Company: GDSTR
Filing Date: 2025-07-18
Form Type: S-4/A
Source: 0001213900-25-065671
Chunk: 348

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-07-18
Form: S-4/A
Chunk 348
---
575,740 | ) |     |   |  (371,785 | ) |
| Deferred tax liability, net |     | $ |   (13,892 | ) |     | $ |   (51,045 | ) |

As of March 31, 2025 and 2024, the Company had $ and $ of U.S. federal and state gross deferred tax assets on start-up/organization costs carryovers available to offset future taxable income over the period of 180 months upon the consummation of the Business Combination. In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which temporary differences representing net future deductible amounts become deductible. Management considers the scheduled reversal of deferred tax assets, projected future taxable income and tax planning strategies in making this assessment. After consideration of all of the information available, management believes that significant uncertainty exists with respect to future realization of the deferred tax assets and has therefore established a full valuation allowance of $ and $ as of March 31, 2025 and 2024, respectively. The valuation allowance increased by $ from March 31, 2024 to March 31, 2025.

As of March 31, 2025 and 2024, the Company prepaid income taxes of $ and $0, respectively. The Company withdrew the prepaid income taxes balance from the Trust Account as the Company was required to pay estimated federal income taxes payments for the year ending March 31, 2025 based on the actual year ending March 31, 2024 federal income taxes payments. The Company is expected to refund the prepaid income taxes balance when it will file the federal income tax return in July 2025.

NOTE 10 — SEGEMNT INFORMATION ASC Topic 280, “Segment Reporting,” establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated by the Company’s chief operating decision maker, or group, in deciding how to allocate resources and assess performance. The Company has adopted the guidance in ASU 2023 -07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures for the year ended March 31, 2025, in the accompanying consolidated financial