Company: GDSTR
Filing Date: 2025-05-14
Form Type: S-4/A
Source: 0001213900-25-043297
Chunk: 332

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-05-14
Form: S-4/A
Chunk 332
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 the 5,750,000warrants issued with the IPO as equity instruments in accordance with ASC 480, “Distinguishing Liabilities from Equity” and ASC 815 -40, “Derivatives and Hedging: Contracts in Entity’s Own Equity”. The Company accounted for the warrant as an expense of the IPO resulting in a charge directly to stockholders’ equity. The Company estimates that the fair value of the warrants is approximately $ 1.2million, or $ 0.21per Warrant, using the Black -ScholesOption Pricing Model. The fair value of the warrants is estimated as of the date of grant using the following assumptions: (1) expected volatility of 12.96%, (2) risk -freeinterest rate of 1.16%, (3) expected life of 5years, (4) exercise price of $ 11.50and (5) stock price of $ 9.03.

NOTE 9 — INCOME TAXES

The Company’s taxable income primarily consists of dividend earned on investments held in the Trust Account.

The income tax provision (benefit) consists of the following:

|                      |     |   |    For the 
 Year Ended 
  March 31, 
       2024 |     |   |    For the 
 Year Ended 
  March 31, 
       2023 |
|:---------------------|:----|:--|-----------:|:----|:--|-----------:|
| Current              |     |   |            |     |   |            |
| Federal              |     | $ |    613,217 |     | $ |    253,426 |
| State                |     |   |          — |     |   |          — |
| Deferred             |     |   |            |     |   |            |
| Federal              |     |   |      2,975 |     |   |     48,070 |
| State                |     |   |          — |     |   |          — |
| Income tax provision |     | $ |    616,192 |     | $ |    301,496 |

A reconciliation of the statutory federal income tax rate to the Company’s effective tax rate is as follows:

|                               |     |    For the 
 Year Ended 
  March 31, 
       2024 |   |     | For the    
 Year Ended 
 March 31,  
 2023       |      |