Company: GDSTR
Filing Date: 2025-06-16
Form Type: 10-K
Source: 0001213900-25-054825
Chunk: 144

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-16
Form: 10-K
Item: Item 1A
Chunk 144
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 Delaware Secretary of State (the
“Charter Amendment”), to extend the date to consummate a business combination until June 21, 2025, as approved by the Company’s
stockholders at the Annual Meeting. Pursuant to the Fourth Extension, the Company has deposited a total of twelve of $50,000 in the Trust
Account, to initially extend the date by which the Company can complete an initial business combination by twelve months to June 21,
2025.

In
connection with the votes to approve the Company’s Amended and Restated Certificate of Incorporation, 3,395,590 shares
of Common Stock of the Company were tendered for redemption for an aggregate payment of approximately $38.0 million in June 2024.

20

Results
of Operations

Our
entire activity since inception up to March 31, 2025 was in connection with our search for a target for our initial business combination.
We will not generate any operating revenues until the closing and completion of our initial business combination, at the earliest. On
June 26, 2024, the Company entered into a Business Combination Agreement as discussed above. The Company filed its initial Form S-4 Registrant
Statement on January 30, 2025 and filed two amendments to the Form S-4 on April 24, 2025 and May 14, 2025, however, there is no assurance
that the Registration Statement will be declared effective or that the Business Combination will be completed.

For
the year ended March 31, 2025, we generated a net income of $109,366, which consisted of interest income on the Trust Account of $1,330,551
and franchise tax credit of $37,275, partially offset by formation and operating costs of $971,217 and income taxes provision of $287,243. 

For
the year ended March 31, 2024, we generated a net income of $1,596,567, which consisted of interest income on the Trust Account of $2,934,879,
business combination income of $125,000 as our previous potential target did not move forward with the merger and we were able to keep
the merger deposit funds, offset by formation and operating costs of $717,167, franchise tax expense of $129,953 and income taxes provision
of $616,192. 

Liquidity
and Going Concern

As
of March 31, 2025, we