Mountain Crest Acquisition 6 Q2 net income rises to $348,644; trust account interest income climbs to $337,576
MCAH•Quarterly results and trust account income
- Mountain Crest Acquisition 6 posted Q2 net income of USD 348,644, driven by USD 337,576 of trust-account interest income.
- Formation, general and administrative costs totaled USD 36,232; a USD 47,300 change in fair value of the overallotment liability also lifted results.
- Since inception through June 30, net income was USD 305,174, reflecting USD 79,702 of formation, general and administrative costs.
- Trust Account marketable securities were USD 60.34 million; cash outside the Trust Account was USD 14,184.
- Management flagged substantial doubt about going concern, citing a USD 412,802 working capital deficit and the 12-month business-combination deadline.
