Company: GDSTR
Filing Date: 2025-08-20
Form Type: 10-Q
Source: 0001213900-25-078650
Chunk: 84

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-08-20
Form: 10-Q
Item: Item 8
Chunk 84
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 Amended and Restated Certificate of Incorporation, as previously amended on September 21,
2023 and June 18, 2024, to extend the date by which the Company has to consummate a business combination up to twelve (12) times,
each such extension for an additional one (1) month period, from June 21, 2025 to June 21, 2026. In connection with the
stockholders’ vote at the Annual Meeting, 1,152,875 shares of common stock were tendered for redemption. As a result,
$13,510,111 (approximately $11.72 per share) has been removed from the Company’s Trust Account in July 2025 to pay such holders,
without taking into account additional allocation of payments to cover any tax obligation of the Company, such as United States income
taxes and franchise taxes, but not including any excise tax, since that date. As of June 30, 2025, payables due to the redeeming shareholders
of the 1,152,875 shares amounted to $13,893,689 (approximately $12.05 per share), among which, $13,510,111 were paid in July 2025 with
the balance of $207,991 to be paid upon settlement of the income taxes refunds and the balance of $175,587 to be paid directly from the
Trust Account subsequent to this filing. Following redemptions, the Company has 442,996 shares of public common stock outstanding.
Pursuant to the Fifth Extension, the Company has deposited a total of two of $50,000 in the Trust Account, to initially extend the date
by which the Company can complete an initial business combination by two months to August 21, 2025. Because the redeeming stockholders
submitted their notices of redemption, and approval of the extension occurred prior to July 1, 2025, the redemption amount is included
in the accompanying condensed consolidated balance sheet as of June 30, 2025 as a liability, and the related shares are not included in
the number of outstanding shares of common stock subject to possible redemption as of June 30, 2025.

Liquidity and Going Concern

As of June 30, 2025, the Company had $4,224 in
cash held outside its Trust Account available for the Company’s payment of expenses related to working capital purposes subsequent
to the Initial Public Offering and working