Company: GDSTR
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112608
Chunk: 21

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 1
Chunk 21
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 the interest and penalties will be immaterial   to the Company’s unaudited condensed consolidated financial statements  
as of September 30, 2025. 

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited condensed consolidated
financial statement are presented in conformity with accounting principles generally accepted in the United States of America (“U.S.
GAAP”) and pursuant to the rules and regulations of the SEC, and include all normal and recurring adjustments that management of
the Company considers necessary for a fair presentation of its financial position and operating results. Interim results are
not necessarily indicative of results to be expected for any other interim period or for the full year. The information included in this
Form 10-Q should be read in conjunction with information included in the Company’s annual report on Form 10-K for the year ended
March 31, 2025, filed with the Securities and Exchange Commission on June 16, 2025. The accompanying condensed consolidated
balance sheet as of March 31, 2025 has been derived from our audited financial statements included in Form 10-K.

Principles of Consolidation

The unaudited condensed consolidated financial
statements include the accounts of the Company and its subsidiaries.   All intercompany transactions and balances are eliminated
in consolidation.

A subsidiary is an entity in which the Company,
directly or indirectly, controls more than one half of the voting power; or has the power to govern the financial and operating policies,
to appoint or remove the majority of the members of the board of directors, or to cast a majority of votes at the meeting of directors.

Emerging Growth Company Status

The Company is an “emerging growth company,”
as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”),
and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that
are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting
firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation
in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive
compensation and stockholder approval of any golden parachute payments not previously approved.

Further, Section 102(b) (1