Company: GDSTR
Filing Date: 2025-05-14
Form Type: S-4/A
Source: 0001213900-25-043297
Chunk: 333

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-05-14
Form: S-4/A
Chunk 333
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 |
|:------------------------------|:----|-----------:|:--|:----|:-----------|-----:|:--|
| U.S. statutory rate           |     |       21.0 | % |     |            | 21.0 | % |
| Change in valuation allowance |     |        6.8 | % |     |            | 46.4 | % |
| Effective tax rate            |     |       27.8 | % |     | $          | 67.4 | % |

The Company’s net deferred tax assets were as follows as of:

|                             |     |   | March 31, 
      2024 |   |     |   | March 31, 
      2023 |   |
|:----------------------------|:----|:--|----------:|:--|:----|:--|----------:|:--|
| Deferred tax assets:        |     |   |           |   |     |   |           |   |
| Start-up/organization costs |     | $ |   371,785 |   |     | $ |   221,180 |   |
| Deferred tax liability:     |     |   |           |   |     |   |           |   |
| Accrued dividend income     |     |   |   (51,045 | ) |     |   |   (48,070 | ) |
| Total deferred tax assets   |     |   |   320,740 |   |     |   |   173,110 |   |
| Valuation allowance         |     |   |  (371,785 | ) |     |   |  (221,180 | ) |
| Deferred tax liability, net |     | $ |   (51,045 | ) |     | $ |   (48,070 | ) |

As of March 31, 2024 and 2023, the Company had $ and $ of U.S. federal and state gross deferred tax assets on start-up/organization costs carryovers available to offset future taxable income over the period of 180 months upon the consummation of the Business Combination. In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which temporary differences representing net future deductible amounts become deductible