Company: GDSTR
Filing Date: 2025-06-16
Form Type: 10-K
Source: 0001213900-25-054825
Chunk: 522

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-16
Form: 10-K
Item: Item 3
Chunk 522
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 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 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