Company: MLAC
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001213900-25-073711
Chunk: 49

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 49
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 2014-15, “Disclosures of Uncertainties
about an Entity’s Ability to Continue as a Going Concern,” codified in FASB ASC Topic 205-40, “Presentation of Financial
Statements—Going Concern”, as of June 30, 2025, 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 condensed financial statements. The Company cannot ensure that its plans
to raise capital or to consummate an initial Business Combination will be successful. In addition, Management has determined that if
the Company is unable to complete an initial Business Combination within the Combination Period, then the Company will cease all operations
except for the purpose of liquidating. This condition raises substantial doubt about the Company’s ability to continue as a going
concern. Management plans to consummate an initial Business Combination prior to the mandatory liquidation date. No adjustments have
been made to the carrying amounts of assets or liabilities should the Company be required to liquidate after June 16, 2026.

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES

Basis of Presentation

The accompanying unaudited condensed financial
statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”)
for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X of the U.S. Securities
and Exchange Commission (“SEC”). Certain information or footnote disclosures normally included in financial statements prepared
in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting.
Accordingly, they do not include all the information and footnotes necessary for a complete presentation of financial position, results
of operations, or cash flows. In the opinion of management, the accompanying unaudited condensed financial statements include all adjustments,
consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and
cash flows for the periods presented.

The accompanying unaudited condensed financial
statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the period ended December 31, 2024,
as filed with the SEC on March 19, 2025. The interim results for the three and six months ended June 30, 2025 and for the period from
June 14, 2024 (inception) through June