Company: GDSTR
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014248
Chunk: 41

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 1
Chunk 41
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 the Company does not maintain a current prospectus relating to the common stock issuable upon exercise of the warrants,
holders will be unable to exercise their warrants and the Company will not be required to settle any such warrant exercise. If the prospectus
relating to the common stock issuable upon the exercise of the warrants is not current or if the common stock is not qualified or exempt
from qualification in the jurisdictions in which the holders of the warrants reside, the Company will not be required to net cash settle
or cash settle the warrant exercise, the warrants may have no value, the market for the warrants may be limited and the warrants may expire
worthless.

The private warrants have terms and provisions
that are identical to those of the warrants being sold as part of the units in the Initial Public Offering except that the private warrants
will be entitled to registration rights. The private warrants (including the common stock issuable upon exercise of the private warrants)
will not be transferable, assignable or salable until 30 days after the completion of our initial business combination except to permitted
transferees.

The Company accounted for the warrant as a cost of the IPO resulting
in a charge directly to stockholders’ equity. The Company estimates that the fair value of the warrants is approximately $1.2 million,
or $0.21 per Warrant, using the Black-Scholes Option 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-free interest rate of 1.16%, (3) expected life of 5 years,
(4) exercise price of $11.50 and (5) stock price of $9.03.

21

NOTE 9 — INCOME TAXES

The Company’s taxable income primarily consists of interest earned
on investment held in Trust Account.

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

    For the  
    For the  
    For the  
    For the 

    Three Months  Ended  
    Three Months  Ended  
    Nine Months  Ended  
    Nine Months  Ended 

    December 31,  2024  
    December 31,  2023  
    December 31,  2024  
    December 31,  2023 
  
    Current 

    Federal 
    $42,420  
    $153,