Company: MLAC
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001213900-25-073711
Chunk: 4

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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 up to 984,375 shares subject to forfeiture if the over-allotment option was not exercised in full or in part by the underwriters (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

    For the Six Months Ended June 30, 2025 (Unaudited)

    For the period from June 14, 2024 (inception) through June 30, 2024

    Cash Flows from Operating Activities:

    Net income (loss)
     
    $
    4,214,891

    $
    (18,953
    )
  
    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

    —

    10,420

    Interest earned on cash and marketable securities held in Trust Account

    (4,731,246
    )

    —

    Changes in operating assets and liabilities:

    Prepaid expenses and other current assets

    17,259

    —

    Long-term prepaid insurance

    46,250

    —

    Due to Sponsor

    (2,495
    )

    —

    Accrued offering costs

    (6,750
    )

    —

    Accounts payable and accrued expenses

    239,582

    —

    Net cash used in operating activities

    (222,509
    )

    —

    Net Change in Cash

    (222,509
    )

    —

    Cash – Beginning of period

    1,383,392

    —

    Cash – End of period
     
    $
    1,160,883

    $
    —

    Non-cash financing activities:

    Deferred offering costs included in accrued offering costs
     
    $
    —

    $
    111,431

    Deferred offering costs paid through prepaid expenses
     
    $
    —

    $
    16,467

    Prepaid expenses paid by Sponsor for issuance of Class B ordinary shares
     
    $
    —

    $
    25,000

    Deferred offering costs paid through promissory note – related party
     
    $
    —

    $