Company: GDSTR
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014248
Chunk: 35

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 1
Chunk 35
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 identical to
the Common Stock sold as part of the Public Units, except that Maxim Group LLC has agreed not to transfer, assign or sell any such representative
shares until the completion of the Company’s initial Business Combination. In addition, Maxim Group LLC has agreed (i) to waive
its redemption rights with respect to such shares in connection with the completion of the Company’s initial Business Combination
and (ii) to waive its rights to liquidating distributions from the Trust Account with respect to such shares if the Company fails to complete
its initial Business Combination within 12 months (or up to 21 months if the Company extends the period of time to consummate a Business
Combination) from the effective date of its registration statement. The shares have been deemed compensation by FINRA and are therefore
subject to a lock-up for a period of 180 days immediately following the commencement of sales of the offering pursuant to Rule 5110(e)(1)
of FINRA’s Rules. The lock-up period has expired.

NOTE 7 — COMMITMENTS & CONTINGENCIES

Risks and Uncertainties

As a result of the military action commenced in February 2022 by the
Russian Federation and Belarus in the country of Ukraine and related economic sanctions, and conflict between Isreal and Hamas, the Company’s
ability to consummate a Business Combination, or the operations of a target business with which the Company ultimately consummates a Business
Combination, may be materially and adversely affected. In addition, the Company’s ability to consummate a transaction may be dependent
on the ability to raise equity and debt financing which may be impacted by these events, including as a result of increased market volatility,
or decreased market liquidity in third-party financing being unavailable on terms acceptable to the Company or at all. The impact of this
action and related sanctions on the world economy and the specific impact on the Company’s financial position, results of operations
and/or ability to consummate a Business Combination are not yet determinable. The unaudited condensed consolidated financial statements
do not include any adjustments that might result from the outcome of this uncertainty.

Registration Rights

The holders of the Insider Shares issued and outstanding on the date
of this filing, as well as the holders of the Private Units (and all underlying securities) and any securities our initial stockholders,
officers, directors or their affiliates may be issued in payment of working capital loans made to the Company, will be entitled to registration
rights pursuant to an agreement prior to or on the date of Initial