Company: GDSTR
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112608
Chunk: 92

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 8
Chunk 92
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 depreciation, amortization, and depletion expense,
to be disclosed under certain circumstances. The Company’s chief operating decision-maker is identified as the chief executive officer
who reviews financial information presented on a consolidated basis, accompanied by disaggregated information about revenues by different
revenues streams for purposes of allocating resources and evaluating financial performance. Based on qualitative and quantitative criteria
established by ASC 280, the Company considers itself to be operating within one operating and reportable segment.

Cash

The Company considers all short-term investments
with an original maturity of three months or less when purchased to be cash equivalents. The Company did not have any cash equivalents
as of September 30, 2025 and March 31, 2025.

Dividend receivable 

Dividend receivable represents Trust earnings
from the last month of the reporting period that are not added to the balance of the Trust Account until the next month.

Investments Held in Trust Account

As of September 30, 2025 and March 31, 2025, $5,330,210
and $18,666,931, respectively, of the assets held in the Trust Account were held in money market funds, which are invested in U.S. Treasury
securities. As of September 30, 2025 and March 31, 2025, the Company over withdrew $259,580, net of current provision for the six months
ended September 30, 2025, and $287,911, respectively, of its federal income tax payment from the Trust Account to pay for income
taxes estimates. In November 2025, the Company deposited the over withdrawal balance back to the Trust and is in the process working with
the Trustee to distribute the $383,578 to the redeeming shareholders tendered for redemption in June 2025.

Rights

The Company accounts for rights as either equity-classified
or liability-classified instruments based on an assessment of the rights’ specific terms and applicable authoritative guidance in
Financial Accounting Standards Board (“FASB”) ASC 480 “Distinguishing Liabilities from Equity” (“ASC 480”)
and ASC 815, Derivatives and Hedging (“ASC 815”). The assessment considers whether the rights are freestanding financial instruments
pursuant to ASC 480, whether they meet the definition of a liability pursuant to ASC 480, and whether the rights meet all of the requirements
for equity classification under ASC 815, including whether the rights are indexed to