Company: GDSTR
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014248
Chunk: 21

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 1
Chunk 21
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 differences in accounting
standards used.

Use of Estimates

 In preparing these unaudited condensed consolidated
financial statements in conformity with U.S. GAAP, management makes estimates and assumptions that affect the reported amounts of assets
and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported expenses
during the reporting period.

Making estimates requires management to exercise
significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances
that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near
term due to one or more future confirming events. Accordingly, Actual results may differ from these estimates.

11

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 December 31, 2024 and March 31, 2024.

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 December 31, 2024 and March 31, 2024, $18,473,627
and $55,495,253, respectively, of the assets held in the Trust Account were held in money market funds, which are invested in U.S. Treasury
securities.

The Company classifies its U.S. Treasury and equivalent securities
as trading securities in accordance with ASC Topic 320 “Investments — Debt Securities.” Trading securities are presented
on the balance sheets at fair value at the end of each reporting period. Gains and losses resulting from the change in fair value of these
securities is included in gain on Investments Held in Trust Account in the accompanying statement of operations. The estimated fair values
of investments held in the Trust Account are determined using available market information.

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