Company: GDSTR
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014248
Chunk: 49

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 1
Chunk 49
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 2023.

On June 18, 2024, the Company’s stockholders approved the amendment
to the Company’s Amended and Restated Certificate of Incorporation, as previously amended on September 21, 2023, to extend
the date by which the Company has to consummate a business combination up to twelve (12) times (the “Fourth Extension”),
each such extension for an additional one (1) month period, from June 21, 2024 to June 21, 2025. In connection with the
stockholders’ vote at the Annual Meeting, 3,395,590 shares of common stock were tendered for redemption. As a result,
approximately $38.0 million (approximately $11.20 per share) has been removed from the Company’s Trust Account to pay such
holders, without taking into account additional allocation of payments to cover any tax obligation of the Company, such as franchise taxes,
but not including any excise tax, since that date. On June 18, 2024, the Company filed a second amendment to its Amended and Restated
Certificate of Incorporation with the 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 eight of $50,000 in the Trust Account, to initially extend the date by which the Company
can complete an initial business combination by eight months to February 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.

Results of Operations

Our entire activity since inception up to December 31, 2024 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, however, there is no assurance
that the Registration Statement will be declared