Company: GDSTR
Filing Date: 2025-06-16
Form Type: 10-K
Source: 0001213900-25-054825
Chunk: 1428

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-16
Form: 10-K
Item: Item 9C
Chunk 1428
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-month period leading up to a Business
Combination.

F-13

As
discussed in Note 1, in connection with the votes to approve the Company’s Amended and Restated Certificate of Incorporation, 3,395,590 shares
and 758,539 of Common Stock of the Company were tendered for redemption resulting in $38,030,691 and $8,157,801 paid from the Trust
Account to redeeming stockholders in June 2024 and October 2023, respectively. In June 2024, the Company distributed additional $13,653
from the Trust Account in connection with the 758,539 shares of Common Stock of the Company that were tendered for redemption in October
2023. As a result of the redemptions, as of March 31, 2025 and 2024, the Company has 1,595,871 and 4,991,461 shares, respectively,
of common stock subject to possible redemption at the redemption amount that were presented at redemption value as temporary equity,
outside of the stockholders’ (deficit) equity section of the Company’s balance sheet that are subject to redemption. See
Note 4 for further details.

Concentration
of Credit Risk

Financial
instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution,
which, at times, may exceed the Federal Depository Insurance Coverage of $250,000. The Company has not experienced losses on these accounts.

Fair
Value of Financial Instruments

ASC
Topic 820 “Fair Value Measurement” defines fair value, the methods used to measure fair value and the expanded disclosures
about fair value measurements. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an
orderly transaction between the buyer and the seller at the measurement date. In determining fair value, the valuation techniques consistent
with the market approach, income approach and cost approach shall be used to measure fair value. ASC Topic 820 establishes a fair value
hierarchy for inputs, which represent the assumptions used by the buyer and seller in pricing the asset or liability. These inputs are
further defined as observable and unobservable inputs. Observable inputs are those that buyer and seller would use in pricing the asset
or liability based on market data obtained from sources independent of the Company. Unobservable inputs reflect the Company’s assumptions
about the inputs that the buyer and seller would use in pricing the asset or