Company: GDSTR
Filing Date: 2025-06-16
Form Type: 10-K
Source: 0001213900-25-054825
Chunk: 927

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-16
Form: 10-K
Item: Item 7
Chunk 927
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 31, 2025 and 2024, and the
results of its operations and its cash flows for each of the two years in the period ended March 31, 2025,
in conformity with accounting principles generally accepted in the United States of America.

Explanatory Paragraph – Going Concern

The accompanying
financial statements have been prepared assuming that the Company will continue as a going concern. As more fully described in Note 1,
the Company is a Special Purpose Acquisition Corporation that was formed for the purpose of completing a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities on
or before June 21, 2025. There is no assurance that the Company will obtain the necessary approvals or raise the additional capital it
needs to fund its business operations and complete any business combination prior to June 21, 2025, if at all. The Company also has no
approved plan in place to extend the business combination deadline beyond June 21, 2025 and lacks the capital resources needed to fund
operations and complete any business combination, even if the deadline to complete a business combination is extended to a later date.
These conditions raise substantial doubt about the Company's ability to continue as a going concern. Management's
plans in regard to these matters are also described in Note 1. The financial statements do not include any adjustments that might result
from the outcome of this uncertainty.

Basis for Opinion

These financial statements are the responsibility
of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits. We
are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are
required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and
regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the
standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial
statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged
to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding
of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal