Company: GDSTR
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112608
Chunk: 79

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 8
Chunk 79
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 Company may incur related to the investigation and selection
of a target business and the negotiation of an agreement in connection with its initial Business Combination.

The Company will provide its public shareholders
with the opportunity to redeem all or a portion of their public shares upon the shareholders meeting on extension of the time to complete
the Business Combination or upon the completion of an initial Business Combination at a per-share price, payable in cash, equal to the
aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of its initial Business Combination,
including interest earned on the funds held in the Trust Account and not previously released to the Company to pay its taxes, divided
by the number of then outstanding public shares, subject to certain limitations. The amount in the Trust Account was anticipated to be
$10.15 per public share. The per-share amount the Company will distribute to investors who properly redeem their shares will not be reduced
by deferred underwriting commissions the Company will pay to the underwriters (as discussed in Note 6). The common stock subject to redemption
was initially being recorded at a redemption value and classified as temporary equity upon the completion of the Initial Public Offering,
in accordance with Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.”

For the six months ended September 30, 2025, the Company withdrew $324,396
from the Trust Account and paid $81,099 for the year ended March 31, 2026 income taxes estimates with $243,297 remained in the Company’s
cash account as of September 30, 2025. Subsequent to September 30, 2025, the Company deposited back the $243,297 to the Trust Account
in November 2025. 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 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.

6

The Company will proceed with a Business Combination
if the Company has net tangible assets of at least $5,000,001 upon such consum