Company: MLAC
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108244
Chunk: 18

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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2024. Accretion associated with the redeemable Class A ordinary shares
is excluded from earnings per ordinary share as the redemption value approximates fair value.

 9

MOUNTAIN LAKE ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

(Unaudited)

The following table presents a reconciliation of the numerator and
denominator used to compute basic and diluted net income (loss) ordinary share for each class of ordinary shares:

    For the Three Months Ended September 30,  
    For the Nine Months Ended  September 30,  
    For the Period from June 14, 2024  (inception) through  September 30, 

    2025  
    2024  
    2025  
    2024 

    Class A
 Ordinary Shares  
    Class B
 Ordinary Shares  
    Class A
 Ordinary Shares  
    Class B
 Ordinary Shares  
    Class A
 Ordinary Shares  
    Class B
 Ordinary Shares  
    Class A
 Ordinary Shares  
    Class B
 Ordinary Shares 
  
    Basic and diluted net income (loss) per share: 

    Numerator: 

    Allocation of net income (loss) 
    $1,638,550  
    $494,731  
    $      —  
    $(25,805) 
    $4,875,961  
    $1,472,211  
    $    —  
    $(44,758)
  
    Denominator: 

    Weighted-average shares outstanding 
     23,805,000  
     7,187,500  
     —  
     6,250,000  
     23,805,000  
     7,187,500  
     —  
     6,250,000 
  
    Basic and diluted net income (loss) per common stock 
    $0.07  
    $0.07  
    $—  
    $(0.00) 
    $0.20  
    $0.20  
    $—  
    $(0.01)

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,