Company: GDSTR
Filing Date: 2025-08-20
Form Type: 10-Q
Source: 0001213900-25-078650
Chunk: 165

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-08-20
Form: 10-Q
Item: Item 3
Chunk 165
---
ITEM 3. Quantitative and Qualitative Disclosures
About Market Risk

As
a smaller reporting company, we are not required to make disclosures under this Item.

ITEM 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

Disclosure
controls are procedures that are designed with the objective of ensuring that information required to be disclosed in our reports filed
under the Exchange Act, such as this Report, is recorded, processed, summarized, and reported within the time period specified in the
SEC’s rules and forms. Disclosure controls are also designed with the objective of ensuring that such information is accumulated
and communicated to our management, including the chief executive officer and chief financial officer, as appropriate to allow timely
decisions regarding required disclosure. Our management evaluated, with the participation of our current chief executive officer/chief
financial officer (our “Certifying Officer”), the effectiveness of our disclosure controls and procedures as of June 30,
2025, pursuant to Rule 15d-15(e) under the Exchange Act. Based upon that evaluation, our Certifying Officer concluded that, as of June
30, 2025, our disclosure controls and procedures were not effective due to the material weaknesses in our internal control over financial
reporting that are described below.

We do not expect that our disclosure controls
and procedures will prevent all errors and all instances of fraud. Disclosure controls and procedures, no matter how well conceived and
operated, can provide only reasonable, not absolute, assurance that the objectives of the disclosure controls and procedures are met.
Further, the design of disclosure controls and procedures must reflect the fact that there are resource constraints, and the benefits
must be considered relative to their costs. Because of the inherent limitations in all disclosure controls and procedures, no evaluation
of disclosure controls and procedures can provide absolute assurance that we have detected all our control deficiencies and instances
of fraud, if any. The design of disclosure controls and procedures also is based partly on certain assumptions about the likelihood of
future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions.

Identification of Material Weaknesses in Internal
Control Over Financial Reporting

Management determined that our internal control
over financial reporting was not operating effectively as of June 30, 2025, to provide reasonable assurance that:

(1) the
withdrawals from the Trust comply with the terms of the Investment Management Trust Agreement, authorized and supported by appropriate
documentation and used for the stated purpose,

(2) the