Company: MLAC
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001213900-25-073711
Chunk: 82

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 2
Chunk 82
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 whether as a result of new information,
future events or otherwise.

Overview

We are a blank check company incorporated in
the Cayman Islands on June 14, 2024 formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase,
reorganization or similar business combination with one or more businesses that the Company has not yet identified (“Business Combination”).
We intend to effectuate our Business Combination using cash derived from the proceeds of our initial public offering and the sale of
the Private Placement Unit, our shares, debt or a combination of cash, shares and debt.

We expect to continue to incur significant costs
in the pursuit of our acquisition plans. We cannot assure you that our plans to complete a Business Combination will be successful.

Results of Operations

We have neither engaged in any operations nor
generated any revenues to date. Our only activities from June 14, 2024 (inception) through June 30, 2025 were organizational activities,
those necessary to prepare for our initial public offering, described below, and identifying a target company for a Business Combination.
We do not expect to generate any operating revenues until after the completion of our Business Combination. We generate non-operating
income in the form of interest income on marketable securities held in the Trust Account. We incur expenses as a result of being a public
company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.

For the three months ended June 30, 2025, we
had a net income of $2,196,370, which consists of interest income on marketable securities held in the Trust Account of $2,391,942, partially
offset by operating costs of $195,572.

For the six months ended June 30, 2025, we had
a net income of $4,214,891, which consists of interest income on marketable securities held in the Trust Account of $4,731,246, partially
offset by operating costs of $516,355.

For the period from June 14, 2024 (inception)
through June 30, 2024, we had a net loss of $18,953 which primarily consist of operating and formation costs.

Liquidity and Capital Resources

On December 16, 2024, we consummated the Initial
Public Offering of 23,000,000 Units, which includes the partial exercise by the underwriters of their over-allotment option in