Company: GDSTR
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112608
Chunk: 30

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 1
Chunk 30
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     1,846,250 
  
    Basic and diluted net income (loss) per share 
    $0.18  
    $(0.32) 
    $0.15  
    $(0.21)

15

Related parties

Parties, which can be a corporation or individual,
are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant
influence over the other party in making financial and operational decisions. Companies are also considered to be related if they are
subject to common control or common significant influence.

Recent Accounting Pronouncements

In December 2023, the FASB issued Accounting Standards Update No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax
Disclosures” (“ASU 2023-09”), which modifies the rules on income tax disclosures to require entities to disclose (1)
specific categories in the rate reconciliation, (2) the income or loss from continuing operations before income tax expense or benefit
(separated between domestic and foreign) and (3) income tax expense or benefit from continuing operations (separated by federal, state
and foreign). ASU 2023-09 also requires entities to disclose their income tax payments to international, federal, state and local jurisdictions,
among other changes. The guidance is effective for annual periods beginning after December 15, 2024. Early adoption is permitted for annual
financial statements that have not yet been issued or made available for issuance. ASU 2023-09 should be applied on a prospective basis,
but retrospective application is permitted. The Company adopted this new guidance on April 1, 2025, and it did not have any impact on
the Company’s unaudited condensed consolidated financial statements and related disclosures. The Company will provide the additional
required disclosures in the year ended March 31, 2026 consolidated financial statements. 

Management does not believe that any other recently
issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s unaudited condensed
consolidated financial statements. 

NOTE 3 — CASH AND INVESTMENTS HELD IN TRUST ACCOUNT

As of September 30, 2025 and March 31, 2025, assets
held in the Trust Account were comprised of $5,330,210 and $18,666,931, respectively, in cash and money market funds which are