Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 1321

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 13
Chunk 1321
---
 such liability will not apply to any claims by a third party or prospective target
business who executed a waiver of any and all rights to the monies held in the Trust Account (whether or not such waiver is
enforceable) nor will it apply to any claims under the Company’s indemnity of the underwriters of the Initial Public Offering
against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities
Act”). In the event that an executed waiver is deemed to be unenforceable against a third party, the Sponsor will not be
responsible to the extent of any liability for such third-party claims. The Company will seek to reduce the possibility that the
Sponsor will have to indemnify the Trust Account due to claims of creditors by endeavoring to have vendors, service providers
(except the Company’s independent registered public accounting firm), prospective target businesses or other entities with
which the Company does business, execute agreements with the Company waiving any right, title, interest or claim of any kind in or
to monies held in the Trust Account.

F-8

MOUNTAIN
LAKE ACQUISITION CORP.

NOTES
TO FINANCIAL STATEMENTS

DECEMBER
31, 2024

Liquidity and Capital Resources

 As of December 31, 2024, the Company had $1,383,392 in cash
and a working capital of $1,482,227. Further, the Company has incurred and expects to continue to incur significant costs in pursuit of
its financing and acquisition plans. There is no assurance that the Company’s plans to raise capital will be successful. In connection
with the Company’s assessment of going concern considerations in accordance with Accounting Standards Update (“ASU”)
2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” as of December 31,
2024, the Company has sufficient funds for the working capital needs of the Company until a minimum of one year from the date of issuance
of these financial statements. The Company cannot ensure that its plans to raise capital or to consummate an initial Business Combination
will be successful.

NOTE 2— SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying financial statements
are presented in U.S. dollars and have been prepared in accordance with accounting principles generally accepted in the United States
of America (“U.S. GA