Company: GDSTR
Filing Date: 2025-01-30
Form Type: S-4
Source: 0001213900-25-008051
Chunk: 368

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-01-30
Form: S-4
Chunk 368
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,000, respectively, and an interest rate of zero percent. The Company repaid the entire note in the amount of $450,000 in December 2022 and as of December 31, 2022, the balance of the related party loan payable was zero. In February 2023, the Company entered into a promissory note with the same related party entity, shareholder A, with proceeds to the Company of $400,000 and an interest rate of zero percent. In March 2023, the Company made a principal payment of $200,000 and as of December 31, 2023, the balance of the related party loan payable is $200,000. In December 2023, the Company entered into a promissory note with an individual related party, shareholder B, with proceeds to the Company of $1,392,937 and an interest rate of zero percent. In December 2023, the individual related party shareholder and the Company entered into a loan conversion agreement, whereby the entire amount of the loan was converted into shares of common stock at a price per share of $0.8057 for an aggregate number of shares of 1,728,829. Upon conversion, the note is deemed to be repaid in full and the Company has no further obligation in connection with this loan to the individual related party shareholder; as of December 31, 2023, the balance of the related party loan payable is zero. Loan payable — related party lenders In April 2022, the Company entered into a promissory note with a related party lender A controlled by the Company’s ultimate shareholder, with proceeds to the Company in April 2022 and July 2022 of $190,000 and $300,000, respectively, and an interest rate of zero percent. The Company repaid $300,000 in July 2022 and $190,000 in December 2022 and as of December 31, 2022, the balance of the related party loan payable was zero. In April 2023, the Company entered into a promissory note with the same related party lender A, with proceeds to the Company in April 2023, July 2023 and September 2023 of $200,000, $500,000 and $100,000, respectively, and an interest rate of zero percent. The Company repaid the entire note in the amount of $800,000 in December 2023 and as of December 31, 2023