Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 347

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1A
Chunk 347
---
 CORP.

STATEMENT OF CASH FLOWS

FOR THE PERIOD FROM JUNE 14, 2024 (INCEPTION)
THROUGH DECEMBER 31, 2024

    Cash Flows from Operating Activities: 

    Net income 
    $443,117 
  
    Adjustments to reconcile net income to net cash used in operating activities: 
     ​ 
  
    Formation costs paid by Sponsor in exchange for issuance of Class B ordinary shares 
     8,533 
  
    Payment of operation costs through promissory note 
     70,488 
  
    Interest earned on marketable securities held in Trust Account 
     (493,853)
  
    Changes in operating assets and liabilities: 

    Prepaid expenses 
     (18,440)
  
    Long-term prepaid insurance 
     (87,776)
  
    Prepaid insurance 
     (92,500)
  
    Accounts payable and accrued expenses 
     7,401 
  
    Due to Sponsor 
     3,183 
  
    Net cash used in operating activities 
     (159,847)

    Cash Flows from Investing Activities: 

    Investment of cash in Trust Account 
     (231,150,000)
  
    Net cash used in investing activities 
     (231,150,000)

    Cash Flows from Financing Activities: 

    Proceeds from sale of Units, net of underwriting discounts paid 
     225,400,000 
  
    Proceeds from sale of Private Placement Units 
     8,050,000 
  
    Repayment of promissory note - related party 
     (249,828)
  
    Payment of offering costs 
     (506,933)
  
    Net cash provided by financing activities 
     232,693,239 

    Net Change in Cash 
     1,383,392 
  
    Cash - Beginning of period 
     — 
  
    Cash - End of period 
    $1,383,392 

    Non-Cash Investing and Financing Activities: 

    Offering costs included in accrued offering costs 
    $6,750 
  
    Prepaid services paid by Sponsor in exchange for issuance of Class B ordinary shares 
    $25,000 
  
    Offering costs paid through promissory note – related party 
    $174,111 
  
    Prepaid services contributed by Sponsor through promiss