Company: GDSTR
Filing Date: 2025-04-24
Form Type: S-4/A
Source: 0001213900-25-034782
Chunk: 137

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-04-24
Form: S-4/A
Chunk 137
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, and the business model was centered around utilizing crypto. On June 21, 2022, we entered into a Merger Agreement (the “Merger Agreement”) by and among Roxe, Goldenstone, Goldenstone Merger Sub, Inc., a Delaware corporation (“Merger Sub”) and wholly -ownedsubsidiary of Goldenstone, and Amazon Capital Inc., solely in its capacity as representative, agent and attorney -in-factof the Roxe Securityholders (the “Securityholder Representative”) (collectively, the “Parties), pursuant to which Merger Sub would merge with and into the Company (the “Merger”) with the Roxe as the surviving corporation of the Merger and becoming a wholly -ownedsubsidiary of the Company. A merger agreement was signed with board approval. During the 2 ndquarter of 2022, the crypto coin and NFT business market changed, with a few companies in crypto business had issues of credibility of accounting. For the purposes of due diligence, we visited the headquarter of Roxe Holdings, met with the management team and had a few special discussions with its in house legal team. However, after conducting thorough research and due diligence, it became clear that cryptocurrency was highly complex and difficult to navigate. The valuation of Roxe was also much higher than its actual company value. Subsequently, Eddie Ni initiated the termination process, with board consent granted on September 16, 2022. Subsequently, on September 30, 2022, we entered into a Joint Agreement to Terminate Merger Agreement (the “Termination Agreement”) with Roxe, pursuant to which (i) the Parties mutually agreed to terminate the Merger Agreement. The termination was by mutual agreement of the Company and Roxe pursuant to Section 10.1(c) of the Merger Agreement, and no termination fee or other payment is due to either party from the other as a result of the termination. Subsequent to the termination of the agreement with Roxe, Goldenstone entered into non -bindingLOIs with 4 parties. On December 23, 2022, Goldenstone signed an LOI with a target company in the lithium battery industry (“Company A”). The Parties were introduced through a financial advisory who had a relationship with the President of Company A. Goldenstone conducted in -depthmanagement meetings and site visits along with financial and industry due diligence on Company A. Company A’s capital plan required a significant amount of capital to be raised for asset acquisitions and operational viability post