Company: GDSTR
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014248
Chunk: 37

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 1
Chunk 37
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 Initial Public Offering. The Company accounted for the unit purchase option, inclusive
of the receipt of $100 cash payment and the fair value of $208,093, or $7.67 per Unit, as a cost of the Initial Public Offering resulting
in a charge directly to stockholders’ equity. The fair value of the UPO granted to Maxim was estimated as of the date of grant using
the following assumptions: (1) expected volatility of 12.96%, (2) risk-free interest rate of 1.61%, (3) expected life of five years and
(4) 85% probability of successful combination. 

The option and such units purchased pursuant to the option, as well
as the common stock underlying such units, the rights included in such units, the shares of common stock that are issuable for the rights
included in such units, the warrants included in such units, and the shares underlying such warrants, have been deemed compensation by
FINRA and are therefore subject to a 180-day lock-up pursuant to FINRA Rule 5110(e)(1). Additionally, the option may not be sold, transferred,
assigned, pledged or hypothecated for a one-year period (including the foregoing 180-day period) following the date of Initial Public
Offering except to any underwriter and selected dealer participating in the Initial Public Offering and their bona fide officers or partners.
The option grants to holders demand and “piggy back” rights for periods of five and seven years, respectively, from the effective
date of the registration statement with respect to the registration under the Securities Act of the securities directly and indirectly
issuable upon exercise of the option. The Company will bear all fees and expenses attendant to registering the securities, other than
underwriting commissions which will be paid for by the holders themselves. The exercise price and number of units issuable upon exercise
of the option may be adjusted in certain circumstances including in the event of a stock dividend, or the Company’s recapitalization,
reorganization, merger or consolidation. However, the option will not be adjusted for issuances of common stock at a price below its exercise
price.

19

NOTE 8 — STOCKHOLDERS’ (DEFICIT) EQUITY

Common Stock

The Company is authorized to issue up to 15,000,000
shares of common stock, par value $0.0001 per share. As of December 31, 2024 and March 31, 2024