Company: GDSTR
Filing Date: 2025-08-20
Form Type: 10-Q
Source: 0001213900-25-078650
Chunk: 18

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-08-20
Form: 10-Q
Item: Item 1
Chunk 18
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384, net of $13,893,689 payables due to redeeming stockholders
to be paid out from the Trust Account.

In connection with the Company’s assessment of going concern
considerations in accordance with Financial Accounting Standards Board’s Accounting Standards Codification Subtopic 205-40, “Presentation  
of Financial Statements - Going Concern,” management has determined that these conditions raise substantial doubt about the Company’s
ability to continue as a going concern. The management’s plan in addressing this uncertainty is through the Working Capital Loans,
as defined below (see Note 6). In addition, if the Company is unable to complete a Business Combination within the Combination Period
by August 21, 2025, if not further extended, the Company’s board of directors would proceed to commence a voluntary liquidation
and thereby a formal dissolution of the Company. There is no assurance that the Company’s plans to consummate a Business Combination
will be successful within the Combination Period. As a result, management has determined that such conditions raise substantial doubt
about the Company’s ability to continue as a going concern. The unaudited condensed consolidated financial statements do not include
any adjustments that might result from the outcome of this uncertainty.

Inflation Reduction Act of 2022

On August 16, 2022, the Inflation Reduction Act
of 2022 (the “IR Act”) was signed into federal law. The IR Act provides for, among other things, a new U.S. federal 1% excise
tax on certain repurchases (including redemptions) of stock by publicly traded U.S. domestic corporations and certain U.S. domestic subsidiaries
of publicly traded foreign corporations occurring on or after January 1, 2023. The excise tax is imposed on the repurchasing corporation
itself, not its shareholders from which shares are repurchased. The amount of the excise tax is generally 1% of the fair market value
of the shares repurchased at the time of the repurchase. However, for purposes of calculating the excise tax, repurchasing corporations
are permitted to net the fair market value of certain new stock issuances against the fair market value of stock repurchases during the
same taxable year. In addition, certain exceptions apply to the excise tax. The U.S. Department of the Treasury (the “Treasury”)
has been given authority to provide regulations and other guidance to carry out and prevent the abuse or avoidance of the excise tax.
Any redemption