Company: GDSTR
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014248
Chunk: 86

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 8
Chunk 86
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 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 they meet the definition of a liability pursuant to ASC 480, and whether the rights meet all of the requirements
for equity classification under ASC 815, including whether the rights are indexed to the Company’s own common stock and whether
the rights holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control,
among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the
time of rights issuance and as of each subsequent quarterly period end date while the rights are outstanding. The Company accounted for
the rights as equity instruments in accordance with ASC 480 and ASC 815-40.

Warrants

The Company accounts for warrants as either equity-classified or liability-classified
instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in ASC 480 and ASC 815.
The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, whether