Company: MLAC
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042737
Chunk: 98

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 98
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 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 that also is reported on the statement of operations as net income. The measure of segment assets
is reported on the 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:

    March 31, 2025 
  
    Cash 
    $1,221,107 
  
    Cash and marketable securities held in Trust Account 
    $233,983,157 

    For the Three Months Ended March 31, 2025 
  
    Operating and formation costs 
    $320,783 
  
    Interest earned on marketable securities held in Trust Account 
    $2,339,304 

The CODM reviews interest earned on marketable securities held in Trust
Account to measure and monitor shareholder value and determine the most effective strategy of investment with the Trust Account funds
while maintaining compliance with the trust agreement. Operating and formation costs are reviewed and monitored by the CODM to manage
and forecast cash to ensure enough capital is available to complete a business combination within the business combination period. The
CODM also reviews operating and formation costs to manage, maintain and enforce all contractual agreements to ensure costs are aligned
with all agreements and budget.

Operating and formation costs, as reported on the statement of operations,
are the significant segment expenses provided to the CODM on a regular basis. All other segment items included in net income are reported
on the statement of operations and described within their respective disclosures.

NOTE 10. SUBSEQUENT EVENTS 

The Company evaluated subsequent events and transactions
that occurred after the balance sheet date up to the date that the condensed financial statements were issued. Based upon this review,
the Company did not identify any subsequent events that would have required adjustment or disclosure in the condensed financial statements.

14 

Item 2. Management’s Discussion and Analysis
of Financial Condition and Results of Operations

References in this report (the “Quarterly
Report”) to “we,” “us” or the “Company” refer to Mountain Lake Acquisition Corp. References
to our “management” or our