MCAG · Mountain Crest Acquisition Corp. V
Substantial doubt about the company's ability to continue as a going concern.
“Management has determined that the liquidity condition and mandatory liquidation, should a Business Combination not occur, and potential subsequent dissolution, raise substantial doubt about the Company's ability to continue as a going concern.”View the 10-Q filed Aug 14, 2026
Trades by corporate insiders — officers, directors and holders of more than 10% of the shares — disclosed to the SEC on Forms 4 and 5. Form 3 supplies initial ownership rather than a trade; Form 4 must be filed within two business days of the trade.
| Date | Insider | Role | Type | Security | Shares |
|---|---|---|---|---|---|
| 2025-12-30 | Liu Suying |
Director, CEO and CFO, 10% Owner |
Sell↓
Filing footnotes — Common Stock (Indirect)
The purchase price for the shares has been received, however, the shares will only be transferred to purchaser upon the consummation of the issuer's initial business combination. Shares owned by Mountain Crest Global Holdings LLC, over which Suying Liu owns sole voting and dispositive power. |
Common Stock
(I)
|
200,000 |
| 2025-12-30 | Mountain Crest Global Holdings LLC |
10% Owner |
Sell↓
Filing footnotes — Common Stock (Direct)
The purchase price for the shares has been received, however, the shares will only be transferred to purchaser upon the consummation of the issuer's initial business combination. |
Common Stock
|
200,000 |
| 2025-02-17 | Mountain Crest Global Holdings LLC |
10% Owner |
Sell↓
Filing footnotes — Common Stock (Direct)
The purchase price for the shares has been received, however, the shares will only be transferred to purchaser upon the consummation of the issuer's initial business combination. |
Common Stock
|
100,000 |
| 2025-02-17 | Liu Suying |
Director, CEO and CFO, 10% Owner |
Sell↓
Filing footnotes — Common Stock (Indirect)
The purchase price for the shares has been received, however, the shares will only be transferred to purchaser upon the consummation of the issuer's initial business combination. Shares owned by Mountain Crest Global Holdings LLC, over which Suying Liu owns sole voting and dispositive power. |
Common Stock
(I)
|
100,000 |
| 2024-07-08 | Liu Suying |
Director, CEO and CFO, 10% Owner |
Other↑
Filing footnotes — Common Stock (Indirect)
The shares of common stock are held by Mountain Crest Global Holdings LLC. On July 08, 2024, Dr. Suying Liu became the managing member of Mountain Crest Global Holdings LLC and therefore has sole voting and dispositive control over the shares of common stock held by Mountain Crest Global Holdings LLC. On July 08, 2024, Dr. Suying Liu became the managing member of Mountain Crest Global Holdings LLC and therefore has sole voting and dispositive control over the shares of common stock held by Mountain Crest Global Holdings LLC. |
Common Stock
(I)
|
2,165,800 |
| 2024-07-08 | Liu Dong |
10% Owner |
Other↓
Filing footnotes — Rights to purchase Common Stock (Indirect)
The rights automatically convert into one-tenth (1/10) of a share of common stock upon the consummation of the issuer's initial business combination, as described in the issuer's prospectus filed with the SEC. The rights are held by Mountain Crest Global Holdings LLC. On July 08, 2024, Mr. Dong Liu ceased to be the manager of Mountain Crest Global Holdings LLC and therefore no longer has any voting or dispositive control over the rights held by Mountain Crest Global Holdings LLC. |
Rights to purchase Common Stock
(I)
|
223,000 |
| 2024-07-08 | Liu Suying |
Director, CEO and CFO, 10% Owner |
Other↑
Filing footnotes — Rights to purchase Common Stock (Indirect)
The rights automatically convert into one-tenth (1/10) of a share of common stock upon the consummation of the issuer's initial business combination, as described in the issuer's prospectus filed with the SEC. The rights are held by Mountain Crest Global Holdings LLC. On July 08, 2024, Dr. Suying Liu became the managing member of Mountain Crest Global Holdings LLC and therefore entitles voting or dispositive control over the rights held by Mountain Crest Global Holdings LLC. |
Rights to purchase Common Stock
(I)
|
223,000 |
| 2024-07-08 | Liu Dong |
10% Owner |
Other↓
Filing footnotes — Common Stock (Indirect)
The shares of common stock are held by Mountain Crest Global Holdings LLC. On July 08, 2024, Mr. Dong Liu ceased to be the manager of Mountain Crest Global Holdings LLC and therefore no longer has any voting or dispositive control over the shares of common stock held by Mountain Crest Global Holdings LLC. On July 08, 2024, Mr. Dong Liu ceased to be the manager of Mountain Crest Global Holdings LLC and therefore no longer has any voting or dispositive control over the shares of common stock held by Mountain Crest Global Holdings LLC. |
Common Stock
(I)
|
2,165,800 |
| 2024-04-20 | Mountain Crest Global Holdings LLC |
10% Owner |
Other↑
Filing footnotes — Common Stock (Direct)
On October 30, 2023, Mountain Crest Acquisition Corp. V (the "Company") issued a non-interest bearing, unsecured promissory note in the aggregate principal amount of upto $400,000 to the Reporting Person. On April 3, 2024, the Company issued a non-interest bearing, unsecured promissory note in the aggregate principal amount of upto $300,000 to the Reporting Person. As of April 15, 2024, the principal amount outstanding under the notes is $600,000. On April 19, 2024, as approved by the Company's audit committee, the Company entered into a note conversion agreement (the "Note Conversion Agreement") with the Reporting Person, to convert the principal amount of the Note into 150,000 shares of the Company's Common Stock at $4:00 per share. On April 20, 2024, the Company issued 150,000 shares to the Reporting Person in satisfaction of the notes. The Shares are owned by Mountain Crest Global Holdings LLC, and Dong Liu, the sole manager of Mountain Crest Global Holdings LLC, has sole voting and dispositive power over the shares owned by Mountain Crest Global Holdings LLC. |
Common Stock
|
150,000 |
| 2023-09-18 | Mountain Crest Global Holdings LLC |
10% Owner |
Other↑
Filing footnotes — Common Stock (Direct)
On February 15, 2023, Mountain Crest Acquisition Corp. V (the "Company") issued a non-interest bearing, unsecured promissory note in the aggregate principal amount of $300,000 (the "Note") to the Reporting Person. On September 13, 2023, as approved by the Company's audit committee, the Company entered into a note conversion agreement (the "Note Conversion Agreement") with the Reporting Person, to convert the principal amount of the Note into 75,000 shares of the Company's Common Stock at $4:00 per share. On September 18, 2023, the Company issued 75,000 shares to the Reporting Person in satisfaction of the Note. The Shares are owned by Mountain Crest Global Holdings LLC, and Dong Liu, the sole manager of Mountain Crest Global Holdings LLC, has sole voting and dispositive power over the shares owned by Mountain Crest Global Holdings LLC. |
Common Stock
|
75,000 |
| 2023-06-08 | Mountain Crest Global Holdings LLC |
10% Owner |
Other↑
Filing footnotes — Common Stock (Direct)
On October 20, 2022, the Reporting Person filed a Form 4 reporting an October 19, 2022 transaction whereby the Reporting Person sold, pursuant to a stock purchase agreement, dated October 19, 2023 (the "SPA"), 100,000 shares of common stock of the Issuer (the "Shares") in exchange for $1,000,000 in connection with a business combination agreement, dated October 19, 2022 (the "BCA"). The SPA provided that the Reporting Person's obligation to transfer the Shares to the purchaser (the "Purchaser") shall be terminated if the BCA is terminated for any reason other than as a material breach of the Issuer. On June 14, 2023, the Reporting Person learned that the Purchaser terminated the BCA not as a result of a material breach of the Issuer, and therefore the Reporting Person's obligation to transfer the Shares to the Purchaser is terminated. Shares owned by Mountain Crest Global Holdings LLC, over which Dong Liu owns sole voting and dispositive power. |
Common Stock
|
100,000 |
| 2023-03-28 | Liu Suying |
Director, CEO and CFO, 10% Owner |
Other↓
Filing footnotes — Common Stock (Indirect)
The shares of common stock are held by Mountain Crest Global Holdings LLC. On March 28, 2023, Dr. Suying Liu ceased to be the managing member of Mountain Crest Global Holdings LLC and therefore no longer has any voting or dispositive control over the shares of common stock held by Mountain Crest Global Holdings LLC. On March 28, 2023, Dr. Suying Liu ceased to be the managing member of Mountain Crest Global Holdings LLC and therefore no longer has any voting or dispositive control over the shares of common stock held by Mountain Crest Global Holdings LLC. |
Common Stock
(I)
|
1,840,800 |
| 2023-03-28 | Liu Suying |
Director, CEO and CFO, 10% Owner |
Other↓
Filing footnotes — Rights to purchase Common Stock (Indirect)
The rights automatically convert into one-tenth (1/10) of a share of common stock upon the consummation of the issuer's initial business combination, as described in the issuer's prospectus filed with the SEC. The rights are held by Mountain Crest Global Holdings LLC. On March 28, 2023, Dr. Suying Liu ceased to be the managing member of Mountain Crest Global Holdings LLC and therefore no longer has any voting or dispositive control over the rights held by Mountain Crest Global Holdings LLC. |
Rights to purchase Common Stock
(I)
|
223,000 |
| 2022-10-19 | Mountain Crest Global Holdings LLC |
10% Owner |
Sell↓
Filing footnotes — Common Stock (Direct)
The purchase price for the shares has been received, however, the shares will only be transferred to purchaser upon the consummation of the issuer's initial business combination. |
Common Stock
|
100,000 |
| 2022-10-19 | Liu Suying |
Director, CEO and CFO, 10% Owner |
Sell↓
Filing footnotes — Common Stock (Indirect)
The purchase price for the shares has been received, however, the shares will only be transferred to purchaser upon the consummation of the issuer's initial business combination. Shares owned by Mountain Crest Global Holdings LLC, over which Suying Liu owns sole voting and dispositive power. |
Common Stock
(I)
|
100,000 |
| 2021-11-18 | Liu Suying |
Director, CEO and CFO, 10% Owner |
Buy↑
Filing footnotes — Rights to purchase Common Stock (Indirect)
The reporting person acquired units, consisting of shares and rights. The rights automatically convert into one-tenth (1/10) of a share of common stock upon the consummation of the registrant's initial business combination, as described in the registrant's prospectus filed with the SEC. Rights underlying the units owned by Mountain Crest Global Holdings LLC, over which Suying Liu owns sole voting and dispositive power. |
Rights to purchase Common Stock
(I)
|
18,000 |
| 2021-11-18 | Mountain Crest Global Holdings LLC |
10% Owner |
Buy↑
Filing footnotes — Common Stock (Direct)
The reporting person acquired units, consisting of shares and rights. |
Common Stock
|
18,000 |
| 2021-11-18 | Liu Suying |
Director, CEO and CFO, 10% Owner |
Buy↑
Filing footnotes — Common Stock (Indirect)
The reporting person acquired units, consisting of shares and rights. Shares owned by Mountain Crest Global Holdings LLC, over which Suying Liu owns sole voting and dispositive power. |
Common Stock
(I)
|
18,000 |
| 2021-11-18 | Mountain Crest Global Holdings LLC |
10% Owner |
Buy↑
Filing footnotes — Rights to purchase Common Stock (Direct)
The reporting person acquired units, consisting of shares and rights. The rights automatically convert into one-tenth (1/10) of a share of common stock upon the consummation of the registrant's initial business combination, as described in the registrant's prospectus filed with the SEC. |
Rights to purchase Common Stock
|
18,000 |
| 2021-11-16 | Mountain Crest Global Holdings LLC |
10% Owner |
Buy↑
Filing footnotes — Common Stock (Direct)
The reporting person acquired units, consisting of shares and rights. |
Common Stock
|
205,000 |
| 2021-11-16 | Mountain Crest Global Holdings LLC |
10% Owner |
Buy↑
Filing footnotes — Rights to purchase Common Stock (Direct)
The reporting person acquired units, consisting of shares and rights. The rights automatically convert into one-tenth (1/10) of a share of common stock upon the consummation of the registrant's initial business combination, as described in the registrant's prospectus filed with the SEC. |
Rights to purchase Common Stock
|
205,000 |
| 2021-11-16 | Liu Suying |
Director, CEO and CFO, 10% Owner |
Buy↑
Filing footnotes — Common Stock (Indirect)
The reporting person acquired units, consisting of shares and rights. Shares owned by Mountain Crest Global Holdings LLC, over which Suying Liu owns sole voting and dispositive power. |
Common Stock
(I)
|
205,000 |
| 2021-11-16 | Liu Suying |
Director, CEO and CFO, 10% Owner |
Buy↑
Filing footnotes — Rights to purchase Common Stock (Indirect)
The reporting person acquired units, consisting of shares and rights. The rights automatically convert into one-tenth (1/10) of a share of common stock upon the consummation of the registrant's initial business combination, as described in the registrant's prospectus filed with the SEC. Rights underlying the units owned by Mountain Crest Global Holdings LLC, over which Suying Liu owns sole voting and dispositive power. |
Rights to purchase Common Stock
(I)
|
205,000 |