amount 
     —  
     —  
     —  
     —  
     —  
     (2,339,304) 
     (2,339,304)

    Net income 
     —  
     —  
     —  
     —  
     —  
     2,018,521  
     2,018,521 

    Balance — March 31, 2025 (unaudited) 
     805,000  
    $81  
     7,187,500  
    $719  
    $—  
    $(6,801,580) 
    $(6,800,780)

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

3 

MOUNTAIN LAKE ACQUISITION CORP

CONDENSED STATEMENT OF CASH FLOWS

FOR THE THREE MONTHS ENDED MARCH 31, 2025

(UNAUDITED)

    Cash Flows from Operating Activities: 

    Net income 
    $2,018,521 
  
    Adjustments to reconcile net income to net cash used in operating activities: 

    Interest earned on marketable securities held in Trust Account 
     (2,339,304)
  
    Changes in operating assets and liabilities: 

    Prepaid expenses and other current assets 
     9,619 
  
    Long-term prepaid insurance 
     23,125 
  
    Accrued offering costs 
     (6,750)
  
    Accounts payable and accrued