Company: MLAC
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108244
Chunk: 5

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 5
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 of the closing of the Initial Public Offering and forfeited their option to exercise
the remaining over-allotment option. As such, 359,375 Founder Shares were forfeited (Note 5). 

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

 3

MOUNTAIN LAKE ACQUISITION CORP.

CONDENSED STATEMENTS OF CASH FLOWS

(UNAUDITED)

    For the Nine
    Months Ended September 30,  2025  
    For the
 Period from 
June 14, 
2024 
(inception) 
through 
September 30,
 2024 
  
    Cash Flows from Operating Activities: 

    Net income (loss) 
    $6,348,172  
    $(44,758)
  
    Adjustments to reconcile net income (loss) to net cash used in operating activities: 

    Formation costs paid by Sponsor in exchange for issuance of Class B ordinary shares 
     —  
     8,533 
  
    Payment of operation costs through promissory note 
     —  
     36,408 
  
    Interest earned on cash and marketable securities held in Trust Account 
     (7,258,722) 
     — 
  
    Changes in operating assets and liabilities: 

    Prepaid expenses and other current assets 
     21,599  
     (183)
  
    Long-term prepaid insurance 
     69,375  
     — 
  
    Due to Sponsor 
     (2,495) 
     — 
  
    Accrued offering costs 
     (6,750) 
     — 
  
    Accounts payable and accrued expenses 
     291,259  
     — 
  
    Net cash used in operating activities 
     (537,562) 
     — 

    Net Change in Cash 
     (537,562) 
     — 
  
    Cash – Beginning of period 
     1,383,392  
     — 
  
    Cash – End of period 
    $845,830  
    $— 

    Non-cash financing activities: 

    Deferred offering costs included in accrued offering costs 
    $—  
    $111,431 
  
    Deferred offering costs paid through prepaid expenses 
    $—  
    $16,467