Company: GDSTR
Filing Date: 2025-08-20
Form Type: 10-Q
Source: 0001213900-25-078650
Chunk: 121

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-08-20
Form: 10-Q
Item: Item 8
Chunk 121
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,000 and the source of the funds was from
extension loans made by the Sponsor to cover extension deposits.  

For the three months ended
June 30, 2025, cash provided by financing activities was $325,000, primarily from proceeds of working capital and extension loans from
our Sponsor.

For the three months ended June 30, 2024, there was $37,834,345 of
cash used in financing activities resulting from the redemption of common stock of $38,044,345 and repayments of working capital loans
from our Sponsor amounting to $100,000, partially offset   by the proceeds from working capital and extension loans from our
Sponsor amounting to $310,000.

In addition, in order to
finance transaction costs in connection with searching for a target business or consummating an intended initial business combination,
the initial stockholders, officers, directors or their affiliates may, but are not obligated to, loan us funds as may be required. In
the event that the initial business combination does not close, we may use a portion of the working capital held outside the Trust Account
to repay such loaned amounts, but no proceeds from our Trust Account would be used for such repayment. Such loans would be evidenced by
promissory notes. The notes would either be paid upon consummation of our initial business combination, without interest, or, at the lender’s
discretion, up to $600,000 of the notes may be converted upon consummation of our business combination into private units at a price of
$10.00 per unit.

We
had until 12 months from the closing of the Initial Public Offering to consummate an initial Business Combination. However, if we
anticipate that we   may not be able to consummate our initial Business Combination within 12 months, we may extend the
period of time to consummate a Business Combination up to three times, each by an additional three months (for a total of up to 21
months to complete a Business Combination). Pursuant to the terms of our amended and restated certificate of incorporation and the
trust agreement to be entered into between us and the trustee, in order to extend the time available for us to consummate our
initial Business Combination, our sponsor or its affiliates or designees, upon ten days advance notice prior to the applicable
deadline, must deposit into the Trust Account $575,000 ($0.10 per share) on or prior to the