Company: GDSTR
Filing Date: 2025-01-30
Form Type: S-4
Source: 0001213900-25-008051
Chunk: 312

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-01-30
Form: S-4
Chunk 312
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 warrant exercise, the warrants may have no value, the market for the warrants may be limited and the warrants may expire worthless. The private warrants have terms and provisions that are identical to those of the warrants being sold as part of the units in the Initial Public Offering except that the private warrants will be entitled to registration rights. The private warrants (including the common stock issuable upon exercise of the private warrants) will not be transferable, assignable or salable until 30 days after the completion of our initial business combination except to permitted transferees. F-23

GOLDENSTONE ACQUISITION LIMITED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 8 — STOCKHOLDERS’ (DEFICIT) EQUITY (cont.) The Company accounted for the 5,750,000warrants issued with the IPO as equity instruments in accordance with ASC 480, “Distinguishing Liabilities from Equity” and ASC 815 -40, “Derivatives and Hedging: Contracts in Entity’s Own Equity”. The Company accounted for the warrant as an expense of the IPO resulting in a charge directly to stockholders’ equity. The Company estimates that the fair value of the warrants is approximately $ 1.2million, or $ 0.21per Warrant, using the Black -ScholesOption Pricing Model. The fair value of the warrants is estimated as of the date of grant using the following assumptions: (1) expected volatility of 12.96%, (2) risk -freeinterest rate of 1.16%, (3) expected life of 5years, (4) exercise price of $ 11.50and (5) stock price of $ 9.03.

NOTE 9 — INCOME TAXES

The Company’s taxable income primarily consists of dividend earned on investments held in the Trust Account.

|                      |     |   |    For the 
 Year Ended 
  March 31, 
       2024 |     |   |    For the 
 Year Ended 
  March 31, 
       2023 |
|:---------------------|:----|:--|-----------:|:----|:--|-----------:|
| Current              |     |   |            |     |   |            |
| Federal              |     | $ |    613,217 |     | $ |    253,426 |
| State                |     |   |          — |     |   |          — |
| Deferred