Mountain Crest Acquisition Corp. V Reports Q2 2026 Financial Results with Net Income of $5,178

Mountain Crest Acquisition Corp. V has reported its financial results for the second quarter of 2026, revealing a net income of $5,178 for the three months ended June 30, 2026, a significant improvement compared to a net loss of $110,574 for the same period in 2025. The company’s revenue primarily consists of interest income from investments held in its Trust Account, which totaled $7,506 for the quarter, down from $12,192 in the prior year. For the six months ending June 30, 2026, the company recorded a net loss of $108,797, a reduction from a loss of $291,952 in the same period of 2025. This improvement is attributed to a gain on extinguishment of liabilities amounting to $100,000, which was not present in the previous year.

The company’s total assets increased to $889,852 as of June 30, 2026, compared to $873,566 at the end of 2025. This growth was driven by an increase in cash and investments held in the Trust Account, which rose to $855,537 from $840,639. However, total liabilities also increased to $3,847,545, up from $3,722,462, primarily due to an increase in accounts payable and accrued expenses. The company’s stockholders’ deficit widened to $(3,800,349) from $(3,684,374) as of December 31, 2025, reflecting ongoing operational costs and the impact of redemptions.

In terms of operational developments, Mountain Crest Acquisition Corp. V has not yet completed a business combination, which remains its primary objective. The company has been actively seeking a target business, focusing on private companies in North America and the Asia Pacific regions. As of June 30, 2026, the company had cash of $18,299 available for working capital, and it has relied on loans from its Sponsor to cover operational expenses. The company has issued several promissory notes to its Sponsor, with amounts outstanding as of June 30, 2026, including $300,000 under the April 2024 Note and $500,000 under the August 2024 Note.

Looking ahead, the company has until November 16, 2026, to consummate a business combination, with the possibility of extending this period by depositing $0.10 per outstanding public share for each three-month extension. The company has expressed uncertainty about its ability to complete a business combination by the deadline, which raises concerns about its ability to continue as a going concern. The management has indicated that it intends to complete a business combination before the mandatory liquidation date, but there are no assurances that this will be achieved. The company’s future performance will depend significantly on its ability to identify and successfully merge with a suitable target business.