Company: GDSTR
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014248
Chunk: 26

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 1
Chunk 26
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 of income among various tax jurisdictions and compliance with federal and state tax laws. The Company’s management does
not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. Federal tax returns
filed in fiscal years ended March 31, 2022 through 2024 remain subject to examination by any applicable tax authorities.

Net Income (Loss) per Share

 The Company complies with accounting and disclosure
requirements of FASB ASC 260, Earnings Per Share. In order to determine the net income (loss) attributable to both the redeemable shares
and non-redeemable shares, the Company first considered the undistributed income (loss) allocable to both the redeemable Common Stock
and non-redeemable Common Stock and the undistributed income (loss) is calculated using the total net income (loss) less any dividends
paid. The Company then allocated the undistributed income (loss) ratably based on the weighted average number of shares outstanding between
the redeemable and non-redeemable Common Stock. Any remeasurement of the accretion to redemption value of the Common Stock subject to
possible redemption was considered to be dividends paid to the public stockholders. For the three and nine months ended December 31, 2024
and 2023, the Company has not considered the effect of a) the Public and Private Warrants sold in the Initial Public Offering to purchase
an aggregate of 6,101,250 shares, b) the Public and Private Rights that will automatically convert into an aggregate of 610,125 shares
upon consummation of its initial Business Combination, c) the Unit Purchase Option (“UPO”) to purchase up to 270,250 Units,
which include option to purchase 270,250 shares, option to purchase an aggregate of 270,250 shares from the exercise of warrants, and
27,025 shares automatically converted from the 270,250 rights upon consummation of its initial Business Combination, and d) up to 232,500
Private Units upon optional conversion of the Working Capital and Extension Loans, in the calculation of diluted net income (loss) per
share, since the exercise of the Public and Private Warrants, the effect of the Public and Private Rights, the exercise of the UPO, and
the conversion of the Working Capital and Extension Loans are contingent upon the occurrence of future events and the inclusion of these
financial securities would be anti-dilutive. The