Company: GDSTR
Filing Date: 2025-06-16
Form Type: 10-K
Source: 0001213900-25-054825
Chunk: 1966

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-16
Form: 10-K
Item: Item 8
Chunk 1966
---
 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.

F-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 

    Year
     Ended  
    Year
     Ended 

    March
    31,  2025  
    March
    31,  2024 
  
    Current 

    Federal 
    $324,395  
    $613,217 
  
    State 
     —  
     — 
  
    Deferred 

    Federal 
     (37,152) 
     2,975 
  
    State 
     —  
     — 
  
    Income
    tax provision 
    $287,243  
    $616,192 

A
reconciliation of the statutory federal income tax rate to the Company’s effective tax rate is as follows:

    For
                                            the Year
                                            Ended  
    For
                                            the Year
                                            Ended 

    March
    31, 2025  
    March
    31, 2024 
  
    U.S.
    statutory rate 
     21.0% 
     21.0%
  
    Change
    in valuation allowance 
     51.4% 
     6.8%
  
    Effective
    tax rate 
     72.4% 
    $27.8%

The
Company’s net deferred tax assets (liabilities) were as follows as of:

    March 31,
    2025  
    March 31,
    2024 
  
    Deferred tax