Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 878

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 7
Chunk 878
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 to complete the initial Business Combination
within the required time period and the Company will redeem the public shares for the funds held in the Trust Account, holders of rights
will not receive any of such funds for their rights and the rights will expire worthless.

NOTE 8 — FAIR VALUE MEASUREMENTS

 At December 31, 2024, assets held in the Trust Account were comprised
of $593 in cash and $231,643,260 in U.S. Treasury securities. During the period from June 14, 2014 (inception) through December 31, 2024,
the Company did not withdraw any interest income from the Trust Account.

            Gross             Amortized   Holding          Held To Maturity  Cost   Loss   Fair Value   December 31, 2024  U.S. Treasury Securities (Mature on June 12, 2025)  $231,643,260   $(128,995)  $231,514,265  

The following table presents information about
the Company’s assets that are measured at fair value as of December 31, 2024, and indicates the 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