Company: GDSTR
Filing Date: 2025-01-30
Form Type: S-4
Source: 0001213900-25-008051
Chunk: 339

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-01-30
Form: S-4
Chunk 339
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 Company require Common Stock subject to redemption to be classified outside of permanent equity. The Company’s redeemable Common Stock is subject to SEC and its staff’s guidance on redeemable equity instruments, which has been codified in ASC 480 -10-S99. If it is probable that the equity instrument will become redeemable, the Company has the option to either accrete changes in the redemption value over the period from the date of issuance (or from the date that it becomes probable that the instrument will become redeemable, if later) to the earliest redemption date of the instrument or to recognize changes in the redemption value immediately as they occur and adjust the carrying amount of the instrument to equal the redemption value at the end of each reporting period. The Company has elected to recognize the changes over the period from the date of issuance to the earliest redemption date of the instrument of twelve months. The accretion or remeasurement is treated as a deemed dividend (i.e., a reduction to retained earnings, or in absence of retained earnings, additional paid -incapital).

F-41

GOLDENSTONE ACQUISITION LIMITED
NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 4 — INITIAL PUBLIC OFFERING (cont.)

| Common stock subject to possible redemption, March 31, 2023     |     | $ |  59,544,769 |   |
| Redemption of common stock                                      |     |   |  (8,157,801 | ) |
| Plus:                                                           |     |   |             |   |
| Accretion of carrying value to redemption value                 |     |   |   4,039,650 |   |
| Common stock subject to possible redemption, March 31, 2024     |     |   |  55,426,618 |   |
| Redemption of common stock                                      |     |   | (38,044,345 | ) |
| Plus:                                                           |     |   |             |   |
| Accretion of carrying value to redemption value                 |     |   |   1,115,853 |   |
| Common stock subject to possible redemption, September 30, 2024 |     | $ |  18,498,126 |   |

NOTE 5 — PRIVATE PLACEMENT Simultaneously with the closing of the Initial Public Offering, the Company completed the private sale of 351,250units (the “Private Units”) to the Sponsor, Ray Chen, our