Company: GDSTR
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014248
Chunk: 114

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 8
Chunk 114
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 such as franchise taxes,
but not including any excise tax, since that date. On June 18, 2024, the Company filed a second amendment to its Amended and Restated
Certificate of Incorporation with the Delaware Secretary of State (the “Charter Amendment”), to extend the date to consummate
a business combination until June 21, 2025, as approved by the Company’s stockholders at the Annual Meeting. Pursuant to the Fourth
Extension, the Company has deposited a total of eight of $50,000 in the Trust Account, to initially extend the date by which the Company
can complete an initial business combination by eight months to February 21, 2025

In connection with the votes to approve the Company’s
Amended and Restated Certificate of Incorporation, 3,395,590 shares of Common Stock of the Company were tendered for redemption
for an aggregate payment of approximately $38.0 million in June 2024.

Results of Operations

Our entire activity since inception up to December 31, 2024 was in
connection with our search for a target for our initial 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, 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 December 31, 2024,
we generated a net income of $18,240, which consisted of interest income on the Trust Account of $211,618, partially offset by formation
and operating costs of $136,809, franchise tax expense of $15,353 and income taxes provision of $41,216. 

For the three months ended December 31, 2023,
we generated a net income of $562,676, which consisted of interest income on the Trust Account of $983,627, partially offset by formation
and operating costs of $205,304, franchise tax expense of $11,500 and income taxes provision of $204,147.

For the nine months ended December 31, 2024, we
generated a net income of $99,459, which consisted of interest income on the Trust Account of $1,137,036