Company: GDSTR
Filing Date: 2025-06-16
Form Type: 10-K
Source: 0001213900-25-054825
Chunk: 688

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-16
Form: 10-K
Item: Item 4
Chunk 688
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 of the warrants is current and
the common stock has been registered or qualified or deemed to be exempt under the securities laws of the state of residence of the holder
of the warrants. Under the terms of the warrant agreement, the Company has agreed to use its best efforts to meet these conditions and
to maintain a current prospectus relating to the common stock issuable upon exercise of the warrants until the expiration of the warrants.
However, the Company cannot assure that it will be able to do so and, if the Company does not maintain a current prospectus relating
to the common stock issuable upon exercise of the warrants, holders will be unable to exercise their warrants and the Company will not
be required to settle any such warrant exercise. If the prospectus relating to the common stock issuable upon the exercise of the warrants
is not current or if the common stock is not qualified or exempt from qualification in the jurisdictions in which the holders of the
warrants reside, the Company will not be required to net cash settle or cash settle the warrant exercise, the warrants may have no value,
the market for the warrants may be limited and the warrants may expire worthless.

The
private warrants have terms and provisions that are identical to those of the warrants being sold as part of the units in the Initial
Public Offering except that the private warrants will be entitled to registration rights. The private warrants (including the common
stock issuable upon exercise of the private warrants) will not be transferable, assignable or salable until 30 days after the completion
of our initial business combination except to permitted transferees.

The
Company accounted for the warrant as a cost of the IPO resulting in a charge directly to stockholders’ equity. The Company estimates
that the fair value of the warrants is approximately $1.2 million, or $0.21 per Warrant, using the Black-Scholes Option Pricing Model.
The fair value of the warrants is estimated as of the date of grant using the following assumptions: (1) expected volatility of 12.96%,
(2) risk-free interest rate of 1.16%, (3) expected life of 5 years, (4) exercise price of $11.50 and (5) stock price of $9.03.

F-21

NOTE 9
— INCOME TAXES

The
Company’s taxable income primarily consists of interest earned on investment held in Trust Account.

The
income tax provision (benefit) consists of the following:

    For
    the