Company: GDSTR
Filing Date: 2025-05-14
Form Type: S-4/A
Source: 0001213900-25-043297
Chunk: 104

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-05-14
Form: S-4/A
Chunk 104
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 they fell due in the ordinary course of business. Upon completion of the IPO, Goldenstone’s Certificate of Incorporation provided that it will continue in existence only until January 22, 2024 (subject to Goldenstone’s ability to extend the deadline in accordance with its provisions). In January this deadline was extended to April 22, 2024 in accordance with its Certificate of Incorporation). In April 2024, stockholders approved an amendment to the Certificate of Incorporation to provide for monthly extensions, at the option of the Goldenstone board up through April 22, 2024 and currently the term has been extended through June 21, 2025. Each monthly extension requires the payment $50,000 into the Trust Account. If Goldenstone is unable to consummate an initial business combination transaction within the required time period, upon notice from Goldenstone, the trustee of the Trust Account will distribute the amount in the Trust Account to its Public Stockholders. Concurrently, Goldenstone shall pay, or reserve for payment, from funds not held in trust, its liabilities and obligations, although Goldenstone cannot assure you that there will be sufficient funds for such purpose. We expect that all costs and expenses associated with implementing our plan of dissolution, as well as payments to any creditors, will be funded from amounts remaining out of the approximately $392,000 of cash held outside of the Trust Account as of March 31, 2022, although we cannot assure you that there will be sufficient funds for such purpose. We will depend on sufficient interest being earned on the proceeds held in the Trust Account to pay any tax obligations we may owe or for working capital purposes. However, we may not properly assess all claims that may be potentially brought against us. As such, our stockholders could potentially be liable for any claims to the extent of distributions received by them (but no more) and any liability of our stockholders may extend well beyond the third anniversary of the date of distribution. Accordingly, third parties may seek to recover from our stockholders amounts owed to them by us. If, after we distribute the proceeds in the Trust Account to our Public Stockholders, we file a bankruptcy petition or an involuntary bankruptcy petition is filed against us that is not dismissed, any distributions received by stockholders could be viewed under applicable debtor/creditor and/or bankruptcy laws as either a “preferential transfer” or a “fraudulent conveyance.” As a result, a bankruptcy court could seek to recover all amounts received by our stockholders. In addition,