Company: GDSTR
Filing Date: 2025-08-20
Form Type: 10-Q
Source: 0001213900-25-078650
Chunk: 119

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-08-20
Form: 10-Q
Item: Item 8
Chunk 119
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 two of $50,000 in the Trust
Account, to initially extend the date by which the Company can complete an initial business combination by two months to August 21,
2025. Because the redeeming stockholders submitted their notices of redemption, and approval of the extension occurred prior to July
1. 2025, the redemption amount is included in the accompanying condensed consolidated balance sheet as of June 30, 2025 as a
liability, and the related shares are not included in the number of outstanding shares of common stock subject to possible
redemption as of June 30, 2025.

Results of Operations

Our entire activity since inception up to June 30, 2025 has been limited
to organizational activities as well as activities related to the IPO and to consummate a Business Combination. We will not generate any
operating revenues until the closing and completion of our initial business combination, at the earliest. On June 26, 2024, the Company
entered into a Business Combination Agreement as discussed above. The Company filed its initial Form S-4 Registrant Statement on January
30, 2025 and filed four amendments to the Form S-4 on April 24, 2025, May 14, 2025, June 20, 2025, July 18, 2025, and August 5, 2025,
however, there is no assurance that the Registration Statement will be declared effective or that the Business Combination will be completed.

For the three months ended June 30, 2025, we incurred a net loss of
$235,827, which consisted of formation and operating costs of $379,823, franchise tax expense of $12,600, and income taxes provision of
$38,277, partially offset by interest income on the Trust Account of $194,873. 

For the three months ended June 30, 2024, we generated a net income
of $22,595, which consisted of interest income on the Trust Account   of $693,260, partially offset   by formation
and operating costs of $515,363, franchise tax expense of $12,300 and income taxes provision of $143,002. 

Liquidity and Going Concern

As of June 30, 2025, we had $4,224 in cash in our operating account
as compared to cash of $14,692 at March 31, 2025 and working   capital deficit of