Company: GDSTR
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014248
Chunk: 102

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 8
Chunk 102
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 deemed compensation by
FINRA and are therefore subject to a 180-day lock-up pursuant to FINRA Rule 5110(e)(1). Additionally, the option may not be sold, transferred,
assigned, pledged or hypothecated for a one-year period (including the foregoing 180-day period) following the date of Initial Public
Offering except to any underwriter and selected dealer participating in the Initial Public Offering and their bona fide officers or partners.
The option grants to holders demand and “piggy back” rights for periods of five and seven years, respectively, from the effective
date of the registration statement with respect to the registration under the Securities Act of the securities directly and indirectly
issuable upon exercise of the option. The Company will bear all fees and expenses attendant to registering the securities, other than
underwriting commissions which will be paid for by the holders themselves. The exercise price and number of units issuable upon exercise
of the option may be adjusted in certain circumstances including in the event of a stock dividend, or the Company’s recapitalization,
reorganization, merger or consolidation. However, the option will not be adjusted for issuances of common stock at a price below its exercise
price.

19

NOTE 8 — STOCKHOLDERS’ (DEFICIT) EQUITY

Common Stock

The Company is authorized to issue up to 15,000,000
shares of common stock, par value $0.0001 per share. As of December 31, 2024 and March 31, 2024, there were 1,846,250 shares of common
stock issued and outstanding, respectively.

Rights

As of December 31, 2024 and March 31, 2024, there were 5,750,000 Public
Rights and 351,250 Private Rights outstanding.  Except in cases where the Company is not the surviving company in a Business
Combination, each holder of a right will automatically receive one-tenth (1/10) of one share of common stock upon consummation of its
initial Business Combination. In the event the Company will not be the surviving company upon completion of its initial Business Combination,
each holder of a right will be required to affirmatively convert his, her or its rights in order to receive the one-tenth (1/10) of a
share underlying each right upon consummation of the Business Combination. The Company will not issue fractional shares in connection
with an exchange of rights