Company: GDSTR
Filing Date: 2025-06-16
Form Type: 10-K
Source: 0001213900-25-054825
Chunk: 327

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-16
Form: 10-K
Item: Item 1C
Chunk 327
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 number
of record holders was determined from the records of our transfer agent and does not include beneficial owners of shares of common stock
whose shares are held in the names of various security brokers, dealers, and registered clearing agencies.

Dividends

We
have not paid any cash dividends on our common stock to date and do not intend to pay cash dividends prior to the completion of an initial
business combination. The payment of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital requirements
and general financial condition subsequent to completion of a business combination. The payment of any dividends subsequent to a business
combination will be within the discretion of our board of directors at such time. It is the present intention of our board of directors
to retain all earnings, if any, for use in our business operations and, accordingly, our board of directors does not anticipate declaring
any dividends in the foreseeable future. In addition, our board of directors is not currently contemplating and does not anticipate declaring
any share dividends in the foreseeable future. Further, if we incur any indebtedness, our ability to declare dividends may be limited
by restrictive covenants we may agree to in connection therewith.

Securities
Authorized for Issuance Under Equity Compensation Plans

None.

Recent
Sales of Unregistered Securities

None.

Use
of Proceeds

On
March 21, 2022, Goldenstone consummated its initial public offering (the “IPO”) of 5,750,000 units (the “Units”)
which included the full exercise of the over-allotment option to purchase 750,000 Units, each Unit consisting of one share of common
stock of the Company, par value $0.0001 per share (the “Common Stock”), one redeemable warrant to purchase one-half of one
share of Common Stock for $11.50 (“Warrant”) and one right to acquire one-tenth of one share of Common Stock.

Simultaneously
with the closing of the IPO and the over-allotment, we consummated the issuance of 351,250 private placement units (the “Private
Placement Units”) at $10.00 per Private Placement Unit.

Upon
the closing of the initial public offering on March 21, 2022, a total of $58,362,500 ($10.15 per Public Unit) of the net proceeds from
the IPO, the Over-Allotment and the Private Placement were deposited in a Trust Account established