Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 498

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1C
Chunk 498
---
 fair value hierarchy of the valuation
inputs the Company utilized to determine such fair value:

    Level 
    December 31, 2024 
  
    Assets: 

    U.S. Treasury Securities 
    1 
    $231,643,853 

F-15

MOUNTAIN
LAKE ACQUISITION CORP.

NOTES
TO FINANCIAL STATEMENTS

DECEMBER
31, 2024

NOTE 9 — SEGMENT INFORMATION 

 ASC Topic 280, “Segment Reporting,” establishes standards
for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major
customers. Operating segments are defined as components of an enterprise for which separate financial information is available that
is regularly evaluated by the Company’s CODM, or group, in deciding how to allocate resources and assess performance.

 The Company’s CODM has been identified as the Chief Executive
Officer, who reviews the operating results for the Company as a whole to make decisions about allocating resources and assessing financial
performance. Accordingly, management has determined that the Company only has one operating segment.

When evaluating the Company’s performance and making key decisions
regarding resource allocation the CODM reviews several key metrics, which include the following:

    For the Period from June 14, 2024 (Inception) Through December 31, 2024 
  
    Formation and operational costs 
    $50,736 
  
    Interest earned on marketable securities held in Trust Account 
    $493,853 

 The key measures of segment profit or loss reviewed by the CODM are
interest earned on marketable securities held in Trust Account and formation and operational costs. The CODM reviews interest earned on
marketable securities held in Trust Account to measure and monitor shareholders value and determine the most effective strategy of investment
with the Trust Account funds while maintaining compliance with the trust agreement. Formation and operational costs are reviewed and monitored
by the CODM to manage and forecast cash to ensure enough capital is available to complete a business combination within the business combination
period. The CODM also reviews formation and operational costs to manage, maintain and enforce all contractual agreements to ensure costs
are aligned with all agreements and budget.

NOTE 10 — SUBSEQUENT EVENTS

The Company evaluated subsequent events
and transactions that occurred after the balance sheet date up to the date that the financial statements were issued. Based upon this
review, the Company did not identify