Company: GDSTR
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014248
Chunk: 84

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 8
Chunk 84
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 March 31, 2024 in the amount of $81,578 are required to be filed by October 31, 2024. The excise
tax return for the year end ending March 31, 2025 in the amount of $380,443 are required to be filed by July 31, 2025. As of the date
of this filing, the Company has not filed its March 31, 2024 excise tax return and estimated that the interest and penalties will be immaterial
to the Company’s unaudited condensed consolidated financial statements.

10

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited condensed consolidated financial statement
are presented in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and
pursuant to the rules and regulations of the SEC, and include all normal and recurring adjustments that management of the Company considers
necessary for a fair presentation of its financial position and operation results. Interim results are not necessarily indicative of results
to be expected for any other interim period or for the full year. The information included in this Form 10-Q should be read in conjunction
with information included in the Company’s annual report on Form 10-K for the year ended March 31, 2024, filed with the Securities
and Exchange Commission on June 3, 2024. The accompanying condensed consolidated balance sheet as of March 31, 2024 has been derived from
the audited consolidated financial statements included in the Form 10-K.

Principles of Consolidation

The unaudited condensed consolidated financial
statements include the accounts of the Company and its subsidiary. All intercompany transactions and balances are eliminated in consolidation.

A subsidiary is an entity in which the Company,
directly or indirectly, controls more than one half of the voting power; or has the power to govern the financial and operating policies,
to appoint or remove the majority of the members of the board of directors, or to cast a majority of votes at the meeting of directors.

Emerging Growth Company Status

The Company is an “emerging growth company,”
as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”),
and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that
are not emerging growth companies including, but