Company: GDSTR
Filing Date: 2025-06-20
Form Type: S-4/A
Source: 0001213900-25-055744
Chunk: 382

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-20
Form: S-4/A
Chunk 382
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2022, the Company entered into a promissory note with an individual, lender A, with proceeds to the Company of $600,000 and an interest rate of 5% per annum. As of December 31, 2023, the balances of the loan payable and interest payable connected to this note were $600,000 and $110,000, respectively; in January 2024, lender A and the Company entered into loan conversion agreements, whereby the entire amounts of the loan payable and the related interest payable were converted into shares of common stock at a price per share of $0.8057 for an aggregate number of shares of 881,209. Upon conversion, both the loan payable and interest payable were deemed to be repaid in full and the Company has no further obligation in connection with these loans to lender A. As of December 31, 2024, the balances of the loan payable and interest payable connected to this note are $0; interest expense accrued on the loan was $0 and $30,000 for the years ended December 31, 2024 and 2023, respectively. In October 2023, the Company entered into a promissory note with an individual shareholder, lender B, with proceeds to the Company of $500,000 and an interest rate of 10% per annum. As of December 31, 2023, the balances of the related party loan payable and interest payable connected to this note were $500,000 and $11,233, respectively; in January 2024, lender B and the Company entered into a loan conversion agreement, whereby the entire amount of the loan payable was converted into shares of common stock at a price per share of $0.8057 for an aggregate number of shares of 620,570. Upon conversion, the loan payable was deemed to be repaid in full and the Company has no further obligation in connection with the loan to lender B. As of December 31, 2024, the balance of the loan payable and interest payable are $0 and $11,233; interest expense on the loan was $0 and $11,233 for the years ended December 31, 2024 and 2023, respectively. NOTE 11 — LOANS PAYABLE — RELATED PARTY The Company’s related party accounts included the following:

| Name of related party       
 Shareholder A               |     | Relationship                                           
 Shareholder of the Company                             |     | Term                                                                                                        
 Non-interest bearing, maturity date February