Company: MLAC
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108244
Chunk: 27

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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(Matured on June 12, 2025)  $231,643,260   $(128,995)  $231,514,265  

 13

MOUNTAIN LAKE ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

(Unaudited)

NOTE 9 — SEGMENT INFORMATION 

ASC Topic 280, “Segment Reporting,”
establishes standards for companies to report in their financial statement information about operating segments, products, services,
geographic areas, and major customers. Operating segments are defined as components of an enterprise for which separate financial
information is available that is regularly evaluated by the Company’s chief operating officer decision maker (“CODM”),
or group, in deciding how to allocate resources and assess performance.

The Company’s CODM has been identified
as the Chief Executive Officer, who reviews the operating results for the Company as a whole to make decisions about allocating resources
and assessing financial performance. Accordingly, management has determined that the Company only has one reportable segment.

The CODM assesses performance for the single segment
and decides how to allocate resources based on net income (loss) that also is reported on the condensed statements of operations as net
income (loss). The measure of segment assets is reported on the condensed balance sheets as total assets. When evaluating the Company’s
performance and making key decisions regarding resource allocation the CODM reviews several key metrics, which include the following:

    September 30,  
    December 31, 

    2025  
    2024 
  
    Cash 
    $845,830  
    $1,383,392 
  
    Cash and marketable securities held in Trust Account 
    $238,902,575  
    $231,643,853 

    For the 
Three Months
 Ended September 30,  
    For the
 Nine Months
 Ended
 September 30,  
    For the
 Period from 
June 14, 
2024 (inception) 
through 
September 30, 

    2025  
    2024  
    2025  
    2024 
  
    General and administrative expenses 
    $394,195  
    $25,805  
    $910,550  
    $44,758
  
    Interest earned on cash and marketable securities held in Trust