Company: GDSTR
Filing Date: 2025-01-30
Form Type: S-4
Source: 0001213900-25-008051
Chunk: 203

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-01-30
Form: S-4
Chunk 203
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 of $81,219, which consisted of interest income on the trust account of $925,418, offset by formation and operating costs of $629,217, franchise tax expense of $26,132 and income taxes provision of $188,850. For the six months ended September 30, 2023, we generated net income of $342,114, which consisted of interest income on the trust account of $1,240,083, offset by formation and operating costs of $617,880, franchise tax expense of $24,900 and income taxes provision of $255,189. For the year ended March 31, 2024, we generated a net income of $1,596,567, which consisted of interest income on the trust account of $2,934,879, business combination income of $125,000 as our previous potential target did not move forward with the merger and we were able to keep the merger deposit funds, offset by formation and operating costs of $717,167, franchise tax expense of $129,953 and income taxes provision of $616,192. For the year ended March 31, 2023, we generated a net income of $145,511, which consisted of interest income on the trust account of $1,483,785, offset by formation and operating costs of $998,735, franchise tax expense of $38,043 and income taxes provision of $301,496. Liquidity and Going Concern As of September 30, 2024, we had $5,040 in cash in our operating account as compared to cash of $30,823 at March 31, 2024 and working deficit of $3,798,362 as compared to a working capital deficit of $2,870,013 at March 31, 2024. The change in liquidity is attributable to cash used in operating activities of $1,067,424 and cash used in financing activities of $37,334,345, and offset by cash provided by investing activities of $38,375,986. For the six months ended September 30, 2024, there was $593,088 of cash used in operating activities resulting from interest income earned on investment held in Trust Account amounting to $1,240,083, and non -cashdeferred tax expense of $48,070, and decrease in income tax payable of $76,881, and offset by net income of $342,114, decrease in prepaid expenses of $32,500