Company: MLAC
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042737
Chunk: 89

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 89
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    Allocation of net income 
    $1,550,404  
    $468,117 
  
    Denominator: 

    Weighted-average shares outstanding 
     23,805,000  
     7,187,500 
  
    Basic and diluted net income per common stock 
    $0.07  
    $0.07 

9 

MOUNTAIN LAKE ACQUISITION
CORP.

NOTES TO CONDENSED FINANCIAL
STATEMENTS

MARCH 31, 2025

(Unaudited)

Concentration of Credit Risk

Financial instruments that potentially subject
the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal
Deposit Insurance Corporation coverage limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant
adverse impact on the Company’s financial condition, results of operations, and cash flows.

Share Rights

The Company accounts for the Public and Private
Placement Rights issued in connection with the Initial Public Offering and the private placement in accordance with the guidance contained
in FASB ASC Topic 815, “Derivatives and Hedging”. Accordingly, the Company evaluated and classified the rights under equity
treatment at their assigned values.

Recently Issued Accounting Standards

In November 2023, the FASB issued ASU 2023-07, “Segment
Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” The amendments in this ASU require disclosures,
on an annual and interim basis, of significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”),
as well as the aggregate amount of other segment items included in the reported measure of segment profit or loss. The ASU requires
that a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment
profit or loss in assessing segment performance and deciding how to allocate resources. Public entities will be required to provide all
annual disclosures currently required by Topic 280 in interim periods, and entities with a single reportable segment are required
to provide all the disclosures required by the amendments in this ASU and existing segment disclosures in Topic 280. This ASU is
effective for fiscal years beginning after December 15, 2023, and interim periods within